Worldwide Real Time Location System Industry to 2026 - Mining Industry Offers Potential Growth - ResearchAndMarkets.com

The "Real Time Location System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The real time location system market was valued at USD 2.76 billion in 2020 and is expected to reach USD 10.44 billion by 2026, at a CAGR of 30.47% over the forecast period 2021 - 2026.

Companies Mentioned

• Ubisense Group PLC
• AeroScout, Inc. ( Stanley Healthcare)
• TeleTracking Technologies, Inc.
• Savi Technology
• Zebra Technologies
• CenTrak, Inc
• Ekahau, Inc.
• Midmark Medical
• Identec Group AG
• Sonoitor Technologies, Inc.

Key Market Trends

Mining Industry Offers Potential Growth

• The Census of Fatal Occupational Injuries, which has been conducted under the US Bureau of Labor Statistics, has established that workplace injuries have decreased by 25% in 10 years, due to the advent of various technologies in the workplace. This helps in boosting the real time location system market.
• With the increase in mining activity, across different regions, the production of any mine is heavily dependent on a safe interface between mining equipment and human beings. Therefore, the need arises for a wireless communication framework for mine safety, security, and its management that provides efficient, reliable, secure exchange and processing of relevant information. This creates huge market opportunities for RTLS during the forecasted period.
• In underground mining, RFID tags are mostly used because they are capable of communicating in both directions, so the miners can also communicate with the control station on the surface and vice versa.
• With the advancement in technology, different sensors are now attached with RTLS which helps in subsequently transmitting the information in real time to a monitoring station on the surface which creates the absolute critical visibility of the sub-terrestrial mining world which is used to predict immanent disasters. Even in case of disaster recovery, this real-time location information is critical for the prompt and effective rescue operation.
• Thus, with the implementation of RTLS, improvement in the mine safety can be seen which in result will create a market for RTLS during the forecasted period.

Asia-Pacific to Witness the Fastest Growth

• Asia-Pacific market is expected to grow at the fastest rate during the forecasted period because of the increasing number of the working population, and the booming healthcare industry in emerging economies of the world i.e. India and China.
• Moreover, according to the Indian Brand Equity Foundation, the manufacturing sector of India has the potential to reach USD 1 trillion by 2025 and India is expected to rank among the top three growth economies and manufacturing destinations of the world by the year 2020. This creates a huge opportunity for RTLS in warehouse management and during shipping and logistics.
• Further, Japan is hosting Summer Olympics 2020 which will require tracking of goods and authorized persons in real-time to ensure the smooth running of the events. This is anticipated to propel the growth of the real-time location system market during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Reliability of the Technology in Providing Accurate Location

4.3.2 Increasing Demand from Manufacturing Industries

4.4 Market Restraints

4.4.1 High Initial Set-Up Cost and Maintenance Cost

4.5 Industry Value Chain Analysis

4.6 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Offering

5.2 By Technology

5.3 By End-user Vertical

5.4 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/8vnkuo

View source version on businesswire.com: https://www.businesswire.com/news/home/20210730005334/en/

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