MarketsandMarkets report, "Real-Time Locating Systems (RTLS) Market by Offering (Hardware, Software, Services), Technology (RFID, W-Fi, UWB, BLE), Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use case, and Geography - Global Forecast to 2023", The RTLS market is expected to grow from USD 3.19 billion in 2018 to USD 8.79 billion by 2023, at a CAGR of 22.5% between 2018 and 2023. The emergence of innovative startups, market competitiveness, and availability of customized solutions; high return on investment; and regulatory compliance across industries including healthcare, oil & gas, mining, education, and manufacturing are the factors driving the growth of the RTLS market. Concerns regarding data security and privacy and unsatisfactory results and negative feedback from RTLS end users and the high cost of acquisition and maintenance would be the major factors restraining the growth of the market.
Highlights
RFID IN HEALTHCARE
The RFID in Healthcare Consortium (RHCC) is a not-for-profit, subsidiary organization of The Intelligent Health Association (IHA) and operates under its auspices, guidelines, governance, and by-laws. The Consortium was founded on September 13th, 2008 to initially address EMI issues with RFID & RTLS technologies but has recently transformed itself into a full-fledged trade organization. The Consortium is an educationally focused, vendor neutral, technology and frequency agnostic, organization dedicated to promoting the use and adoption of RFID and RTLS technologies in the healthcare, assisted living and nursing home industries. KNOW MORE
- UWB-based RTLS solutions are expected to register the highest growth in the RTLS market during the forecast period
- Education vertical is expected to register the highest growth in the RTLS market during the forecast period
- North America is expected to hold the largest market share in the RTLS market during the forecast period
- The RTLS market is dominated by STANLEY Healthcare (US), Zebra Technologies (US), Aruba Networks (HP Enterprise US), IMPINJ (US), Savi Technology (US), TeleTracking Technologies (US), Ubisense Group (UK), AiRISTA Flow (US), Awarepoint (US), Identec Group (Liechtenstein), and Alien Technology (US) are a few leading players in the RTLS market.
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