Real-Time Location Systems (RTLS) Global Market Report 2021: COVID-19 Impact And Recovery

The Business Research Company's Real-Time Location Systems (RTLS) Global Market Report 2021: COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, August 12, 2021 /EINPresswire.com/ -- The increasing demand for smartphones is expected to propel the growth of the real-time location system market in the coming years. A smartphone is a portable electronic device that connects to a cellular network. Smartphones enable users to make phone calls, deliver text messages and connect to the internet. The growing population across the globe has led to an increase in the demand for the smartphone. Smartphones are used for incident response and emergency management because of the real-time location system innovation, which is used to automatically spot and track the destination of objects or people in real-time. For instance, according to the Mobile User Statistics report, in 2021, there will be 3.8 billion smartphone users worldwide, accounting for 48.33% of the global population. Therefore, this increasing demand for smartphones drives the growth of the real-time location systems market.
The global real-time location systems market size is expected to grow from $4.13 billion in 2020 to $5.37 billion in 2021 at a compound annual growth rate (CAGR) of 30%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The real-time location systems market size is expected to reach $14.81 billion in 2025 at a CAGR of 28.9%.

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The real-time location systems market consists of sales of real-time location systems by entities (organizations, sole traders, and partnerships) that are used to automatically recognize and track the location in real-time. A real-time location system is one of several systems that recognizes a target's present geolocation, which can range from a vehicle to a manufacturing plant product to a human. The RTLS is used for fleet tracking, navigation, inventory and asset tracking, personnel tracking, and network security.

Major players in the real-time location systems market are Zebra Technologies Corp., Stanley Healthcare, CenTrak Inc., Ubisense Group PLC., TeleTracking Technologies Inc., Sonitor Technologies AS, AeroScout Industrial, DecaWave Limited, Midmark Rtls Solutions Inc., AiRISTA Flow Inc., Savi Technology, Lockheed Martin Corporation, GE Healthcare, Impinj, Identec Group AG, and Ekahau.

The main types of components in real-time location systems are hardware, software, and service. In RTLS hardware, a transmitter is attached to an individual or property and uses a wireless signal to provide identification and location data to receivers. Signals from tagged assets are received by RTLS receivers placed across the facility, which identify the location. They can detect location either by the tag's proximity to receivers or by a mathematical technique called trilateration, based on the wireless technology employed. The different technologies include RFID, Wi-Fi, ultra-wideband (UWB), Bluetooth low energy (BLE), ultrasound, infrared (IR), GPS, others and is used in inventory or asset tracking and management, personnel or staff locating and monitoring, access control and security, environmental monitoring, supply chain management, and operational automation or visibility, others. It is implemented in various verticals such as transportation and logistics, healthcare, retail, manufacturing and processing, and others.

Real-Time Location Systems (RTLS) Global Market Report 2021 - By Component (Hardware, Software, Service), By Technology (RFID, Wi-Fi, Ultra-Wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS), By Application (Inventory Or Asset Tracking And Management, Personnel Or Staff Locating And Monitoring, Access Control And Security, Environmental Monitoring, Supply Chain Management And Operational Automation Or Visibility), By End Use Industry (Transportation And Logistics, Healthcare, Retail, Manufacturing And Processing), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides real-time location systems market overview, forecast real-time location systems market size and growth for the whole market, real-time location systems market segments, and geographies, real-time location systems market trends, real-time location systems market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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