PUBLISHER: The Business Research Company | PRODUCT CODE: 1653303
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653303
Real-time Location Systems (RTLS) are systems designed for the automatic recognition and tracking of the real-time location of various entities, ranging from vehicles and products to individuals. RTLS finds applications in fleet tracking, navigation, inventory and asset tracking, personnel tracking, and network security.
The main components of real-time location systems (RTLS) include hardware, software, and services. In RTLS hardware, transmitters are attached to individuals or assets, emitting wireless signals that provide identification and location data to receivers. RTLS receivers, placed throughout the facility, capture signals from tagged assets, identifying their location. Location detection can occur through proximity to receivers or through trilateration, a mathematical technique based on the wireless technology used. Various technologies are employed in RTLS, such as RFID, Wi-Fi, ultra-wideband (UWB), Bluetooth Low Energy (BLE), ultrasound, infrared (IR), GPS, among others. RTLS is utilized in inventory and asset tracking, personnel monitoring, access control and security, environmental monitoring, supply chain management, and operational automation or visibility. It is implemented across various verticals, including transportation and logistics, healthcare, retail, manufacturing and processing, among others.
The real-time location systems (RTLS) market research report is one of a series of new reports from The Business Research Company that provides real-time location systems (RTLS) market statistics, including real-time location systems (RTLS) industry global market size, regional shares, competitors with a real-time location systems (RTLS) market share, detailed real-time location systems (RTLS) market segments, market trends and opportunities, and any further data you may need to thrive in the real-time location systems (RTLS) industry. This real-time location system (RTLS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The real-time location systems (RTLS) market size has grown exponentially in recent years. It will grow from $11.67 billion in 2024 to $14.93 billion in 2025 at a compound annual growth rate (CAGR) of 27.9%. The growth in the historic period can be attributed to increasing demand in manufacturing, logistics and supply chain efficiency, retail inventory management, employee safety and productivity, increased focus on patient care in healthcare.
The real-time location systems (RTLS) market size is expected to see exponential growth in the next few years. It will grow to $42.36 billion in 2029 at a compound annual growth rate (CAGR) of 29.8%. The growth in the forecast period can be attributed to expansion in retail for customer experience, demand for social distancing solutions, focus on sustainability, use in sports and entertainment, government initiatives for public safety. Major trends in the forecast period include indoor navigation solutions, growth in logistics and supply chain, ultra-wideband (UWB) technology adoption, cloud-based RTLS solutions, privacy concerns and ethical considerations, integration with data analytics and AI.
The rising demand for smartphones is anticipated to drive the growth of the real-time location system (RTLS) market in the coming years. A smartphone is a portable electronic device that connects to a cellular network, allowing users to make phone calls, send text messages, and access the internet. The growing global population has contributed to the increased demand for smartphones. These devices are utilized in incident response and emergency management due to RTLS innovations, which enable the automatic detection and tracking of the location of objects or individuals in real-time. For example, in March 2023, a report published by Cybercrew, a UK-based provider of cybersecurity solutions for businesses of all sizes, projected that the percentage of UK households using smartphones would rise to 93.8% by 2026. Therefore, the increasing demand for smartphones is fueling the growth of the real-time location system (RTLS) market.
The expanding healthcare sector has contributed to the growth of the real-time location system (RTLS) market. This sector includes a wide array of organizations, professionals, and institutions focused on the maintenance, improvement, and delivery of medical and wellness services to individuals and communities. RTLS solutions are widely adopted in healthcare facilities, such as hospitals and clinics, to enhance patient care, streamline operations, and improve asset management. These systems allow for real-time tracking of medical equipment, patients, and healthcare personnel, resulting in increased operational efficiency, reduced wait times, and improved patient safety. Additionally, the rising focus on patient experience and compliance with regulatory standards in healthcare has spurred the demand for RTLS solutions. For example, in September 2024, The Centers for Medicare & Medicaid Services, a U.S. federal agency, reported that U.S. healthcare spending rose by 4.1% in 2022, totaling $4.5 trillion, or $13,493 per person, which accounted for 17.3% of the nation's Gross Domestic Product. Thus, the growing healthcare sector is driving the expansion of the real-time location system (RTLS) market.
Major companies in the real-time location system (RTLS) industry are concentrating on developing technological solutions for the real-time tracking and monitoring of assets and employees. For example, in October 2024, WISER Systems, Inc., a U.S.-based company that specializes in manufacturing and supply, introduced a new generation of Real-Time Location Systems. These RTLS systems enable precise wireless tracking of thousands of tagged items in real time, even in congested, metal-filled environments. Designed for easy installation, these systems can monitor assets both indoors and outdoors, providing a clear visual representation of facilities with high accuracy and no delays.
Major companies in the real-time location system (RTLS) market are concentrating on innovative products to boost their revenues. This involves advanced tracking and monitoring solutions that utilize cutting-edge technologies to deliver real-time, accurate, and versatile location information for assets, people, or objects across various applications and industries. For example, in March 2024, RFiD Discovery, a UK-based software company, launched LiftTrak. LiftTrak is a real-time tracking system designed for warehouses and outdoor storage areas. It aims to provide precise and efficient inventory tracking, enhancing visibility and management in different environments. Functioning as a real-time system for tracking inventory both indoors and outdoors, this capability improves operational efficiency and facilitates better decision-making. Overall, LiftTrak is intended to streamline inventory management processes.
In July 2022, Securitas AB, a Sweden-based security services company, acquired Stanley Black and Decker Inc. for $3. 2 billion. This acquisition positions Securitas to offer enhanced safety solutions globally. Stanley Black and Decker Inc., a US-based company, is recognized for providing real-time location system (RTLS) solutions, further consolidating the market's strength.
Major companies operating in the real-time location systems (RTLS) market include Zebra Technologies Corp., Stanley Healthcare, CenTrak Inc., Ubisense Group PLC, TeleTracking Technologies Inc., Sonitor Technologies AS, AeroScout Industrial, DecaWave Limited, Midmark Rtls Solutions Inc., AiRISTA Flow Inc., Savi Technology, Lockheed Martin Corporation, GE HealthCare Technologies Inc., Impinj Inc., Identec Group AG, Ekahau, Securitas AB, Aruba Networks, Alien Technology LLC, Mirion Technologies, Axcess International Inc., Awarepoint Corporation, Cerner Corporation, Elpas Solutions, Infor Inc., Intelligent InSites Inc., Mojix Inc., Navis, PLUS Location Systems, Redpine Signals Inc., RF Technologies Inc.
North America was the largest region in the real-time location systems (RTLS) in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time location systems (rtls) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the real-time location systems (rtls) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The realtime location center market includes revenues earned by entities by showing real time tracking status of objects and providing data-based insights. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Real-Time Location Systems (RTLS) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on real-time location systems (rtls) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for real-time location systems (rtls) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The real-time location systems (rtls) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.