Global Real-Time Locating System (RTLS) Market Size 2022 : Industry Analysis by Top Manufacturers, Share, Growth, Marketing Channel Development Trend And Forecast to 2031

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Kenneth Research examined the statistical and analytical approach that is required for the growth of Global Real-Time Locating System (RTLS) Market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Real-Time Locating System (RTLS) Market products.

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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.

The global RTLS market is likely to witness significant growth during the forecast period. The market is driven by various factors including increasing importance to improve operational performance across the value chain, expanding analytics solutions coupled with rising focus on smart workflow optimization, and consistent demand for RTLS in healthcare settings. However, data security, privacy concerns, and high initial cost along with complexity in integrating with the existing infrastructure are the key factors identified as restraints which are likely to deter the progression of the global RTLS market. Additionally, other driving factors such as rise of digital manufacturing, integration of RTLS with blockchain technology, and proliferation of IoT solutions across industries is anticipated create new business opportunities for vendors present in the global RTLS Market.

Real-time location system (RTLS) is a type of positioning system used to identify, locate, and track objects in real-time through automatic and continuous feedback. RTLS solutions uses software location engine that calculates the location of tag attached to an item by using Angle of Arrival (AoA), Time Difference of Arrival (TDoA) and/or Radio Signal Strength Indicator (RSSI). RTLS solutions can be deployed through various communication technologies such as UWB, RFID, WiFi, and others. Choosing appropriate technology is largely dependent on the type of application, use environment, and compliance requirements.

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Market Revenue and Segmentation Analysis:

The global RTLS market is expected to grow at a CAGR of 22.2% during the forecast period 2018-2024.

The global RTLS market is segmented on the basis of component, technology, industry vertical, region & country. In terms of technology, the market is segmented into WiFi, UWB, RFID, Infrared (IR), Ultrasound, Bluetooth, GPS, and Others. Among other technology segments, the UWB segment is identified as the fastest growing segment and is expected to contribute more than 25% market share by 2024, anticipated to register a growth rate of 28.7% CAGR during the forecast period. By component, the market is segmented into hardware, software, and services. By industry vertical, the RTLS market is segmented into Healthcare, Retail, Transportation & Logistics, Manufacturing, Government, Education, Sports & Entertainment, Oil & Gas, and Others.

Regional Analysis:

In 2017, the Americas was the dominant region in the global RTLS market followed by Europe. Furthermore, Asia Pacific is identified as the fastest growing region in the RTLS market, i.e., growing at a CAGR of 28.6% during the forecast period 2018-2024. This is mainly due to increasing adoption of digital technologies across various industries to eliminate manual process and investments on asset management solutions by organizations across various industry verticals.

The report also covers country-wise analysis of the RFID market across various regions including the Americas, Europe, Asia Pacific, and Middle East & Africa (MEA).

Benefits and Vendors

The report contains an in-depth analysis of vendors profile which includes financial health, business units, key business priorities, SWOT, strategies and views, and competitive landscape. Few of the key players profiled in this study include Zebra Technologies Corporation, Stanley Black & Decker, Inc. (STANLEY Healthcare), Hewlett Packard Enterprise Development LP (Aruba Networks), Airista Flow, Inc., Siemens AG, Sonitor Technologies, CenTrak, Sewio Networks s.r.o, Midmark Corporation, and Litum Technologies.

The study offers a comprehensive analysis of the "Global RTLS Market". Bringing out the complete key insights of the industry, the report aims to provide an insight into the latest trends, current market scenarios, and technologies related to the market. In addition, it helps the venture capitalists to understand revenue opportunities across different segments to take better decisions.

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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