Real time location system market
The rising adoption of RTLS solutions and increasing adoption of RTLS in industrial verticals contributing growth of the market
PORTLAND, PORTLAND, OR, UNITED STATE, September 15, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Real Time Location System Market to Garner USD 39.12 Billion by 2030- Industry Sees Promising Growth in Coming Years .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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The global real-time location systems market generated $3.93 billion in 2020, and is projected to reach $39.12 billion by 2030, registering a CAGR of 25.7%.
The report offers key drivers that propel the growth in the global real-time location systems market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
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Significant surge in the adoption of Wi-Fi in various end-use industries across the globe, immaculate availability of affordably priced sensors, wide application and acceptance of RFIDs due to its high accuracy and long battery life, availability of fast internet connectivity, and increase in the use of smart phones and smart gadgets among people across the globe are expected to drive the growth of the global real-time location systems market. On the other hand, low awareness about these systems among people are expected to hinder the growth to some extent. However, persistent technological advancements in gadgets and increase in the adoption of business analytics across various industries are expected to create ample opportunities for the growth of the industry.
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The report provides a detailed segmentation of the global real-time location systems industry based on component, technology, industry vertical and region.
Based on technology, the RFID segment held the majority share in 2020, holding nearly one-third of the total market. The ultra-wideband segment, on the other hand, is expected to exhibit the fastest CAGR of 31.3% during the forecast period.
Based on components, the hardware segment held the largest market share in 2020, garnering more than two-fifths of the total market. The service segment, on the other hand, is expected to cite the fastest CAGR of 27.9% during the forecast period.
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Based on region, the area across North America held the lion’s share in 2020, garnering more than two-fifths of the total market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 28.6% during the forecast period.
The key players of the market analyzed in the global real-time location systems market report include Zebra Technologies Corporation, Ubisense Group PLC, AeroScout, Inc., TeleTracking Technologies, Inc., and Savi Technology.
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COVID-19 Scenario
• The outbreak of COVID-19 has had a positive impact on the growth of the of the global real-time location systems market. Lockdowns resulted in the increased adoption of RTLS in the healthcare industry so as to effectively evaluate the impact of a new telemedicine platform, allowing clinicians to conveniently interact with both healthcare workers and patients.
• Increasing use of telemedicine so as to enable healthcare workers to provide remote care for both outpatients and inpatients further promoted the market growth even more.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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