Real time location systems allow a user to identify and track the location of objects in real time by attaching a simple tag or badge to the object. The user can receive the signal from this badge to track the exact position of the object. RTLS integrates with a system that provides passive or active information of location. Real time systems help companies to arrange their assets effectively. This machinery is specially used in various warehouses or logistics companies to track the exact position of automobiles.
In 2011, the RTLS market was reported to be about USD 256 million. The market is estimated to reach USD 4 billion by 2022.
Over the last decade, RLTS gained significant opportunities in the manufacturing sector for tracking key productivity inputs. There is a large demand for real time location systems in homeland security, military, courier, agriculture, personal, and the food and retail sector. Increasing use in personal tracking also drives the RTLS market. There is a large demand for real time location systems in end user sectors like logistics, transportation and health care. Increasing application of tracking medical devices in health care market will further drive the market for RLTS.
Support from the government and businesses in research, to find out different application possibilities also enhance new opportunities for the real time location system market. High cost of ownership and installation is a barrier for this market. The U.S represents the largest market segment for RTLS in terms of revenue generated whereas Asia represents the fastest growing market with CAGR of 43% for the period 2012-2018.
The real time location market is divided among passive RFID, Active RFID, WIFi and GPS/GPRS on the basis of technology used. On the basis of its industrial applications, the market is divided among automotive industry, health care, logistics and transportation, military, public safety and others.
This report provides current market size, share and forecasted market for North America, Asia, Europe and ROW. The report also provides the company profile of key major players - AeroScou, Intelleflex, Savi, Tagsense, WhereNet, Pinc Solutions, ContainerTrac, Identec and others.
This market research report analyzes important market segments, and major geographies. This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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