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Reduced Cost of RFID Tags to Boost Growth
Pennsylvania Ag Connection - 07/14/2020

Technavio has been monitoring the real-time location systems (RTLS) market and it is poised to grow by $19.03 billion during 2020-24, progressing at a CAGR of 47% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AiRISTA Flow Inc., General Electric Co., Halma Plc, HP Inc., Link Labs Inc., Sewio Networks Sro, Sonitor IPS Holding AS, Stanley Black & Decker Inc., Ubisense Ltd., and Zebra Technologies Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The reduced cost of RFID tags has been instrumental in driving the growth of the market. However, high implementation costs might hamper market growth.

Real-Time Location Systems (RTLS) Market 2020-2024 : Scope

Technavio presents a detailed picture of the real-time location systems (RTlS0 market by the way of study, synthesis, and summation of data from multiple sources. Our real-time location systems (RTLS) market report covers the following areas:

This study identifies the rising demand for RTLS in transportation and logistics as one of the prime reasons driving the real-time location systems (RTLS) market growth during the next few years.

RTLS Market 2020-2024 key highlights include:

- CAGR of the market during the forecast period 2020-2024

- Detailed information on factors that will assist real-time location systems (RTLS) market growth during the next five years

- Estimation of the real-time location systems (RTLS) market size and its contribution to the parent market

- Predictions on upcoming trends and changes in consumer behavior

- The growth of the real-time location systems (RTLS) market

- Analysis of the market's competitive landscape and detailed information on vendors

- Comprehensive details of factors that will challenge the growth of real-time location systems (RTLS) market vendors

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