Real Time Location Systems Market by Offering (Hardware, Software, Services), Technology (RFID, BLE, UWB, NB-IoT), Deployment, Location, Application (Asset Tracking, Sensing & Monitoring, Vehicle, Security), Sector, and Geography - Global Forecast to 2030

The Real Time Location Systems (RTLS) Market is projected to reach $36.6 billion by 2030, at a CAGR of 24.7% from 2024 to 2030. The growth of the real time location systems market is driven by advancements in connectivity technologies and the rising demand for asset visibility and operational efficiency. Furthermore, the growing adoption of cloud-based platforms for smart container management and increasing concerns over cargo security and counterfeiting are expected to offer significant growth opportunities for the real time location systems market.

Dynamic regulations and compliance requirements may restrain the growth of this market. Additionally, privacy, security, accuracy issues, and complex implementation and deployment processes are major challenges for players in this market.

Integration of artificial intelligence (AI) and analytics in RTLS and 5G deployment are prominent trends in the real time location systems market.

Increasing Advancements in Connectivity Technologies to Drive Market Growth

Today several companies face numerous challenges when it comes to optimizing operations, managing assets, and ensuring seamless connectivity. However, the increasing advancements in connectivity technologies, including RFID, Bluetooth low energy (BLE), ultra-wideband (UWB), wireless fidelity (Wi-Fi), ultrasound, and NB-IoT, coupled with the adoption of real-time location systems (RTLS), are empowering businesses to overcome these challenges effectively.

Advancements in connectivity technologies have resulted in fast data transmission speeds. With these technologies, data can be transmitted at unprecedented rates, enabling real-time communication and seamless connectivity. RTLS can leverage these advancements to provide accurate and up-to-date location information, enabling efficient asset tracking, supply chain management, and operational optimization. RTLS with better connectivity ensures consistent and reliable location tracking, even in complex or expansive environments like warehouses, manufacturing facilities, or outdoor spaces. It also helps to support several devices and provide seamless integration with existing infrastructure. This scalability allows companies to deploy RTLS solutions across multiple locations and scale up their tracking capabilities as needed.

Connectivity advancements also facilitate seamless integration between RTLS solutions and edge computing platforms. Improved connectivity enables faster data transfer from RTLS devices to analytics platforms, allowing data to be efficiently processed, analyzed, and stored in the cloud or at the edge, enabling advanced analytics, machine learning, and artificial intelligence (AI) capabilities. This real-time data availability allows organizations to gain immediate insights into asset locations, movements, and operational patterns with predictive maintenance, anomaly detection, and optimization algorithms for manufacturing, healthcare, and logistics sectors. Thus, increasing advancements in connectivity technologies coupled with the need for faster and more reliable data transmission, wider coverage, and scalability support the growth of the RTLS market.

Click here to: Get Free Sample Pages of this Report

Some of the Developments in the RTLS Market are as follows:

• In April 2024, Siemens Healthineers (Germany) collaborated with Cognosos (U.S.) to offer real-time asset tracking and intelligence for hospitals and healthcare systems.
• In March 2024, Panasonic Holdings Corporation (Japan) partnered with Quuppa Oy (Finland) to enable Bluetooth Low Energy (BLE) functionality for Logiscend Software 3.0 and provide real-time location data using BLE-based Angle-of-Arrival (AoA) technology. This partnership will enable visibility of bottlenecks and initiate automated workflows based on small changes in the location of assets.
• In November 2022, Progility Technologies Pvt. Ltd. (India) partnered with Quuppa Oy (Finland) to offer real-time location services (RTLS) and applications for indoor tracking to customers across Australia.

Key Findings in the Real Time Location Systems Market Study:

In 2024, the Hardware Segment to Dominate the Real Time Location Systems Market

Based on offering, the real time location systems market is segmented into hardware, software/platform, and services. In 2024, the hardware segment is expected to account for the largest share of the real time location systems market. This segment's large market share can be attributed to several factors, including the increasing adoption of Internet of Things (IoT) technologies and the seamless integration of RTLS systems with IoT platforms. Moreover, the continuous advancements in hardware technologies, such as miniaturization, improved battery life, enhanced wireless communication protocols, and increased durability, further fuel the growth of this segment. Additionally, the growing adoption of RTLS across diverse sectors, including healthcare, manufacturing, logistics, and retail, contributes to the growth of this segment.

However, the services segment is projected to register the highest CAGR during the forecast period due to the increasing need for expertise in implementing and integrating RLTS with existing systems and infrastructure and the growing demand for customized RTLS solutions.

In 2024, the RFID Segment to Dominate the Real Time Location Systems Market

Based on technology, the real time location systems market is segmented into radio frequency identification (RFID), infrared (IR), bluetooth low energy (BLE), ultra-wideband (UWB), wireless fidelity (Wi-Fi), ultrasound, narrowband-internet of things (NB-IoT), global positioning system (GPS)/assisted GPS (A-GPS), and other technologies. In 2024, the RFID segment is expected to account for the largest share of the real time location systems market. This segment's large market share is attributed to the increasing need for real-time tracking and monitoring of assets throughout the supply chain, increasing demand for cost-effective RFID solutions, rising need for RFID tags for convenient tracking of products, and growing need to facilitate accurate and efficient asset tracking and management in various sectors, including manufacturing, logistics, healthcare, and retail.

However, the UWB segment is projected to register the highest CAGR during the forecast period due to its anti-jamming capability making UWB reliable in environments with high-density wireless deployments, such as airports, warehouses, and smart factories. Moreover, UWB enables real-time tracking with centimeter-level accuracy and performs well in both indoor and outdoor environments. Additionally, the increasing need for more precise location tracking with low latency, precise distance measurements, and fine-grained positioning capabilities is driving the demand for UWB technology.

In 2024, the On-premise Deployment Segment to Dominate the Real Time Location Systems Market

Based on deployment mode, the real time location systems market is segmented into on-premise deployment and cloud-based deployment. In 2024, the on-premise deployment segment is expected to account for the largest share of the real time location systems market. This segment's large market share is attributed to the growing need for organizations to have complete ownership and control over their data, ensuring compliance with data privacy regulations, the lower latency offered by on-premise deployment compared to cloud-based solutions, and the increasing need for fast response times and minimize dependence on external networks or internet connectivity.

However, the cloud-based deployment segment is projected to register the highest CAGR during the forecast period due to the growing need for scalability and flexibility, the need to easily scale RTLS solutions based on dynamic requirements, the increasing need to eliminate upfront hardware and infrastructure investments, and the increasing demand for accessibility and remote management.

In 2024, the Outdoors Segment to Dominate the Real Time Location Systems Market

Based on location type, the real time location systems market is segmented outdoors and indoors. In 2024, the outdoors segment is expected to account for the largest share of the real time location systems market. The segment is also projected to register the highest CAGR during the forecast period. This segment's large market share is attributed to the increasing need for efficient route planning, optimized fleet management, and improved operational visibility; the growing demand for geofencing and boundary monitoring; and the increasing demand for outdoor RTLS solutions for managing outdoor storage yards, construction sites, or large inventory areas.

Furthermore, the increasing demand for outdoor RTLS systems to support emergency response scenarios, including locating individuals in distress, coordinating emergency services, or managing crowd movements during large-scale events, drive the growth of this segment.

In 2024, the Asset Tracking Segment to Dominate the Real Time Location Systems Market

Based on application, the real time location systems market is segmented into asset tracking, sensing & monitoring, security & surveillance, inventory management & warehouse management, supply chain management & automation, human resource management, vehicle tracking & fleet management, and other applications. In 2024, the asset tracking segment is expected to account for the largest share of the real time location systems market. The large market share of this segment is attributed to the growing need for improved asset utilization, enhanced demand forecasting, optimized stock levels, and reduced stockouts or overstocking. Additionally, the increasing need to enhance security and safeguard valuable assets to enable cost savings and mitigate financial risks further drives the adoption of real time location systems for asset-tracking applications.

However, the vehicle tracking & fleet management segment is projected to register the highest CAGR during the forecast period due to the growing need for real-time alerts and geofencing capabilities to prevent vehicle theft or misuse and the increasing demand for real-time tracking of vehicles for efficient route planning, reducing idle time, improving dispatching, and minimizing emissions.

In 2024, the Transportation & Logistics Segment to Dominate the Real Time Location Systems Market

Based on sector, the real time location systems market is segmented into transportation & logistics, government & public sector, retail and consumer goods, manufacturing, healthcare & life sciences, media & entertainment, aerospace & defense, agriculture, hospitality & tourism, BFSI, IT & telecom, and other sectors. In 2024, the transportation & logistics segment is expected to account for the largest share of the real time location systems market. The large market share of this segment is attributed to the growing need for precise and real-time tracking of assets, such as containers, pallets, and equipment, within transportation and logistics facilities and the increasing demand for real-time tracking and monitoring of goods, assets, and vehicles throughout the supply chain. Furthermore, the increasing need for efficient route planning, better resource allocation, reduced idle time, and improved vehicle utilization, along with a growing need for tracking and monitoring high-value shipments, preventing theft or unauthorized access, and enhancing the safety of drivers and employees, is supporting the segment growth.

However, the healthcare & life sciences segment is projected to register the highest CAGR during the forecast period. This growth is driven by the rising demand for proactive measures to prevent the spread of infections within healthcare facilities and the increasing need to reduce the risk of patient wandering and improve response times during emergencies. Additionally, there is an increasing demand for real time location systems to track and manage critical assets and equipment, including medical devices, wheelchairs, and infusion pumps. These systems are essential to prevent medication errors, enhance medication inventory management, improve patient safety, and facilitate remote patient monitoring. These factors contribute to the increased adoption of real time location systems in the healthcare & life sciences sectors, driving the growth of this segment.

In 2024, Asia-Pacific to Dominate the Real Time Location Systems Market

Based on geography, the real time location systems market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the real time location systems market. Asia-Pacific's significant market share is primarily attributed to increasing awareness of IoT and Industry 4.0, advancements in manufacturing and industrial sectors, the growing demand for real-time tracking and management of assets, equipment, and inventory, the rising focus on workplace safety, improving logistics, and supply chain management, and the increasing integration of advanced technologies for automation, data exchange, and real-time decision-making.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants in the last 3–4 years. The key players profiled in the real time location systems market report are Zebra Technologies Corporation (U.S.), Securitas Healthcare, LLC (U.S.) (a subsidiary of Stanley Black & Decker, Inc. (U.S.)), Honeywell International Inc. (U.S.), Impinj, Inc. (U.S.), Aruba Networks (U.S.) (a subsidiary of Hewlett Packard Enterprise Company (U.S.)), Ubisense Ltd. (U.K.), Decawave Ltd. (a subsidiary of Qorvo Inc.) (Ireland), Savi Technology (U.S.) (a subsidiary of Lockheed Martin Corporation (U.S.)), Sonitor Technologies (U.S.), Inpixon (U.S.), KATHREIN Solutions GmbH (Germany), Sewio Networks s.r.o. (Czech Republic), HID Global Corporation (U.S.), Siemens AG (Germany), Extronics Ltd (U.K.), Securitas AB (Sweden), Advantech Co., Ltd. (Taiwan), TeleTracking Technologies, Inc. (U.S.), and CenTrak, Inc. (U.S.) (a subsidiary of Halma plc (U.K.)).

Scope of the report:

Real Time Location Systems Market Assessment, by Offering

• Hardware
  • Tags & Badges
  • Anchors
  • Other Hardware
• Software/Platform
• Services
  • Data Analytic and Reporting Services
  • Implementation & Integration
  • Consulting and Advisory Services

Real Time Location Systems Market Assessment, by Technology

• Radio Frequency Identification (RFID)
  • Active RFID
  • Passive RFID
• Infrared (IR)
• Bluetooth Low Energy (BLE)
• Ultra-wideband (UWB)
• Wireless Fidelity (Wi-Fi)
• Ultrasound
• Narrowband-Internet of Things (NB-IoT)
• Global Positioning System (GPS)/Assisted GPS (A-GPS)
• Other Technologies

Real Time Location Systems Market Assessment, by Deployment Mode

• Cloud Deployment
• On-Premise Deployment

Real Time Location Systems Market Assessment, by Location Type

• Indoors
• Outdoors

Real Time Location Systems Market Assessment, by Application

• Asset Tracking
• Sensing & Monitoring
• Security & Surveillance
• Inventory Management & Warehouse Management
• Supply Chain Management & Automation
• Human Resource Management
• Vehicle Tracking & Fleet Management
• Other Applications

Real Time Location Systems Market Assessment, by Sector

• Transportation & Logistics
• Government & Public Sector
• Retail and Consumer Goods
• Manufacturing
• Healthcare & Life Sciences
• Media & Entertainment
• Aerospace & Defense
• Agriculture
• Hospitality & Tourism
• BFSI
• IT & Telecom
• Other Sectors

Real Time Location Systems Market Assessment, by Geography

• North America 
  • U.S.
  • Canada 
• Europe 
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Netherlands
  • Denmark
  • Rest of Europe 
• Asia-Pacific 
  • Japan
  • China
  • India
  • South Korea
  • Singapore
  • Australia & New Zealand
  • Indonesia
  • Rest of Asia-Pacific 
• Latin America 
  • Mexico
  • Brazil
  • Rest of Latin America 
• Middle East & Africa 
  • Israel
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

Key questions answered in the report: