Real Time Location System (RTLS) is opted to track the location of objects, assets or individuals in real time monitoring. The primary objective of RTLS is to identify the location; thereby offering complete knowledge about the objects, assets or individuals. This is done by embedding tags to the object being tracked. The signals sent by the tags are received by fixed receivers or readers to identify the location. Real Time Location System is adopted in manufacturing segment such as process automotive and aerospace industries for increasing the operational efficiency and for tracking the assets and staffs. It is also beneficial for emergency response in healthcare sectors for seeking helps from professionals.
Real Time Location System (RTLS) Market in 2017 was dominated by Americas region closely followed by Europe. Asia-Pacific is the fastest growing region for the RTLS Market. The new market players in APAC region have increased the awareness of the real time location system in the region. The increasing adoption of these systems in industrial applications and the declining prices will boost the RTLS market. The Chinese and Indian markets are estimated to be the major growth regions for the RTLS Market. The revenue of global RTLS market is expected to rise at 20.31% for the forecast period and is projected to reach $12.51 billion by 2023.
What is Real Time Location System?
Real-time location system refers to the technology which determines the current location of people or objects by using small transmitters (tags) and gps to track live locations. The active tag transmits a signal that is received by one or more radio receivers (Readers) that are placed throughout a building or venue. Reader passes information recorded from detection of a tag signal along a software application that determines the location of the intercepted signal. Since the signal contains a unique identification code, the location of one person or object can be appropriately distinguished another.
What are the major applications for Real Time Location System?
RTLS are typically designed so that their implementation leads to improvement in the operational processes and workflows; safety and security; inventory management, or a combination of all of these. Application of real time tracking system for detecting live location of any object or person has proven to be a great assistance in diverse set of industries such as Manufacturing, Logistics, Healthcare, Defense, etc. RTLS holds a great for healthcare organizations it is used for tasks ranging from tracking assets and personnel to managing inventory and remaining compliant. It is innovatively being implemented in designing of interactive games moreover the sports industry has a wide range of applications within itself for racing, taking close decisions, etc.
Market Research and Market Trends of Real Time Location System Ecosystem
- In manufacturing industry UWB RTLS solutions are being employed increasingly in the smart factories to achieve the desired efficiency and productivity. Automotive and aerospace manufacturing players have been using UWB RTLS solutions in their set ups. In terms of high visibility, flexibility, lesser waste, and higher profitability, their implementation has proved tremendously profitable. Sectors such as Healthcare, Hospitality, Retail, sports, livestock management, etc, are increasingly implementing UWB RTLS. There is a quick growth expected in RTLS market due to such a wide scale implementation possibilities.
- Redpoint Positioning is one of the poinerring providers of real time solutions. It has continued to make more value of real time location systems. RTLS technology solutions including location algorithms simultaneous tracking and navigation protocol multi-tiered location system and algorithms,UWB + BLE hybrid positioning method for locating RTLS tags and enabling mobile iBeacon™ use . Redpoint has still several patents pending which indicate the efforts in research and innovation being brought up by manufacturers.
- BLE (Bluetooth Low-Energy) beacons have become cheaper and easier to integrate into other systems due to the widespread adaptation of the Bluetooth standard. In everyday devices they are preferred than alternative solutions such as RFID, UWB. Since they provide the flexibility required to adapt the solutions to every part of the business’ operations. The accuracy can go up to 3 m depending on case to case. Therefore, from the cost vs. value perspective, Bluetooth beacons are the way to go for now. As an example, one of the biggest players in the aerospace and defense industry, Lockheed Martin, has installed a BLE-based RTLS solution in its warehouses.
Who are the Major Players in Real Time Location System market?
The players profiled in the report include Ekahau Inc. (U.S), Ubisense Group plc (U.S), CenTrak Inc. (U.S), Zebra Technologies (U.S), Stanley, Black and Decker Inc. (U.S), HID, IBM, Idolink, Identec Solutions, Intelligent Insites.
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