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RFID technology in Real Time Location System (RTLS) Market is Projected to have a Majority Industry Share by 2024

Author : Ronak Bora | Published Date : 2019-04-09 

The demand for Global Real Time Location System (RTLS) Market is anticipated to be high for the next five years. By considering this demand we provide latest industry report which gives complete industry analysis, market outlook, size, growth and forecast till 2024. This report will assist in analyzing the current and future business trends, sales and revenue forecasts.

Based on technology, the real time location system (RTLS) market can be classified into several wireless communication technologies such as Bluetooth Low Energy (BLE), GPS, infrared, Radio Frequency Identification (RFID), ultrasound, Ultra-Wide Band (UWB), WhereNet, Wi-Fi, and ZigBee communications. The RFID technology is anticipated to have a majority share owing to its features such as high accuracy, minimal maintenance fee, and long battery life in comparison to the other wireless communication technologies. In addition, UWB technology is anticipated to grow at a high rate due to features such as usability in acceptable operating range, indoor & outdoor environments, low interference with other signals, and high-precision location identification, making UWB a significant technology in the real time location system (RTLS) market.

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Several industries are implementing the systems owing to the miniaturization of mobile wireless devices and their reasonably pricing. The real time location system (RTLS) market can be classified based on industries into aerospace, education, government & defense, healthcare, hospitality, industrial manufacturing & processing, logistics & transportation, and retail. The healthcare sector is anticipated to show a high growth rate over the forecast time span. Advancements in the healthcare sector are anticipated to offer notable prospects to the industry. The security of electronic records and patients and has majorly driven the demand in the healthcare sector.

Growing government support & initiatives for the usage of these systems and plummeting prices of components is anticipated to increase the adoption of RTLS. In addition, heavy investments in the technology and increasing applications of the solutions across several industry segments will drive the RTLS market growth over the forecast time span. In addition, systems help in enhancing efficiency, accuracy, and operational superiority, resulting in enhanced productivity.

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North America real time location system (RTLS) market held a high market share in 2016, which was majorly driven by growing number of applications in the healthcare segment coupled with the government support & initiatives from the administration. The U.S. market is a major contributor to the RTLS market growth owing to the speedy adoption of RTLS technology in the healthcare sector. Moreover, the presence of major RTLS players in the U.S. is also driving the real time location system (RTLS) market growth.

Some of the major industry players involved in the real time location system (RTLS) market include AeroScout Industrial, AiRISTA, LLC., Awarepoint Corp., BeSpoon SAS, CenTrak, Inc., Decawave Ltd., Ekahau, General Electric Healthcare, Identec Group AG, IMPINJ, Inc., Redpine Signals, Inc., Savi Technology, Sonitor Technologies, Stanley Healthcare, Tele Tracking Technologies, Ubisense Group PLC., Versus Technology, Inc., and Zebra Technologies Corp.

Browse Complete Report Summary @ www.gminsights.com/industry-analysis/real-time-location-system-rtls-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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