Advanced features such as enhanced quality of care, cost savings,
increased efficiency, and asset and workflow management offered by
Real Time location Systems (RTLS) are fueling the adoption of RTLS
across various industries. RTLS help enterprises to track, identify
and manage important assets such as tools, personnel and equipment in
real time by putting a badge/tag on them. Badges/tags utilize
wireless technologies such as infrared, ultrasound, Wi-Fi, ZigBee and
RF signals for communication between readers and tags and send
signals to the location sensors/readers. These sensors/readers then
communicate with software/middleware platform that analyzes the data
and correlates useful information to improve staff productivity and
operational efficiency in an enterprise.
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Optimum utilization of resources and asset management with RTLS
solutions is expected to drive demand for RTLS solutions during the
forecast period. Moreover, due to decreasing prices of RTLS
components and government support encouraging the use of RTLS is
expected to increase adoption during the forecast period.
In terms of technology, RFID led the global RTLS market with highest
revenue share in 2013. This was mainly due to advanced features of
RFID technology such as high accuracy, low cost, long battery life of
tags, and low maintenance costs as compared to WI-Fi. However, ZigBee
and UWB are emerging technologies with tremendous market potential,
mainly due to long battery life, enhanced accuracy and high location
precision. One of the most significant advantages of Wi-Fi in RTLS is
the ease of deployment. Wi-Fi based RTLS systems are mostly deployed
in organizations with an existing Wi-Fi network.
In 2013, North America held the largest market share and accounted
for 45.4% of the global RTLS market revenue. Applications in
healthcare industry have primarily driven the demand for RTLS
solutions in the North American market. Due to the existing
healthcare-IT infrastructure in North America, companies in this
market were able to gain leverage and deploy RTLS solutions in the
healthcare industry. Furthermore, a key factor playing pivotal role
in driving the growth of RTLS market in North America is government
support. In 2013, U.S. government Veteran Affairs deployed RTLS from
Hewlett Packard in several medical centers across the U.S. The Asia
Pacific region is expected to be the fastest growing regional market
for RTLS solutions. One of the key factors driving market growth in
the Asia Pacific region is the rise in demand from countries such as
Japan, Singapore and South Korea. Other factors such as rising
customer awareness and high industrial growth will also propel the
adoption of RTLS in Asia Pacific region.
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The global RTLS market shows high degree of competition amongst
existing players. The market is fragmented in nature with existing
companies competing among themselves and new entrants pursuing to
enter the market. In order to sustain competition, majority of the
market players are focusing on developing innovative products to
support the existing infrastructure of enterprises. Integration
across the value chain, minimizing production cost and adoption of
new technologies are crucial to success for market players.
Furthermore, companies are trying to obtain an edge over competitors
by providing customized solutions as per customer demand. Companies
such as AeroScout Inc., Awarepoint Corporation, Zebra Technologies
Corporation, Identec Solutions, Motorola Solutions Inc., and Sonitor
Technologies, Inc. are integrating across the value chain including
software and application development.
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