Market Updates Real Time Location System Market Analysis 2022 | Page 2

Technological advancements in the market are rapidly increasing owing to growing demand from the end consumers
to ensure improved staff productivity and high operational efficiency. The leading industry player Zebra technologies
have been playing a major role in the development of these solutions thereby increasing the market acceptance of
RTLS globally. The company majorly focuses on offering RTLS solutions that support the standards to provide
interoperability between various departments.
The standards governing RTLS systems is expected to act as a pathway to the global market. RTLS location
information typically does not include complete or continuous navigation details such as speed, direction, or spatial
orientation of tracked assets and persons. Standards governing RTLS include ISO/IEC 24730 standards series, which
describes the systems used by a subset of vendors. These standards define two air interface protocols and a single
application program interface (API) for real-time locating systems for use in product management and is anticipated
to allow compatibility to encourage interoperability of products for the growing RTLS market. High cost of
installation, ownership is expected to restraint the market growth particularly in medium and small firms. Privacy
and security of the data is also anticipated to be the major challenge for the global market. RTLS may be seen as a
threat to privacy when used to determine the location of people.
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On the basis of technology, the global market has been segmented into RFID (Radio frequency identification), WI-FI,
Ultra-Wide Band (UWB), Infrared, Ultrasound, and ZigBee. RFID is the widely used technology and is expected to
dominate the global market over the forecast period. This technology uses electromagnetic fields to detect the
location of the object automatically. It is being widely used in supply chain management owing to its accuracy and
speed and ensures that right goods are available at right time. Less manual work, costs, improved visibility and
planning are attributed to the market growth of this technology.
On the basis of application, the real time location system (rtls) market has been segmented into Healthcare,
Transportation and Logistics, Industrial Manufacturing, Process Industries, Government and Defense, Retail,
Education, and Hospitality. Transportation and logistics is expected to have the largest market revenue share and
growth rate owing to Increasing need to improve efficiency and enhance the overall supply chain management by
the market players. Healthcare is expected to witness significant growth rate owing to extensive use of RFID to
automatically track and follow a patient's emergency room wait time, time spent in the operating room, and total
time until discharge. This system can be used for process improvement and also helps in providing acute care to the
patients.
North America real time location system (rtls) market is expected to have the highest market share owing to the
increasing purchasing power, high adoption rate in RTLS among various industry sectors. Asia pacific real time
location system (rtls) market is expected to witness high growth rate over the