The growing need for accurate, reliable, real-time asset tracking in industrial environments is driving double-digit growth in this relatively young market. Industry trends such as increased automation, digitalization, Industry 4.0, and the Industrial Internet of Things (IoT) further exacerbate this need.
(PRUnderground) August 29th, 2019
Recent ARC Advisory Group market research on real-time location systems (RTLS) reveals that a growing need for accurate, reliable, real-time asset tracking in industrial environments is driving double-digit growth in this relatively young market. Industry trends such as increased automation, digitalization, Industry 4.0, and the Industrial Internet of Things (IoT) further exacerbate this need.
“While many users are finding that their current location tracking solutions aren’t quite up to today’s challenges and use cases, increasing competition in the marketplace drives suppliers to offer innovative new real-time location tracking solutions. These includes platforms that both insulate users from technology change and allow them to better manage a mix of technologies,” according to Naresh K. Surepelly, Senior Analyst at ARC Advisory Group and key author of ARC’s Real-time Location Systems Global Market Research report.
End users are utilizing previously stranded asset data from new tags built with low-cost and internet-connected sensors mounted directly on mobile equipment and machines. In conjunction, advanced analytics software can help detect, identify, and avoid performance degradation or asset failures. The ARC research indicates that users employing this technology realize improved asset utilization and availability, improved safety, reduced MRO spend, improved return on assets, and improved operational performance.
About the Real-time Location Systems Market Research
This ARC research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the real-time location systems market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts by RTLS technologies, hardware, revenue category, industry, and applications.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) – personalized spreadsheet includes the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, go to www.arcweb.com/market-studies.
About ARC Advisory Group
Founded in 1986, ARC Advisory Group is the leading technology research and advisory firm for industry, infrastructure, and cities. ARC stands apart due to our in-depth coverage of both operational technologies (OT) and engineering technologies (ET) and associated business trends. Our analysts and consultants have the industry knowledge and the first-hand experience to help our clients find the best answers to the complex business issues facing organizations today. We provide our technology supplier clients with strategic market research, and help our end user clients develop appropriate adoption strategies and select the best technology solutions for their needs.Press Contact
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