Market overview of RTLS
A real-time location system (RTLS) is the technology used to find, track, manage, and identify the geographical location of a target on a real-time basis with the help of nodes or tags and readers. The global market for RTLS is expected to exhibit strong growth during the forecast period and is positively affected by the continuous pressure on companies to enhance their operational efficiency. This constant pressure on companies to increase their profit margins and enhance customer satisfaction is a critical factor that results in this market’s profound CAGR of nearly 48% by 2020.
Technavio’s market research analysts estimate eminent factors, such as the augmented use of RTLS tags in hospitals, to drive market growth during the forecast period. In the healthcare sector, RTLS tags can be used for various asset management purposes like locating hospital beds, wheelchairs, ventilators, oxygen cylinders, and infusion pumps. Additionally, the ability of these tags to monitor sensitive equipment, violent patients, and hospital staff is a significant factor that is expected to bolster its adoption during the forecast period.
Segmentation of the global RTLS market by solutions
- Tags
- Systems
In this market study, analysts estimate the systems segment to account for a market share of more than 62% by 2020. The prospects for growth in this segment are driven by the augmented adoption of RTLS by government organizations as well as by various industries like healthcare, retail, oil and gas, and manufacturing.
Segmentation by verticals/sectors and analysis of the RTLS market
- Transportation
- Healthcare
- Government
- Retail
Technavio’s market research analyst estimates the others segment to be the largest market segment during the forecast period. This segment consists of sectors like oil and gas, engineering, automotive, mining, education, and electronics. The extensive use of RTLS solutions for yard management, batch tracking, location-based services, container tracking, and hazardous material tracking is expected to incite market growth in this segment during the forecast period.
Geographical segmentation of global RTLS market
- US and RoA
- Western Europe and RoW
- APAC
Geographically, the US is estimated to be the largest revenue contributing region during the period of 2016 to 2020. The augmented incorporation of RTLS tags in hospitals, enterprises, retail giants, and automobile companies is estimated to be a significant growth-spurring factor in this market during the forecast period.
Competitive landscape and key vendors
This market is highly competitive and is characterized by the presence of intense competition between the RTLS equipment and services providers. The global market for RTLS tags has witnessed massive changes in the last two to three years and is predicted to witness significant changes in the vendor landscape during the forecast period owing to the acquisition of SMEs by large companies.
Key vendors in this market are -
- AeroScout
- CSR Group
- Ekahau
- HP
- Intelleflex
- Samsung Networks
- Ubisense
- Zebra Technologies
The other prominent vendors mentioned in this industry research report are Axcess International, Awarepoint, BeSpoon, DcaWave, Essensium, Elpas, GE Healthcare, IBM, Intelligent Insites, Identec Solutions, Mojix, PINC Solutions, Plus Location Systems, Radianse, RF Technologies, Sonitor Technologies, Sewio, Savi Technology (acquired by LaSalle Capital), TagSense, Teletracking Technologies, ThingMagic, and Versus Technology.
Key questions answered in the report
- What are the key factors driving the global RTLS market?
- What are the key market trends impacting the growth of the global RTLS market?
- What are the various opportunities and threats faced by the global RTLS market?
- Trending factors influencing the market shares for US, RoA, Western Europe, APAC, and RoW?
- Key outcome of the five forces analysis on the global RTLS market?
- Growth forecast of the global RTLS market until 2020?
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