Acknowledging the kind of traction gained by this market, Industry data Analytics recently published a study report asserts the global Real-Time Location Systems Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 26.9% during the review period (2022 to 2027).
The Real-Time location systems market is significantly driven by the growing usage of smartphones and mobile, gaming, communication and health and wellness applications that require constant access to user information. Moreover, rapid urbanization and increasing requirement for advanced security systems are further driving the product demand. Furthermore, enlarged application in numerous end use industries such as transportation, inventory and warehouse management, along with inbound and outbound logistics management, is also anticipated to propel the growth of the Real-Time Location Systems market. It is also finding wide applicability in warehouses, correctional facilities, and retail stores, where it supports in monitoring the location of a target and tracking any misplaced items. Along with this, the application of favorable government policies that promote the use of advanced monitoring systems along with various technological advancements and growing focus on research and development (R&D) is also catalyzing the growth of the Real-Time Location Systems market globally.
Industry Developments:
August 2021, Texas Rangers Baseball Club selected Aruba ESP-based network at its new 40,518 -seat Globe Life Field stadium to deliver premium fan and event experiences. The wireless network installed by Rangers comprises Aruba Wi-Fi 6 Indoor Access Points (APs), outdoor APs, and mobility controllers.
January 2020 - Silicon Labs and Quuppa collaborated to deliver a highly accurate indoor asset tracking solution based on the BLE direction finding feature with advanced angle-of-arrival (AoA) technology. It is designed for indoor positioning, navigation, and asset and people tracking applications for several industries, including hospitals.
The Real-Time Location Systems Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, and the prices they charge. These are the main players in this market includes Aruba Networks, AiRISTA Flow Inc., Decawave Limited, Impinj, Inc., Siemens AG, Zebra Technologies Corporation, Sonitor Technologies AS, Stanley Black & Decker, Inc., TeleTracking Technologies Inc., Ubisense and others.
Real-Time Location Systems Market is segmented based on the product, component, technology, end user, companies and regions.
By Product
By Component
By Technology
By Industry Vertical
By Application
North America dominates the real-time location systems market. Progression of the market in this region is credited to numerous factors such as advancement in technologies and adoption of real-time location systems in sectors such as healthcare and hospitality. Moreover, the penetration of smartphones and 5G evolution contributes to the growth of RTLS market. However, Asia-Pacific is anticipated to witness highest growth rate during the forecast period owing to rise in popularity of fast internet connectivity including 4G and 5G connections, ever rising smartphone penetration, and strong & growing competition among telecom service providers in Asia-Pacific.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 26.9% during the review period (2022 to 2027). |
By Product |
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By Appication |
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By Companies | Aruba Networks, AiRISTA Flow Inc., Decawave Limited, Impinj, Inc., Siemens AG, Zebra Technologies Corporation, Sonitor Technologies AS, Stanley Black & Decker, Inc., TeleTracking Technologies Inc., Ubisense |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 125 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Real-Time Location Systems Market is studied from 2017 - 2027.
What is the growth rate of Real-Time Location Systems Market?
The Real-Time Location Systems Market is growing at a CAGR of 26.9% over the next 5 years.
Who are the leading key players in Real-Time Location Systems Market?
Aruba Networks, AiRISTA Flow Inc., Decawave Limited, Impinj, Inc., Siemens AG, Zebra Technologies Corporation, Sonitor Technologies AS, Stanley Black & Decker, Inc., TeleTracking Technologies Inc., Ubisense
What regions regions does this Real-Time Location Systems Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant Types of Real-Time Location Systems Market?
Hardware, Software, Services
What are the significant Application of Real-Time Location Systems Market?
Personnel/Staff Locating and Monitoring, Access Control and Security, Environmental Monitoring, Warehouse Management and Monitoring, Supply Chain Management and Operational Automation/Visibility, Others
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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