Report : Middle East & Africa 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, and ZigBee]; Industry Vertical (Heavy Industries, Manufacturing, Retail, Oil & Gas, Automotive, Construction, Government and Defense, Logistics, and 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, and Others)
At 24.0% CAGR, the Middle East & Africa Real-Time Location Systems Market is speculated to be worth US$ 2,665.38 million by 2030, says Business Market Insights
According to Business Market Insights research, the Middle East & Africa Real-time location systems market was valued at US$ 590.56 million in 2023 and is expected to reach US$ 2,665.38 million by 2030, registering a CAGR of 24.0% from 2023 to 2030. Emergence of 5G and growing use of RTLS in healthcare sector are the critical factors attributed to the Middle East & Africa Real-time location systems market expansion.
The 5G network is ∼100 times faster than the 4G network, making real-time data acquisition easier. As the 5G network provides strong connectivity and high-speed data transfer, its demand is increasing across the world. As 5G is the critical new-generation network technology that can enable innovation and support digital transformation, its demand is increasing across the world. Therefore, the governments of various countries are investing in 5G infrastructure. Growing investments in 5G will help improve connectivity and acquire real-time data, including real-time location tracking, which can be used for various applications, from navigation to emergency services. Therefore, the emergence of 5G network is expected to create lucrative opportunities for the Middle East & Africa real-time location systems market during the forecast period.
On the contrary, rising concerns regarding data privacy and security hurdles the growth of Middle East & Africa Real-time location systems market.
Based on offering, the Middle East & Africa real-time location systems market is segmented into hardware, software, and services. The hardware segment held 68.2% share of Middle East & Africa Real-time location systems market in 2023, amassing US$ 402.73 million. It is projected to garner US$ 1,787.68 million by 2030 to expand at 23.7% CAGR during 2023–2030.
Based on technology, the Middle East & Africa 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 29.0% share of Middle East & Africa Real-time location systems market in 2023, amassing US$ 171.14 million. It is projected to garner US$ 704.28 million by 2030 to expand at 22.4% CAGR during 2023–2030.
Based on industry vertical, the Middle East & Africa 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 16.3% share of Middle East & Africa Real-time location systems market in 2023, amassing US$ 96.10 million. It is projected to garner US$ 534.93 million by 2030 to expand at 27.8% CAGR during 2023–2030.
Based on application, the Middle East & Africa 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 27.6% share of Middle East & Africa real-time location systems market in 2023, amassing US$ 162.80 million. It is projected to garner US$ 717.50 million by 2030 to expand at 23.6% CAGR during 2023–2030.
Based on country, the Middle East & Africa real-time location systems market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 33.6% share of Middle East & Africa Real-time location systems market in 2023. It was assessed at US$ 198.13 million in 2023 and is likely to hit US$ 885.17 million by 2030, exhibiting a CAGR of 23.8% during the forecast period.
Key players profiles in the Middle East & Africa real-time location systems market report AiRISTA Flow Inc, Aruba Networks, Impinj Inc, Siemens AG, Sonitor Technologies AS, Stanley Black & Decker Inc, and Zebra Technologies Corp, among others.
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