Abstract
Summary
The RTLS market is estimated to be valued at USD 3.9 billion in 2021 and reach USD 12.7 billion by 2026, at a CAGR of 26.5%. The increasing regulations in various industries to improve safety, workflow, and security and increasing popularity of ultra-wideband technology-based RTLS solutions are the key factors that will accelerate the growth of the RTLS market during the forecast period. Likewise, growing need for contact-tracing solutions due to COVID-19 pandemic and growing trend of hybrid RTLS solution are expected to create lucrative opportunities for the players in the RTLS market. However, high cost of installation and maintenance and stringent government rules and regulation are expected to restraint market growth.
Healthcare vertical is expected to dominate in the RTLS market during the forecast period
The healthcare vertical is expected to continue to account for the largest market size during the forecast period. The growth of the healthcare vertical can be attributed to the early adoption of RTLS-based solutions for a wide range of applications in healthcare, especially in the US. The growing usage of IoT devices in the healthcare sector is also expected to contribute to the growth of the RTLS market in the healthcare vertical. Concerns over the safety of patients and security of electronic health records and valuable assets have also encouraged the adoption of RTLS solutions in healthcare.
Supply chain management & operational automation/visibility application expected to witness the highest CAGR in the RTLS display market during the forecast period
The supply chain management & operational automation/visibility application is expected to witness the highest CAGR in the RTLS market during the forecast period. RTLS solutions are gaining popularity for locating inventory in warehouses, as well as throughout the supply chains. RTLS technologies allow better visualization of supply chain dynamics in real-time. As companies move toward Industry 4.0, they demand greater visibility for faster decision-making. Real-time data of supply chain operations allows quicker response times to make any alterations in normal operations.
North America is attributed to hold the largest share in overall RTLS market during the forecast period (2021-2026)
North America is expected to hold the largest share of the global RTLS market by 2026. Electronic giants in North American region are adopting RTLS technologies. For instance, Impinj introduced three next-generation RAIN RFID reader chips that enable IoT device makers to meet the increasing demand for item connectivity in retail, supply chain and logistics. Also, TeleTracking Technologies launched SynapseIQ, a powerful, cloud-based, analytics solution that delivers actionable insight and enterprise-wide visibility for health systems with timely data. The solution helps to increase accountability for staff across organizations, reduce operating costs, and increase overall system performance. Key players in the RTLS market are grabbing opportunities by indulging in agreements, partnerships and acquisitions. Product development, expansions, and R7D investments were a few of the other strategies adopted by companies in this market to strengthen their market position.
.
• By Company Type: Tier 1 - 27%, Tier 2 - 41%, and Tier 3 - 32%
• By Designation: C-level Executives - 26%, Director Level - 40%, and Others - 34%
• By Region: North America - 47%, Europe - 28%, APAC - 19%, and RoW - 6%
The report profiles key players in the RTLS market and analyzes their market ranking. Players profiled in this report are Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), Savi Technology (US), TeleTracking Technologies (US), Ubisense (UK), AiRISTA Flow (US), Sonitor (Connecticut), Alien Technology (US), Decawave (Ireland), Redpine Signals (US) CenTrack (US), OpenRTLS (US), Litum Technologies (US), GE Healthcare (US), and BlueIOT (US).
Research Coverage:
This research report categorizes RTLS market by offering, by technology, by application, by vertical, and by region. The report also describes the drivers, restraints, opportunities, and challenges of this market. Further, the report includes the value chain analysis, porter’s five forces analysis, trade analysis, ecosystem, technological trends, key patents, standards and frameworks, and case studies/use cases.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the RTLS market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes product launches and developments, collaborations and acquisitions.
4. This report would help understand the pre and post-COVID-19 scenarios as to how would the penetration of RTLS will look like for the forecast period. The region segment includes the country-wise impact analysis of COVID-19 and initiatives taken to overcome these impacts.
Table of Contents
1 INTRODUCTION 27
1.1 OBJECTIVES OF STUDY 27
1.2 MARKET DEFINITION 27
1.2.1 INCLUSIONS AND EXCLUSIONS 28
1.3 SUMMARY OF CHANGES 29
1.4 SCOPE OF STUDY 29
1.4.1 MARKETS COVERED: RTLS MARKET 29
1.4.2 GEOGRAPHIC SCOPE 30
1.4.3 YEARS CONSIDERED FOR STUDY 30
1.5 CURRENCY 31
1.6 PACKAGE SIZE 31
1.7 LIMITATIONS 31
1.8 STAKEHOLDERS 31
2 RESEARCH METHODOLOGY 32
2.1 RESEARCH DATA 32
2.1.1 SECONDARY AND PRIMARY RESEARCH 34
2.1.2 SECONDARY DATA 34
- 2.1.2.1 Secondary sources 35
- 2.1.2.2 Key secondary sources 35
2.1.3 PRIMARY DATA 35
- 2.1.3.1 Key industry insights 36
- 2.1.3.2 Primary interviews with experts 37
- 2.1.3.3 List of key primary respondents 37
- 2.1.3.4 Breakdown of primaries 37
2.2 MARKET SIZE ESTIMATION 38
2.2.1 BOTTOM-UP APPROACH 38
- 2.2.1.1 Approach for arriving at market share by bottom-up approach 38
2.2.2 TOP-DOWN APPROACH 39
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 40
2.4 RESEARCH ASSUMPTIONS 41
2.5 LIMITATIONS 42
2.6 RISK ASSESSMENT 42
3 EXECUTIVE SUMMARY 43
3.1 RTLS MARKET: POST COVID-19 44
3.1.1 REALISTIC SCENARIO(POST-COVID-19) 44
3.1.2 PESSIMISTIC SCENARIO (POST-COVID-19) 44
3.1.3 OPTIMISTIC SCENARIO (POST-COVID-19) 45
4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN RTLS MARKET 49
4.2 RTLS MARKET, BY OFFERING 49
4.3 RTLS MARKET, BY TECHNOLOGY 50
4.4 RTLS MARKET, BY APPLICATION 50
4.5 RTLS MARKET, BY COUNTRY (2021) 51
5 MARKET OVERVIEW 52
5.1 INTRODUCTION 52
5.2 MARKET DYNAMICS 52
5.2.1 DRIVERS 53
- 5.2.1.1 Rise in market competitiveness leading to availability of cost-effective RTLS solutions 53
- 5.2.1.2 High return on investment 54
- 5.2.1.3 Increase in regulations in various industries to improve safety, workflow, and security to drive RTLS market 55
- 5.2.1.4 Increase in popularity of UWB technology-based RTLS solutions 56
- 5.2.1.5 Ability of RTLS solutions to help healthcare organizations check spread of COVID-19 56
5.2.2 RESTRAINTS 57
- 5.2.2.1 Concerns regarding data security and privacy inhibit adoption of RTLS 57
- 5.2.2.2 High costs of installation and maintenance restricts RTLS market growth 58
- 5.2.2.3 Unsatisfactory results and negative feedback from RTLS end users 58
- 5.2.2.4 Stringent government rules and regulations 59
5.2.3 OPPORTUNITIES 59
- 5.2.3.1 Growing need for contact-tracing solutions due to COVID-19 pandemic 60
- 5.2.3.2 BLE and UWB for indoor proximity services 60
- 5.2.3.3 Growth of Hybrid RTLS solutions 61
- 5.2.3.4 Focus on Industry 4.0, IoT, and smart manufacturing 61
- 5.2.3.5 Emerging applications/use cases of RTLS 62
- 5.2.3.6 Soaring demand for RTLS solutions in developing regions 62
5.2.4 CHALLENGES 63
- 5.2.4.1 Designing RTLS solutions that fulfill high accuracy, high range, and low power consumption requirements 63
- 5.2.4.2 System incompatibility, lack of uniform standards, and interoperability 64
- 5.2.4.3 Lack of awareness about RTLS solutions and expert workforce restricting market growth 64
- 5.2.4.4 Hindrance in RTLS market supply chain due to COVID-19 65
- 5.2.4.5 Lack of standards in RTLS market 65
5.3 VALUE CHAIN ANALYSIS 65
5.3.1 ELECTRONIC EQUIPMENT AND COMPONENTS 66
5.3.2 CONNECTIVITY TECHNOLOGIES 66
5.3.3 RTLS HARDWARE AND SOFTWARE 66
5.3.4 SYSTEM INTEGRATION AND SERVICES 66
5.3.5 VERTICALS 66
5.3.6 APPLICATIONS 66
5.4 PRICING ANALYSIS 67
5.4.1 RTLS TAG PRICE COMPARISON, BY TECHNOLOGY, 2020 67
5.5 PORTER’S FIVE FORCES ANALYSIS 68
5.5.1 THREAT OF NEW ENTRANTS 69
5.5.2 THREAT OF SUBSTITUTES 69
5.5.3 BARGAINING POWER OF BUYERS 69
5.5.4 BARGAINING POWER OF SUPPLIERS 70
5.5.5 DEGREE OF COMPETITION 70
5.6 TRADE ANALYSIS 70
5.7 ECOSYSTEM 72
5.8 CASE STUDY ANALYSIS 74
5.8.1 UNITED HOSPITAL SERVICES MAINTAINS STRICT HYGIENE AND REDUCES WASTE 74
5.8.2 MANUFACTURING CHALLENGES SOLVED BY RTLS 75
5.8.3 SANFORD HEALTH IMPROVES PATIENT EXPERIENCES WITH RTLS TECHNOLOGY 75
5.8.4 SANFORD HEALTH SUCCESSFULLY IMPROVED EXPERIENCE OF PATIENTS BY IMPLEMENTING RTLS TECHNOLOGY 76
5.9 TECHNOLOGY ANALYSIS 77
5.9.1 RTLS TECHNOLOGY COMPARISON 77
5.9.2 ZEBRA IS ONE OF THE LARGEST RFID PATENT HOLDERS 77
5.9.3 HYBRID TECHNOLOGY-FUTURE OF RTLS 78
5.9.4 UBISENSE RTLS TECHNOLOGY - SOLUTION FOR AUTOMOTIVE 78
5.9.5 NEW RTLS MODULE TO CUT ACTIVE UWB TAG COST (RFID JOURNAL) 78
5.10 PATENT ANALYSIS 79
5.11 MARKET REGULATIONS AND STANDARDS 81
5.11.1 MARKET STANDARDS 81
- 5.11.1.1 Omlox 81
- 5.11.1.2 Recent update related to Omlox 83
- 5.11.1.3 Adoption of Omlox 83
5.11.2 MARKET REGULATIONS 84
6 RTLS MARKET, BY OFFERING 85
6.1 INTRODUCTION 86
6.2 HARDWARE 88
6.2.1 IMPACT OF COVID-19 ON RTLS MARKET FOR HARDWARE 89
6.2.2 TAGS/BADGES 91
- 6.2.2.1 Tags/badges deliver precise accuracy and long-range positioning for high-performance location tracking 91
6.2.3 READERS/TRACKERS/ACCESS POINTS 92
- 6.2.3.1 Readers/trackers/access points provide visibility into exact location of all tagged assets 92
6.2.4 OTHERS 92
6.3 SOFTWARE 94
6.3.1 APPLICATION 96
- 6.3.1.1 Application of RTLS software stores and analyzes data gathered by nodes deployed in films 96
6.3.2 MIDDLEWARE 97
- 6.3.2.1 Middleware acts as plumbing between core RTLS components and software applications 97
6.3.3 LOCATION ANALYTICS ENGINE 97
- 6.3.3.1 RTLS software and location engines are brainpower that makes RTLS location systems work 97
6.4 SERVICES 98
6.4.1 CONSULTING 99
- 6.4.1.1 Consulting services to witness significant growth in RTLS market in coming years 99
6.4.2 SUPPORT AND MAINTENANCE 99
- 6.4.2.1 Superior equipment management and preventive maintenance is essential for proper functioning of RTLS 99
6.4.3 DEPLOYMENT AND INTEGRATION 100
- 6.4.3.1 Deployment and integration services ensure optimal performance of RTLS 100
7 RTLS MARKET, BY TECHNOLOGY 101
7.1 INTRODUCTION 102
7.2 RFID 105
7.2.1 ACTIVE RFID TECHNOLOGY IS MOST PREFERRED IN RTLS MARKET 105
7.3 WI-FI 109
7.3.1 WI-FI BASED RTLS SYSTEMS WILL BE MORE POPULAR AS PRE-EXISTING WI-FI POINTS CAN BE LEVERAGED WITHOUT ANY ADDITIONAL HARDWARE COST 109
7.4 UWB 112
7.4.1 UWB IS POPULAR IN RTLS MARKET DUE TO LOW LATENCY AND HIGH POSITIONING ACCURACY 112
7.5 BLUETOOTH LOW ENERGY (BLE) 116
7.5.1 BLE IS GAINING POPULARITY IN RTLS MARKET, SUPPORTED BY GROWING NUMBER OF WI-FI ACCESS POINT VENDORS 116
7.6 INFRARED (IR) 119
7.6.1 IR IS BEING USED IN COMBINATION WITH WI-FI, RFID, OR UWB TECHNOLOGIES IN ROOM-LEVEL AND SUB-ROOM-LEVEL ACCURACY APPLICATIONS 119
7.7 ULTRASOUND 122
7.7.1 NON-INVASIVE NATURE OF ULTRASOUND TECHNOLOGY HAS RESULTED IN ITS HIGH ADOPTION IN RTLS MARKET 122
7.8 GPS 126
7.8.1 GPS COMBINED WITH OTHER TECHNOLOGIES ACHIEVES BETTER ACCURACY IN RTLS SOLUTIONS 126
7.9 OTHERS 129
8 RTLS MARKET, BY APPLICATION 133
8.1 INTRODUCTION 134
8.2 INVENTORY/ASSET TRACKING & MANAGEMENT 136
8.2.1 INVENTORY/ASSET TRACKING & MANAGEMENT APPLICATION TO CONTINUE TO CAPTURE LARGEST SIZE OF RTLS MARKET DURING FORECAST PERIOD 136
8.2.2 IMPACT OF COVID-19 ON RTLS MARKET FOR INVENTORY/ASSET TRACKING & MANAGEMENT APPLICATION 137
8.3 PERSONNEL/STAFF LOCATING & MONITORING (INCLUDES PATIENT TRACKING) 139
8.3.1 REAL-TIME MONITORING IN HEALTHCARE SEGMENT EXPECTED TO HAVE HIGHEST MARKET SHARE FOR PERSONNEL/STAFF LOCATING & MONITORING APPLICATIONS DURING FORECAST PERIOD 139
8.3.2 IMPACT OF COVID-19 ON RTLS MARKET FOR PERSONNEL/STAFF LOCATION MONITORING APPLICATION 140
8.4 ACCESS CONTROL/SECURITY 143
8.4.1 RTLS BEING USED INCREASINGLY FOR ACCESS CONTROL/SECURITY AS IT CAN REACT IN REAL TIME 143
8.5 ENVIRONMENTAL MONITORING 144
8.5.1 MANUFACTURING & AUTOMOTIVE VERTICAL TO WITNESS SIGNIFICANT GROWTH IN RTLS MARKET FOR ENVIRONMENTAL MONITORING APPLICATION DURING FORECAST PERIOD 144
8.6 YARD, DOCK, FLEET, AND WAREHOUSE MANAGEMENT & MONITORING 147
8.6.1 TRANSPORTATION & LOGISTICS AND RETAIL VERTICALS REQUIRE RTLS FOR YARD, DOCK, FLEET, AND WAREHOUSE MANAGEMENT & MONITORING APPLICATIONS 147
8.7 SUPPLY CHAIN MANAGEMENT & OPERATIONAL AUTOMATION/VISIBILITY (INCLUDES CONTAINER TRACKING AND WORK-IN-PROGRESS TRACKING) 150
8.7.1 DATA AND RESULTING VISIBILITY INTO PROCESSES THAT RTLS PROVIDES MAKES IT CRITICAL FOR SUPPLY CHAIN MANAGEMENT 150
8.8 OTHERS 152
9 RTLS MARKET, BY REGION 154
9.1 INTRODUCTION 155
9.2 NORTH AMERICA 156
9.2.1 IMPACT OF COVID-19 ON RTLS MARKET IN NORTH AMERICA 157
9.2.2 US 161
- 9.2.2.1 US accounted for largest share of RTLS market in North America in 2020 161
9.2.3 CANADA 162
- 9.2.3.1 Healthcare and retail industries to generate high demand for RTLS solutions in Canada 162
9.2.4 MEXICO 162
- 9.2.4.1 Mexico to witness significant growth in RTLS market due to presence of key market players 162
9.3 EUROPE 162
9.3.1 UK 166
- 9.3.1.1 Rising expenditure of federal government on improvement of healthcare sector positively impacting RTLS market in UK 166
9.3.2 GERMANY 167
- 9.3.2.1 Germany to account for largest share of RTLS market in Europe by 2026 167
9.3.3 FRANCE 168
- 9.3.3.1 Adoption of RTLS solutions in aerospace manufacturing industry in France to propel growth of RTLS market 168
9.3.4 REST OF EUROPE 168
9.4 APAC 169
9.4.1 IMPACT OF COVID-19 ON RTLS MARKET IN APAC 171
9.4.2 JAPAN 174
- 9.4.2.1 Increasing concern in healthcare industry to grow RTLS market in Japan 174
9.4.3 CHINA 175
- 9.4.3.1 China to witness highest growth in RTLS market in APAC during forecast period 175
9.4.4 SOUTH KOREA 175
- 9.4.4.1 South Korea is expected to increasingly adopt RTLS solutions, especially in industrial manufacturing 175
9.4.5 AUSTRALIA 176
- 9.4.5.1 Sports and entertainment industries to offer lucrative growth opportunities for RTLS market in Australia 176
9.4.6 REST OF APAC 176
9.5 ROW 177
10 COMPETITIVE LANDSCAPE 180
10.1 OVERVIEW 180
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 180
10.3 REVENUE ANALYSIS OF TOP PLAYERS 181
10.4 MARKET SHARE ANALYSIS, 2020 181
10.5 COMPANY EVALUATION QUADRANT, 2020 183
10.5.1 STAR 183
10.5.2 EMERGING LEADER 183
10.5.3 PERVASIVE 183
10.5.4 PARTICIPANT 183
10.5.5 COMPANY FOOTPRINT 185
10.6 RTLS MARKET STARTUP/SME EVALUATION QUADRANT, 2020 189
10.6.1 PROGRESSIVE COMPANY 189
10.6.2 RESPONSIVE COMPANY 190
10.6.3 DYNAMIC COMPANY 190
10.6.4 STARTING BLOCK 190
10.7 COMPETITIVE SITUATIONS AND TRENDS 191
10.7.1 PRODUCT LAUNCHES 191
10.7.2 DEALS 192
11 COMPANY PROFILES 193
11.1 INTRODUCTION 193
11.2 KEY PLAYERS 194
11.2.1 STANLEY BLACK & DECKER 194
11.2.2 ZEBRA TECHNOLOGIES 199
11.2.3 ARUBA NETWORKS (HP ENTERPRISE) 204
11.2.4 IMPINJ 207
11.2.5 SAVI TECHNOLOGY 212
11.2.6 TELETRACKING 215
11.2.7 UBISENSE 218
11.2.8 AIRISTA FLOW 221
11.2.9 SONITOR TECHNOLOGIES 224
11.2.10 ALIEN TECHNOLOGY 228
11.3 OTHER PLAYERS 231
11.3.1 DECAWAVE 231
11.3.2 REDPINE SIGNALS 232
11.3.3 VISIBLE ASSETS 233
11.3.4 CENTRAK 234
11.3.5 LEANTEGRA 235
11.3.6 OPENRTLS 236
11.3.7 LITUM TECHNOLOGIES 236
11.3.8 TRACKTIO 238
11.3.9 CERNER CORPORATION 239
11.3.10 GE HEALTHCARE 240
11.3.11 INFINITE LEAP 241
11.3.12 REDPOINT POSITIONING CORPORATION 242
11.3.13 BLUEIOT 243
11.3.14 SEWIO NETWORKS S.R.O 244
11.3.15 EKAHAU 245
12 APPENDIX 246
12.1 INSIGHTS OF INDUSTRY EXPERTS 246
12.2 DISCUSSION GUIDE 247
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 249
12.4 AVAILABLE CUSTOMIZATIONS 251
12.5 RELATED REPORTS 251
12.6 AUTHOR DETAILS 252