Report : North America Real-Time Location Systems Market Forecast to 2030 - COVID-19 Impact and 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)
At 22.5% CAGR, the North America Real-Time Location Systems Market is speculated to be worth US$ 8,368.78 million by 2030, says Business Market Insights
According to Business Market Insights research, the North America Real-time location systems market was valued at US$ 2,019.35 million in 2023 and is expected to reach US$ 8,368.78 million by 2030, registering a CAGR of 22.5% from 2023 to 2030. Growing E-commerce sector and rising demand for connected devices are the critical factors attributed to the North America Real-time location systems market expansion.
Since the COVID-19 pandemic, there has been a surge in online shopping across the world. E-commerce sales have witnessed a significant growth rate over recent years. The growing demand for online shopping is pushing companies to make retail cost-efficient and faster, which raises the need to optimize supply chain management and build robust solutions to meet the demands. In the e-commerce sector, the real-time location system helps monitor and locate goods and provides resourceful insights to distribution center operators to make data-driven decisions rather than relying on educated guesses. Thus, the growing e-commerce sector and the increasing need for making data-driven decisions drive the real-time location system market growth.
On the contrary, rising concerns regarding data privacy and security hurdles the growth of North America Real-time location systems market.
Based on offering, the North America real-time location systems market is segmented into hardware, software, and services. The hardware segment held 68.4% share of North America Real-time location systems market in 2023, amassing US$ 1,382.19 million. It is projected to garner US$ 5,563.66 million by 2030 to expand at 22.0% CAGR during 2023–2030.
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. The bluetooth low energy (BLE) segment held 27.8% share of North America Real-time location systems market in 2023, amassing US$ 560.65 million. It is projected to garner US$ 2,145.16 million by 2030 to expand at 21.1% CAGR during 2023–2030.
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. The retail segment held 17.6% share of North America Real-time location systems market in 2023, amassing US$ 354.84 million. It is projected to garner US$ 1,794.84 million by 2030 to expand at 26.1% CAGR during 2023–2030.
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. The supply chain management and operational automation/visibility segment held 28.2% share of North America real-time location systems market in 2023, amassing US$ 569.57 million. It is projected to garner US$ 2,276.46 million by 2030 to expand at 21.9% CAGR during 2023–2030.
Based on country, the North America real-time location systems market is segmented into the US, Canada, Mexico. Our regional analysis states that the US captured 69.1% share of North America Real-time location systems market in 2023. It was assessed at US$ 1,395.65 million in 2023 and is likely to hit US$ 5,602.06 million by 2030, exhibiting a CAGR of 22.0% during the forecast period.
Key players profiles in the North America real-time location systems market report Hexagon 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, among others.
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