Real-time Location Systems Market worth $16.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, June 16, 2023 /PRNewswire/ -- The global real-time location systems market size is expected to grow from USD 5.2 billion in 2023 to USD 16.2 billion by 2028, at a CAGR of 25.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. The market for RTLS technology has witnessed rapid growth, with an increasing number of players entering this market with innovative RTLS features for customers. Moreover, the RTLS hardware components are readily and commercially available throughout, so more customers are inclined to use RTLS solutions for asset and personnel tracking applications.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1322

Browse in-depth TOC on "Real-time Location Systems Market" 
200 – Tables
60 – Figures
240 – Pages

Real-time Location Systems Market Report Scope:

The market for services segment is expected to grow at the highest CAGR during the forecast period.

The services segment mainly comprises deployment and integration services, support and maintenance, and consulting, which are necessary for the successful operation of an RTLS solution. These services help deliver and implement solutions at customer sites and provide the required maintenance after implementation. Services are a critical part of the overall RTLS implementation, which can affect the budget of an enterprise significantly if ignored. The services cost includes installation and regular maintenance, which result in higher expenditure. The demand for consulting services will likely increase as consultation is the most critical parameter that helps decide the type and scale of an RTLS solution required for a specific use case.

The access control & security application is projected to grow at a significant CAGR from 2023 to 2028.

The prime concern of many industries, such as manufacturing, healthcare, government and defense, and education, is the security and safety of their assets and personnel. Access control and security is an important aspect in the areas where tracking of employees or individuals is essential to prevent them from entering non-restricted areas, barring unauthorized people from entering the facility, and alerting industrial facilities beforehand in case of any theft. RTLS solutions can inform an administrator about the location and condition of assets and workers. These systems may be used for safety checks and access control, assuring that the personnel are adequately outfitted with the necessary equipment to perform a particular task or procedure.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=1322

North America is expected to hold the largest share of the real-time location systems industry during the forecast period.

The high adoption of RTLS solutions in the US is the main factor that has led to the prominent position of North America in the RTLS market. Healthcare, retail, manufacturing and automotive, and transportation and logistics are the major demand-generating verticals for RTLS solutions in the US and throughout North America. For example, various hospitals in the US are using RTLS solutions for multiple applications, and the adoption of RTLS solutions in senior living facilities is also on the rise. Besides, several verticals, such as education, sports, and entertainment, are rapidly adopting RTLS solutions, which would drive the growth of the RTLS market in the US during the forecast period. Wi-Fi technology has traditionally led the market for RTLS solutions in North America; however, the said market in this region is expected to grow at a low rate in the coming years.

The major players in real-time location systems companies include Securitas AB (Sweden), Zebra Technologies Corporation (US), Aruba Networks (US), TeleTracking Technologies, Inc. (US), CenTrak, Inc. (US), Impinj, Inc. (US), and Savi Technology (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1322

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports:

RFID Market by Offering (Tags, Readers, Software & Services), Tag Type (Passive, Active), Wafer Size, Frequency, Form Factor (Card, Implant, Key Fob, Label, Paper Ticket, Band), Material, Application & Region - Global Forecast to 2030

Asset Management System Market With Covid-19 Impact by Solution (GPS, RFID, RTLS, Barcode), Asset Type (Electronic Assets, Returnable Transport Assets, In-Transit Equipment, Manufacturing Assets, Staff), Industry, Geography - Global Forecast to 2025

RTLS Market for Healthcare by Hardware (Tags/Badges, Readers/Trackers), Technology (RFID, Wi-Fi, UWB, BLE, Infrared, Ultrasound, GPS, Zigbee), Application (Inventory/Asset Tracking, Personnel Monitoring), Facility Type, Region - Global Forecast to 2028

RFID and Barcode Printer Market with COVID-19 Impact Analysis by Printer Type, Format Type (Industrial Printers, Desktop Printers, Mobile Printers), Printing Technology, Printing Resolution, Application, and Region - Global Forecast to 2026

Retail Automation Market by Type (PoS, Barcode, and RFID, ESL, Camera, AGV, ASRS, Automated Conveyor), End User (Hypermarkets, Supermarkets, Single Item Stores, Fuel Stations, Retail Pharmacies), Implementation, Region - Global Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/real-time-location-systems-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/real-time-location-systems.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg