Real-Time Locating Systems Market Recent Study Segments, Future Growth, Business

Posted by Sakshi Mishra on December 26th, 2020

Market Synopsis 

As per the research by Market Research Future Reports (MRFR), the global real-time locating systems market is estimated to value USD 6 billion, growing at a CAGR of 28% during the forecast period from 2016 to 2022. The increasing need to get higher efficacy out of available resources is estimated to drive the global real-time locating systems market 2020. Besides, the increasing demand for real-time locating systems in the healthcare industry is anticipated to be a major factor affecting the market. RTLS has applications in various sectors such as retail, government, transportation and & logistics, and industrial manufacturing, which expands the market. The other factors responsible for expansion are higher-efficiency, asset management, and efficient workflow.

Market Segmentation 

The global real-time locating systems market can be segregated on the basis of technology, industry, application, components, and region. 

On the basis of technology, the global real-time locating systems market can be classified into GPS, Wi-Fi, RFID, UWB, and others.

On the basis of industry, the global real-time locating systems market can be classified into banking, manufacturing, healthcare, automotive, aerospace & defense, and oil & gas, among others.

On the basis of application, the global real-time locating systems market can be classified into personal tracking, asset tracking, and inventory tracking, among others.

Get Free Sample Copy Report of Real-Time Locating Systems Market@ https://www.marketresearchfuture.com/reports/real-time-locating-systems-market-1968

Regional Analysis 

The regional analysis of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the global market is dominated by North America. The region consists of well-equipped technically advanced players, which provides an upper hand in the market. Among all, the U.S. acquires the largest share of the global RTLS market in North America. The second and third position is attained by Canada and Mexico, respectively. The second position is attained by Europe in the global market.  The growing usage of RTLS in the healthcare sector and BFSI has resulted in the expansion of the market in Europe.

On the other hand, the APAC region is estimated to expand at the fastest pace owing to the presence of India and China, which are the fastest-growing economies of the world. China is quickly adopting IoT in the manufacturing industry and the adoption of industry 4.0, which is the most significant reason for market expansion in China. However, the concern of data security can hinder market expansion in China. Moreover, the well-established I.T. infrastructure and seamless connectivity in Japan have further propelled the regional expansion of the market. However, the concerns regarding security and data privacy are estimated to hinder the growth of the market in Japan. 

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Sakshi Mishra

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Sakshi Mishra
Joined: September 30th, 2020
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