Real-Time Location System Market: With Geographic Segmentation, Statistical Forecast And Competitive Analysis Report To 2031
The real-time location systems (RTLS) market size is expected to grow from USD 5.2 billion in 2023 to USD 16.2 billion by 2028, at a CAGR of 25.5% from 2023 to 2028. A Real-Time Location System (RTLS) is a technology used to track and identify the current location of objects or people in real time within a defined area. This system utilizes various technologies such as radio frequency identification (RFID), global positioning system (GPS), ultra-wideband (UWB), Bluetooth Low Energy (BLE), Wi-Fi, or a combination of these to determine the position of assets or individuals accurately. Components of an RTLS: Tags or Transmitters : These are small devices attached to objects or worn by individuals. Tags emit signals that are detected by receivers in the RTLS infrastructure. Receivers or Anchors : Receivers are strategically placed throughout the area of interest to detect signals transmitted by tags. These receivers collect data and communicate with the RTLS so