Global Real-Time Locating Systems (RTLS) Market 2018-2023: Focus on Industry 4.0, IoT, and Smart Manufacturing
DUBLIN, July 17, 2018 /PRNewswire/ --
The "Real-Time Locating Systems (RTLS) Market by Offering (Hardware, Software, Services), Technology (RFID, W-Fi, UWB, BLE), Vertical (Healthcare, Manufacturing, Retail, Education, Govt, Sports), Application/Use case & Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global real-time location system (RTLS) market is expected to grow from USD 3.19 billion in 2018 to USD 8.79 billion by 2023, at a CAGR of 22.5% between 2018 and 2023.
The market growth is driven by the high adoption of RTLS solutions in the healthcare, retail, and manufacturing and automotive verticals. The regulatory compliance across industries including healthcare, oil & gas, mining, education, and manufacturing have also boosted the demand for RTLS solutions. The emergence of innovative startups, market competitiveness, and availability of customized solutions and high return on investment are the factors driving the growth of RTLS market. Concerns regarding data security and privacy; unsatisfactory results and negative feedback from RTLS end users; and the high cost of acquisition and maintenance would be the major factors restraining the market growth.
The hardware segment held the largest market share in 2017; however, organizations using RTLS solutions are expected to spend a significant amount on support and maintenance services on a regular basis. Hence, the RTLS market for services is expected to grow at the highest CAGR during the forecast period.
The market for UWB technology-based RTLS solutions is expected to grow at the highest CAGR during the forecast period. The UWB technology can support locating a large number of objects down to the range of few centimeters. The declining prices of UWB tags is likely to boost the demand for UWB technology-based RTLS solutions from various verticals such as manufacturing, transportation, and logistics in the coming years. UWB technology is expected to surpass the market for all other RTLS technologies by 2023.
The market in APAC is expected to grow at the highest CAGR during the forecast period owing to the untapped applications of RTLS solutions in different industries in APAC. Japan is the early adopter of RTLS solutions and has witnessed the highest growth in the RTLS market in the past. Countries such as South Korea, China, and Australia are also expected to witness high growth in the RTLS market in APAC.
The emergence of new applications/use cases and untapped/unexplored industries and applications in the APAC and RoW regions are likely to provide opportunities to RTLS vendors in the coming years. Additionally, emerging trends such as IoT, Industry 4.0, and the development of hybrid solutions as a result of technological advancements are also expected to present lucrative opportunities to RTLS vendors in the next few years. The growing IoT applications devised with healthcare requirements are expected to contribute to the growth of the RTLS market for the healthcare vertical. The education vertical is expected to witness the highest CAGR in the RTLS market during the forecast period owing to the rising concern for the security and safety of students and faculty at educational premises.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for RTLS Market Growth
4.2 Global RTLS Market, By Offering, 2015-2023 (USD Billion)
4.3 Comparison of Global RTLS Market Size, By Technology, 2017 vs 2023
4.4 Global RTLS Market Share, By Vertical, 2017 vs 2023
4.5 Global RTLS Market Share, By Application, 2015-2023
4.6 Market Share for Healthcare Vertical, By Technology and Region, 2017
4.7 Global RTLS Market Share, By Region, 2017 vs 2023
5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Emergence of Innovative Startups, Market Competitiveness, and Availability of Customized Solutions
5.1.1.2 High Return on Investment
5.1.1.3 Regulatory Compliance Across Industries Including Healthcare, Oil & Gas, Mining, Education, and Manufacturing
5.1.2 Restraints
5.1.2.1 Concerns Regarding Data Security and Privacy
5.1.2.2 Unsatisfactory Results and Negative Feedback From RTLS End Users and High Cost of Acquisition and Maintenance
5.1.3 Opportunities
5.1.3.1 Need for Resource Utilization and Workflow Optimization
5.1.3.2 Development of Hybrid RTLS Solution
5.1.3.3 Focus on Industry 4.0, IoT, and Smart Manufacturing
5.1.3.4 Emergence of New Applications/Use Cases, and Untapped/Unexplored Industries and Applications in APAC and RoW
5.1.3.5 Emerging Opportunities in Government and Defense Sectors
5.1.4 Challenges
5.1.4.1 Designing RTLS Solutions Fulfilling All Requirements High Accuracy, High Range, and Low Power Consumption
5.1.4.2 System Incompatibility and Lack of Uniform Standards and Interoperability
5.1.4.3 Less Awareness Among End Users and Lack of Expert Workforce
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Electronic Equipment and Components
6.2.2 Connectivity Technologies
6.2.3 RTLS Hardware and Software
6.2.4 System Integration and Services
6.2.5 End-User Industries
6.3 RTLS Technology Comparison
6.4 Price Comparison of RTLS Tags, By Technology, 2017
6.5 RTLS Tag Cost; Accuracy Level; and Operating Range, By Technology, 2017
6.6 Company Focus/Major Trends in Global RTLS Market
6.6.1 By Technology
6.6.2 By Offering
6.6.3 By Vertical
6.6.4 By Use Case/Application
7 Global RTLS Market, By Offering
7.1 Introduction
7.2 Hardware
7.2.1 Tags/Badges
7.2.2 Readers/Trackers/Access Points
7.2.3 Others
7.3 Software
7.3.1 Application
7.3.2 Middleware
7.3.3 Location Analytics Engine
7.4 Services
7.4.1 Consulting
7.4.2 Support and Maintenance
7.4.3 Deployment and Integration
8 Global RTLS Market, By Technology
8.1 Introduction
8.2 RFID
8.3 Wi-Fi
8.4 UWB
8.5 BLE
8.6 Infrared (IR)
8.7 Ultrasound
8.8 GPS
8.9 Others
9 RTLS Market, By Application/Use Case
9.1 Introduction
9.2 Inventory/Asset - Tracking & Management
9.3 Personnel/Staff - Locating & Monitoring
9.4 Access Control/Security
9.5 Environmental Monitoring
9.6 Yard, Dock, Fleet, & Warehouse - Management & Monitoring
9.7 Supply Chain Management & Operational Automation/Visibility
9.8 Others
10 Global RTLS Market, By Vertical
10.1 Introduction
10.2 Healthcare
10.3 Manufacturing & Automotive
10.4 Retail
10.5 Transportation & Logistics
10.6 Government & Defense
10.7 Education
10.8 Oil & Gas, Mining
10.9 Sports & Entertainment
10.10 Others
11 Geographic Analysis
12 Competitive Landscape
12.1 Overview
12.2 Ranking Analysis of Players in Global RTLS Market
12.3 Competitive Situations and Trends
12.3.1 Product Launches & Developments, Exhibitions
12.3.2 Agreements, Partnerships, Collaborations
12.3.3 Contracts
12.3.4 Acquisitions
13 Company Profiles
13.1 Introduction
13.2 Key Players
13.2.1 Stanley Healthcare
13.2.2 Zebra Technologies
13.2.3 Aruba Networks (Hp Enterprise)
13.2.4 Impinj
13.2.5 Savi Technology
13.2.6 Teletracking Technologies
13.2.7 Ubisense Group
13.2.8 Airista
13.2.9 Awarepoint
13.2.10 Identec Group
13.2.11 Alien Technology
13.3 Key Innovators
13.3.1 Decawave
13.3.2 Redpine Signals
13.3.3 Visible Assets
13.3.4 Centrak
13.3.5 Leantegra
13.3.6 Openrtls
13.3.7 Litum Technologies (Litum IoT & Sanitag)
13.3.8 Mojix
13.3.9 Tracktio
13.4 Other Important Players
13.4.1 Cerner Corp.
13.4.2 Ge Healthcare
13.4.3 Cisco
13.4.4 Sonitor Technologies
13.4.5 Statsports
For more information about this report visit https://www.researchandmarkets.com/research/tq4swg/global_realtime?w=5
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