Global Real Time Location System Market to Reach USD 68.3 Billion by 2033, Impelled by Increasing Penetration of Smartphones

January 07, 2025 | Technology & Media

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According to the latest report by IMARC Group, titled "Real Time Location System Market Report by Component (Hardware, Software, Services), Technology (RFID, Wi-Fi, UWB, BLE, Infrared (IR), Ultrasound, GPS, and Others), Application (Inventory/Asset-Tracking & Management, Personnel/Staff-Locating & Monitoring, Access Control/Security, Environmental Monitoring, Yard, Dock, Fleet Warehouse-Management & Monitoring, Supply Chain Management & Operational Automation/Visibility, and Others), Vertical (Healthcare, Manufacturing & Automotive, Retail, Transportation & Logistics, Government & Defense, Education, Oil & Gas, Mining, Sports & Entertainment, and Others), and Region 2025-2033," the global real time location system market reached a value of USD 9.2 Billion in 2024. A real time location system or real time tracking system is used to automatically identify and track the current geographic position and location of a target. It is usually used in indoor and confined areas, such as buildings, and doesn't provide global coverage like GPS. It is widely used in various logistical or operational areas to generate notifications when an object moves, locate and manage assets within a particular area. It aids in healthcare provision via staff and patient monitoring, provides the right equipment for use in certain situations, helps in acute care capacity management via clinical-care locating, prevents abductions by sounding alarms if an infant leaves the boundary of a hospital, among others.

Global Real Time Location System Market Trends:

The global market is majorly driven by the increasing tendency to introduce real time location systems in multiple government applications. In line with this, the leading market players are focusing on developing more innovative solutions, which is expected to witness substantial growth in the coming years. Furthermore, the rising penetration of ultra-wideband (UWB) technology-based RTLS that provides accurate positioning data and high accuracy and range is significantly contributing to the market. Apart from this, the growing demand from the healthcare, manufacturing, and logistics industries to enhance efficiency, reduce costs, and shorten lead times is positively influencing the market. Additionally, the increasing demand for RTLS in security and surveillance, and inventory management is providing a boost to the market. Some of the other factors driving the market growth include the rising government expenditure on defense and homeland security, the growing demand for RTLS solutions in smart cities, modernization in production techniques, and rapid technological advancements. Looking forward, the market value is projected to reach USD 68.3 Billion by 2033, expanding at a CAGR of 23.64% during 2025-2033.

Market Summary:

On the basis of the component, the market has been categorized into hardware, software, and services.
Based on the technology, the market has been classified into RFID, Wi-Fi, UWB, BLE, infrared (IR), ultrasound, GPS, and others.
Based on the application, the market has been segmented into Inventory/Asset-Tracking & Management, Personnel/Staff-Locating & Monitoring, Access Control/Security, Environmental Monitoring, Yard, Dock, Fleet Warehouse-Management & Monitoring, Supply Chain Management & Operational Automation/Visibility, and Others.
Based on the vertical, the market has been categorized into healthcare, manufacturing & automotive, retail, transportation & logistics, government & defense, education, oil & gas, mining, sports & entertainment, and others.
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others) and the Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, and others).
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include AeroScout Inc., AiRISTA, Alien Technology, Axcess International Inc., CenTrak Healthcare Company, DecaWave Limited, Ekahau Inc., Identech Group AG, Impinj, Savi Technology, Sonitor Technologies, Stanley Healthcare, TeleTracking Technologies, Ubisense Group, and Zebra Technologies.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Component, Technology, Application, Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered	AeroScout Inc., AiRISTA, Alien Technology, Axcess International Inc., CenTrak Healthcare Company, DecaWave Limited, Ekahau Inc., Identech Group AG, Impinj, Savi Technology, Sonitor Technologies, Stanley Healthcare, TeleTracking Technologies, Ubisense Group and Zebra Technologies
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Real Time Location System Market to Reach USD 68.3 Billion by 2033, Impelled by Increasing Penetration of Smartphones

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