Real-time location systems market expected to reach $39.12 billion by 2030: AMR says

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The massive increase in the adoption of Wi-Fi in various end-use industries around the world, the perfect availability of affordable sensors, the widespread adoption and acceptance of RFID due to its high accuracy and long battery life, the availability of fast internet connections, and the increase in projected global demand for The usage of smartphones and smart gadgets will drive the growth of the global real-time positioning system market. By component, the hardware segment holds the largest market share in 2020. By region, Asia Pacific is expected to witness the fastest CAGR through 2030.

PORTLAND, Ore., May 31, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, global real-time location system market $3.93 billion was created in 2020 and is expected to reach $39.12 billion by 2030, growing at a CAGR of 25.7%. The report provides an in-depth analysis of top investment pockets, top winning strategies, drivers and opportunities, market size and estimates, competitive scenarios and volatile market trends.

The massive increase in the adoption of Wi-Fi in various end-use industries around the world, the perfect availability of affordable sensors, the widespread adoption and acceptance of RFID due to its high accuracy and long battery life, the availability of fast internet connections, and the increase in projected global demand for The usage of smartphones and smart gadgets will drive the growth of the global real-time positioning system market. On the other hand, low awareness of these systems is expected to hinder growth to some extent. However, continued technological advancements in gadgets and increased adoption of business analytics across industries are expected to create ample opportunities for the industry to grow.

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COVID-19 Scenario

  • The outbreak of COVID-19 has positively impacted the growth of the global real-time positioning system market. Lockdown has led to the increasing adoption of RTLS by the healthcare industry to effectively assess the impact of new telehealth platforms, allowing clinicians to easily interact with healthcare workers and patients.

  • Growing use of telemedicine, enabling healthcare workers to provide remote care to outpatient and inpatient patients, is further driving the market growth.

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The report provides a detailed breakdown across the globe Real-time positioning system industry Based on components, technologies, industry verticals and regions.

Based on components, the hardware segment accounted for the largest market share in 2020, accounting for more than two-fifths of the total market. On the other hand, the services segment is expected to register the fastest CAGR of 27.9% during the forecast period.

Based on technology, the RFID segment accounted for the majority share in 2020, accounting for nearly one-third of the market. On the other hand, the ultra-broadband segment is expected to register the fastest CAGR of 31.3% during the forecast period.

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By region, North America will hold the largest share in 2020, accounting for more than two-fifths of the overall market. On the other hand, Asia Pacific is expected to register the fastest CAGR of 28.6% during the forecast period.

The market key players analyzed in the global real-time positioning system market report include Zebra Technologies Corporation, Ubisense Group PLC, AeroScout, Inc., TeleTracking Technologies, Inc., and Savi Technology.

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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP in Portland, Oregon. Allied Market Research provides unparalleled quality “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as small and medium enterprises. AMR provides targeted business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market segments.

Pawan Kumar, CEO of Allied Market Research, is leading organizations to deliver high-quality data and insights. We have professional corporate relationships with several companies, which help us mine market data, help us generate accurate research data sheets and confirm the maximum accuracy of our market forecasts. Every data presented in our published report is extracted through preliminary interviews with senior officials of leading companies in the relevant fields. Our approach to secondary data sourcing includes in-depth online and offline research and discussions with industry knowledgeable professionals and analysts.

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