The global real time location systems market size reached around USD 8.96 Billion in 2024. The market is projected to grow at a CAGR of 24.50% between 2025 and 2034 to reach nearly USD 80.17 Billion by 2034.
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Global Real Time Location Systems Market Growth
With the continuous growth of average warehouse size each year, the warehouse industry is witnessing an increasing demand for space over 181,370 sq. ft. By the end of 2024, 87% of managers involved in the warehousing industry intent to extend their warehousing units, with 77% of organisations shifting towards the implementation of automated warehousing systems to maximise data-based decision-making. This is expected to favourably impact the real time location systems market dynamics in the coming years.
Around 38% of all US warehousing companies are planning to integrate barcode scanners and SKUs (stock-keeping units) into their facilities, which can substantially reduce their labour costs (comprising 50%-70% of the company’s budget). Around 89% of all warehousing distribution centres rely on racks and shelves for inventory management. With the shift towards RLTS, companies can substantially streamline their operational workflows and enhance their productivity. This is expected to drive the real time location systems market expansion in upcoming years.
Over the forecast period, Wi-Fi-based RTLS are expected to become increasingly popular due to their cost-effectiveness and scalability, which makes them ideal for indoor environments such as hospitals and offices. This is expected to favour the demand for BLE (Bluetooth in Low Energy Tags) which are renowned for the development of proximity-based applications and low power consumption features.
Key Trends and Developments
The establishment of smart cities; technological advancements; miniaturisation of RTLS hardware; and integration of RTLS with AI and ML are the major factors favouring the real time location systems market growth
July 2024
Spectralink, a leading provider of enterprise mobile solutions, announced a collaboration with Sonitor, an RTLS provider company, to integrate Sonitor MDuress technology into Spectralink Versity 97 and Spectralink Veristy 95 smartphones. This is expected to enhance the safety and security of healthcare professionals in challenging settings.
April 2023
Siemens introduced its "Location Intelligence" software at an exhibition show “PROMAT 2023” to diversify its range of solutions for warehousing performance management. This enhances its SIMATIC RTLS platform and is expected to provide a comprehensive real-time analysis of order status and material flow to improve the efficiency and quality of operations.
November 2021
Halma plc, a UK-based company, acquired Infinite Leap Inc, a leading healthcare consultancy and RLTS service provider to supplement its existing offerings under its medical business, “CenTrak”.
July 2020
Advantech, a Taiwan-based manufacturer of industrial computing platform solutions, launched its real-time location system (RTLS) solution-ready package (SRP) that was designed for real-time location and monitoring of patients, staff, and medical equipment manufacturers. This is expected to reduce documentation errors, increase equipment utilisation, and improve hospital workflows.
Establishment of smart cities
RTLS can contribute to enhancing the levels of public safety in smart cities by facilitating resource management and urban planning.
Technological advancements
Technological breakthroughs in Bluetooth Low Energy (BLE) technology have enabled the precise tracking of people and objects down to the centimetre level in manufacturing, retail, and healthcare settings. This is expected to fuel the real time location systems market development.
Miniaturisation of RTLS hardware
The miniaturisation of RTLS hardware can fuel the development of energy-efficient RFID sensors and tags, which can make it simpler to track small-size objects and deploy different systems in diverse environments.
Integration of RTLS with AI and ML
By integrating RTLS with artificial intelligence and machine learning tools, machines can become capable of performing automated decision-making and predictive analysis tasks, thereby driving operational efficiency.
Global Real Time Location Systems Market Trends
The increasing application of RTLS in the healthcare industry is expected to lead to the market growth. As per the real time location systems market analysis, healthcare professionals are 5 times more vulnerable to experiencing hostility at the workplace. This poses significant risks related to the incapacitation of people on duty. Around 44% of healthcare professionals prioritise workplace safety before choosing where to work.
Global Real Time Location Systems Industry Segmentation
The EMR’s report titled “Global Real Time Location Systems Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Offering:
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