The global real time locating systems market (RTLS market) is expected to gain prominence over the forecast period owing to optimum utilization of resources and decreased prices of RTLS solutions. Real time locating systems offer easy identification and tracking of assets which include tools, containers, medical equipment, and trailers. Key application segments include transportation logistics, manufacturing & process industries, healthcare, and retail. The solutions provided for healthcare facilities help in improving clinical quality by capturing workflow efficiencies and cost reduction.
Increased government support for the promotion of RTLS solutions is expected to favorably impact the real time locating systems market growth over the forecast period. Features such as inventory and warehouse management, transportation management, and inbound & outbound logistics management are also expected to propel the real time locating system market growth. RTLS helps to deliver prompt Return on Investment (RoI) by facilitating the reduction in equipment loss due to the loss of stolen or misplaced items. RTLS uses different track and trace technologies, which include ZigBee, Wi-Fi, and Ultra Wide Band (UWB).
Increased demand for real time locating systems in developing economies of India and China in the Asia Pacific region is expected to create an opportunity for the future real time locating systems market growth over the forecast period. Real time locating systems are embedded in products, which include navigational system and mobile phones. The systems further include wireless nodes, which are usually tags or badges further emitting the signals. Real time locating systems applications include fleet tracking, inventory & asset tracking, navigation, personnel tracking, and network security. For instance, fleet-tracking systems enable an enterprise for tracking the vehicles location and its speed, optimizing the routes, scheduling the jobs, for navigational purposes, and further analyzing the driver efficiency. Furthermore, Wi-Fi Protected Access (WPA) is also engaged in limiting the physical areas, wherein the users connect to the restricted access. The different technologies are being used for on-site personnel and workers in the field, wherein the systems tracking the field workers are GPS-enabled mobile phones. On-site personnel tracking systems use radio frequency identification (RFID) enabled badges.
The real time locating systems market can be segmented on the basis of technology, which further includes GPS in real time locating system, Infrared, Wi-Fi, Bluetooth, ultra wide band, and ultrasound identification.
In terms of revenue, North America is expected to hold a substantial share over the forecast period on account of high technological awareness coupled with the growing trend in adoption of real time locating systems in government applications and several other industries.
The key players in the real time locating systems market include Awarepoint Corporation, AeroScout Inc., Zebra Technologies Corporation, Sonitor Technologies, Skytron LLC, TeleTracking Technologies Inc., and Ubisense Group plc.
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