- 6 August 2018 17:31
Real Time Location Systems Market Bright Future Forecasted Ahead!!
Real-time Location Tracking System (RTLS) is a technology that uses Wi-Fi, radio frequency identification (RFID) infrared sensors to identify or detect the current location of people, objects, or vehicles in buildings or in confined areas. Real-time location tracking systems are often used for vehicle tracking, navigation, inventory tracking, and personnel tracking. Location tags such as ultra-wideband, Wi-Fi location band, infrared detection tag, and RFID tag are embedded in the object to determine its position.
Increased adoption in a variety of sectors such as healthcare and manufacturing and warehouse management is a key driver of growth in the global real-time location systems market. Real-time location systems are also a few other factors that accelerate the growth of the global real-time location system market by improving accuracy, operational efficiency and workflow management. In addition, as RTLS component prices decline, adoption is increasing, contributing to the growth of the global real-time location tracking system market.
High installation costs are a major impediment to growth in the global real-time location tracking system market. In addition, as operational difficulties such as privacy issues and battery discharge increase, technical complexity has delayed the adoption of real-time location systems in global markets. The use of real-time location systems to track equipment in the manufacturing sector is a current trend, which is expected to greatly facilitate market growth during the forecast period. The increasing use of real-time location tracking systems that can track doctors, machines, etc. in hospitals is expected to lead to market growth.
The Global Real-Time Location Tracking System market report is categorized by technology, component and geography. The global real-time location systems market segment is divided into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.