According to the latest market research study released by Technavio, the global RTLS market in transportation and logistics sector is expected to grow at a CAGR of more than 49% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the global RTLS market in transportation and logistics sector based on technology:
Global RTLS market in transportation and logistics sector shares by technology 2015
Barcodes and QR code
The top three revenue contributing technology segments are discussed below:
In 2015, the RFID segment accounted for over 42% share in the global RTLS market in transportation and logistics sector and is expected to increase during the predicted period. In the transportation and logistics industry, RFID tags are mostly used for asset tracking and workforce management that helps the transportation industry to improve operational efficiency.
“The cost of RFID tags is rapidly declining owing its increased adoption and growing competition among various vendors in the industry. The RFID segment is categorized into active and passive RFID. The active RFID segment has entered the market whereas the passive RFID segment is expected to grow with the development of new applications,” says Abhishek Sharma, an industry expert at Technavio for research on machine to machine and connected devices.
There is a considerable demand for Wi-Fi based RTLS systems across the globe with the rapid implementation of Wi-Fi technologies. The Wi-Fi RTLS empower enterprises to boost the overall process, starting from WLAN management and security to asset tracking. Currently, Wi-Fi based RTLS are the prime solutions used in the field of location tracking and can be easily deployed, besides saving cost. Wi-Fi RTLS will eventually disrupt the active RFID markets, as it abolishes the need for proprietary reader infrastructure. A located object appears in its actual location atop an architectural floor plan for precise real-time tracking. A user can select inquiry sets of tags or individual tags to locate an asset, even though that object is locked away in a storage closet. RTLS can search across several Wi-Fi networks simultaneously, which aids in finding the location of equipment and helping people in the distant regions.
Barcodes and QR code
Barcode and QR code scanners guarantee the correct barcode reading and data transmission. The tags are used to recognize 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 ease and increase the correctness of the identification process. RTLS tags are used in the logistic sectors for indoor asset tracking. Most enterprises use RTLS to track assets as it helps them to increase efficiency and reduce costs. Cellular networks and satellites are often used to track assets on a real-time basis in the outdoor environments. However, the weak signal strength of GPS or cellular-based systems may make it difficult for the enterprises to track assets in factories and warehouses which calls for the need for low-cost RFID tags and barcodes. The demand for low-cost RFID tags is increasing rapidly as compared to barcodes as they can scan dozens of objects in a single second. RTLS provides real-time information about inventory to prevent stock outs. Moreover, it alerts logistics firm on the illegal removal of items and help in reducing theft inside the warehouses.
The top leading vendors operating in the global RTLS market in transportation and logistics sector are:
- CSR Group
- Zebra Technologies
Other prominent vendors in the market include Awarepoint, BeSpoon, Convergence Systems, DecaWave, Essensium, HID, IBM, Intelligent InSites, Identec Solutions, Mojix, PINC Solutions, Sewio, ThingMagic, and Tyco Security Products.
A more detailed analysis is available in the Technavio report titled, ‘Global RTLS Market in Transportation and Logistics Sector 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other 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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