The market was valued at USD 0.46 billion in 2013 and is expected to reach USD 3.86 billion by 2020, growing at a CAGR of 35.5% from 2014 to 2020. North America was the largest contributor to the global RTLS market in 2013; however, Asia Pacific is expected to be the fastest growing market during the forecast period with a CAGR of 37.8% from 2014 to 2020. The rising adoption of RTLS solutions in healthcare, and manufacturing and process industries in Asia Pacific region, particularly across countries such as Australia, Japan, Singapore and South Korea is driving growth of the RTLS market in Asia Pacific region.
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The major factors driving the RTLS market are optimum utilization of resources and asset management with RTLS solutions, decreasing prices of RTLS solutions and growing applications across various industries. Considering the advantages of RTLS solutions in various sectors such as healthcare, transportation and logistics, manufacturing and process industries, government and defense, the RTLS market is expected to grow at a substantial rate during the forecast period. Furthermore, government support for promoting the use of RTLS solutions is expected to propel growth of the RTLS market in near future.
RTLS delivers rapid return on investment (ROI) as it facilitates reduction in equipment loss due to stolen or misplaced items, patient and staff location, and others. Traditional personnel tracking methods primarily rely on GPS and RFID, which have certain limitations such as short range, slow data rate and RF interference. RTLS overcomes these limitations using different track and trace technologies such as Wi-Fi, UWB, ZigBee and others. Advanced features of RTLS such as inbound and outbound logistics management, inventory and warehouse management, and transportation management are expected to boost the demand for RTLS solutions during the forecast period.
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Different technologies of RTLS include RFID, Wi-Fi, ZigBee and UWB, ultrasound, infrared, and others. Amongst these, RFID is the most common type of technology used for RTLS solutions due to ease of implementation and low maintenance cost. The RFID segment accounted for 40.9% of the total RTLS market revenue in 2013. Active RFID tags used in RTLS systems are equipped with a battery that lasts up to more than five years. Another advantage of RFID readers and other hardware required for RTLS is low cost as compared to Wi-Fi based RTLS.
North America led the global RTLS market in 2013 with a revenue share of 45.2%. This was mainly due to need to increased efficiency and reduce costs associated with asset management in healthcare industry. Technological awareness led to the increased adoption of RTLS in various other industries such as transportation and logistics, manufacturing and process industries, retail and government applications. Furthermore, presence of key RTLS solution providers such as Zebra Technologies Corporation, Skytron LLC, CenTrak, AeroScout Inc., and Awarepoint Corporation is the major factor responsible for high adoption of RTLS in the North American region.
Some of the key players in the market include AeroScout Inc., Skytron LLC, Zebra Technologies Corporation, Sonitor Technologies, Inc., Ubisense Group plc, Awarepoint Corporation, Sonitor Technologies Inc., and TeleTracking Technologies Inc. The competitive rivalry among these companies is high and is expected to remain the same over forecast period.
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The report studies the global RTLS market, and provides estimates in terms of revenue (USD million) from 2012 to 2020. Market size estimates are provided on the basis of technology, end-use industry and geography. The market has been segmented as follows:
Real Time Location Systems (RTLS) Market, by Technology
- ZigBee and UWB
- Others (Bluetooth, GPS, Combined technologies)
Real Time Location Systems (RTLS) Market, by End-use Industry
- Transportation and Logistics
- Manufacturing and Process Industries
- Government and Defense
- Hospitality and Retail
- Others (Academics, Warehousing, Yard and Dock monitoring)
Real Time Location Systems (RTLS) Market, by Geography
- North America
- Rest of the World (RoW)
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