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Real-time Location Based Services: Four Predictions for 2019
This year will bring larger-scale rollouts, new market players, a growing number of partnerships, higher precision levels and broader interoperability among technologies.
Jan 17, 2019—
Location-based services (LBS) applications enabled by real-time location systems (RTLS) made great strides in 2018, with a wide variety of industries—in vertical markets ranging from manufacturing and logistics to sports to security—with each segment benefitting and deriving real business value from new applications powered by location-based data.
This year will see the LBS industry continue its momentum as a key sector that is not only growing (Research and Markets valued the RTLS market at more than $1.7 billion in 2017, and forecasted that it will rise to $13 billion by 2026), but also becoming increasingly sophisticated. Here is what I predict for the 2019 LBS and RTLS markets:
Although there are many examples of larger-scale RTLS deployments, most organizations, to date, have been testing systems on a smaller scale, capturing successes and then determining how to make a business case for a larger-scale deployment. In 2019, they'll have resolved the business case questions and begun rollouts of larger deployments. This will occur across several vertical markets, most notably manufacturing, transportation, the Industrial Internet of Things (IIoT), smart buildings and others.
This growth is being spurred by advancements in three key areas:
2) Vendors Will Cross-Pollinate Technologies to Deliver Potent LBS Applications
A third example of cross-pollination is that established BLE beacon vendors (providing devices for enabling BLE proximity with mobile phones) are finding new life for their hardware devices by extending their firmware functionalities. For example, companies can now enter a new market utilizing the same hardware, including both beacons and tags—for instance, a device mounted on a mobile platform which allows for high-accuracy BLE (using AoA) positioning and carrying a number of sensors for remote monitoring of the object status or environment conditions.
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