The global real-time location systems Market will expand at a double-digit CAGR in the years to come and be worth US$3.86 bn by 2020. On the basis of application, it is expected that the demand for real-time location systems will be highest from the healthcare sector.
As per the lead author of this report, “one of the key factors driving the growth of the global real-time location systems (RTLS) Market is the various high-end features offered by the systems including high-efficiency, Asset Management Improvement, Savings of cost, and enhance workflow.”
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A large number of organizations and enterprises are making use of real-time location systems for identifying, tracking, and managing their assets such as tools, equipment, and Personnel in real-time by applying a tag or badge on them. This in turn will drive the growth of the market.
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With an increasing number of organizations realizing the benefits of using real-time location systems such as optimum resource utilization and asset management, the adoption of these systems will rise thereby driving the growth of the market.
Moreover, with the dropping prices of the components of real time location systems, the cost of these systems will reduce and drive further adoption. In addition to this the support received from the government will also help the market to grow in the years ahead.