Market SynopsisAs per the research by Market Research Future Reports (MRFR), the global real-time locating systems market is estimated to value USD 6 billion, growing at a CAGR of 28% during the forecast period from 2016 to 2022.
RTLS has applications in various sectors such as retail, government, transportation and & logistics, and industrial manufacturing, which expands the market.
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(U.K.), Savi Technology (U.S.), IMPINJ, Inc. (U.S.), AiRISTA, LLC (U.S.), Versus Technology, Inc. (U.S.), CenTrak, Inc. (U.S.), Identec Group AG (Liechtenstein), Decawave Ltd. (Ireland), Redpine Signals, Inc. (U.S.), Awarepoint Corp. (U.S.), and others.
Market SegmentationThe global real-time locating systems market can be segregated on the basis of technology, industry, application, components, and region.On the basis of technology, the global real-time locating systems market can be classified into GPS, Wi-Fi, RFID, UWB, and others.On the basis of industry, the global real-time locating systems market can be classified into banking, manufacturing, healthcare, automotive, aerospace & defense, and oil & gas, among others.On the basis of application, the global real-time locating systems market can be classified into personal tracking, asset tracking, and inventory tracking, among others.On the basis of components, the global real-time locating systems market can be classified into hardware and software.On the basis of region, the global real-time locating systems market can be classified into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).Regional AnalysisThe regional analysis of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been conducted.
The growing usage of RTLS in the healthcare sector and BFSI has resulted in the expansion of the market in Europe.On the other hand, the APAC region is estimated to expand at the fastest pace owing to the presence of India and China, which are the fastest-growing economies of the world.