The drive for indoor positioning and real-time location system (RTLS) stems from the need for streamlining productivity. In various end-use industries, the drive is also propelled by the need for constantly improving customer experience, mainly through the use of accurate and actionable data. Growing relevance of indoor positioning and RTLS for real-time personalized insights on customer trends is crucial factor shaping the contours of the market. Rising application of indoor positioning and RTLS for a wide variety of applications is propelling the growth of the market.
The use cases of RTLS and indoor positioning technologies in smart buildings and infrastructure, warehousing, data centers, sports, and livestock management is rising. Moreover, the demand for indoor positioning and RTLS is gathering steam in the industries such as hospitality, retail, and manufacturing.
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Players focus on improving the Interoperability of Technologies
Growing number of large-scale installations of indoor positioning and RTLS contributes sizeable revenues to the global indoor positioning and RTLS market. Internet of things is poised to play an increasingly significant role in large-scale installations in the near future. In all these, the interoperability of technologies receives wide industry attention. A host of technologies come under the ambit in the interoperability–Global Positioning System, ultra-wide band (UWB) and ultraband, and Bluetooth Low Energy.
Of the various technologies, UWB radio technology has been receiving increasing attention of technology players. Rising demand for reduced latency in RTLS and higher precision is reflecting well on the demand for UWB in the market. This is especially evident in robotics, warehousing, and sensory data transmission. However their commercialization is still hindered by the fact that the pricing of UWB-driven applications is on the higher side. This has slowed down the uptake in sensitive markets, thereby hampering the market’s prospects. Nevertheless, the rising incorporation of high-accuracy tracking capabilities will bolster the prospect of UWB.
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