LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global RTLS market in the transportation and logistics sector is expected to grow at a CAGR of more than 49% during the forecast period.
This research report titled ‘Global RTLS Market in the Transportation and Logistics Sector 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Real-time location system (RTLS) is an emerging technology used to find, track, manage, and identify the geographical position of a target on a real-time basis with the help of nodes or tags, and readers. RTLS has applications in transportation, logistics, and supply chain management companies. Most of the demand for RTLS systems and tags originates from the Americas, followed EMEA and APAC.
The market is experiencing some major trends that will significantly impact the adoption of RTLS and radio frequency identification (RFID) solutions during the market forecast period. There is an increasing adoption of ultrawide band RTLS technology as it delivers correctness over short-to-medium distances. It is also comparatively more affordable than other technologies. In addition, the use of RTLS ensures safety and security of lone workers.
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Based on application, the report categorizes the RTLS market in the transportation and logistics sector into the following segments:
- Barcodes and QR codes
The top three revenue generating application segments in the global RTLS market in the transportation and logistics sector are discussed below:
“The RFID segment is expected to increase during 2015-2020. In the transportation and logistics industry, RFID tags are mainly used for asset tracking and workforce management. It helps this industry to improve its efficiency and the effectiveness of several of its operations. The decreasing costs of RFID tags is encouraging its wide scale adoption leading to a healthy competition among various vendors in the industry,” says Abhishek Sharma, one of the lead market analysts at Technavio for M2M and connected devices research.
The RFID segment can be broadly categorized as active and passive RFID. The active RFID segment has achieved significant market penetration. The passive RFID segment is expected to grow due to demand for new applications that are currently in R&D. Both the segments combined, are expected to grow at a CAGR of over 48% in the forecast period.
A located object appears is superimposed atop an architectural floor plan for precise real-time tracking. A user can query sets of tags or individual tags to locate an asset, even if the said object is locked away in a storage closet. RTLS can search across several Wi-Fi networks simultaneously, thereby enabling the location of equipment and people in distant regions.
The global demand for Wi-Fi based RTLS systems with the adoption of Wi-Fi technologies is expected to increase significantly during the forecast period. The Wi-Fi RTLS enable enterprises to enhance all processes, right from WLAN management and security, to asset tracking. Currently, Wi-Fi based RTLS are the primary solutions used in the field of location tracking as it can be easily deployed and saves cost.
Barcodes and QR codes
“Barcode and QR code scanners ensure the correct barcode reading and data transmission. The tags are used to identify the object to which they are usually attached. The identification process is called reading, and it is checked by specific sensor devices, which are called readers. The purpose of tags is to facilitate and increase the correctness of the identification process,” says Abhishek, explaining the working of the scanners.
RTLS tags are mainly used in the logistic sectors for indoor asset tracking, from large warehouses to retail outlets. It helps them to increase efficiency and reduce costs. To track assets in an outdoor setting, cellular networks and satellites are employed. However, the weak signal strength of GPS or cellular-based systems may make it difficult for enterprises to track assets in factories and warehouses. Low-cost RFID tags and barcodes are used to track assets in these controlled environments.
The top vendors highlighted by Technavio’s research analysts in this report are:
- CSR Group
- Samsung Networks
- Zebra Technologies
Browse Related Reports:
- RTLS Market in the US 2016-2020
- Global RTLS Market for Industrial Applications 2016-2020
- Global RTLS Market 2016-2020
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