South & Central America Real-Time Location Systems Market

The South & Central America real-time location systems market was valued at US$ 307.73 million in 2023 and is expected to reach US$ 1,265.77 million by 2031; it is estimated to register a CAGR of 19.3% from 2023 to 2031.

Technological Advancements Associated with RFID Drives South & Central America Real-Time Location Systems Market

RTLS and RFID are commonly heard in manufacturing and healthcare sectors industries. Although they provide similar benefits, they are distinct solutions with notable differences to serve unique and distinct purposes. Major market players are involved in technological developments in Radio Frequency Identification (RFID) and its implementation across various applications. For instance, in May 2023, Fresenius Kabi launched the RFID-enabled Rocuronium Bromide Injection to cater to the growing requirement for RFID technology in the medical field. This product launch supports a recent ASHP Foundation study by improving patient safety, streamlining inventory management, and minimizing errors. In addition, ultra-wideband (UWB) is one of the fastest-growing technologies; as a result, the adoption of UWB-based RTLS for healthcare applications is expected to grow in the coming years. This technology functions similarly to active RFID, where RF energy is continuously sent into the environment, which is detected by receivers. The awareness about UWB is growing as it provides various benefits such as high precision, long battery life, high capacity, and fast update rates. Owing to these benefits, UWB technologies are well-suited for high-precision applications in healthcare facilities or organizations. In addition, many companies are focused on the installation of UWB. For instance, in June 2023, Nozomi Networks Lab made an announcement to analyze one of the widely used UWB-based RTLS solutions, the Ubisense Dimension4 3D tracking system. These systems are used globally in industrial sectors, including defense, manufacturing, healthcare, etc. This system is also deployed in more sensitive use cases such as hospital patient positions and movement tracking, contact tracing, and geofencing, where confidentiality, integrity, and availability of information are considered crucial. Therefore, technological advancement associated with RFID creates a huge opportunity for the market growth during the forecast period.

South & Central America Real-Time Location Systems Market Overview

The real-time location system market in South & Central America is segmented into Brazil, Argentina, and the Rest of SAM. With government support and foreign direct investments in countries in South & Central America , the region is witnessing an increase in infrastructure development. This has led to the growing construction of manufacturing facilities, commercial complexes, shopping malls, hospitals, educational institutions and universities, and government offices. For instance, in October 2022, Ardagh Glass announced its plan to construct its Brazilian glass manufacturing facility. The construction started in November 2022 and was operational by the end of 2023. Similarly, in May 2023, VINCI Airports announced that it had started working on the modernization and expansion of Boa Vista Airport in Roraima, Brazil. It will include full renovation of the runway and the doubling of the passenger terminal area by expanding the departure lounge. The construction work is expected to be completed by the end of 2024. Such construction activities require advanced technologies such as SLAM and RTLS to locate the equipment and workers on sight and ensure that everything runs smoothly.

South & Central America Real-Time Location Systems Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Real-Time Location Systems Strategic Insights

Strategic insights for the South & Central America Real-Time Location Systems provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Real-Time Location Systems Report Scope

South & Central America Real-Time Location Systems Regional Insights

The geographic scope of the South & Central America Real-Time Location Systems refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Real-Time Location Systems Market Segmentation

The South & Central America real-time location systems market is categorized into offering, technology, industry vertical, application, and country.

By offerings, the South & Central America real-time location systems market is divided into hardware, software, and services. The hardware segment held the largest share of the South & Central America real-time location systems market share in 2023.

In terms of technology, the South & Central America real-time location systems market is segmented into RFID, UWB, BLE, ultrasound, infrared, GPS, Wi-Fi, and ZIGBEE. The BLE segment held the largest share of the South & Central America real-time location systems market share in 2023.

Based on industry vertical, the South & Central America 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 the largest share of the South & Central America real-time location systems market share in 2023.

By application, the South & Central America 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 the largest share of the South & Central America real-time location systems market share in 2023.

Based on country, the South & Central America real-time location systems market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil segment held the largest share of South & Central America real-time location systems market in 2023.

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 are among the leading companies operating in the South & Central America real-time location systems market.