According to a new market report published by Credence Research
Inc., “Real Time
Location System (RTLS) Market (By End-use Vertical
(Healthcare, Transportation and Logistics, Industrial Manufacturing &
Processing, Government, Hospitality, Retail, and Other End-use Verticals), By
Technology (RFID, Wi-Fi, ZigBee and UWB, GPS, Ultrasound, Infrared, and Other
Technologies)) – Growth, Share, Opportunities, Competitive Analysis, and
Forecast 2015 – 2022”, the global real time location system market is
expected to grow at a CAGR of 38.6% during the forecast period 2015 to 2022.
Market Insights
Real time location systems are technology driven systems that
use tags and readers to identify, find, track, and manage the location of
assets or people in real-time, generally within a confined area. To sustain
profit margins and market position, enterprises are increasingly turning
towards technology for increasing their asset utilization and operational
efficiency.
Browse the full Real Time Location System (RTLS) Market @ http://www.credenceresearch.com/report/real-time-location-system-rtls-market
However, even after being in the market for over a decade, the
technology hasn’t received enough acceptance. This majorly owes to issues like
lack of interoperability between various technology infrastructures and
uncertainty over return on investment. However, growing encouragement through
government initiatives and heavy investments in the development of different
tracking technologies are expected to propel market growth in the coming years.
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Competitive Insights:
The global real time location system market is highly fragmented
and technology driven, requiring vendors to understand distinct requirements
and differences between varied end-use verticals. The leading four vendors
accounted for less than 45% of the global real time location system market
revenue in base year 2014. There exists high degree of competition amongst
existing players. Some of the leading and promising players identified in the
ecosystem include Stanley Healthcare Solutions (Aero Scout Inc.) (the U.S.),
Zebra Technologies Corporation (the U.S.), Ekahau, Inc. (the U.S.), Motorola
Solutions Inc. (the U.S.), Aware point Corporation (the U.S.), Ubisense Group
Plc (the U.K.), Identic Solutions (Liechtenstein), TeleTracking Technologies,
Inc. (the U.S.), Versus Technology, Inc. (the U.S.) and Savi
Technology, Inc. (the U.S.) among others. Focus on developing robust and
innovative solutions through research and development is the primary strategy
adopted by the players in the market.
Key Trends:
·
Emergence and adoption of cost-effective technologies including
ZigBee and Ultra Wideband
·
Popularity of smart factories to support adoption of real time
location systems in the industrial sector
·
GPS and RFID technology not ideal for indoor location tracking
·
Issues including lack of interoperability and privacy concerns
have posed biggest challenge to the growth of real time locating system market.
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