Industry Background:
The global real-time locating systems market is expected to gain prominence over the forecast period owing to the optimum utilization of resources and decreased prices of RTLS solutions. Real-time locating systems (RTLS) offer easy identification and tracking of assets which include tools, containers, medical equipment, and trailers. Additionally, RTLS is finding increasing applications in warehouses, correctional facilities, and retail stores, among others, where it aids in the immediate location of the target and tracking of any misplaced items among others. This, in turn, has been further fuelling the growth of the market.
This growth is primarily driven by The rise in need for asset tracking, the proliferation of smartphones, the surge in adoption of business analytics solutions and the rise in awareness about the benefits of the real-time location system.
Globally, a noticeable market trend is evident Increased government support for the promotion of RTLS solutions is expected to favorably impact the RTLS market. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as STANLEY Healthcare (United States), Zebra Technologies (United States), Aruba Networks (United States), IMPINJ (United States), Savi Technology (United States), TeleTracking Technologies (United States), Ubisense Group (United Kingdom), AiRISTA Flow (United States), Awarepoint (United States), Identec Group (Liechtenstein), Alien Technology (United States), GE Healthcare (United States), Cisco Systems (United States) and Cerner Corp. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2018, STANLEY Healthcare launched a cloud-based IoT solution for real-time monitoring applications, especially in the healthcare sector. It supports multiple sensors and has the scalability to cover from a few devices in one location to thousands of devices across multiple sites
Market Drivers
- The rise in need for asset tracking, the proliferation of smartphones, the surge in adoption of business analytics solutions
- the rise in awareness about the benefits of the real-time location system
Market Trend
- Increased government support for the promotion of RTLS solutions is expected to favorably impact the RTLS market
Restraints
- The Growing Concern of Operational Challenges
- Concerns Regarding Data Security and Privacy
Opportunities
technological advancements and blending of technologies by key vendors to offer effective RTLS applications and Emerging opportunities in government and defense sectors
Challenges
The Issue related to High Initial Costs
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Real-time Location System (RTLS) Study Sheds Light on
The Real-time Location System (RTLS) Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Real-time Location System (RTLS) industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Real-time Location System (RTLS) industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.