The global Real Time Locating Systems (RTLS) market was worth $11.7 billion and it is anticipated to grow to $43.7 billion by 2020 at a CAGR of 20.7% from 2013 to 2020.GPS has come out to be a market leader among all RTLS technologies surpassing active RFID and it is expected to grow at a CAGR of 23.8% between 2013 and 2020 to reach market revenue of $15 billion in 2020. The higher adoption of GPS technology can easily be credited to its enhanced accuracy levels and application in tracking high valued assets such as airplanes and cargo ships.
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Active RFID was one of the most dominant RTLS technologies as it is standalone technology used in asset tracking and other real time applications;
This report focuses on key factors impacting the RTLS market for planning of the industrial positioning. It informs interested parties about the scope of various technologies used in the market and its implementation in various industry verticals.
Some of the driving factors of the market are precise tracking of assets, easy implementation in complex settings, interests from government department, increase in operation efficiency of organizations, and return on investment. However, there are some factors that act as a hindrance for its growth such as privacy concerns, additional cost for organizations and lack of technological standards. The growth opportunities for key players are because of the new technologies that offer RTLS solution makers better options for developing new products and the emerging nations are expected to have higher growth rates along with sustained growth in U.S. and other developed nations.
Global Real Time Location Systems (RTLS) Market Overview
RTLS Market by Technology
RTLS Market by Application
RTLS Market by Geography
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