Global Real Time Location System Market
As per the GMI Research report, the Real Time Location System Market will come across an expansion in demand over the forecast period. This is because of their potential to detect signals easily and quickly and work efficiently in congested environments.
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Real Time Location System Market Dynamics
The augmenting demand for tracking assets and inventory and accelerating penetration of smartphones are the foremost factors envisaged to stimulate the growth of the global real-time location system market. Also, the aggravating endorsement of sophisticated business intelligence software solutions has bolstered the market growth. In addition, the extensive acquisition of location system for various applications, such as trailing automobiles via an assembly line, asset tracing across a high-quality retail location, certifying adequate staff levels, recognizing customers in a restaurant for service, and detecting the medical instrument in a hospital, is propelling the demand of real-time location systems.
Besides this, the evolution of industry 4.0 with modernizations in the Internet of Things (IoT), artificial intelligence (AI), and robotics, as well as the surging recognition of the advantages of RTLS in the supply chain management across manufacturing & automotive, healthcare, retail, and transportation & logistics verticals are complementing the real-time location system market size.
However, insufficient awareness, excessive investment in the establishment, and less maintenance cost are some other drivers restraining the market growth. In addition, as per the Real-Time Location Systems Market Forecast, the increasing agitation towards data security and privacy will hinder market growth.
Real Time Location System Market Segmentation:
Segmentation by Technology
- RFID
- Wi-Fi
- Ultra-wideband (UWB)
- Bluetooth Low Energy (BLE)
- Ultrasound
- Infrared (IR)
- GPS
- Others
Segmentation by Application
- Inventory/Asset Tracking & Management
- Personnel Locating & Monitoring
- Access Control & Security
- Environmental Monitoring
- Warehouse Management & Monitoring
- Supply Chain Management
- Others
Segmentation by Vertical
- Healthcare
- Manufacturing & Automotive
- Retail
- Transportation & Logistics
- Government & Defence
- Education
- Oil & Gas
- Sports & Entertainment
- Others
Segmentation by Region:
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- RoW
- UAE
- Brazil
- South Africa
- Saudi Arabia
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