REAL TIME LOCATION SYSTEMS MARKET ANALYSIS

One of the major challenges for the global real time location systems market is data security and privacy concerns. As RTLS technologies rely on collecting location data of individuals and assets, there are growing apprehensions about potential misuse of private location data. Many organizations are wary of deploying RTLS solutions due to lack of trust that the location data will be kept private and secure. Hackers can potentially gain access to location trails of high-profile individuals or leak sensitive location data of organizations. This can damage the reputation of both technology providers and their clients.

Market Opportunities - Adoption of BEACON technology

One major opportunity for the global real time location systems market is the adoption of beacon technology. Beacon technology involves using small transmitters called beacons to broadcast wireless signals to nearby smartphones and other devices. This enables location-based and proximity-marketing capabilities. Retailers have especially started deploying beacon technology on a large scale to deliver personalized and location-triggered messaging to customers via mobile apps