Real-Time Location Systems Growth and Revenue opportunities by 2025 - Exclusive Report by MarketsandMarkets™

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Dec 13, 2021, 10:00 ET

CHICAGO, Dec. 13, 2021 /PRNewswire/ -- According to the new market research report "Real-Time Location Systems Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use case, Geography- Global Forecast to 2025", published by MarketsandMarkets™, the RTLS market is expected to grow from USD 3.4 billion in 2020 to USD 10.3 billion by 2025; it is expected to grow at a CAGR of 24.8% from 2020 to 2025.

Browse 181 market data Tables and 76 Figures spread through 279 Pages and in-depth TOC on "Real-Time Location Systems Market (RTLS) with COVID-19 Impact Analysis - Global Forecast to 2025

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Impact of COVID-19 on RTLS Market:

The world is facing an economic crisis caused by COVID-19 pandemic. The pandemic like various other markets has also led to a decline in the growth rate of market, especially in 2020 and 2021. This is because organizations in most of the major demand-generating verticals are currently or were non-operational in various countries, thereby negatively impacting the demand for RTLS solutions. Additionally, COVID-19 has also disrupted the supply chain of the RTLS market, which is hindering the manufacturing, distribution, and installation of RTLS solutions.

This research report categorizes the RTLS market based on offering, technology, application, vertical, and region.

RTLS Market, by Offering

Hardware
Software
Services

RTLS Market, by Technology

RFID
Wi-Fi
Ultra-wideband (UWB)
Bluetooth Low Energy (BLE)
Ultrasound
Infrared (IR)
GPS
Others

RTLS Market, by Application

Inventory/Asset Tracking & Management
Personnel/Staff Locating & Monitoring
Access Control & Security
Environmental Monitoring
Yard, Dock, Fleet, & Warehouse Management & Monitoring
Supply Chain Management & Operational Automation/Visibility
Others

RTLS Market, by Vertical

Healthcare
Manufacturing & Automotive
Retail
Transportation & Logistics
Government & Defense
Education
Oil & Gas, Mining
Sports & Entertainment
Others

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The cost of RTLS system at the time of installation can be very high; it can be between USD 2 and 5 million. This varies from industry to industry and depends on the installation area. The installation cost of Wi-Fi-based RTLS is less than UWB-enabled systems; however, the hardware cost is vice versa. The maintenance of Wi-Fi- and RFID-based solutions is costlier compared to systems based on other technologies such as UWB and BLE. Many RTLS companies are facing various issues in terms of deployment and technology as many projects are failing because they require lots of engineering efforts and on-site preferences. In the case of RTLS, the company can't just ship the hardware and ask the consumer to install; but they need to be present on the site at the time of installation. Generally, companies offering RTLS solutions must be internationally organized. The high price of an RTLS system is because of the price of hardware, software, infrastructure, wiring, and power. The infrastructure is expensive, and wiring, power, and installation of RTLS components in the wall and roof significantly add to the total cost.

North America to account for largest market share during forecast period

North America is expected to account for the largest share of the RTLS market during the forecast period. the largest share of market, and a similar trend is likely to be observed during the forecast period. High demand from the healthcare sector is one of the key factors that has supported the growth of the market. A large number of hospitals and senior living facilities in North America, especially in the US, are using RTLS solutions for various applications.

Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), Savi Technology (US), TeleTracking Technologies (US), AiRISTA (US), Ubisense Group (UK), Decawave (Ireland), and Litum Technologies (Turkey) are among the key players operating in the RTLS market.

Related Reports:

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

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