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RTLS market expected to reach $43.7 billion by 2020

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Sharath Kumar
New Update

PORTLAND, USA: According to a new market research report titled "Real Time Locating Systems (RTLS, RFID, Bluetooth, Wi-Fi, UWB, GPS, IR, NFER, ZigBee and Emerging Technologies) and Application (Manufacturing, Healthcare, Transportation & Logistics, Retail, Public Safety and Defense) Market - Global Industry Analysis, Size, Growth, Share, Trends, and Forecast, 2012 - 2020" by Allied Market Research, the global Real Time Locating Systems (RTLS) market was worth $11.7 billion and it is expected to grow to $43.7 billion by 2020 at a CAGR of 20.7 pc from 2013 to 2020.

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GPS has emerged as a market leader among all RTLS technologies surpassing active RFID and it is expected to grow at a CAGR of 23.8% between 2013 and 2020 to reach market revenue of $15 billion in 2020. The higher adoption of GPS technology can easily be attributed to its enhanced accuracy levels and application in tracking high valued assets such as airplanes and cargo ships.

Get the full access of the report at http://www.alliedmarketresearch.com/real-time-locating-systems-RTLS-market=86

"The RTLS market is in its transition phase with increasing adoption of GPS and Wi-Fi technologies in comparison to conventional RFID. Real time locating technologies gained importance due to its application in inventory management and security. Moreover, increasing innovations in RTLS market has extended the application of real time locating technologies in tracking high value assets with higher precision rates than ever" state AMR analysts Shreyas Naidu and Bryan Olson. "In addition, Government departments have great interests in the RTLS market as it offers intuitive solutions for public safety and military operations".

Privacy concerns have always been and are expected to be the biggest concern for real time locating systems market. However, stringent regulations such as GPS act, and bills such as Stalking Apps Bill are driving the adoption levels. Human resource tracking in business organizations is gradually gaining importance to improve efficiency. However, adoption among the users is still a key concern, which has definitely improved over the years. Various privacy regulations such as the General Data Protection Regulation to be formulated by 2014, and to be implemented by 2016 by European Union, may resolve this concern to an extent.

Browse all semiconductor and electronics reports by AMR http://www.alliedmarketresearch.com/semiconductor-and-electronics-market-report-11

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