Real-time Location System (RTLS) Market Growth Factors, Competitive Landscape and Revenue Forecast till 2023
Increasing initiatives by government, and high expenditures in RTLS technology are likely to drive the growth. The other driving factors include increasing applications into several industries, and advanced features of RTLS.
(firmenpresse) - The worldwide real-time location system (RTLS) market is projected to exhibit a healthy CAGR during the forecast period. A Real-time location system (RTLS) implies locating, identifying, tracking, positioning the geographical location of an object by using tags or nodes or in real time.
Increasing initiatives by government, and high expenditures in RTLS technology are likely to drive the growth. The other driving factors include increasing applications into several industries, and advanced features of RTLS. However, lack of standardization and knowledge among enterprises are likely to hamper the real time location system (RTLS) market in the forecast period.
On October 10, 2017, Nanotron Technologies GmbH and Smartbow GmbH asserted of entering into an exclusive source contract for nanoLOC location chips. The resultant product is used in both - the Nanotron-provided receiver and the Smartbow ear tag.
On February 2, 2018, at Berlin (Germany), Location-awareness expert “Nanotron Technologies GmbH” asserted of offering improved location awareness for the Internet of Things over location data analytics. In addition, Nanotron’s products comprise smart modules, location software, and location chips, which allow concurrent wireless data communication and accurate real-time positioning.
The upcoming trend in real-time location system (RTLS) is emergence of Bluetooth Low-Energy (BLE) beacons, which have become simpler and cheaper to incorporate into the other systems owing to the widespread acceptance of Bluetooth. North America is one of the prominent regions and will continue to account for a large share in the market throughout the forecast period, owing to growing applications in healthcare sector and government initiatives and support.
Leading players operating in the Real-time Location System (RTLS) market include Zebra Technologies Corp., tanley Healthcare Solutions (Aero Scout, Inc.), Versus Technology, Inc., TeleTracking Technologies, Inc., Axcess International, Inc., Sonitor Technologies AS, Aware point Corp., and Ubisense Group PLC. B, SAVI Technology, and DecaWave Limited. Mergers, expansions, acquisitions, and new product development are some of the most extensively accepted strategies by industry companies, both small and large.
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