Real-Time Location Systems Market Size to Surpass USD 40.71 Billion by 2031, Growing at a 26.5% CAGR - The Insight Partners

The global Real-Time Location Systems market is set for explosive growth with a CAGR of 26.6% during 2023–2031, it was valued at $6.16 billion in 2023, with projections indicating a surge to $40.70 billion by 2031. This remarkable expansion is driven by growth in e-commerce sector.

/EIN News/ -- US & Canada, March 25, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, "Real-Time Location Systems Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Offering, Technology, Industry Vertical, Application, and Geography", the global real-time location systems market is observing healthy growth owing to rising demand for connected devices.

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The Real-Time Location Systems market was valued at US$ 6.16 billion in 2023 and is projected to reach US$ 40.70 billion by 2031; it is expected to register a CAGR of 26.6% during 2023–2031.

The report runs an in-depth analysis of market trends, key players, and future opportunities. Growing investments in 5G will help improve connectivity and acquire real-time data, including real-time location tracking, which can be used for various applications, from navigation to emergency services. Therefore, the emergence of the 5G network is expected to create lucrative opportunities for the real-time location systems market during the forecast period.

Market Overview and Growth Trajectory:

Market Growth: The real-time location systems market is expected to reach US$ 6.16 Billion in 2023 and is projected to reach US$ 40.70 Billion by 2031; it is expected to register a CAGR of 26.6% during 2023–2031. The growing penetration of ultra-wideband (UWB) technology-based RTLS solutions that provide highly accurate positioning data and high accuracy and range with low power consumption is bolstering the growth of the real-time location systems market. End-use industries, such as healthcare, manufacturing, and logistics, are demanding UWB technology-based RTLS solutions to improve efficiency, shorten lead times, and reduce costs. The rising demand for RTLS solutions from sports, entertainment, and automotive sectors is also driving the market. The availability of indoor tracking is encouraging the healthcare vertical to opt for RTLS, which is expected to further fuel the market growth in the coming years.

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Rising Demand for Connected Devices: The demand for connected devices, including smartphones, tablets, and different wearable devices, such as smartwatches, fitness trackers, VR headsets, web-enabled glasses, smart jewelry, and Bluetooth headsets, is increasing across the world. Smartphones and tablets help the user accurately track location information in real time. The devices help the user to know the real-time traffic scenario and find the fastest route to the destination. This technology is important for applications such as underground tracking, indoor navigation, and environments where there is signal interference. For instance, miners working deep underground can benefit from SLAM to maintain situational awareness and ensure safety in the absence of the GPS. Also, in healthcare, wearables used by dementia patients can use SLAM to accurately track their movements, reducing the risk of patients getting lost or placing themselves in dangerous situations. As the demand for connected devices grows in industries that require precise location tracking, the integration of SLAM technology innovates and improves the capabilities of real-time location systems.

Growing E-Commerce Sector: Since the COVID-19 pandemic, there has been a surge in online shopping across the world. E-commerce sales have witnessed a significant growth rate over recent years. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ∼27.6% of the world’s population) shopped for products from online portals. The growing demand for online shopping is compelling companies to make retail cost-efficient and faster, which raises the need to optimize supply chain management and build robust solutions to meet the demands. In the e-commerce sector, the real-time location system helps monitor and locate goods; it provides resourceful insights to distribution center operators to make data-driven decisions rather than relying on educated guesses.

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Growing Use of RTLS in Healthcare Sector: In the healthcare sector, RTLS is used to maintain patient safety and provide great experience and satisfaction. The technology can assist in tracking patient flow for throughput management, which can further help recognize and address bottlenecks. It can also help find solutions for problems such as long waiting times; overcrowding in emergency rooms, outpatient clinics, and post-anesthesia care units; delay or rescheduling of surgeries; and shortage of beds for patients. RTLS technology is used in everyday operations or emergencies at hospitals to locate hospital assets such as beds, equipment, wheelchairs, and others quickly and reliably. In emergencies and when the hospital is nearing capacity, RTLS can help notify the availability of a bed when a patient is discharged. Through this, hospitals can achieve up to 50% faster bed turnover times. As the RTLS technology can help track assets and patients, its demand is expected to increase in the healthcare sector during the forecast period.

Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period. The market growth in North America is attributed to the increasing number of internet users. According to the World Bank Group, ~92% of the population in the region uses the internet. Such high internet penetration in the region is fueling the growth of the North America ecommerce industry. According to the Census Bureau of the Department of Commerce, the US retail ecommerce sales for the first quarter of 2024 was US$ 289.2 billion, an increase of 2.1% compared to the fourth quarter of 2023. Thus, the growth of the ecommerce industry is driving the real-time location systems market in North America.

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Real-Time Location Systems Market Segmentation, Applications, Geographical Insights:

• Based on offering, the real-time location systems market is segmented into hardware, software, and services. The hardware segment held the largest share in the real-time location systems market in 2023.
• Based on technology, the real-time location systems market is segmented into RFID, UWB, BLE, Ultrasound, Infrared, GPS, Wi-fi, and Zigbee. The BLE segment held the largest share in the real-time location systems market in 2023.
• Based on industry vertical, the real-time location systems market is segmented into retail, government & defense, manufacturing, healthcare, logistics, heavy industries, construction, oil & gas, automotive, and others. The healthcare segment held the largest share in the real-time location systems market in 2023.
• Based on application, the real-time location systems market is segmented into personnel/staff locating and monitoring, environment monitoring, access control and security, warehouse management and monitoring, and supply chain management and operational automation/visibility. The supply chain management and operation automation or visibility segment held the largest share in the real-time location systems market in 2023.

Key Players and Competitive Landscape:

The Real-Time Location Systems Market is characterized by the presence of several major players, including:

• Aruba Networks
• AiRISTA Flow Inc
• Qorvo Inc
• Impinj Inc
• Siemens AG
• Zebra Technologies Corp
• Sonitor Technologies AS
• Stanley Black & Decker Inc
• TeleTracking Technologies Inc
• Ubisense Ltd
• Slamcore Ltd
• Kudan Inc
• Microsoft Corp
• Sevensense Robotics AG
• NavVis GmbH
  
  

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

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Real-Time Location Systems Market Recent Developments and Innovations:

• Houston Airports partnered with HPE Aruba Networking solution to adopt a Wi-Fi 6E-enabled HPE Aruba Networking solution
• Enloe Medical Center, based in Chico, California expanded its Aruba network by adding Aruba Edge Connect SD-WAN gateways and Aruba Location Services
• HPE Aruba Networking introduced high-capacity Wi-Fi 7 access points, providing up to 30% more capacity than competitors
• AiRISTA Flow introduced Sofia, a resource location tracking platform built to increase preparedness and reduce errors in healthcare delivery

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Conclusion:

Real-time location systems (RTLS) are used to determine the location of an object or a person. They can accurately locate, track, and manage assets, inventory, or people and help companies make knowledgeable decisions. The system consists of a transponder, a receiver, and software to interpret the data. RTLS transmitters or receivers are spaced throughout a building to provide the desired coverage. RTLS is used across many end-use verticals, such as heavy industries, manufacturing, retail, oil & gas, automotive, transportation and logistics, construction, government & defense, and education. Also, they are used for specific applications such as employee tracking and high-value asset tracking. The growing use of RTLS in the healthcare industry is significantly bolstering the growth of the real-time location systems market. In May 2022, Sonitor (a provider of ultrasound-based RTLS and indoor positioning systems) showcased its flagship SenseTM RTLS technology at the Oracle Cerner Healthcare Conference. The live demonstrations highlighted the clinical benefits of Sonitor's platform, including enhanced patient care, improved operational efficiencies, and infection control management. The company's reliable and accurate RTLS technology and seamless integration capabilities have helped the company attract a number of customers desiring RTLS solutions.

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