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
- RFID
- Wi-Fi
- ZigBee and UWB
- Ultrasound
- Infrared
- Others (Bluetooth, GPS, Combined technologies)
Real
Time Location Systems (RTLS) Market, by End-use Industry
- Healthcare
- 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
- Europe
- Asia-Pacific
- Rest of the World (RoW)
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