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Fleet Management Propels Global RTLS Market in Transportation, Logistics
Market Research Reports has released a new study that forecasts the global real-time location system (RTLS) market in the transportation and logistics sectors. According to the report, the industry will achieve a compound annual growth rate of 49.23 percent during the period of 2016 to 2020.
RTLS technologies help users to track, manage and identify a target's geographical location, which can range from an object at a manufacturing facility to a vehicle or a person. To accomplish this, an RTLS solution—which is typically embedded in an object, such as a mobile phone or a navigational system—leverages wireless nodes or RFID tags and readers. Current real-time location systems leverage wireless technologies, such as Bluetooth, Wi-Fi or GPS. RLTS-enabled products are rapidly finding application at retail, logistics, transportation, health-care, military and supply chain management companies.
The end-use segment of transportation and logistics has substantially boosted the global RTLS market, the report indicates, due to the growing thrust on fleet management that necessitates the technology's use. Concerns about security and privacy, however, have acted as a market deterrent, the study notes. The report also indicates a prevalent trend in the market: the increased adoption of ultra-wideband (UWB) RTLS technology.
To examine the global RTLS market in the transportation and logistics sectors, the report segments data based on different parameters. For example, it divides the market into bar codes and QR codes, RFID, Wi-Fi and other technologies, then compares the different technologies and studies the differences between active and passive RFID systems. Application-wise, it divides the market into asset and inventory tracking, personnel tracking and others.
Geographically, the report divides the market into the Americas, Europe, the Middle East and Africa, and the Asia-Pacific region. It furnishes information regarding the size of the market within each region, based on revenue and sales, and also sheds light on their possible growth trajectory in the near future. To arrive at current market size, the report estimates the revenue generated from the use of RTLS solutions and tags in logistics and supply chain management, in both onshore and offshore projects and from out-of-band GPS, active RFID, passive RFID, AGPS and Wi-Fi technologies applied in transportation and logistics.
Key vendors profiled in the report include AiRISTA, CSR Group, Samsung, Ubisense and Zebra Technologies. The report studies the product offerings, market share and key strategies of the aforementioned players, in order to come up with insights on the current competitive scenario. A sample copy is available here.
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