North America Real-Time Location Systems Market Forecast to 2030 - Regional Analysis - by Offering (Hardware, Software, and Services); Technology [Radio Frequency Identification (RFID), Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrare

North America Real-Time Location Systems Market Forecast to 2030- Regional Analysis- by Offering (Hardware, Software, and Services); Technology [Radio Frequency Identification (RFID), Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Wi-Fi, ZigBee]; Industry Vertical (Heavy Industries, Manufacturing, Retail, Oil & Gas, Automotive, Construction, Government and Defense, Logistics, Others); and Application (Personnel/Staff Locating and Monitoring, Access Control and Security, Environmental Monitoring, Warehouse Management and Monitoring, Supply Chain Management and Operational Automation/Visibility, Others)
The North America Real-time location systems market is expected to grow from US$ 2,019.35 million in 2023 to US$ 8,368.78 million by 2030. It is estimated to grow at a CAGR of 22.5% from 2023 to 2030.

Rising Demand for Connected Devices Drive North America Real-Time Location Systems Market.

The demand for connected devices, including smartphones; tablets; and different wearable devices such as smartwatches, fitness trackers, VR headsets, web-enabled glasses, smart jewelry, and Bluetooth headsets, is increasing across the world. Smartphones and tablets help the user accurately track location information in real time. The devices help the user to know the real-time traffic scenario and find the fastest route to the destination. It also assists parents to monitor the movement of their children through different location-tracking apps. Therefore, the adoption of smartphones and tablets is increasing tremendously. According to the same report, smartphone adoption in North America was 84% in 2022 and is expected to climb to 90% by 2030. In many industries, wearables are used to track and manage personnel. For instance, miners can be tracked under deep tunnels and alerted if signs of distress occur. Similarly, wearables are used for dementia patients to track their location if they go missing or get themselves in danger and need emergency help. The demand for connected devices is increasing owing all the above benefits, which is fueling the growth of the North America real-time location systems market.

North America Real-Time Location Systems Market Overview

The North America real-time location systems market in North America is segmented into the US, Canada, and Mexico. North America is a technologically advanced region owing to factors such as a positive outlook for advanced hardware adoption, a high inclination toward technological innovation, high GDP, developed infrastructure, and favorable economic policies. The region has a highly developed manufacturing sector. The sector integrates real-time location systems to maintain a robust supply chain across verticals. For instance, in 2020, ILR Industries, a manufacturer of plastic products, deployed a real-time location system at its manufacturing facility in Hamilton, Ontario, Canada for monitoring and adhering to COVID-19 precautionary practices. The retail sector in North America is a major adopter of tracking Hardware, which facilitates data transfer and details from tags attached to objects using scanning systems, thereby enabling automatic identification and tracking. According to the International Trade Administration (ITA), in 2022, there were ~27 million e-commerce users in Canada, accounting for 75% of the Canadian population, and the number is expected to reach 77.6% by 2025. In March 2022, e-commerce sales were ~US$ 2.34 billion and are estimated to reach US$ 40.3 billion by 2025. North America has a well-established healthcare industry. Inventory management operations are efficiently performed using advanced technologies, which act as a prerequisite for several decision-making processes. Hospitals in the region are highly inclined toward implementing the best practices in the hospital supply management system to allow efficient inventory management. They are deploying a real-time location system, which can help healthcare professionals in the institution search for equipment in less time. In addition, the RTLS solution can also help track and monitor critical patients in ICU or patients with dementia and mental distress. The rising use of real-time location systems in healthcare infrastructure is supporting the growth of the real-time location system market. Moreover, North America has a highly matured construction industry. As the region is known for its high emphasis on labor safety, the demand for real-time location tracking is high, which may further contribute to the adoption of real-time location systems. All these factors are propelling the growth of the real-time location system market in North America.

North America Real-Time Location Systems Market Revenue and Forecast to 2030 (US$ Million)

North America Real-time location systems market Segmentation

The North America Real-time location systems market is segmented into offering, technology, industry vertical, application, and country.

Based on offering, the North America Real-time location systems market is segmented into hardware, software, and services. In 2023, the hardware segment registered a largest share in the North America real-time location systems market.

Based on technology, the North America Real-time location systems market is segmented into radio frequency identification (RFID), ultra-wideband (UWB),Bluetooth low energy (BLE), ultrasound, infrared (IR), gps, wi-fi, ZigBee. In 2023, the Bluetooth low energy (BLE) segment registered a largest share in the North America real-time location systems market.

Based on industry vertical, the North America Real-time location systems market is segmented into heavy industries, manufacturing, retail, oil & gas, automotive, construction, government and defense, logistics, and others. In 2023, the retail segment registered a largest share in the North America real-time location systems market.

Based on application, the North America Real-time location systems market is segmented into personnel/staff locating and monitoring, access control and security, environmental monitoring, warehouse management and monitoring, supply chain management and operational automation/visibility, others. In 2023, the supply chain management and operational automation/visibility segment registered a largest share in the North America real-time location systems market.

Based on country, the North America Real-time location systems market is segmented into the US, Canada, Mexico. In 2023, the US segment registered a largest share in the North America real-time location systems market.

AiRISTA Flow Inc, Aruba Networks, Impinj Inc, Qorvo Inc, Siemens AG, Sonitor Technologies AS, Stanley Black & Decker Inc, TeleTracking Technologies Inc, Ubisense Ltd, and Zebra Technologies Corp are the leading companies operating in the North America real-time location systems market.

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