Digital Lifescapes

Real-Time Location Systems (RTLS) are underutilized in many factories, warehouses, hospitals, and smart offices. Moreover, the typical systems offered by IT solution providers leverage standalone software deployments with proprietary hardware. However, IT hardware costs will drop as more customers abandon proprietary systems to reduce vendor lock-in, increase application interoperability, and reduce the initial deployment costs, according to the latest market study by ABI Research. As a result, the sector will diversify and complement hardware sales by monetizing deployments through service models augmented by additional software features -- such as analytics and device management. Real-Time Location Systems Market Development According to the latest ABI Research market forecast, RTLS service revenue will be worth $3.7 billion in 2022 and will rise to $24.9 billion by 2030, at a compounded annual growth rate (CAGR) of 26.8 percent. "As RTLS hardware, such as tags and anchors, beco...

Real-time locating systems (RTLS) are used to automatically identify and track the location of things in real-time within a building or other confined areas. While numerous existing RTLS technologies, including Bluetooth, Wi-Fi, and UWB have been available, they haven't captured the market potential. According to the latest worldwide market study by ABI Research, 87 percent of enterprises said they have not yet deployed RTLS technology within their business, primarily because of the significant barriers to adoption. Most of the challenges of RTLS deployment mentioned in the ABI study point to the fragmentation of existing solutions, which impact the total cost of ownership, the complexity to implement, operate and maintain them. There are also uncertainties around reliability and maturity. RTLS Technology Market Development "All the barriers identified by the survey are currently constraining the RTLS ecosystem from developing and flourishing. Current solutions addressing this...