Real-Time Location Systems Market to Grow at a CAGR of 24.4% to reach US$ 18,878.4 Million from 2021 to 2028

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Technology, Media and Telecommunications Real-Time Location Systems Market
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Real-Time Location Systems Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Hardware, Software, and Services), Technology [Radio Frequency Identification (RFID), Ultra-Wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, and Others], Industry Vertical (Heavy Industries, Manufacturing, Retail, Oil and Gas, Automotive, Construction, Government and Defense, Education, and Others), and Application (Personnel/Staff Locating and Monitoring, Access Control and Security, Environmental Monitoring, Warehouse Management and Monitoring, Supply Chain Management and Operational Automation/Visibility, and Others)

Publication Month: Aug 2021 | Report Code: TIPTE100000390 | No. of Pages: 223 | Category: Technology, Media and Telecommunications | Status: Published

The global real-time location systems market is expected to grow from US$ 4,097.3 million in 2021 to US$ 18,878.4 million by 2028; it is estimated to grow at a CAGR of 24.4% during 2021-2028.

The growing penetration of ultra-wideband (UWB) technology based RTLS solutions that provide highly accurate positioning data and high accuracy and range with low power consumption is bolstering the growth of the real-time location systems market. End-use industries, such as healthcare, manufacturing, and logistics, are demanding UWB technology based RTLS solutions to improve efficiency, shorten lead times, and reduce costs. Also, rising demands for RTLS solutions from the sports, entertainment, and automotive sectors are driving the market growth. The availability of indoor tracking is encouraging the healthcare vertical to opt for RTLS, which is expected to fuel the growth of the market in the coming years. Bluetooth Low-Energy (BLE) solutions are cheaper and easier to integrate with existing systems and devices, and they offer a detection accuracy of up to 1.5 meters. Therefore, their adoption is increasing in diverse healthcare applications. Thus, the growing use of BLE solutions boosts the growth of the real-time location systems market. Moreover, the​ abilities of RTLS to analyze and eliminate workflow bottlenecks as well as to save time and money are bolstering the market growth.

Impact of COVID-19 Pandemic on Real-Time Location Systems Market

The real-time location systems market players were experiencing significant demand from the end users until the outbreak of COVID-19. Owing to the outbreak, governments across the world imposed various containment measures. While in some countries the governments imposed complete lockdown, a few countries experienced partial lockdown. Therefore, businesses were allowed to operate with regulations. Moreover, the supply chain of the real-time location systems was not affected from software side, as regular updates were rolled out by market players. However, the hardware side of real-time location systems was disrupted as manufacturing facilities of hardware were closed or were operating with limited workforce. Further, as major industries witnessed decline in revenue, the adoption real-time location systems were on the lower side. Meanwhile, as economies reopened and containment measures were relaxed, the real-time location systems market started to witness a positive growth in 2021.

Lucrative Regions for Real-time Location Systems Providers

Lucrative Regions for Real-time Location Systems Providers

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Real-time Location Systems Market Insights
Increasing Deployment of Ultra-Wideband (UWB) Based Real-Time Location System Fuels Growth of Real-time Location Systems Market

A real-time location system helps monitor and locate the objects and interactions as they happen. The system utilizes various technologies, such as Wi-Fi, Bluetooth, infrared, and RFID, to establish communication. However, end users from numerous industries, such as logistics, manufacturing, healthcare, automotive, and entertainment, are increasingly shifting toward the use of ultra-wideband (UWB) based real-time location systems. The ultra-wideband (UWB) Hardware offers accurate positioning details of assets/personnel/objects, which is one of the major factors driving the adoption of ultra-wideband (UWB) based real-time location systems. Also, the ultra-wideband (UWB) provides a higher range and accuracy along with lower power consumption than other real-time location system technologies, such as RFID, Bluetooth, Wi-Fi, infrared, which has led to an increase in penetration in high accuracy applications. The cost of the Hardware was restraining the adoption of the ultra-wideband (UWB) based real-time location system. However, lately, the cost has gradually declined over the last few years, which is driving the growth of the real-time location system.

Offering-Based Market Insights

Based on offering, the real-time location systems market is segmented into hardware, software, and services. In 2020, the hardware segment accounted for the largest share in the market.

Real-time Location Systems Market, by Offering, 2020 and 2028 (%)

Real-time Location Systems Market, by Offering, 2020 and 2028 (%)

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Technology-Based Market Insights

Based on technology, the real-time location systems market is segmented into Radio Frequency Identification (RFID), Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, and Others. In 2020, the Bluetooth Low Energy (BLE) segment accounted for the largest share in the market.

Strategic Insights

Report Coverage - Real-Time Location Systems Market
Report CoverageDetails
Market Size Value inUS$ 4,097.3 Million in 2021
Market Size Value byUS$ 18,878.4 Million by 2028
Growth rateCAGR of 24.4% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages223
No. of Tables137
No. of Charts & Figures109
Historical data availableYes
Segments coveredOffering , Technology , Industry Vertical , and Application
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The players operating in the real-time location systems market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In August 2021, Texas Rangers Baseball Club selected Aruba ESP-based network at its new 40,518 -seat Globe Life Field stadium to deliver premium fan and event experiences. The wireless network installed by Rangers comprises Aruba Wi-Fi 6 Indoor Access Points (APs), outdoor APs, and mobility controllers.
  • In August 2021, AiRISTA Flow, Inc. added Bluetooth Low Energy (BLE) 5.1 to its portfolio of location-based services. This new technology increases location accuracy, allows tracking in the vertical dimension, thereby improving the overall performance.

The global real-time location systems market has been segmented as mentioned below:

By Type

  • Hardware
  • Software
  • Services

By Technology

  • Radio Frequency Identification (RFID)
  • Ultra-wideband (UWB)
  • Bluetooth Low Energy (BLE)
  • Ultrasound
  • Infrared (IR)
  • GPS
  • Others

By Industry Vertical

  • Heavy Industries
  • Manufacturing
  • Retail
  • Oil and Gas
  • Automotive
  • Construction
  • Government and Defense
  • Education
  • Others

By Application

  • Personnel/Staff Locating and Monitoring
  • Access Control and Security
  • Environmental Monitoring
  • Warehouse Management and Monitoring
  • Supply Chain Management and Operational Automation/Visibility
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • Aruba Networks
  • AiRISTA Flow Inc.
  • Decawave Limited
  • Impinj, Inc.
  • Siemens AG
  • Zebra Technologies Corporation
  • Sonitor Technologies AS
  • Stanley Black & Decker, Inc.
  • TeleTracking Technologies Inc.
  • Ubisense

Frequently Asked Questions

What are reasons behind real-time location systems market growth?
The growing penetration of ultra-wideband (UWB) technology based RTLS solutions that provide highly accurate positioning data and high accuracy and range with low power consumption is bolstering the growth of the real-time location systems market. End-use industries, such as healthcare, manufacturing, and logistics, are demanding UWB technology based RTLS solutions to improve efficiency, shorten lead times, and reduce costs. Also, rising demands for RTLS solutions from the sports, entertainment, and automotive sectors are driving the market growth. The availability of indoor tracking is encouraging the healthcare vertical to opt for RTLS, which is expected to fuel the growth of the market in the coming years. Bluetooth Low-Energy (BLE) solutions are cheaper and easier to integrate with existing systems and devices, and they offer a detection accuracy of up to 1.5 meters. Therefore, their adoption is increasing in diverse healthcare applications. Thus, the growing use of BLE solutions boosts the growth of the real-time location systems market. Moreover, the abilities of RTLS to analyze and eliminate workflow bottlenecks as well as to save time and money are bolstering the market growth.
What are market opportunities for real-time location systems market?
The COVID-19 outbreak led governments across the world to impose containment measures, such as business and factory shutdown and lockdowns, in 2020. However, with the vaccination drives and relaxations of containment norms, offices and businesses started their operations from the third quarter of 2020. In this scenario, offices and businesses had to adhere to various precautionary measures, such as mandatory use of masks and norms of social distancing. Thus, to adhere to these measures, the real-time location system market players are integrating features such as social distancing and contact tracing in their solutions.
Which offering is expected to dominate the market in the forecast period?
The hardware segment led the real-time location systems market with a share of 68.7% in 2020. The hardware used for real-time location systems consists of radio frequency identification (RFID), Wi-Fi, ultra-wideband (UWB), Bluetooth low energy (BLE), ultrasound, infrared (IR), GPS, and others. These components are integrated with software solution for tracking various assets of organization. For instance, in healthcare industry the real-time location systems is widely used for tracking lifesaving equipment for routine maintenance as well as in emergencies for which assets are tracks using Wi-fi and RFID technology. The hardware provider for real-time location systems partners along with software provider to deploy complete solution according to the requirement of end user.
Which region has dominated the real-time location systems market?
In 2020, North America led the market with a substantial revenue share, followed by Europe and APAC.
Which are the major companies in the real-time location systems market?
The major companies in real-time location systems includes Decawave Limited, AiRISTA Flow Inc.; and Zebra Technologies Corporation.
Which technology is expected to dominate the market in the forecast period?
The Bluetooth Low Energy (BLE) segment led the real-time location systems market with a share of 29.8% in 2020. The Bluetooth transmits data within 2.4 GHz band, operates with 80 channels, and changes channels upto 1600/second. The Bluetooth low energy based real-time location systems is known determining the proximity of asset not the location. When an active tag comes within the range, a beacon which is close by can calculate the signal strength and the proximity of the tag. The accuracy of Bluetooth low energy based real-time location systems is largely depend on number of beacons deployed in the area. Moreover, the BLE tags are relatively cheaper, has lower energy consumption, lower deployment cost, and lower maintenance. Hospitals are among the end users where the Bluetooth low energy based real-time location systems is getting adopted for locating the proximity of patients from the allotted bed, the RTLS notifies the authorities when a patients equipment with BLE tags moves away bed against recommendations.

The List of Companies - Real-Time Location Systems Market

  1. Aruba Networks
  2. AiRISTA Flow Inc.
  3. Decawave Limited
  4. Impinj, Inc.
  5. Siemens AG
  6. Zebra Technologies Corporation
  7. Sonitor Technologies AS
  8. Stanley Black & Decker, Inc.
  9. TeleTracking Technologies Inc
  10. Ubisense
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Real-Time Location System market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global Real-Time Location System market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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