Global RTLS for Industrial Applications Market Share, Trends and Forecasts Report 2020: Radiant Insights

RTLS is used to track asset, person, or any object in real-time basis. RTLS employs radio frequency identification (RFID) technology for communication, but some systems use optical (based on infrared waves) or acoustic (based on ultra sound) technology, either combined or separately. RTLS involves two components:

Tags: These are hardware components attached to the object that has to be tracked.
Readers: These are a combination of both hardware and software used to monitor signals emitting from the tag and determine the location of the object to which it has been attached.

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RTLS uses inexpensive radio tags and a cellular reader system to detect the presence and location of the containers. RTLS helps track assets within a smaller geographical area. RTLS provides passive or active information about the location of objects and generally tracks assets in confined areas where the required location points are covered with wireless nodes. RTLS enables transportation, healthcare, retail, and government organizations to monitor and track assets and resources more effectively. This helps in the optimal utilization of assets, streamlining of operations, and improvement of productivity. This ultimately enables enterprises to enhance their work processes. RTLS mainly uses technologies such as RFID, UWB, and Wi-Fi to locate objects.

Technavio’s analysts forecast the global RTLS for industrial applications market to grow at a CAGR of 31.14% during the period 2016-2020.

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