Europe RTLS Market By Technology (WiFi, UWB, Infrared [IR], Ultrasound, Bluetooth, GPS, and Others), By Component (Hardware, Software, and Services), By Industry Vertical (Healthcare, Retail, Transportation & Logistics, Manufacturing, Government, Education, Sports & Entertainment, Oil & Gas, and Others) – Forecast up to 2025
Overview:
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The Europe RTLS market is expected to witness significant growth during the forecast period 2019-2025. The market is driven by multiple factors, including increasing use-cases of RTLS across industries, increasing investment in workflow automation, and increasing adoption of RTLS solutions in the manufacturing sector. Additionally, heavy reliance on analytics solutions to handle the increasing volume of unstructured data coupled with a rising focus on smart workflow optimization is accelerating the growth of the Europe RTLS market. However, data security & privacy concerns and high upfront cost, along with the complexity of integrating with the existing infrastructure, are the key factors identified as restraints that will deter the progression of the Europe RTLS market.
RTLS solutions are designed to offer real-time insights to decision-makers, owing to continuous technological advancements in automatic identification & data capture (AIDC) technologies and expanding use case scenarios of RTLS across various industries. An increase in the adoption of RTLS in the industrial manufacturing sector is expected to accelerate the growth of the market. RTLS solutions are equipped to assist in tracking, monitoring, and analyzing the entire manufacturing process that could save both the cost and time of industrial manufacturers. All the assets, stocks, and raw materials, as well as goods in storage, could be precisely tracked through RTLS-based solutions.
Market Revenue and Segmentation Analysis:
The Europe RTLS market is expected to reach revenue of $XX million by 2025, growing at a double-digit CAGR during the forecast period 2019-2025.
The Europe RTLS market is segmented based on components, technology, industry verticals, and countries. In terms of technology, the market is segmented into WiFi, UWB, RFID, infrared (IR), ultrasound, Bluetooth, GPS, and others. Wi-Fi, followed by UWB, dominated the RTLS market in 2017. These technologies are anticipated to witness significant growth during the forecast period as well, mainly due to the availability of retrofit solutions and customer preference to utilize the existing WiFi infrastructure to reduce cost & complexity.
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Based on industry verticals, the Europe RTLS market is segmented into healthcare, retail, transportation & logistics, manufacturing, government/defense, education, sports & entertainment, oil & gas, and others. The healthcare segment contributed to the largest revenue share in 2018 and is projected to remain dominant during the forecast period. This is mainly due to hospital administrators’ focus on exploring options to move from partial RTLS deployments, which primarily concentrate on pharmacy tracking applications to a wider range of RTLS applications to create automated workflow environment, enhance patient safety, and eliminate manual efforts.
Country-wise Analysis:
The report also covers the country-wise analysis of the Europe RTLS market across UK, Germany, Russia, France, and others. Germany, followed by the UK, dominated the Europe RTLS market in 2018, and the trend is likely to continue throughout the forecast period. This is mainly due to stringent compliance requirements to enhance transparency and safety in healthcare settings and increasing investment automation solutions across industries.
Benefits and Vendors
The report contains an in-depth analysis of the vendors, which includes financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape. Few of the key players profiled in this study include Zebra Technologies Corporation, Stanley Black & Decker, Inc. (STANLEY Healthcare), Hewlett Packard Enterprise Development LP (Aruba Networks), Airista Flow, Inc., Siemens AG, Ubisense, Ubudu, Sewio Networks.s.r.o., Decawave, and Litum.
The study offers a comprehensive analysis of the “Europe RTLS market”. Bringing out the complete key insights of the industry, the report aims to provide an insight into the latest trends, current market scenario, and technologies related to the market. Besides, it helps the venture capitalists to understand revenue opportunities across different segments to make better decisions.
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Europe RTLS Market: Segmentation
– Europe RTLS Market, By Component
o Hardware
o Software
o Services
– Europe RTLS Market, By Technology
o WIFI
o UWB
o RFID
o Infrared (IR)
o Ultrasound
o Bluetooth
o GPS
o Others
– Europe RTLS Market: By Industry Vertical
o Healthcare
o Retail
o Transportation & Logistics
o Manufacturing
o Government/Defense
o Education
o Sports & Entertainment
o Oil & Gas
o Others
– Europe RTLS Market: By Country
o UK
o Germany
o Russia
o France
o Others
Market Dynamics:
Surging air traffic:
- As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability:
- The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability:
- The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization:
- The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation:
- The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems:
- The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology:
- Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation:
- The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets:
- Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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