According to our latest market study on “Real-Time Location System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offering, Technology, Industry Vertical, and Application,” the market is expected to grow from US$ 4,097.3 million in 2021 to US$ 18,878.4 million by 2028; it is estimated to grow at a CAGR of 24.4% during 2021–2028.

A real-time location system helps monitor and locate the objects and interactions as they happen. The system utilizes various technologies, such as Wi-Fi, Bluetooth, infrared, and RFID, to establish communication. However, end users from numerous industries, such as logistics, manufacturing, healthcare, automotive, and entertainment, are increasingly shifting toward the use of ultra-wideband (UWB) based real-time location systems.

The ultra-wideband (UWB) Hardware offers accurate positioning details of assets/personnel/objects, which is one of the major factors driving the adoption of ultra-wideband (UWB) based real-time location systems. Also, the ultra-wideband (UWB) provides a higher range and accuracy along with lower power consumption than other real-time location system technologies, such as RFID, Bluetooth, Wi-Fi, infrared, which has led to an increase in penetration in high accuracy applications. The cost of the Hardware was restraining the adoption of the ultra-wideband (UWB) based real-time location system. However, lately, the cost has gradually declined over the last few years, which is driving the growth of the real-time location system.

Get PDF Sample Copy @ https://www.theinsightpartners.com/sample/TIPTE100000390/

Real-time locating systems (RTLS) identify and track the location of objects or people within a building or a contained area. The increased productivity, accuracy, and ability of real-time tracking is boosting the growth of the global real-time locations systems market. Growing demand for the RFID tags in the healthcare sector for various applications such as the tracking of surgical tools and tracking of patients and staff and in other end-use verticals for inventory/asset tracking and management and personnel/staff locating and monitoring has supported the growth of the market.

The top five companies in the real-time location systems market include Aruba Networks, Siemens AG, Decawave Limited, Zebra Technologies Corporation, Sonitor Technologies AS. The above listing of key players is derived by considering multiple factors such as overall revenue, current real-time location systems solution portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. There are various other notable players in the global real-time location systems market ecosystem, such as AiRISTA Flow Inc.; Impinj, Inc.; Stanley Black & Decker, Inc.; TeleTracking Technologies Inc.; and Ubisense.

Key Findings of Study:

The global real-time location system market is segmented into five major regions—North America, Europe, APAC, MEA, and SAM. Based on offering, the market is segmented into hardware, software, and services. In 2020, the hardware segment accounted for the largest share in the market. In terms of technology, the real-time location systems market is segmented into Radio Frequency Identification (RFID), Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, and Others. In 2020, the Bluetooth Low Energy (BLE) segment accounted for the substantial share of the market.

Based on industry vertical, the market is segmented into heavy industries, manufacturing, retail, oil and gas, automotive, construction, government and defense, education, and others. In 2020, the retail segment dominated the market.

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876