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For those who are unfamiliar, Real Time Location Systems (RTLS) are those systems which are used to locate and track assets or people in real time with the help of Radio Frequency (RF) signals as communication medium.
According to Research and Markets the global Real Time Location Systems (RTLS) market is estimated to grow at USD 3612.56 million by 2020.
Based on the technologies used, the market is further segmented into Radio Frequency Identification (RFID), WiFi, Ultra Wide Band (UWB), Ultrasound, Infrared (IR) and others which include Zigbee, GPS, Bluetooth Low Energy (BLE) and WhereNet.
One can observe that, UWB and WiFi technologies are identified as some of the growing technologies in the short and long terms,, while many are still dependent on passive RFIDs and barcodes due to lack of awareness.
The Real Time Location Systems (RTLS) tags attached to various target objects or assets, process and communicate the information with the help of a reader to a centralized server in order convert the data into real time business information.