REAL TIME LOCATION SYSTEMS MARKET ANALYSIS

Real Time Location Systems Market, By Offering (Services, Software, and Hardware), By Technology (RFID, Wi-Fi, UWB, BLE, Infrared, Ultrasound, and GPS), By Application (Inventory/Asset Tracking & Management, Personnel Locating & Monitoring, Access Control & Security, Environmental Monitoring, Yard, Dock, Fleet, and Warehouse Management & Monitoring, and Supply Chain Management & Automation), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Oct 2024
Code : CMI4692
Pages :170
Formats :
Excel and PDF
Industry : Industrial Automation and Machinery

Key Takeaways from Analyst

Global real time location systems market is poised to grow driven by the rising adoption of RTLS technologies across various industries for asset management and staff/patient tracking. Various manufacturing units, warehouses and healthcare facilities are implementing RTLS to improve operational efficiency through better resource utilization. Increased focus on customer experience and adoption of IoT is also propelling the market growth. However, high initial installation and maintenance costs may hinder the smaller companies from adopting these systems. North America currently dominates the market owing to large presence of healthcare and manufacturing facilities in the region. Within North America, U.S. captures majority of the market share. Europe is also a major market driven by strict regulations regarding staff safety and asset management. Asia Pacific is expected to be the fastest growing regional market in the long run supported by growing industrial and infrastructure development in various countries.