Today’s competitive business environment is compelling enterprises to improve their operational efficiency, profits, and customer satisfaction, which is, in turn, driving the adoption of real-time location systems (RTLS) technologies. RTLS technology is used to track and locate assets or people in real time using radio frequency (RF) signals as a communication medium. The RTLS tags attached to the target objects provide location information in real time through automatic and continuous feedback. The implementation of RTLS offers several advantages including increased efficiency, improved quality, and cost saving, which is expected to boost its adoption and applications across industries such as logistics and transportation, manufacturing, defense, aerospace, oil and gas, healthcare, retail, mining, chemical, and among others. Some of the important applications of RTLS include asset tracking, work in progress tracking, patient’s activity tracking, and vehicle tracking.
With a deep understanding of the RTLS market, the industry experts at Infiniti helped the client with a comprehensive overview of the market including market size, market segmentation based on technologies and end user applications, and key competitors.
The Business Challenge
A leading engineering company based out of the US was facing challenges analyzing the market landscape for real-time location solutions in terms of the market size, market share of key players, market dynamics and the latest trends. Understanding the competitive landscape would help the company assess the market size and segment it into different technologies and end user applications. To understand the market’s growth potential, the client wanted to identify the upcoming niche segments and existing technologies in the market.
Our Research Methodology
To gain a broader perspective into the market, the analysts carried out exhaustive primary research comprising of 200-210 in-depth interviews and discussions with several industry experts, business executives, and market stakeholders. Moreover, the market assessment experts collated valuable information from various proprietary sources such as paid industry databases, annual reports, media platforms, news aggregators, industry forums, and company presentations.
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Our Solutions Helped the Client
- With a detailed characterization of the competitive landscape, growth drivers, and challenges
- Identify the key purchase decision makers and current purchase trends
- Assess market segmentation; by technology, region, and vertical.
- Assess the current, historical, and forecasted market size
Benefits of Our Integrated Approach
After a detailed analysis of the market landscape, the client gained a comprehensive overview of the RTLS market, products, and stakeholders, along with the product attribute analysis. This market assessment study also helped the client identify the competitive threats and opportunities in the market and make informed business decisions.