Growth Opportunities in Global Real-time Location Solutions (RTLS)
Growth Opportunities in Global Real-time Location Solutions (RTLS)
Emerging Technologies in Connectivity Drive Demand for New Deployments
23-Dec-2022
Global
Market Research
Real-time location solutions (RTLS) provide accurate information on the location of materials, goods, assets, persons, or vehicles. The system includes tags, readers, and a software solution. This study covers different RTLS technologies that assets send radio signals to, such as wireless fidelity (Wi-Fi), RFID, ultra-wideband (UWB), Bluetooth Low Energy (BLE), and infrared and ultrasound location technologies.
This study assesses the RTLS market scenario from 2021 to 2026. The market was estimated at $1.44 billion in 2021 and registered a growth rate of 14.3% from 2020. The RTLS market is in a growth stage and forecast to increase at a CAGR of 16.1% over the forecast period.
The COVID-19 pandemic has created a massive demand for wireless tracking technologies in the healthcare, manufacturing, government, and defense sectors. Social distancing protocols have increased demand for contact-tracking solutions and provide lucrative opportunities for the RTLS market. Real-time technologies such as RFID, Wi-Fi, UWB, Bluetooth, and GPS make contact tracking possible across industry verticals during the pandemic and beyond. Healthcare, manufacturing, government, and defense sectors are the major end-users of RTLS solutions. These end-user verticals utilize RTLS technologies for contact tracing, measuring and tracking assets, and achieving real-time visibility over workflows.
Author: Sujan Sami
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Popular Topics
Deliverable Type | Market Research |
---|---|
Author | Sujan Sami |
Industries | Electronics and Sensors |
No Index | No |
Is Prebook | No |
Keyword 1 | Real-Time Location System Market |
Keyword 2 | Real-time Location Solutions |
Keyword 3 | RTLS technologies |
Podcast | No |
WIP Number | K6B5-01-00-00-00 |