Real Time Location System (RTLS) is a technology that is used to automatically identify and locate objects, assets or individuals in real time. The goal of RTLS is to continuously track location of the targets. RTLS works with the help of a tag which is attached to the target from which wireless signals are sent and received by the readers. The readers are usually fixed at predetermined positions and they transmit the location data to the software which then interprets the exact location visually to the end user. Table of contents and insights:
http://industryarc.com/Report/1294/realtime-location-system-market-analysis.html
The report from IndustryARC on RTLS systems estimated the current market size to be around $2.3 billion in 2014. This market is estimated to grow to $7 billion through 2020. The increased demand for RTLS in manufacturing and healthcare is forecast to drive the market. The increased customer demand for these services has led to the entry of leading electronics and semiconductor companies including ABB (Sweden), Honeywell (U.S) and Siemens (Germany) in the market. This recent report created by IndustryARC examines this market and as well as the various RTLS technologies utilized by consumers.
The global real time location systems market has been segmented based on type of technology which are Active RFID and Passive RFID. In 2014, Active RFID segment accounted for the majority share among the technology types. The Active RFID segment is further segmented into Wi-Fi, Bluetooth, GPS, UWB, Infrared, Ultrasound, Zigbee and Bluetooth. The improving technology and accuracy provided by Ultra Wide Band in RTLS is the major driver for this segment. The Bluetooth RTLS market is set to exhibit highest growth due to its relatively lower cost and existing infrastructural footprint, thereby driving demand in manufacturing and healthcare industries. The falling price of RTLS systems is set to drive adoption in APAC markets particularly.
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The RTLS market has been segmented based on application into asset tracking, work in progress tracking, fleet tracking, shipping container tracking, personnel tracking and patient activity tracking. Asset tracking is the biggest market for EPAS systems, accounting for 34% of the market. Personnel tracking accounts for 12% of the market but is estimated to be the fastest growing market. This is because personnel tracking application is currently being used to improve safety and security of employees who work in hazardous and risk prone environments like mines, petrochemical industries and in construction industries.
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