Lucintel Forecasts Real-Time Location System Market to Grow at a CAGR of 23% to 25% from 2021 to 2026

According to the recent study the real-time location system market is projected to grow at a CAGR of 23% to 25% from 2021 to 2026. Growth in this market is primarily driven by increasing need for asset tracking, growth in smartphones, and surge in the adoption of business analytics solutions.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in real-time location system market by component (hardware and software), application (tracking and navigation, marketing and advertising, location-based social networks, location-based health monitoring, and others), end use industry (healthcare, manufacturing & automotive, retail, transportation & logistics, governments & defense, education, oil & gas and mining, sports & entertainment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Hardware market is expected to remain the largest segment during the forecast period.”

Based on component, the real-time location system market is segmented into hardware and software. Lucintel forecasts that the hardware market is expected to remain the largest segment due to the abundant availability of affordably priced sensors and growing awareness of the benefits of RTLS technology.

“Within the real-time location system market, the healthcare segment is expected to remain the largest end use industry.”

Based on end use industry the healthcare segment is expected to witness the highest growth over the forecast period due to the adoption of RTLS-based technologies for a wide variety of healthcare applications, such as asset tracking and monitoring, handheld hygiene compliance, and environmental monitoring.

“North America will dominate the real-time location system market in near future.”

North America will remain the largest region during the forecast period due to the increasing demand for RTLS applications in the healthcare and manufacturing & processing sectors, presence of a major number of RTLS vendors, and wide-scale adoption of mobility solutions.

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Major players of real-time location system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Stanley Black & Decker Inc., Redpine Signals Inc, Zebra Technologies Corp., Versus Technology, Inc., Lockheed Martin Corporation, Sonitor Technologies, TeleTracking Technologies, Inc., CenTrak, DecaWave Limited, and Ubisense Ltd are among the major real-time location system providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/real-time-location-system-market.aspx or helpdesk@lucintel.com.

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Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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