Global RTLS Market 2017-2021
The RTLS is technology is used to find, track, manage, and identify the geographical position of a target on a real-time basis. This is done with the help of nodes or tags and readers. Nodes or tags are embedded in smartphones or navigational devices, through which a user can easily track an object.
Technavio’s analysts forecast the global RTLS market to grow at a CAGR of 46.47% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global RTLS market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of RTLS.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global RTLS Market 2017-2021
Technavio recognizes the following companies as the key players in the global RTLS market: AiRISTA, HP, STANLEY Healthcare, Ubisense, and Zebra
Other Prominent Vendors in the market are: Awarepoint, BeSpoon, Convergence Systems, DecaWave, Essensium, GE Healthcare, HID, IBM, Idolink, Identec Solutions, Intelligent Insites, Kinexon Precision Technologies, Mojix, OATSystems, PINC Solutions, Plus Location Systems, Q-Track, Radianse, RF Technologies, Sewio, Sonitor Technologies, Teletracking Technologies, ThingMagic, Tyco Security Products, and Versus Technology
Commenting on the report, an analyst from Technavio’s team said: “The UWB RTLS technology offers high accuracy over short-to-medium distances and is inexpensive compared with other RTLS technologies. The technology is also considered to be useful for short-range and low-data-rate communications. UWB has a high data rate that can reach 100 Mbps, which is a good solution for near-field data transmission. The potential of UWB RTLS to deliver accurate results in high-ranging applications (such as communication and sensors, positioning and tracking, and radar) is beneficial for end-users. This technology is also useful for applications that require high accuracy because it offers precise location at fewer than 300 meters.”
According to the report, RFID tags are broadly used across numerous sectors, such as logistics, automotive, construction, mining, oil and gas, retail, healthcare, sports, and education, for asset tracking and workforce management. These tags help sectors to enhance its efficiency and effectiveness of various operations. The cost of RFID tags is declining exponentially due to the increase in its adoption rate and competition among vendors in the industry. In 2014, the price of RFID tags had declined to 30%-40% as compared with the cost in 2012.
Further, the report states that despite numerous advantages, RTLS also brings challenges to its enterprise users. The implementation of RTLS is expensive because of its high initial deployment cost. This will prompt manufacturers to opt for low-cost technologies such as barcode systems. The cost of RTLS includes expenses involved in planning and design, cabling, software licenses, and location hardware such as signposts and readers. A full-fledged implementation of RTLS in a large manufacturing company costs between $10 million and $30 million. This initial cost varies from industry to industry.
AiRISTA, HP, STANLEY Healthcare, Ubisense, Zebra, Awarepoint, BeSpoon, Convergence Systems, DecaWave, Essensium, GE Healthcare, HID, IBM, Idolink, Identec Solutions, Intelligent Insites, Kinexon Precision Technologies, Mojix, OATSystems, PINC Solutions, Plus Location Systems, Q-Track, Radianse, RF Technologies, Sewio, Sonitor Technologies, Teletracking Technologies, ThingMagic, Tyco Security Products, Versus Technology.