Real-Time Location Systems Market Poised for Explosive Growth: $5.2 Billion to $16.2 Billion by 2028 (CAGR 25.5%)
The market for the services segment is expected to grow at the highest CAGR during the forecast period. The services segment mainly comprises deployment and integration services, support and maintenance, and consulting, which are necessary for the successful operation of a Real-time Location Systems Market . These services help deliver and implement solutions at customer sites and provide the required maintenance after implementation. Services are a critical part of the overall RTLS implementation, which can affect the budget of an enterprise significantly if ignored. The services cost includes installation and regular maintenance, which result in higher expenditure. The demand for consulting services will likely increase as consultation is the most critical parameter that helps decide the type and scale of an RTLS solution required for a specific use case. The access control & security application is projected to grow at a significant CAGR from 2023 to 2028. The prime concern of m