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 the 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.
The RTLS market is expected to be dominated by Stanley Black & Decker (US), Zebra Technologies (US), Aruba Networks (US), Impinj (US), and Savi Technology (US). The major strategies adopted by the key players in the RTLS market included R&D investments, partnerships, collaborations, and acquisitions which helped them to innovate and strengthen their product offerings.
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Stanley Black & Decker (US) and Zebra Technologies (US) are among the major players in the RTLS market.
Stanley Black & Decker (US)
One of the major companies in the RTLS market, is Stanley Black & Decker. The company has also partnered with industry leaders, such as IBM, Intel, Rauland-Borg, and Critical Alert Systems, for research and development in RTLS. In addition, the company has collaborated with different organizations to create awareness about the role of RTLS in patient care and asset management. For instance, in July 2016, the company extended its support to the Alzheimer’s Association. The company showcased its products at various events such as HIMSS 2018. The company has a global presence and has undertaken different strategies to grow in various geographies.
The company has exhaustive offerings in the RTLS market, which include hardware, software, and solutions. Wi-Fi, RFID, BLE, and UWB are among the key technology-based RTLS solutions offered by the company.
Zebra Technologies (US)
The company’s RTLS solutions are equipped with active and passive RFID tags, beacons, and other tracking devices to locate, track, manage, and optimize high-value assets, equipment, and people. The company offers a range of scalable RTLS technologies that generate precise, on-demand information about the physical location and the status of high-value assets. Zebra Technologies also offers an extensive portfolio of marking, tracking, and printing technologies that include barcode, RFID, and sensors. These solutions capture physical events in a digital form to give operational events a virtual voice, thereby enabling organizations to track the location, timing, and accuracy of events occurring throughout their value chain in real-time. The company has a wide geographic presence with representation in North America, Europe, APAC, Middle East, Africa, and South America. It offers products and services in approximately 180 countries. The company has received numerous contracts from different verticals and has collaborated with several industry players across the world to promote its RTLS offerings in diverse applications.
The offerings of the company include hardware, software, as well as solutions in the RTLS market. Wi-Fi, RFID, WhereNet, NFC, BLE, and UWB are among the key technology-based RTLS solutions offered by the company. A few of the clients of Zebra Technologies include National Football League (as an official on-field player-tracking provider), EDA - Electricidade dos Açores, Ford Motor Company, and Troy Design & Manufacturing Company.
Real-time Location Systems Market (RTLS) with Covid-19 impact analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt, Sports), Application Use Case & Region - Global Forecast to 2026
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