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RTLS market is expected to grow at a CAGR of 31.2% from 2013 to 2020 and reach $3.70 billion in 2020

According to a new 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.

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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Presently, AeroScout (U.S.) and Zebra Technologies (U.S.) are the two major companies contributing to the largest share of the global Real-Time Location Systems market. Their market leadership in the global RTLS market is dedicated mainly to their high expertise, breakthrough technological advanced solutions, wide range product portfolio, and the presence of a strong distribution network in amongst all geographies. Some of the other major companies operating in this market include TeleTracking Technologies (U.S.), Savi Technology (U.S.), Awarepoint (U.S.), Ubisense (U.K.), Identec Solutions (Austria), Versus Technology (U.S.), EKAHAU (U.S.), and Centrak (U.S.), among many others.

Browse 109 market data tables and 53 figures spread through 402 pages and in-depth TOC on "Real Time Location Systems (RTLS) Market"

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The ever growing need of achieving optimum resource utilization in different industries paved a path for location-based systems such as Real-Time Location Systems. In an enterprise, these systems facilitate location tracking and management of assets/personnel in real time thus resulting in improved operational efficiency and staff productivity. RTLS solutions have numerous applications in industries such as healthcare, manufacturing, logistics & transportation, government & defense, mining, oil & gas, retail, hospitality, education, and many others. Presently, health care is the largest market for RTLS solutions and industrial manufacturing is estimated to be the fastest-growing industry vertical with a huge market potential in the forecast period from 2013 to 2020.

RTLS is an emerging market worldwide with tremendous growth potential in industries such as healthcare, manufacturing, logistics, retail, and many more. The ability of RTLS solutions to provide real-time location tracking of an enterprise’s asset and employees, for high operational efficiency and productivity, is resulting into the increasing demand of RTLS solutions globally. In addition, the advent of new technologies such as Ultra Wideband and Zigbee and rising customer awareness regarding RTLS solutions are driving the growth of the RTLS market. Among all industry verticals, industrial manufacturing and process industries (mining, oil & gas) are expected to be the game changers for the upcoming growth of this market. These two industries are estimated to be the new revenue pockets for the RTLS market in the upcoming future.

The demand for RTLS solutions in the manufacturing sector is expected to rise at a tremendous growth rate in the coming future, mainly, due to the need for efficient and secure manufacturing environments with optimum operational efficiency. These solutions help the automotive, aerospace, and other discrete manufacturing companies in tracking Work-in-Progress (WIP) carriers, heavy equipment, containers, and personnel, in order to increase their production throughput and staff efficiency significantly. Various companies use RTLS solutions in their manufacturing operations spanning automotive, aerospace, and general manufacturing companies such as Airbus (France), Aston Martin (Germany), BMW (Germany), and Caterpillar (U.S.), among others. High industrial growth rate in developing economies such as Asia-Pacific and Middle East is also motivating different companies involved in manufacturing sectors to set up manufacturing facilities in these regions. All these factors are driving the growth of RTLS solutions in the industrial manufacturing sector worldwide.

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In process industries such as mining and oil & gas, worker security and safety concerns are driving the growing demand of real-time location tracking solutions. Various mining and oil & gas companies worldwide are adopting Real-Time Location Systems to have greater visibility of their workers and thus ensuring the safety of employees. RTLS provides real-time location data about personnel working in mines, and oil and gas rigs to prevent accident chances and to reduce the possibility of injury or loss of life as far as possible. Moreover, the Asia-Pacific and Middle East and Africa regions are projected to have a significant market growth for RTLS applications in mining and offshore oil and gas rigs, especially for personnel tracking, staff/worker safety, and asset management.

In 2013, Americas held the largest market revenue share followed by Europe in the global RTLS market, including hardware, software, and services. The high penetration of RTLS solutions in the healthcare sector and the presence of major Real-Time Location Systems' providers in this region such as AeroScout (U.S.), Zebra Technologies (U.S.), Awarepoint (U.S.), Centrak (U.S.), and Ekahau (U.S.) are the two major factors for the high RTLS growth rate in Americas. However, the increasing adoption of new technologies such as Ultra-Wideband and Zigbee in RTLS applications is estimated to drive the upsurge of the Real-Time Location Systems market, especially in developed economies including APAC and Europe. Moreover, APAC and ROW are projected to be the emerging markets with tremendous growth potential mainly due to high industrial growth, increasing customer awareness, broad application scope, and government support. Industrial manufacturing, process industries, and government & defense are the major industry verticals that are expected to propel the adoption of RTLS solutions in APAC and ROW regions. Some of the major companies operating in this market are AeroScout (U.S.), Zebra Technologies (U.S.), Ekahau (U.S.), GE Healthcare (U.K.), Motorola Solutions (U.S.), Ubisense (U.K.), Centrak (U.S.), Sonitor Technologies (Norway), and Awarepoint Corporation (U.S.), among others.

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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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