RFID Technology Responsible for Highest Revenue Share in the Global RTLS Market
Real-Time Location Systems (RTLS) have very accurate tracking capabilities making them very popular to increase business productivity. RTLS are used to track various tools such as medical tools, containers, trailers and animals in real time. The location engine and object to be tracked have real time continuous communication which results in the generation of very precise information for organizations that adopt RTLS.
>RTLS is advantageous to companies for a number of reasons including reduction of waste and cost, theft or misplacement. As a result of such advantages, RTLS is expected to be adopted in high numbers in the near future especially in the healthcare, logistics, transportation, manufacturing and government industries. Healthcare has been one of the first markets that has adopted RTLS for the purpose of tracking patients, applications and medical equipment.
In terms of technology, RFID led the global RTLS market with highest revenue share in the last few years. This was mainly due to advanced features of RFID technology such as high accuracy, low cost, long battery life of tags, and low maintenance costs as compared to WI-Fi. However, ZigBee and UWB are emerging technologies with tremendous market potential, mainly due to long battery life, enhanced accuracy and high location precision. One of the most significant advantages of Wi-Fi in RTLS is the ease of deployment. Wi-Fi based RTLS systems are mostly deployed in organizations with an existing Wi-Fi network.
The research study titled “Real Time Location Systems (End-use Industry-Healthcare, Transportation and Logistics, Manufacturing and Process industries, Government and Defense, Hospitality and Retail, and Others) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” provides in-depth analysis of the market and related sub-segments. The report strategically focuses on market segments based on technology types, and end-use industries and provides market insights and data about the size and growth of each segment. The report includes detailed analysis of the prevalent market trends and company profiles. To provide better understanding of the competition in market, the report also includes Porter’s five force model analysis, value chain analysis, and market attractiveness analysis. The study on the global RTLS market has been conducted with an objective of providing a thorough coverage of underlying technological and economic issues driving the adoption of RTLS solutions. The report provides market data and forecast for the various RTLS technologies, and end-use industry segments with an in-depth analysis of the global market, which has been further segmented on the basis of major geographical regions, from 2012 to 2020. The segmentation has been done to provide strategic insights for each category, enabling stakeholders across the value chain to gain considerable business intelligence.
The report aims to provide a comprehensive overview of market data and trends in North America, Europe, Asia-Pacific and Rest of the World (RoW) for emerging RTLS solutions. In addition, the report identifies factors driving and restraining growth and future business opportunities in the RTLS market. The competitive landscape section in the report provides market share analysis of major players in the global market in 2013.