Real
Time Location System (RTLS) is a technology
that is used to automatically identify and locate objects, assets or
individuals in real time. The goal of RTLS is to continuously track
location of the
targets. RTLS works with the help of a tag which is
attached to the target from which wireless signals are sent and received by the
readers. The readers are usually fixed at predetermined positions and they
transmit the location data to the software which then interprets the exact
location visually to the end user.
Table of Contents and insights:
The report from IndustryARC on RTLS
systems estimated
the current market size to be around $2.3 billion in 2014. The
Global Real Time Location System Market is estimated to grow to $7 billion
through 2020. The increased demand for RTLS in manufacturing and healthcare is
forecast to drive the market. The increased customer demand for these services
has led to the entry of leading electronics and semiconductor companies
including ABB (Sweden), Honeywell (U.S) and Siemens (Germany) in the market.
This recent report created by IndustryARC examines this market and as well as
the various RTLS technologies utilized by consumers.
North America is currently the biggest
market in 2014 followed by Europe. However the APAC region is poised to grow at
the highest CAGR through 2020. The significant growth in APAC region is due to
more emerging economies are investing significant capital into increasing the
adoption of logistics and manufacturing industries across the supply chains.
Global Real Time Location Systems Market, By Geography, 2014 (%)
Source: IndustryARC Analysis, Expert
Insights
The Global Real Time Location
System Market has
been segmented based on type of technology which are Active
RFID and Passive
RFID. In 2014, Active RFID segment accounted for the majority
share among the technology types. The Active RFID segment is further segmented
into Wi-Fi, Bluetooth, GPS, UWB, Infrared, Ultrasound, Zigbee and
Bluetooth. The improving technology and accuracy provided by Ultra Wide
Band in RTLS is the major driver for this segment. The
Bluetooth RTLS market is
set to exhibit highest growth due to its relatively lower cost and existing
infrastructural footprint, thereby driving demand in manufacturing and
healthcare industries. The falling price of RTLS systems is set to drive
adoption in APAC markets particularly.
Real time location systems
market has
also been analyzed based on end use industry into healthcare, manufacturing,
logistics and retail, defense and security. Logistics and Retail is the
largest market with $750 million in revenue in 2014 followed by healthcare
segment. The manufacturing segment is also poised to exhibit high growth and
become the leading market by 2019, due to the increased end user applications
as well as declining prices resulting in growing demand.
Request for Sample Data /
Brochure:
The RTLS market has been segmented based on application
into asset tracking, work in progress tracking, fleet tracking, shipping
container tracking, personnel tracking and patient activity tracking. Asset
tracking is the biggest market for EPAS systems, accounting for 34% of the
market. Personnel tracking accounts for 12% of the market but is estimated to
be the fastest growing market. This is because personnel tracking application
is currently being used to improve safety and security of employees who work in
hazardous and risk prone environments like mines, petrochemical industries and
in construction industries.
The top 5 companies in terms of revenue operating in the
steering systems market are Ekahau Inc. (U.S), Ubisense Group Plc (U.S),
CenTrak Inc. (U.S), Zebra Technologies (U.S) and Stanley, Black and Decker Inc.
(U.S). They account for around 40% of the total market. The RTLS
companies have
looked to partnerships, product launches and agreements to enhance their market
position. Companies are focusing on agreements and partnerships to utilize a
wide distribution network to improve sales of products. For instance, Intelleflex announced a partnership with InCom Corporation, a RFID based RTLS solution provider to launch
an automated asset tracking RTLS solutions for agrochemical applications.
The declining prices and growing awareness
of RTLS are set to propel the growth of the RTLS market. The growth of the
global real time location systems market can also be attributed to the improved
accuracy as well as growing applications for the RTLS
systems. The increased customer demand for tracking services is
set to drive the RTLS market.
About
IndustryARC:
IndustryARC
is a research and consulting firm that publishes more than 500 reports annually
in various industries, such as Agriculture, Automotive, Automation & Instrumentation,
Chemicals and Materials, Energy and Power, Electronics, Food & Beverages,
Information Technology, Life sciences & Healthcare.
IndustryARC
primarily focuses on Cutting Edge Technologies and Newer Applications of the
Market. Our Custom Research Services are designed to provide insights on the
constant flux in the global demand-supply gap of markets. Our strong analyst
team enables us to meet the client research needs at a very quick speed with a
variety of options for your business.
We look
forward to support the client to be able to better address customer needs; stay
ahead in the market; become the top competitor and get real-time
recommendations on business strategies and deals. Contact us to find out how we
can help you today.
Related Report You May Be Interested:
Next Generation Biometrics Market Analysis by Type of Authentication (Single Factor, Multi-Factor,
Multi-Modal); Biometric Type (IRIS, Face, Fingerprint, Vein); By Application
(Banking, Government, Consumer Electronics, Retail) - Forecast (2014 – 2020)
Wrist Wearable Devices Market Analysis (2013 – 2020): By Components (Power Supply, Sensing, Memory, Display); Products
(Smart watches, Smart bands, Monitoring Devices, Fitness); Applications
(Lifestyle, Medical, Sports, Infotainment)
Optical Sensors Market Analysis:
By Types (Position, Light, Image, Photoelectric, Photodetectors, Motion);
Verticals (Material Handling, Building Automation, Manufacturing, Packaging,
Security & Surveillance) - With Forecast (2015-2020)
For More Reports Click Here:
Media Contact
Company
Name: IndustryARC
Contact
Person: Mr. Venkat
Phone:
1-614-588-8538 (Ext: 101)
No comments:
Post a Comment