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.
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RTLS solutions also have a lot of untapped opportunities in the healthcare sector. Healthcare is estimated to hold its market leadership position in the coming future as well. The upcoming growth of this market growth is evident from the latest five-year contract (2013-2018), worth $543 million, which was signed in January 2013, between the Veteran Affairs (VA, U.S.) and Hewlett-Packard (U.S.) Enterprise Services for the deployment of RTLS at 152 medical centers. The purpose of this contract is to provide better and advanced veteran healthcare services in the U.S.
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" published by MarketsandMarkets, 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"
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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.
Zebra Technologies was founded in 1969 and it went public in 1991. Zebra Technologies is considered as an innovative company in the global RTLS market with technologically advanced and reliable RTLS solutions. The company also has a broad product portfolio of barcode, kiosk, receipt, and RFID printers as well as supplies. Zebra Technologies acquired WhereNet (U.S.), a provider of active RFID wireless products for $126 million in 2007 to capture the market opportunities presented by the growing RTLS market. The company has been playing a significant role in the development of these solutions and increasing the market acceptance of RTLS solutions worldwide. The company focuses on providing RTLS solutions that align with the standards to ensure interoperability. Zebra Technologies also played an important role in securing the IEEE 802.15.4f and ISO 24730-61 certification for the UWB technology. Also, WhereNet technology was the first multimedia RTLS system that incorporates the open standard of ISO/IEC 24730-2 with IEEE802.11a. As of now, the company operates in the U.S., the U.K., The Netherlands, and China. All of the company’s design and manufacturing sites are ISO 9001 certified. The company is dedicated towards significant investments with regards to its R&D operations and product development, in order to enhance the customer experience and to gain a strong and long-term position in the market. The company also follows a strategy of new product introductions, and expansion of go-to-market channels. Zebra Technologies, currently, is also using retail as an important strategy for penetrating into the existing markets further.
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.
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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