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Real-Time Location Systems Market by Solution, Application, and Region - Forecast and Analysis 2020-2024

  • Published: Aug 2020
  • Pages: 120
  • SKU: IRTNTR43197
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The real-time location systems (RTLS) market share is expected to increase by USD 19.03 billion from 2021 to 2025, and the market’s growth momentum will accelerate at a CAGR of 46.86%. The real-time location systems (RTLS) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The real-time location systems (RTLS) market report also offers information on several market vendors, including AiRISTA Flow Inc., General Electric Co., Halma Plc, HP Inc., Link Labs Inc., Sewio Networks Sro, Sonitor IPS Holding AS, Stanley Black & Decker Inc., Ubisense Ltd., and Zebra Technologies Corp. among others. Furthermore, this report extensively covers real-time location systems (RTLS) market segmentation by solution (systems and tags), application (transportation and logistics, healthcare, government, retail, and others), and geography (North America, Europe, APAC, South America, and MEA).

What will the Real-Time Location Systems (RTLS) Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Real-Time Location Systems (RTLS) Market Size for the Forecast Period and Other Important Statistics

 

Real-Time Location Systems (RTLS) Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a POSITIVE impact on the market growth during and post COVID-19 era. The reduced cost of RFID tags is notably driving the real-time location systems (RTLS) market growth, although factors such as increasing use of traditional technologies by SMEs for tracking may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the real-time location systems (RTLS) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Real-Time Location Systems (RTLS) Market Driver

The reduced cost of RFID tags is a major driver fueling the RTLS market growth. RFID tags are broadly used across numerous sectors, such as logistics, automotive, construction, mining, oil and gas, retail, healthcare, sports, and education, for asset tracking and workforce management. These tags help sectors to enhance its efficiency and effectiveness of various operations. The cost of RFID tags is declining exponentially due to the increase in its adoption rate and competition among vendors in the industry. In 2014, the price of RFID tags had declined to 30%-40% as compared with the cost in 2012. As of 2015, the price of active RFID tags was between $15 and $20. At present, the cost of active RFID tags ranges from $20 to $100+ based on the tag s ability to overcome challenging circumstances as well as other key functional features of the tag. Passive RFID inlays (such as dry inlays, wet inlays, and paper face tags) are the low-priced RFID tags. They are priced at $0.12 per tag in high volumes. However, the price does not affect performance. When the demand is in bulk, the buyer gets more concessions depending on the volume. Therefore, the rapid decline in the cost of RFID tags is encouraging more SMEs and hospitals to implement RTLS solutions for various applications.

Key Real-Time Location Systems (RTLS) Market Trend

3D indoor locations using motion sensors is a major trend influencing the real-time location systems (RTLS) market growth. This technology gathers data from inertial sensors such as an accelerometer that is found in smartphones and provides a 3D navigation system. The use of geospatial information has increased considerably over the years. Companies such as Atos use GIS platforms with location technology to offer services to businesses involved in supply chain management, data centers, infrastructure development, urban planning, risk and emergency management, navigation, and healthcare. NTT DOCOMO offers an app based on the eeGeo Platform (a maps platform), which gives information about distinct seasonal changes and weather conditions at a location. Augmented reality technology uses GIS information and 3D platforms to provide virtual information about users and their surroundings. This information helps enterprises understand the needs of users and sends targeted advertisements to them. 

Key Real-Time Location Systems (RTLS) Market Challenge

Increasing use of traditional technologies by SMEs for tracking is a major hindrance to real-time location systems (RTLS) market growth. The maximum number of SMEs use traditional methods to track and monitor their resources. Traditional methods, primarily involving manual labor, are time-consuming and may cost more. However, the implementation cost of RTLS is extremely expensive as compared to traditional technologies. In addition, end-users are not aware of the benefits of RTLS in terms of ROI. Therefore, they continue to use traditional tracking technologies. The use of traditional tracking technologies among SMEs is expected to affect the growth of the RTLS market in the US during the forecast period.

This real-time location systems (RTLS) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global real-time location systems (RTLS) market as a part of the global communications equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the real-time location systems (RTLS) market during the forecast period.

Who are the Major Real-Time Location Systems (RTLS) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • AiRISTA Flow Inc.
  • General Electric Co.
  • Halma Plc
  • HP Inc.
  • Link Labs Inc.
  • Sewio Networks Sro
  • Sonitor IPS Holding AS
  • Stanley Black & Decker Inc.
  • Ubisense Ltd.
  • Zebra Technologies Corp.

This statistical study of the real-time location systems (RTLS) market encompasses successful business strategies deployed by the key vendors. The real-time location systems (RTLS) market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The real-time location systems (RTLS) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Real-Time Location Systems (RTLS) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the real-time location systems (RTLS) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global communications equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Real-Time Location Systems (RTLS) Market?

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53% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for real-time location systems (RTLS) market in North America. Market growth in this region will be faster than the growth of the market in regions.

The rising demand for RTLS in transportation and logistics will facilitate the real-time location systems (RTLS) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Solution Segments in the Real-Time Location Systems (RTLS) Market?

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The real-time location systems (RTLS) market share growth in the systems will be significant during the forecast period. This is attributed to the increased use of RTLS in tracking goods. Automobiles of military forces and aerospace, defense, and healthcare organizations are tracked on a real-time basis with the help of RTLS. The transportation and logistics industry is heavily using RTLS technology to enhance its productivity and profitability.

This report provides an accurate prediction of the contribution of all the segments to the growth of the real-time location systems (RTLS) market size and actionable market insights on post COVID-19 impact on each segment.

 

Real-Time Location Systems (RTLS) Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 46.86%

Market growth 2020-2024

$ 19.03 billion

Market structure

Fragmented

YoY growth (%)

40.32

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 53%

Key consumer countries

US, Canada, Germany, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AiRISTA Flow Inc., General Electric Co., Halma Plc, HP Inc., Link Labs Inc., Sewio Networks Sro, Sonitor IPS Holding AS, Stanley Black & Decker Inc., Ubisense Ltd., and Zebra Technologies Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Real-Time Location Systems (RTLS) Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive real-time location systems (RTLS) market growth during the next five years
  • Precise estimation of the real-time location systems (RTLS) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the real-time location systems (RTLS) industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of real-time location systems (RTLS) market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2019
    • 3.4 Market outlook: Forecast for 2019 - 2024
      • Exhibit 06: Global - Market size and forecast 2019 - 2024 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2019 - 2024 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2019 & 2024
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2019

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2019-2024 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Transportation and logistics - Market size and forecast 2019-2024
      • Exhibit 17: Transportation and logistics - Market size and forecast 2019-2024 ($ million)
      • Exhibit 18: Transportation and logistics - Year-over-year growth 2019-2024 (%)
    • 5.4 Healthcare - Market size and forecast 2019-2024
      • Exhibit 19: Healthcare - Market size and forecast 2019-2024 ($ million)
      • Exhibit 20: Healthcare - Year-over-year growth 2019-2024 (%)
    • 5.5 Government - Market size and forecast 2019-2024
      • Exhibit 21: Government - Market size and forecast 2019-2024 ($ million)
      • Exhibit 22: Government - Year-over-year growth 2019-2024 (%)
    • 5.6 Retail - Market size and forecast 2019-2024
      • Exhibit 23: Retail - Market size and forecast 2019-2024 ($ million)
      • Exhibit 24: Retail - Year-over-year growth 2019-2024 (%)
    • 5.7 Others - Market size and forecast 2019-2024
      • Exhibit 25: Others - Market size and forecast 2019-2024 ($ million)
      • Exhibit 26: Others - Year-over-year growth 2019-2024 (%)
    • 5.8 Market opportunity by Application
      • Exhibit 27: Market opportunity by Application

    6 Market Segmentation by Solution

    • 6.1 Market segments
      • Exhibit 28: Solution - Market share 2019-2024 (%)
    • 6.2 Comparison by Solution
      • Exhibit 29: Comparison by Solution
    • 6.3 Systems - Market size and forecast 2019-2024
      • Exhibit 30: Systems - Market size and forecast 2019-2024 ($ million)
      • Exhibit 31: Systems - Year-over-year growth 2019-2024 (%)
    • 6.4 Tags - Market size and forecast 2019-2024
      • Exhibit 32: Tags - Market size and forecast 2019-2024 ($ million)
      • Exhibit 33: Tags - Year-over-year growth 2019-2024 (%)
    • 6.5 Market opportunity by Solution
      • Exhibit 34: Market opportunity by Solution

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 36: Market share by geography 2019-2024 (%)
    • 8.2 Geographic comparison
      • Exhibit 37: Geographic comparison
    • 8.3 North America - Market size and forecast 2019-2024
      • Exhibit 38: North America - Market size and forecast 2019-2024 ($ million)
      • Exhibit 39: North America - Year-over-year growth 2019-2024 (%)
    • 8.4 Europe - Market size and forecast 2019-2024
      • Exhibit 40: Europe - Market size and forecast 2019-2024 ($ million)
      • Exhibit 41: Europe - Year-over-year growth 2019-2024 (%)
    • 8.5 APAC - Market size and forecast 2019-2024
      • Exhibit 42: APAC - Market size and forecast 2019-2024 ($ million)
      • Exhibit 43: APAC - Year-over-year growth 2019-2024 (%)
    • 8.6 South America - Market size and forecast 2019-2024
      • Exhibit 44: South America - Market size and forecast 2019-2024 ($ million)
      • Exhibit 45: South America - Year-over-year growth 2019-2024 (%)
    • 8.7 MEA - Market size and forecast 2019-2024
      • Exhibit 46: MEA - Market size and forecast 2019-2024 ($ million)
      • Exhibit 47: MEA - Year-over-year growth 2019-2024 (%)
    • 8.8 Key leading countries
      • Exhibit 48: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 49: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Volume driver – Demand led growth
      • 9.2 Market challenges
        • Exhibit 50: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Overview
          • 10.2 Vendor landscape
            • Exhibit 51: Vendor landscape
          • 10.3 Landscape disruption
            • Exhibit 52: Landscape disruption
            • Exhibit 53: Industry risks

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 54: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 55: Market positioning of vendors
          • 11.3 AiRISTA Flow Inc.
            • Exhibit 56: AiRISTA Flow Inc. - Overview
            • Exhibit 57: AiRISTA Flow Inc. - Product and service
            • Exhibit 58:AiRISTA Flow Inc. - Key news
            • Exhibit 59: AiRISTA Flow Inc. - Key offerings
          • 11.4 General Electric Co.
            • Exhibit 60: General Electric Co. - Overview
            • Exhibit 61: General Electric Co. - Business segments
            • Exhibit 62:General Electric Co. - Key news
            • Exhibit 63: General Electric Co. - Key offerings
            • Exhibit 64: General Electric Co. - Segment focus
          • 11.5 Halma Plc
            • Exhibit 65: Halma Plc - Overview
            • Exhibit 66: Halma Plc - Business segments
            • Exhibit 67:Halma Plc - Key news
            • Exhibit 68: Halma Plc - Key offerings
            • Exhibit 69: Halma Plc - Segment focus
          • 11.6 HP Inc.
            • Exhibit 70: HP Inc. - Overview
            • Exhibit 71: HP Inc. - Business segments
            • Exhibit 72:HP Inc. - Key news
            • Exhibit 73: HP Inc. - Key offerings
            • Exhibit 74: HP Inc. - Segment focus
          • 11.7 Link Labs Inc.
            • Exhibit 75: Link Labs Inc. - Overview
            • Exhibit 76: Link Labs Inc. - Product and service
            • Exhibit 77: Link Labs Inc. - Key offerings
          • 11.8 Sewio Networks Sro
            • Exhibit 78: Sewio Networks Sro - Overview
            • Exhibit 79: Sewio Networks Sro - Product and service
            • Exhibit 80: Sewio Networks Sro - Key offerings
          • 11.9 Sonitor IPS Holding AS
            • Exhibit 81: Sonitor IPS Holding AS - Overview
            • Exhibit 82: Sonitor IPS Holding AS - Product and service
            • Exhibit 83:Sonitor IPS Holding AS - Key news
            • Exhibit 84: Sonitor IPS Holding AS - Key offerings
          • 11.10 Stanley Black & Decker Inc.
            • Exhibit 85: Stanley Black & Decker Inc. - Overview
            • Exhibit 86: Stanley Black & Decker Inc. - Business segments
            • Exhibit 87:Stanley Black & Decker Inc. - Key news
            • Exhibit 88: Stanley Black & Decker Inc. - Key offerings
            • Exhibit 89: Stanley Black & Decker Inc. - Segment focus
          • 11.11 Ubisense Ltd.
            • Exhibit 90: Ubisense Ltd. - Overview
            • Exhibit 91: Ubisense Ltd. - Product and service
            • Exhibit 92:Ubisense Ltd. - Key news
            • Exhibit 93: Ubisense Ltd. - Key offerings
          • 11.12 Zebra Technologies Corp.
            • Exhibit 94: Zebra Technologies Corp. - Overview
            • Exhibit 95: Zebra Technologies Corp. - Business segments
            • Exhibit 96:Zebra Technologies Corp. - Key news
            • Exhibit 97: Zebra Technologies Corp. - Key offerings
            • Exhibit 98: Zebra Technologies Corp. - Segment focus

          12 Appendix

          • 12.1 Scope of the report
            • 12.2 Currency conversion rates for US$
              • Exhibit 99: Currency conversion rates for US$
            • 12.3 Research methodology
              • Exhibit 100: Research Methodology
              • Exhibit 101: Validation techniques employed for market sizing
              • Exhibit 102: Information sources
            • 12.4 List of abbreviations
              • Exhibit 103: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            The real-time location systems (rtls) market market growth will increase by $$ 19.03 bn during 2021-2024.
            The real-time location systems (rtls) market market is expected to grow at a CAGR of 46.86% during 2021-2024.
            Technavio has segmented the real-time location systems (rtls) market market by application (transportation and logistics, healthcare, government, retail, and others) and geography (North America, Europe, APAC, South America, MEA, North America, Europe, APAC, South America, and MEA).
            AiRISTA Flow Inc., General Electric Co., Halma Plc, HP Inc., Link Labs Inc., Sewio Networks Sro, Sonitor IPS Holding AS, Stanley Black & Decker Inc., Ubisense Ltd., Zebra Technologies Corp. are a few of the key vendors in the real-time location systems (rtls) market market.
            North America will register the highest growth rate of 53% among the other regions. Therefore, the real-time location systems (rtls) market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the real-time location systems (rtls) market market growth are:
            • Reduced cost of RFID tags
            • Increasing focus on edge computing
            The real-time location systems (rtls) market market vendors should focus on grabbing business opportunities from the transportation and logistics segment as it accounted for the largest market share in the base year.
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