(PRWEB) June 19, 2014
According to a recent report, Real Time Location Systems (RTLS) Market by Product, Technology, Application, Industry Vertical & Geography 2020, the global RTLS market is expected to grow at a CAGR of 31.2% upto 2020 and reach $3.70 billion in 2020.
Browse 109 market data tables and 53 figures spread through 402 pages and in-depth TOC on "Real Time Location Systems (RTLS) Market."
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The ever growing need of achieving optimum resource utilization in different industries paved a path for location-based systems such as Real-Time Location Systems. In an enterprise, these systems facilitate location tracking and management of assets/personnel in real time thus resulting in improved operational efficiency and staff productivity. RTLS solutions have numerous applications in industries such as healthcare, manufacturing, logistics & transportation, government & defense, mining, oil & gas, retail, hospitality, education, and many others. Presently, health care is the largest market for RTLS solutions and industrial manufacturing is estimated to be the fastest-growing industry vertical with a huge market potential in the forecast period upto 2020.
In 2013, Americas held the largest market revenue share followed by Europe in the global RTLS market, including hardware, software, and services. The high penetration of RTLS solutions in the healthcare sector and the presence of major Real-Time Location Systems' providers in this region such as AeroScout (U.S.), Zebra Technologies (U.S.), Awarepoint (U.S.), Centrak (U.S.), and Ekahau (U.S.) are the two major factors for the high RTLS growth rate in Americas. However, the increasing adoption of new technologies such as Ultra-Wideband and Zigbee in RTLS applications is estimated to drive the upsurge of the Real-Time Location Systems market, especially in developed economies including APAC and Europe. Moreover, APAC and ROW are projected to be the emerging markets with tremendous growth potential mainly due to high industrial growth, increasing customer awareness, broad application scope, and government support. Industrial manufacturing, process industries, and government & defense are the major industry verticals that are expected to propel the adoption of RTLS solutions in APAC and ROW regions.
The overall Real-Time Location Systems Market is expected to reach $3.70 billion by 2020 at an estimated CAGR of 31.2% from 2013 to 2020. The major driving factors for RTLS market's growth include rapid increase in RTLS applications, rising customer awareness, increasing security & safety concerns in process industries (mining, oil & gas) & defense, technological advancements in hardware & software, declining cost of tags, and optimum resource utilization through real-time asset/personnel location tracking.
In this research study, different technologies such as RFID, Wi-Fi, ultrasound, infrared, Zigbee, Ultra wideband, GPS, and others are discussed in detail with qualitative as well as quantitative data. The overall market is also segmented by different product segments - hardware, software, and services; industry verticals - healthcare, logistics, manufacturing, process industries, government & defense, retail, hospitality, and education; applications- asset/ personnel tracking and management, patient safety and environment sensing & monitoring; and geography - Americas, Europe, APAC, and ROW. All the major segments are further segregated into sub-market segments. All the segments and sub-segments are separately described in the report.
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