Real-Time Location Systems Market Skyrockets to $40.70 Billion by 2031 Dominated by Tech Giants - Aruba Networks, AiRISTA Flow Inc and Qorvo Inc | The Insight Partners

The global real-time location systems market is set for explosive growth, with projections indicating a surge to $40.70 billion by 2031. This remarkable expansion, driven by increase in demand for tube and clamp scaffolding.

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global real-time location systems (RTLS) market is observing healthy growth owing to the rising demand for connected devices. The report runs an in-depth analysis of market trends, key players, and future opportunities. For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/real-time-location-systems-market-research

The RTLS market primarily comprises hardware/component providers, RTLS manufacturers, system integrators, and end users. The RTLS consists of components such as software, transmitters, receivers, smart devices, infrared tags, and other types of tags. These components are further provided to RTLS manufacturers for the production of a system.

For More Information and To Stay Updated on The Latest Developments in The Real-Time Location Systems Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPTE100000390/

Market Overview and Growth Trajectory:

Real-Time Location Systems Market Growth: According to an exhaustive report by The Insight Partners, the Real-Time Location Systems Market is experiencing significant growth, driven by the growing use of RTLS in the healthcare sector. The market, valued at $6.16 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 26.6% during 2023–2031.

The demand for connected devices, including smartphones, tablets, and different wearable devices, such as smartwatches, fitness trackers, VR headsets, web-enabled glasses, smart jewelry, and Bluetooth headsets, is increasing across the world. Smartphones and tablets help the user accurately track location information in real time. The devices help the user to know the real-time traffic scenario and find the fastest route to the destination. It also assists parents to monitor the movement of their children through different location-tracking apps.

Rising Demand for Connected Devices: The adoption of connected devices such as smartphones and tablets are increasing tremendously. According to the Groupe Speciale Mobile Association (GSMA), smartphone adoption across the world was 76% in 2022, totaling 6.4 billion smartphone connections. The adoption is expected to rise to 92% by 2030, making 9 billion connections globally. According to the same report, smartphone adoption in North America was 84% in 2022 and is expected to climb to 90% by 2030. Similarly, the smartphone adoption rate in Europe would increase from 84% in 2022 to 91% by 2030. In Sub-Saharan Africa, an underpenetrated market, the smartphone adoption rate is predicted to grow from 51% in 2022 to 87% by 2030. This is further boosting the integration of real-time location systems across the world.

Growing E-Commerce Sector: There has been a surge in online shopping across the world. E-commerce sales have witnessed a significant growth rate over recent years. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ∼27.6% of the world's population) shopped for products from online portals. In addition, APAC leads the global e-commerce market, where China accounts for a significant percentage of the regional market growth. As per the International Trade Administration, China is the largest e-commerce market across the world, generating ∼50% of the world's transactions.

Stay Updated on The Latest Real-Time Location Systems Market Trends: https://www.theinsightpartners.com/sample/TIPTE100000390/

Emergence of 5G: The 5G network is ∼100 times faster than the 4G network, making real-time data acquisition easier. As the 5G network provides strong connectivity and high-speed data transfer, its demand is increasing across the world. According to the Groupe Speciale Mobile Association (GSMA), 5G penetration across the world is expected to reach 54% by 2030 from 17% in 2022. North America has the highest 5G penetration, with 39% in 2022; it is expected to reach 91% by 2030. 5G penetration in Asia Pacific (except China) and Europe is expected to increase from 4% and 11% in 2022 to 41% and 87% by 2030, respectively.

Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.

Real-Time Location Systems Market Segmentation, Applications, Geographical Insights:

• Based on offering, the real-time location systems market is segmented into hardware, software, and services. The hardware segment held the largest share of the market in 2023.
• By technology, the real-time location systems market is segmented into RFID, UWB, BLE, Ultrasound, Infrared, GPS, Wi-Fi, and ZIGBEE. The BLE segment dominated the market in 2023.
• In terms of industry vertical, the real-time location systems market is categorized into retail, government and defense, manufacturing, healthcare, logistics, heavy industries, construction, oil and gas, automotive, and others. The healthcare segment held a larger share of the market in 2023.
• By application, the real-time location systems market is segmented into personnel or staff locating and monitoring, environmental monitoring, access control and security, warehouse management and monitoring, supply chain management and operation automation or visibility, and others. The supply chain management and operation automation or visibility segment dominated the market in 2023.
• The real-time location systems market is segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South & Central America.  

Purchase Premium Copy of Global Real-Time Location Systems Market Size and Growth Report (2023-2031) at: https://www.theinsightpartners.com/buy/TIPTE100000390/

Key Players and Competitive Landscape:

The Real-Time Location Systems Market is characterized by the presence of several major players, including:

• Aruba Networks
• AiRISTA Flow Inc
• Qorvo Inc
• Impinj Inc
• Siemens AG
• Zebra Technologies Corp
• Sonitor Technologies AS
• Stanley Black & Decker Inc
• TeleTracking Technologies Inc
• Ubisense Ltd
• Slamcore Ltd
• Kudan Inc
• Microsoft Corp
• Sevensense Robotics AG
• NavVis GmbH

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Real-Time Location Systems Market Recent Developments and Innovations:

• "Houston Airports partnered with HPE Aruba Networking"
• "Sonitor and Spectralink announced a strategic partnership"
• "Ubisense announced a strategic partnership with Advanced Realtime Tracking (ART)"
• "Slamcore, a leader in vision-based location mapping, partnered with Intralink"

For Region-Specific Market Data, Check Out Brief Sample Pages: https://www.theinsightpartners.com/sample/TIPTE100000390/

Real-Time Location Systems Market Drivers, Challenges, Future Outlook and Opportunities:

The market growth in North America is attributed to the increasing number of internet users. According to the World Bank Group, ~92% of the population in the region uses the Internet. Such high Internet penetration in the region is fueling the growth of the e-commerce industry in North America. According to the Census Bureau of the Department of Commerce, the US retail e-commerce sales for the first quarter of 2024 was US$ 289.2 billion, an increase of 2.1% compared to the fourth quarter of 2023. Thus, the growth of the e-commerce industry is driving the real-time location systems market in North America.

Real-time location systems (RTLS) are used to determine the location of an object or a person. They can accurately locate, track, and manage assets, inventory, or people and help companies make knowledgeable decisions. The system consists of a transponder, a receiver, and software to interpret the data. RTLS transmitters or receivers are spaced throughout a building to provide the desired coverage. RTLS is used across many end-use verticals, such as heavy industries, manufacturing, retail, oil & gas, automotive, transportation and logistics, construction, government and defense, and education. Also, they are used for specific applications such as employee tracking and high-value asset tracking. The growing use of RTLS in the healthcare industry is significantly bolstering the growth of the real-time location systems market. In May 2022, Sonitor (a provider of ultrasound-based RTLS and indoor positioning systems) showcased its flagship SenseTM RTLS technology at the Oracle Cerner Healthcare Conference. The live demonstrations highlighted the clinical benefits of Sonitor's platform, including enhanced patient care, improved operational efficiencies, and infection control management. The company's reliable and accurate RTLS technology and seamless integration capabilities have helped the company attract a number of customers desiring RTLS solutions.

For In-Depth Market Forecasts and Analysis, Request PDF Brochure: https://www.theinsightpartners.com/sample/TIPTE100000390/

The growing penetration of ultra-wideband (UWB) technology-based RTLS solutions that provide highly accurate positioning data with low power consumption is bolstering the growth of the real-time location systems market. End-use industries, such as healthcare, manufacturing, and logistics, are demanding UWB technology-based RTLS solutions to improve efficiency, shorten lead times, and reduce costs. The rising demand for RTLS solutions from sports, entertainment, and automotive sectors is also driving the market. The availability of indoor tracking is encouraging the healthcare vertical to opt for RTLS, which is expected to further fuel the market growth in the coming years. Bluetooth Low-Energy (BLE) solutions are cheaper and easier to integrate with existing systems and devices, and they offer a detection accuracy of up to 1.5 meters. In May 2023, u-blox launched a u-blox NINA-B5 Bluetooth LE series of standalone modules for the automotive industry. Thus, the growing use of BLE solutions is boosting the growth of the real-time location systems market. Moreover, the abilities of RTLS to analyze and eliminate workflow bottlenecks and save time and money are bolstering the market growth.

The offering segment highlights various components that are used to make up real-time location systems, from physical components to supporting services. Hardware components provide physical infrastructure, while the software components enable the analysis and data processing. On the other hand, the services ensure the successful implementation of the systems. The hardware used for real-time location systems consists of anchors, tags, modules, transceivers, location engine, kits, sensors, and more. These components are integrated with a software solution such as RFID, Wi-Fi, UWB, BLE, ultrasound, IR, GPS, and other systems for tracking and monitoring various assets of an organization. Hardware providers partner with software providers to deploy complete solutions according to the requirements of end users. Industries such as healthcare, manufacturing, logistics, and retail heavily rely on RTLS hardware for asset management, inventory control, personnel tracking, and seamless operations. Similarly, the hardware used for simultaneous localization and mapping (SLAM) consists of sensors such as RGB-D cameras, light detection and ranging (LIDAR), and GPS; processing units such as graphics processing unit (GPU) and single instruction multiple data (SIMD) calculation; and more. These components play a vital role in enabling SLAM technology to build and update maps, operate efficiently and simultaneously, and understand the environment. This helps the implementation of the SLAM technology in various growing industries, such as automotive, oil & gas, government and defense, and others.

Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: https://www.theinsightpartners.com/inquiry/TIPTE100000390/

Conclusion:

Increased demand for real-time location systems in developing economies, such as India and China, is expected to create lucrative opportunities for market players in Asia Pacific during the forecast period. The growing manufacturing, retail, and logistics industries are raising the need for asset tracking, fueling the demand for real-time locating systems in the region. The rising demand for RTLS and SLAM in the above industries is pushing the market players to provide advanced solutions to customers. According to the State Council of China, the retail industry is booming in the country with an increased sales of 11% in 2023 accounting 2.24 trillion compared to the previous year. The growing demand for advanced technologies in these countries is expected to fuel the growth of the real-time location systems market in APAC.

With projected growth to $40.70 billion by 2031, the Real-Time Location Systems Market represents a significant opportunity for hardware/component providers, system integrators, investors, RTLS manufacturers, industry stakeholders and end users. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

Related Report Titles:

• RTLS for Healthcare Market Size, Share, & Growth by 2030
• Maritime Real-Time Positioning System Market Analysis and Forecast by Size, Share, Growth, Trends 2031
• Real-Time Tracking Management System Market Size and Forecasts (2021 - 2031)
• Location Intelligence Market Size and Forecasts (2021 - 2031)
• SLAM Technology Market Size and Forecasts (2021 - 2031)
• Emergency Location Transmitter Market Size and Forecasts (2021 - 2031)
• Environmental Monitoring Market Size and Forecasts (2021 - 2031)
• Warehouse Management System Market Size & Share Report 2030 

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 us:

Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/real-time-location-systems-market-research

Logo: https://mma.prnewswire.com/media/2520492/The_Insight_Partners_Logo.jpg