Dallas, TX (PRWEB) June 23, 2014
The ever growing need of achieving optimum resource utilization in different industries paved a path for location-based systems such as Real-Time Location Systems. In an enterprise, these systems facilitate location tracking and management of assets/personnel in real time thus resulting into improved operational efficiency and staff productivity. RTLS solutions have numerous applications in industries such as healthcare, manufacturing, logistics & transportation, government & defense, mining, oil & gas, retail, hospitality, education, and many others. Presently, healthcare is the largest market for RTLS solutions and industrial manufacturing is estimated to be the fastest-growing industry vertical with a huge market potential in the forecast period from 2013 to 2020 says the report at http://www.reportsnreports.com/reports/274311-real-time-location-systems-rtls-market-by-product-tags-sensors-software-technology-wi-fi-rfid-infrared-ultrasound-uwb-zigbee-application-industry-vertical-healthcare-logistics-manufacturing-retail-geography-2013-2020.html.
However, the future potential market for real-time location-based solutions includes industrial manufacturing such as automotive manufacturing, aerospace manufacturing & others, and process industries such as mining and oil & gas. These two industry verticals are estimated to be the emerging markets with a promising future and tremendous growth rate over the forecasted period from 2013 to 2020. In technology, Wi-Fi based RTLS solutions have a major advantage over other proprietary technologies such as UWB, Zigbee, and others; that is, this type of RTLS solution utilizes the existing Wi-Fi infrastructure of an enterprise, which results in cost and time savings. Active RFID and Wi-Fi based RTLS solutions are the major market shareholders in the global RTLS market and both these technologies hold a very promising future in the coming years as well. However, emerging technologies such as UWB and Zigbee are projected to be the fastest-growing technologies with tremendous growth potential, mainly due to the high accuracy and precision offered by these technologies over Wi-Fi and other traditional technologies.
The overall Real-Time Location Systems market is expected to reach $ 3.70 billion by 2020 at an estimated CAGR of 31.2% from 2013 to 2020.The major driving factors for RTLS markets growth include rapid increase in RTLS applications, rising customer awareness, increasing security & safety concerns in process industries (mining, oil & gas) & defense, technological advancements in hardware & software, declining cost of tags, and optimum resource utilization through real-time asset/personnel location tracking. In this research study, different technologies such as RFID, Wi-Fi, ultrasound, infrared, Zigbee, Ultra wideband, GPS, and others are discussed in detail with qualitative as well as quantitative data. The overall market is also segmented by different product segments – hardware, software, and services; industry verticals – healthcare, logistics, manufacturing, process industries, government & defense, retail, hospitality, and education; applications- asset/ personnel tracking and management, patient safety and environment sensing & monitoring; and geography – Americas, Europe, APAC, and ROW. All the major segments are further segregated into sub-market segments. All the segments and sub-segments are separately described in the report.
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The ever increasing applications of RTLS are motivating existing market players as well as new startups to come forward to capture the growth opportunities. Some of the major companies active in this market include AeroScout (U.S.), Awarepoint (U.S.), Zebra Technologies (U.S.), Centrak (U.S.), Ekahau (U.S.), GE Healthcare (U.K.), Identec Solutions (Austria), Intelligent InSites (U.S.), Motorola Solutions (U.S.), PINC Solutions (U.S.), Sonitor Technologies (Norway), TeleTracking Technologies (U.S.), Ubisense (U.K.), Versus Technology (U.S.), and Axcess International (U.S.), among others.
Location Based Services (LBS) Market (Mapping, Discovery and Infotainment, Location Analytics, Leisure and Social Networking, Location Based Advertising, Augmented Reality and Gaming, Tracking) – Worldwide Forecasts and Analysis (2014 – 2019): The report will help the market leaders/new entrants in this market in the following ways: