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Real-Time Location Systems Market Skyrockets to $40.70 Billion by 2031 Dominated by Tech Giants – Aruba Networks, AiRISTA Flow Inc and Qorvo Inc | The Insight Partners

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The global real-time location systems market is set for explosive growth, with projections indicating a surge to $40.70 billion by 2031. This remarkable expansion, driven by increase in demand for tube and clamp scaffolding.

NEW YORK, Nov. 12, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the global real-time location systems (RTLS) market is observing healthy growth owing to the rising demand for connected devices. The report runs an in-depth analysis of market trends, key players, and future opportunities. For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/real-time-location-systems-market-research

The RTLS market primarily comprises hardware/component providers, RTLS manufacturers, system integrators, and end users. The RTLS consists of components such as software, transmitters, receivers, smart devices, infrared tags, and other types of tags. These components are further provided to RTLS manufacturers for the production of a system.

For More Information and To Stay Updated on The Latest Developments in The Real-Time Location Systems Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPTE100000390/

Market Overview and Growth Trajectory:

Real-Time Location Systems Market Growth: According to an exhaustive report by The Insight Partners, the Real-Time Location Systems Market is experiencing significant growth, driven by the growing use of RTLS in the healthcare sector. The market, valued at $6.16 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 26.6% during 2023–2031.

The demand for connected devices, including smartphones, tablets, and different wearable devices, such as smartwatches, fitness trackers, VR headsets, web-enabled glasses, smart jewelry, and Bluetooth headsets, is increasing across the world. Smartphones and tablets help the user accurately track location information in real time. The devices help the user to know the real-time traffic scenario and find the fastest route to the destination. It also assists parents to monitor the movement of their children through different location-tracking apps.

Rising Demand for Connected Devices: The adoption of connected devices such as smartphones and tablets are increasing tremendously. According to the Groupe Speciale Mobile Association (GSMA), smartphone adoption across the world was 76% in 2022, totaling 6.4 billion smartphone connections. The adoption is expected to rise to 92% by 2030, making 9 billion connections globally. According to the same report, smartphone adoption in North America was 84% in 2022 and is expected to climb to 90% by 2030. Similarly, the smartphone adoption rate in Europe would increase from 84% in 2022 to 91% by 2030. In Sub-Saharan Africa, an underpenetrated market, the smartphone adoption rate is predicted to grow from 51% in 2022 to 87% by 2030. This is further boosting the integration of real-time location systems across the world.

Growing E-Commerce Sector: There has been a surge in online shopping across the world. E-commerce sales have witnessed a significant growth rate over recent years. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ∼27.6% of the world’s population) shopped for products from online portals. In addition, APAC leads the global e-commerce market, where China accounts for a significant percentage of the regional market growth. As per the International Trade Administration, China is the largest e-commerce market across the world, generating ∼50% of the world’s transactions.

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Emergence of 5G: The 5G network is ∼100 times faster than the 4G network, making real-time data acquisition easier. As the 5G network provides strong connectivity and high-speed data transfer, its demand is increasing across the world. According to the Groupe Speciale Mobile Association (GSMA), 5G penetration across the world is expected to reach 54% by 2030 from 17% in 2022. North America has the highest 5G penetration, with 39% in 2022; it is expected to reach 91% by 2030. 5G penetration in Asia Pacific (except China) and Europe is expected to increase from 4% and 11% in 2022 to 41% and 87% by 2030, respectively.

Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.

Real-Time Location Systems Market Segmentation, Applications, Geographical Insights:

Based on offering, the real-time location systems market is segmented into hardware, software, and services. The hardware segment held the largest share of the market in 2023.By technology, the real-time location systems market is segmented into RFID, UWB, BLE, Ultrasound, Infrared, GPS, Wi-Fi, and ZIGBEE. The BLE segment dominated the market in 2023.In terms of industry vertical, the real-time location systems market is categorized into retail, government and defense, manufacturing, healthcare, logistics, heavy industries, construction, oil and gas, automotive, and others. The healthcare segment held a larger share of the market in 2023.By application, the real-time location systems market is segmented into personnel or staff locating and monitoring, environmental monitoring, access control and security, warehouse management and monitoring, supply chain management and operation automation or visibility, and others. The supply chain management and operation automation or visibility segment dominated the market in 2023.The real-time location systems market is segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South & Central America.  

Purchase Premium Copy of Global Real-Time Location Systems Market Size and Growth Report (2023-2031) at: https://www.theinsightpartners.com/buy/TIPTE100000390/

Key Players and Competitive Landscape:

The Real-Time Location Systems Market is characterized by the presence of several major players, including:

Aruba NetworksAiRISTA Flow IncQorvo IncImpinj IncSiemens AGZebra Technologies CorpSonitor Technologies ASStanley Black & Decker IncTeleTracking Technologies IncUbisense LtdSlamcore LtdKudan IncMicrosoft CorpSevensense Robotics AGNavVis GmbH

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Real-Time Location Systems Market Recent Developments and Innovations:

“Houston Airports partnered with HPE Aruba Networking””Sonitor and Spectralink announced a strategic partnership””Ubisense announced a strategic partnership with Advanced Realtime Tracking (ART)””Slamcore, a leader in vision-based location mapping, partnered with Intralink”

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Real-Time Location Systems Market Drivers, Challenges, Future Outlook and Opportunities:

The market growth in North America is attributed to the increasing number of internet users. According to the World Bank Group, ~92% of the population in the region uses the Internet. Such high Internet penetration in the region is fueling the growth of the e-commerce industry in North America. According to the Census Bureau of the Department of Commerce, the US retail e-commerce sales for the first quarter of 2024 was US$ 289.2 billion, an increase of 2.1% compared to the fourth quarter of 2023. Thus, the growth of the e-commerce industry is driving the real-time location systems market in North America.

Real-time location systems (RTLS) are used to determine the location of an object or a person. They can accurately locate, track, and manage assets, inventory, or people and help companies make knowledgeable decisions. The system consists of a transponder, a receiver, and software to interpret the data. RTLS transmitters or receivers are spaced throughout a building to provide the desired coverage. RTLS is used across many end-use verticals, such as heavy industries, manufacturing, retail, oil & gas, automotive, transportation and logistics, construction, government and defense, and education. Also, they are used for specific applications such as employee tracking and high-value asset tracking. The growing use of RTLS in the healthcare industry is significantly bolstering the growth of the real-time location systems market. In May 2022, Sonitor (a provider of ultrasound-based RTLS and indoor positioning systems) showcased its flagship SenseTM RTLS technology at the Oracle Cerner Healthcare Conference. The live demonstrations highlighted the clinical benefits of Sonitor’s platform, including enhanced patient care, improved operational efficiencies, and infection control management. The company’s reliable and accurate RTLS technology and seamless integration capabilities have helped the company attract a number of customers desiring RTLS solutions.

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The growing penetration of ultra-wideband (UWB) technology-based RTLS solutions that provide highly accurate positioning data with low power consumption is bolstering the growth of the real-time location systems market. End-use industries, such as healthcare, manufacturing, and logistics, are demanding UWB technology-based RTLS solutions to improve efficiency, shorten lead times, and reduce costs. The rising demand for RTLS solutions from sports, entertainment, and automotive sectors is also driving the market. The availability of indoor tracking is encouraging the healthcare vertical to opt for RTLS, which is expected to further fuel the market growth in the coming years. Bluetooth Low-Energy (BLE) solutions are cheaper and easier to integrate with existing systems and devices, and they offer a detection accuracy of up to 1.5 meters. In May 2023, u-blox launched a u-blox NINA-B5 Bluetooth LE series of standalone modules for the automotive industry. Thus, the growing use of BLE solutions is boosting the growth of the real-time location systems market. Moreover, the abilities of RTLS to analyze and eliminate workflow bottlenecks and save time and money are bolstering the market growth.

The offering segment highlights various components that are used to make up real-time location systems, from physical components to supporting services. Hardware components provide physical infrastructure, while the software components enable the analysis and data processing. On the other hand, the services ensure the successful implementation of the systems. The hardware used for real-time location systems consists of anchors, tags, modules, transceivers, location engine, kits, sensors, and more. These components are integrated with a software solution such as RFID, Wi-Fi, UWB, BLE, ultrasound, IR, GPS, and other systems for tracking and monitoring various assets of an organization. Hardware providers partner with software providers to deploy complete solutions according to the requirements of end users. Industries such as healthcare, manufacturing, logistics, and retail heavily rely on RTLS hardware for asset management, inventory control, personnel tracking, and seamless operations. Similarly, the hardware used for simultaneous localization and mapping (SLAM) consists of sensors such as RGB-D cameras, light detection and ranging (LIDAR), and GPS; processing units such as graphics processing unit (GPU) and single instruction multiple data (SIMD) calculation; and more. These components play a vital role in enabling SLAM technology to build and update maps, operate efficiently and simultaneously, and understand the environment. This helps the implementation of the SLAM technology in various growing industries, such as automotive, oil & gas, government and defense, and others.

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Conclusion:

Increased demand for real-time location systems in developing economies, such as India and China, is expected to create lucrative opportunities for market players in Asia Pacific during the forecast period. The growing manufacturing, retail, and logistics industries are raising the need for asset tracking, fueling the demand for real-time locating systems in the region. The rising demand for RTLS and SLAM in the above industries is pushing the market players to provide advanced solutions to customers. According to the State Council of China, the retail industry is booming in the country with an increased sales of 11% in 2023 accounting 2.24 trillion compared to the previous year. The growing demand for advanced technologies in these countries is expected to fuel the growth of the real-time location systems market in APAC.

With projected growth to $40.70 billion by 2031, the Real-Time Location Systems Market represents a significant opportunity for hardware/component providers, system integrators, investors, RTLS manufacturers, industry stakeholders and end users. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

Related Report Titles:

RTLS for Healthcare Market Size, Share, & Growth by 2030Maritime Real-Time Positioning System Market Analysis and Forecast by Size, Share, Growth, Trends 2031Real-Time Tracking Management System Market Size and Forecasts (2021 – 2031)Location Intelligence Market Size and Forecasts (2021 – 2031)SLAM Technology Market Size and Forecasts (2021 – 2031)Emergency Location Transmitter Market Size and Forecasts (2021 – 2031)Environmental Monitoring Market Size and Forecasts (2021 – 2031)Warehouse Management System Market Size & Share Report 2030 

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/real-time-location-systems-market-research

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Stryker launches next generation of SurgiCount+ to help improve the standard of care in hospitals for sponge management and blood loss assessment

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PORTAGE, Mich., USA, Nov. 14, 2024 /PRNewswire/ — Stryker (NYSE:SYK), a global leader in medical technologies, announced its launch of the next generation of SurgiCount+ within its sponge management portfolio. Now integrated with Stryker’s Triton technology, SurgiCount+ addresses two key challenges: retained surgical sponges and blood loss assessment. Integrating these previously separate digital solutions provides the added benefit of a more efficient, streamlined workflow for hospitals.

Maternal mortality has been rising in the U.S. for decades,1 with approximately 50,000 cases of severe maternal morbidity occurring each year.2 Notably, 70% of pregnancy-related deaths due to hemorrhage are preventable.3 Stryker’s Triton software includes AI technology that can differentiate blood from other fluids and a Bluetooth scale that batch weighs blood-soaked items to help assess blood loss. This provides hospital staff with real-time information to help coordinate the clinical team’s hemorrhage response and make informed patient care decisions.

Surgical sponges continue to be the number one retained surgical item with 88% of retained surgical items occurring with a false correct count.4 For nurses trying to locate a missing sponge in the operating room (OR), that can take up to 10 minutes on average.5 Stryker’s SurgiCount+ software helps address these problems by featuring a wireless reader that counts, tracks and locates surgical sponges in the OR. RFID-tagged sponges enable unique identification, eliminating false-correct duplicate or unknown counts.

“We are committed to helping keep caregivers and patients safe from harm,” said Brandon Jominy, vice president and general manager of Stryker’s Surgical Technologies business. “Integrating our SurgiCount+ and Triton technologies on one platform will set a new industry standard for quantifying blood loss and continuing to help reduce retained surgical sponges in the OR.”

Additionally, recent studies show that nurse burnout is affecting more than half of all U.S. nurses.6 By integrating these two technologies into one solution, it provides additional benefits to hospitals and staff which includes:

Helping save time by standardizing clinical protocols for chartingSimplifying workflows and aggregating case data with backend dataHelping reduce manual data entry errors through real-time EMR integrationTracking and communicating patient information with one seamless workflow

For more information about Stryker’s SurgiCount+ integrated with Triton please visit safeor.com/products/surgicount-triton.

About Stryker
Stryker is a global leader in medical technologies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Alongside its customers around the world, Stryker impacts more than 150 million patients annually. More information is available at stryker.com.

Media contact
Beth Sizemore
Sr. Director, Strategic Communications
beth.sizemore@stryker.com

 

1. Hoyert DL. Maternal mortality rates in the United States, 2021. NCHS Health E-Stats. 2023. DOI: https://dx.doi.org/10.15620/cdc:124678

2. Callaghan, W.M., Creanga, A.A. and Kuklina, E.V. (2012) “Severe maternal morbidity among delivery and postpartum hospitalizations in the United States,” Obstetrics & Gynecology,120(5), pp. 1029–1036. doi:10.1097/aog.0b013e31826d60c5.

3. Building U.S. Capacity to Review and Prevent Maternal Deaths. (2018). Report from nine maternal mortality review committees. https://www.cdcfoundation.org/sites/default/files/files/ReportfromNineMMRCs.pdf

4. Gawande, A. A., Studdert, D. M., Orav, E. J., Brennan, T. A., & Zinner, M. J. (2003). Risk factors for retained instruments and sponges after surgery. The New England Journal of Medicine, 348(3), 229–235. https://doi.org/10.1056/NEJMsa021721 

5. Double-blinded survey of 154 Operating Room Nurses from 154 different facilities across the United States. Data on file internally. Conducted August 2020.

6. Rotenstein, L.S., Brown, R., Sinsky, C. et al. The Association of Work Overload with Burnout and Intent to Leave the Job Across the Healthcare Workforce During COVID-19. J GEN INTERN MED 38, 1920–1927 (2023). https://doi.org/10.1007/s11606-023-08153-z

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14,000 Consumers Weigh In: Kearney Consumer Institute Releases Keeping Up with the Consumer – New Report Identifies Key Tension Points Informing Consumer Choices, Brand Selection, and What’s Behind “Unpredictable” Consumer Behavior

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November 14, 2024

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Key Findings:

Brands are pumping out more choices than consumers need or want.Consumers streamline their needs spending to enable discretionary spend.Brands and retailers need to revert to EQ and great merchandising.

CHICAGO, Nov. 14, 2024 /PRNewswire/ — The Kearney Consumer Institute (KCI), an internal think tank of global strategy and management consultancy Kearney, today released a consumer research report that upends much of the conventional wisdom around brand proliferation, over-reliance on data, and consumer choices. Based on survey data from 14,000 consumers across the US, Europe, and APAC, Keeping Up with the Consumer examines buyers’ unpredictable, seemingly quixotic behaviors, identifies the underlying tension points that explain them, and concludes that brands are massively under-accounting for the human element that drives purchase decisions.

“Brands have more data than ever about consumer demographics, behavior, spending, and opinions. But we still often categorize consumer behavior as ‘unpredictable.’ To understand why, our research found three key consumer tensions that help explain this behavior,” notes KCI lead Katie Thomas. “As options and access grow, consumers’ lives are only getting more complicated. Sometimes we get lost in one side of a narrative, without realizing the strain it puts on consumers.” The research identified the following three friction points:

Options vs. overload: Consumers seem to expect a product that suits each type of skin, diet, or fitness need. Yet, in many major categories, most consumers believe there’s already plenty to choose from—if not too much.

Curation vs. control: Two out of three consumers say they like making all their decisions themselves. But it’s logical that consumers want (and need) some level of curation to make sense of all their options.

Facts vs. feelings: Consumers want to “do their own research” (and they trust themselves more than they trust brands and institutions), but have limited reserves of time, energy, and motivation.

Keeping Up with the Consumer explores consumer shifts since 2016, when the KCI released The Future Consumer. Then, brands were focusing on the power of influence, a socially driven approach centered on “authenticity.” However, as the “influence” approach became more common, it lost some appeal and started to feel less authentic. Meantime, dramatic changes to the consumer landscape—from COVID-19 to political unrest to the emergence of new social media and shopping platforms—helped consolidate this massive shift.

The research suggests that retailers and brands aren’t striking the right balance between facts versus feelings, curation versus control, and too many choices. Noted Thomas, “When retailers and brands balance the tension, applying emotional intelligence and great merchandising, they will better navigate the mindset of the future consumer to address their needs.”

“Here, we see the push–pull between consumers and brands,” Thomas says. “Sometimes brands should lead consumers forward; but sometimes, the better choice is following consumer behavior. The key is understanding the complex, nuanced, and sometimes unexpected tensions that will crop up next.”

Read the full report by clicking this link.

For more information, or to schedule an interview with Katie Thomas or receive a copy of the Keeping Up with the Consumer report, please contact:

MKPR/Meir Kahtan
+1 917-864-0800
mkahtan@rcn.com

About the Kearney Consumer Institute

The Kearney Consumer Institute (KCI) perspective. By leveraging consumer behavior data and insights, the KCI helps generate conversation, and ultimately action, around how to address consumer needs with meaningful benefits.

Using a consumer-first lens the KCI looks at today’s consumer revolution not by thinking about consumers, but by thinking like consumers. Our consumer-centric approach includes simple, precise, plain-language conversations on topics like trends, consumer communities, convenience, loyalty, service, fair pricing, and product development and technologies.

About Kearney
Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. www.kearney.com

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GovInvest Reports Triple-Digit Quarterly Growth Fueled by New Customer Wins and Industry Recognition

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November 14, 2024

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LOS ANGELES, Nov. 14, 2024 /PRNewswire/ — GovInvest, the pioneer of compensation analytics technology for government agencies, is celebrating a record third quarter in 2024, marked by significant new customer growth, regional expansion, and industry recognition. Over the past quarter (July-September 2024), GovInvest achieved an impressive 125% quarter-over-quarter increase driven by new client partnerships and strengthened relationships with existing customers through expanded solutions.

With its comprehensive suite of labor costing, budgeting, and compensation analytics solutions, GovInvest empowers public sector organizations to streamline operations, bridge the gap between HR and finance, and make smarter workforce decisions. By providing real-time, data-driven insights, the platform helps agencies attract top talent, optimize budgets, and improve employee satisfaction—critical advantages during today’s labor crisis.

Nationwide Customer Growth
Q3 2024 client wins and expansions included new deals in California, Georgia, Ohio, Rhode Island, Iowa, Texas, and Washington. These recent additions highlight GovInvest’s continued momentum in its core California market, where cities like San Bernardino, Beverly Hills, and San Marcos have deepened their use of GovInvest solutions. At the same time, the company is experiencing significant geographic growth, with new clients across diverse regions such as Georgia, Texas, and Washington, demonstrating its expanding national footprint and ability to address the labor costing and budgeting needs of government agencies nationwide.

“We’re excited to see such strong customer growth this past quarter in every geographic market, particularly in the southeast and pacific northwest,” said Michael Fryke, CEO of GovInvest. “This expansion underscores the trust that public sector agencies have in GovInvest’s ability to deliver powerful, data-driven solutions that address their labor costing and budgeting needs. We’re proud to partner with these organizations as they tackle today’s workforce challenges and plan for future success.”

Industry Recognition and Strategic Partnerships
GovInvest’s industry recognition further solidified its leadership in the government services sector. The company was named to the 2024 Inc. 5000 list, ranking 95th in the Government Services sector. This prestigious recognition honors the fastest-growing private companies in America and highlights GovInvest’s rapid growth even amid inflationary pressures and labor market challenges.

“We are deeply humbled by the opportunity to not only make the Inc. 5000 list but to have earned a position within the top 100 Government Services companies,” said Michael Fryke, CEO of GovInvest. “Our success is driven by the dedication of our customers and team, who work tirelessly to provide cutting-edge solutions to help governments make smarter, data-driven workforce decisions.”

In addition, GovInvest announced a strategic partnership with CPS HR Consulting, designed to deliver advanced, technology-driven solutions for compensation consulting. This collaboration further positions GovInvest as a leader in the government services sector, enhancing its value proposition for public sector agencies seeking smarter workforce strategies.

Strengthening Industry Ties
GovInvest’s involvement in key industry events continued to drive its momentum in Q3 2024, including being selected as a sponsor for the PSHRA (Public Sector HR Association) Annual Conference in September. GovInvest showcased its commitment to supporting human resource and public sector professionals with ongoing education and technological innovation.

Customer Webinars Resonating with Agencies
GovInvest’s client webinars also gained traction, with a particular focus on labor costing and workforce planning in the face of inflation and wage compression. The “Effective Labor Negotiations in an Era of Union Empowerment” webinar, featuring Chris Moses, Director of Human Resources for the City of Columbus, OH, provided public agencies with actionable insights into navigating today’s complex labor landscape with GovInvest’s tools. The session resonated with many participants, reinforcing GovInvest’s position as a thought leader in the government analytics space.

“With GovInvest, we’re able to show the unions exactly where we stand financially, making negotiations more transparent,” Moses said. “The trust that we’ve built through these accurate, real-time projections has been invaluable.”

Looking Ahead
As GovInvest looks ahead to continued growth, the company remains dedicated to providing the most advanced labor costing and compensation solutions for government agencies across the country. With a strong foundation of customer success and industry recognition, GovInvest is poised to drive further innovation and transformation in the public sector.

About GovInvest
Founded in 2014, GovInvest empowers over 1,000 public sector agencies nationwide to run their own labor, compensation, and benefits analysis at a fraction of the cost and time through powerful software solutions and hands-on consulting. With a commitment to transparency, efficiency, and equity, GovInvest empowers government leaders to make data-driven decisions, attract top talent, and enhance the effectiveness of their operations. To learn more, visit www.govinvest.com.

CONTACT: Christen Clegg, christen@govinvest.com

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