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Real-Time Location Systems (RTLS) Market Trends

Report ID: GMI6067
Published Date: Jun 2023
Report Format: PDF

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Real-time Location Systems Market Trends

The growing adoption of IoT and wearable devices is boosting organizational productivity and providing insights for better user experiences and engagement. Based on real-time information gathered by wireless systems, a real-time location system assists in determining the current position of an object. It also aids in indoor tracking of the item. The healthcare sector is increasingly adopting indoor tracking, which is expected to contribute to market size. Furthermore, industries are turning to real-time location systems to reduce the risks of workplace accidents. A real-time location system enables one to know the exact location of forklifts, vehicles, and operators, thereby driving their adoption in various applications.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of real-time location systems (RTLS) was reached USD 4.4 billion in 2022 and will witness 28% CAGR from 2023 to 2032, due to rising usage in smartphones, gaming, communication, and health & wellness applications.

North America held over 45% of the market share in 2022, owing to the growing advances in healthcare, retail, manufacturing, automotive, and transportation & logistics.

The hardware offering segment held 50% of the real-time location systems market share in 2022 and is poised to record over 28% CAGR from 2023-2032 due to the rising need for capturing and transmitting location data accurately and reliably.

Stanley Black & Decker, Inc., Honeywell International Inc., Zebra Technologies Corporation, CenTrak, Inc., Savi Technology, AeroScout (Stanley Healthcare), Ubisense Group plc, Identec Group AG, Sonitor Technologies AS, and TeleTracking Technologies, Inc are some of the major RTLS providers.