Since the COVID-19 pandemic, there has been a surge in online shopping across the world which has been considered as one of the vital factors fueling real-time location systems market size. E-commerce sales have witnessed a significant growth rate over recent years. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ?27.6% of the world's population) shopped for products from online portals. In addition, APAC leads the global e-commerce market, where China accounts for a significant percentage of the regional market growth. As per the International Trade Administration, China is the largest e-commerce market across the world, generating ? 50% of the world's transactions. In 2021, the country generated ? US$ 1.5 trillion in revenue through the e-commerce sector, becoming the largest e-commerce market in the world. Also, Europe is a key region supporting e-commerce growth. According to Eurostat, in 2022, 91% of people aged 16-74 years in the European Union (EU) countries used the internet, of which ? 75% ordered goods or services online. Also, the proportion of e-shoppers grew to 75% in 2022 from 55% in 2012, an increase of 20% over the last decade. Many shoppers in Europe prefer online shopping platforms such as Amazon, Target, and Walmart, which majorly drives the growth of the e-commerce sector in Europe. The growing demand for online shopping is pushing companies to make retail cost-efficient and faster, which raises the need to optimize supply chain management and build robust solutions to meet the demands. In the e-commerce sector, the real-time location system helps monitor and locate goods and provides resourceful insights to distribution center operators to make data-driven decisions rather than relying on educated guesses. Thus, the growing e-commerce sector and the increasing need for making data-driven decisions drive the real-time location systems market growth.

Key Findings of Study:

In the healthcare sector, RTLS is used to maintain patient safety and provide great experience and satisfaction. The technology can assist in tracking patient flow for throughput management, which can further help to recognize and address bottlenecks. It can also help to find solutions for the problems such as long waiting times; overcrowding in emergency rooms, outpatient clinics, and post-anesthesia care units; delay or rescheduling of surgeries; and shortage of beds for patients. RTLS technology is used in everyday operations or emergencies at hospitals to locate hospital assets such as beds, equipment, wheelchairs, and others quickly and reliably. In emergencies and when the hospital is nearing capacity, RTLS can help notify the availability of a bed when a patient is discharged. Through this, hospitals can achieve up to 50% faster bed turnover times which fuels RTLS demand in the healthcare sector and foster real-time location systems market growth.

In addition, the technology can assist in keeping track of medical devices such as IV pumps, ICU ventilators, and defibrillators to ensure their availability when needed, thus can help to save the life of critical patients. Furthermore, by using RTLS, patients or staff members can be tracked. For instance, patients suffering from mental distress who must be watched closely can be easily tracked through RTLS technology if they wander away from their treatment area or into other parts of the facility. The RTLS-embedded solution will send an alert whenever patients cross a virtual boundary into an unauthorized area. It can provide a high level of security to patients and reduce the time of staff members, which should be devoted to directly monitoring these patients. As the RTLS technology can help track assets and patients, its demand is expected to increase in the healthcare sector and fuel the healthcare's real-time location systems market share during the forecast period.

The retail industry constitutes Fast Moving Consumer Goods (FMCG) companies, apparel chains, supermarkets, and hypermarket stores that reach the end customers directly. The industry encompasses a large amount of supply chain management, including the end-to-end process of merchandise planning, procurement, movement, and sales. The process is integrated where every aspect is interlinked; thus, information passing at every node or link becomes essential. With the help of this gathered information, retailers carry out activities such as planning, warehousing, sourcing, procuring, inbound and outbound transportation, and finally, the movement of the merchandise to the end customer. For the efficient management of a continuous supply of merchandise at the right place and time, gathered data plays an important role. They help retailers in reducing cycle times and attain greater efficiencies. A balance between demand and supply is a prerequisite for operational efficiency in the retail industry. Cost of holding inventory, product life cycle, and consumer behavior factors can be analyzed and evaluated to be implemented into operations can result in cost savings. The data captured at every node of operation allows end-users to see products being processed through various stages and streamline workflows in different areas. Thus, such benefits provided by RTLS by gathering the data and optimize the operation in the retail industry, the adoption of RTLS is gaining traction and fostering retail segment's real-time location systems market share.

Consequently, retailers succeed in providing seamless in-store customer service, error-free inventory management, efficient self-service option for the customers, and easier application of analytics. In January 2023, Quuppa and Datalogic announced a partnership to offer the Joya Touch 22 shopping companion, integrated with Quuppa's Intelligent Locating System. The solution provides real-time tracking of customer locations, enabling personalized offers, promotions, and efficient workflow management.

The real-time location systems market analysis" is carried out by identifying and evaluating key players in the market across different regions. Aruba Networks (HP Enterprise); Airista Flow, Inc.; Decawave Limited; Impinj, Inc; Sonitor Technologies; Stanley Healthcare; Siemens; Teletracking Technologies, Inc.; Ubisense Ltd; and Zebra Technologies Corp., and various other prominent players profiled in real-time location systems market report.

The scope of the real-time location systems market report is primarily divided into North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Rising demand for connected devices and rise in e-commerce industry is some of the major driving factors, which play an important role in determining the real-time location systems market forecast.

Based on component, the real-time location systems market is segmented into hardware, software, and services. The hardware segment held the largest real-time location systems market share in 2022 accounting for 68.4% and is expected to account for 66.9% by 2030. The hardware used for real-time location systems consists of the hardware used for real-time location systems consists of Anchors, Tags, Modules, Transceivers, Location Engine, Kits, Sensors, and more. These components are integrated with a software solution such as radio frequency identification (RFID), Wi-Fi, ultra-wideband (UWB), bluetooth low energy (BLE), ultrasound, infrared (IR), GPS, and other systems for tracking and monitoring various assets of organization. Also, these hardware components play a crucial role in collecting and transmitting location data in real time. Benefits of RTLS hardware include accurate asset tracking, improved operational efficiency, enhanced safety and security, and optimized supply chain management. In the healthcare industry, real-time location systems are widely used to track lifesaving equipment using Wi-fi and RFID technologies for routine maintenance and in emergencies. Hardware providers partner with software providers to deploy complete solutions according to the requirement of end users. Industries such as healthcare, manufacturing, logistics, and retail heavily rely on RTLS hardware for asset management, inventory control, personnel tracking, and seamless operations. The hardware enables organizations to gain real-time visibility into their assets, enhance productivity, and make informed decisions based on location intelligence. Ultra-wideband (UWB) technology is gaining traction in multiple industries such as healthcare, manufacturing, logistics, and transportation, where precise asset tracking and location-based services are of paramount importance. Moreover, rise in adoption of RTLS in the healthcare is expected to bring new real-time location systems market trends in the coming years.

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