- Posted by Airacom
- On 13th July 2016
The ever growing need for organisations to achieve optimum resource utilisation across different industries has paved a path for location-based systems such as Real-Time Location (RTLS). RTLS aid companies to better manage and facilitate location tracking and management of assets/personnel in real time thus resulting with improved operational efficiency and staff productivity.
Airacom RTLS solutions have numerous applications in industries such as healthcare, manufacturing, logistics & transportation, government & defense, mining, oil & gas, retail, hospitality, education, and many others.
the future potential market for real-time location-based solutions includes industrial manufacturing such as automotive manufacturing, aerospace manufacturing & others, and process industries such as mining and oil & gas. These two industry verticals are estimated to be the emerging markets with a promising future and tremendous growth rate over the forecasted period from 2013 to 2020.
The overall Real-Time Location Systems market is expected to reach $ 3.70 billion by 2020 at an estimated CAGR of 31.2% from 2013 to 2020.The major driving factors for RTLS market’s growth include rapid increase in RTLS applications, rising customer awareness, increasing security & safety concerns in process industries (mining, oil & gas) & defense, technological advancements in hardware & software, declining cost of tags, and optimum resource utilisation through real-time asset/personnel location tracking.