At 29.8% CAGR, Asia Pacific Real-Time Location Systems Market is Projected to be worth US$ 12,275.10 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific real-time location systems market was valued at US$ 1,524.64 million in 2023 and is expected to reach US$ 12,275.10 million by 2031, registering a CAGR of 29.8% from 2023 to 2031. The emergence of 5G and the growing e-commerce sector are among the critical factors attributed to driving the Asia Pacific real-time location systems market growth.

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. According to the International Air Transport Association (IATA), in 2021, 2.14 billion people (i.e., ∼27.6% of the world’s population) shopped for products from online portals. In addition, APAC leads the global e-commerce market, where China accounts for a significant percentage of the regional market growth. As per the International Trade Administration, China is the largest e-commerce market across the world, generating ∼50% of the world’s transactions. In 2021, the country generated ∼US$ 1.5 trillion in revenue through the e-commerce sector, becoming the largest e-commerce market in the world. The growing demand for online shopping is compelling 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; it provides resourceful insights to distribution center operators to make data-driven decisions rather than relying on educated guesses. Additionally, SLAM technology is an essential tool for optimizing operations in the rapidly growing e-commerce sector. SLAM helps warehouses and distribution centers to track the exact location of goods and navigate autonomous systems such as robots and drones in indoor environments. SLAM ensures efficient inventory management, quick order processing, and accurate product delivery by providing real-time mapping and location data. This technology helps companies to streamline supply chain management. Thus, as e-commerce continues to expand, SLAM continues to play a crucial role in improving operational efficiency and driving the growth of the Asia Pacific real-time location system market.

On the contrary, rising concerns regarding data privacy and security hamper the growth of Asia Pacific real-time location systems market .

By offerings, the Asia Pacific real-time location systems market is divided into hardware, software, and services. The hardware segment held a 68.7% share of Asia Pacific real-time location systems market share in 2023, amassing US$ 1,047.18 million. It is projected to garner US$ 8,283.24 million by 2031 to register 29.5% CAGR during 2023–2031.

In terms of technology, the Asia Pacific real-time location systems market is segmented into RFID, UWB, BLE, ultrasound, infrared, GPS, Wi-Fi, and ZIGBEE. The BLE segment held a 30.0% share of Asia Pacific real-time location systems market share in 2023, amassing US$ 457.31 million. It is projected to garner US$ 3,304.50 million by 2031 to register 28.0% CAGR during 2023–2031.

Based on industry vertical, the Asia Pacific real-time location systems market is segmented into retail, government and defense, manufacturing, healthcare, logistics, heavy industries, construction, oil and gas, automotive, and others. The healthcare segment held 16.6% share of Asia Pacific real-time location systems market share in 2023, amassing US$ 253.43 million. It is projected to garner US$ 2,526.94 million by 2031 to register 33.3% CAGR during 2023–2031.

By application, the Asia Pacific real-time location systems market is divided into personnel or staff locating and monitoring, environmental monitoring, access control and security, warehouse management and monitoring, supply chain management and operation automation or visibility, and others. The supply chain management and operation automation or visibility segment held 28.2% share of Asia Pacific real-time location systems market share in 2023, amassing US$ 430.50 million. It is projected to garner US$ 3,408.87 million by 2031 to register 29.5% CAGR during 2023–2031.

Based on country, the Asia Pacific real-time location systems market is categorized into Australia, China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Taiwan, and the Rest of Asia Pacific. Our regional analysis states that China captured 20.1% share of Asia Pacific real-time location systems market in 2023. It was assessed at US$ 306.45 million in 2023 and is likely to hit US$ 2,837.53 million by 2031, registering a CAGR of 32.1% during 2023–2031.

Key players operating in the Asia Pacific real-time location systems market are AiRISTA Flow Inc, Aruba Networks, Impinj Inc, Kudan Inc, Microsoft Corp, NavVis GmbH, Qorvo Inc, Sevensense Robotics AG, Siemens AG, Slamcore Ltd, Sonitor Technologies AS, Stanley Black & Decker Inc, TeleTracking Technologies Inc, Ubisense Ltd, and Zebra Technologies Corp, among others.

• In 2024: Kudan Inc announced that a Japanese drone solution provider, KdLidar, will commercially release its product powered by Kudan Lidar SLAM for the global market.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com