Dallas, TX -- (ReleaseWire) -- 03/17/2014 -- According to a new market research report of “Real-Time Location Systems (RTLS) Market By Product (Tags, Sensors, Software), Technology (Wi-Fi, RFID, Infrared, Ultrasound, UWB, Zigbee), Application, Industry Vertical (Healthcare, Logistics, Manufacturing, Retail) & Geography 2013 - 2020”, the global RTLS market is expected to grow at a CAGR of 31.2% from 2013 to 2020 and reach $3.70 billion in 2020.
Browse 109 market data tables and 53 figures spread through 402 pages and in-depth TOC on “Real-Time Location Systems (RTLS) Market"
The overall Real-Time Location Systems market is expected to reach $3.70 billion by 2020 at an estimated CAGR of 31.2% from 2013 to 2020.The major driving factors for RTLS market’s growth include rapid increase in RTLS applications, rising customer awareness, increasing security & safety concerns in process industries (mining, oil & gas) & defense, technological advancements in hardware & software, declining cost of tags, and optimum resource utilization through real-time asset/personnel location tracking. In this research study, different technologies such as RFID, Wi-Fi, ultrasound, infrared, Zigbee, Ultra wideband, GPS, and others are discussed in detail with qualitative as well as quantitative data. The overall market is also segmented by different product segments - hardware, software, and services; industry verticals - healthcare, logistics, manufacturing, process industries, government & defense, retail, hospitality, and education; applications- asset/ personnel tracking and management, patient safety and environment sensing & monitoring; and geography - Americas, Europe, APAC, and ROW. All the major segments are further segregated into sub-market segments. All the segments and sub-segments are separately described in the report.
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Real-Time Location Systems is a growing market with huge potential to revolutionize many industries such as healthcare, manufacturing, logistics, retail, government, defense, and many more. RTLS solutions allow enterprises to track their assets with real-time visibility to ensure high operational efficiency and improved staff productivity. The escalating applications of RTLS in diverse industries present numerous growth opportunities for existing RTLS vendors as well as for new start-ups.
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In the global Real-Time Location Systems market, customer awareness is the major concern for RTLS vendors in order to achieve sustainable growth in this market. Customers/Enterprises are already aware about the RFID and its benefits to a certain degree, but most of them are unaware of the RTLS technology, in specific, and its possible benefits. Hence, by increasing the knowledge sharing and awareness among the customers through different means such as company blogs, forums, industry conferences, ROI analysis, and other tools, the RTLS vendors could help in fuelling the market adoption and growth of the RTLS solutions worldwide, especially in developing regions such as APAC & ROW.
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