The global real-time location system market is progressing more dynamically, as compared to its conventional counterparts, such as radio-frequency identification (RFID). This is due to the widespread acceptance of technologies, such as global positioning system (GPS) and Wi-Fi. The growing demand of real-time location system, in security and surveillance, and inventory management sectors, is driving the expansion of the RLTS market. The improving accuracy, increasing government expenditure on defense and homeland security, and affordable pricing of the real-time location system equipment, has also increased the market penetration, in past few years. The real-time location system based on ultra wide band (UWD), and ZigBee technology is gaining popularity among the end users, which is attributed to its high and precise location sensing capability, even within the smallest area. The ability to track location in mediums, such as concrete wall, or other substances is another advantage of these types of RTLS. The ZigBee and UWD real-time location services market is expected to grow, at a moderate rate, during the forecast period. Wi-Fi and RFID based real-time location system has the largest market share, owing to their wide spread use and cost benefits, over the other types of real-time location system market.
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Lack of stiff regulation towards a user’s data privacy is one of the major concerns, for the real time location systems market. However, regulations such as Stalking Apps Bill and GPS act, has fueled the market penetration, in the past few years. Moreover, with proposal of various new privacy regulations, such as General Data Protection (which is soon going to be employed in 2016 by European Union), is expected to minimize the privacy issues, during the forecast period. Moreover, lack of consumer awareness towards RTLS technology in the developing regions, such as Asia Pacific, South America, and Africa is hindering the wide spread acceptance of the real-time location system market.
Based on products, the global real-time location system market can be broadly classified, into hardware, software, and services. On the basis of technology, the real-time location system market can be segmented, as Radio-frequency identification (RFID), WI-FI, infrared, ultra wide band (UWB), ZigBee, ultrasound, and others. Based on the application, the RTLS market can be segmented, as healthcare, industrial, manufacturing, transportation and logistics, government and defense, process industries, hospitality, retail, education and others.
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North America accounted the largest market share of real-time location system in 2014, followed by Europe. Asia Pacific is expected to be the fastest growing real-time location system (RLTS) market, during 2015-2020. The demand for real-time location services from Japan, China, Australia, and India, is driving the growth of the real-time location system market in Asia Pacific. The growth in industrial manufacturing, processing industries, retail, and transportation and logistics, in Asia Pacific are some of the major driver for the expansion of the RTLS market in the region. The RTLS market in Asia Pacific is also expected to benefit from the expansion of product and service offerings, of the few major global players in the region. U.S. has been the leader of the North American RTLS market. On the other hand, Germany, France, Italy, Spain, and U.K., are the major geo-divisions of the RTLS market in Europe. China, India, and Japan, are the key geo-divisions of the Asia-Pacific RTLS market.
Some of the competitors in the real-time location system (RTLS) market are Centrak Inc., Ekahau Inc., Versus Technology Inc., Identec Group AG, Awarepoint Corporation, Savi Technology Inc., Teletracking Technologies Inc., Zebra Technologies Corporation, Ubisense Group PLC., and Aeroscout Inc.
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