The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The Business Research Company’s Real Time Location Systems In Transportation And Logistics Global Market Report 2024 offers crucial insights into the real time location systems in transportation and logistics market help businesses analyse and build stronger strategies.

 

The real-time location systems (RTLS) market in transportation and logistics has seen significant growth, moving from $5.30 billion in 2023 to an expected $5.99 billion in 2024, reflecting a compound annual growth rate (CAGR) of 13.03%.

 

Key Drivers of Recent Growth

Increasing Demand for Supply Chain Visibility

• Enhanced visibility allows companies to monitor and manage their supply chains more effectively, reducing delays and improving efficiency.

Growing Need for Efficient Fleet Management

• Real-time tracking systems help optimize fleet operations, ensuring timely deliveries and reducing operational costs.

Regulatory Requirements

• Compliance with regulatory standards necessitates the adoption of advanced tracking and monitoring systems.

Rising Adoption of the Internet of Things (IoT)

• IoT integration enables seamless communication between devices, enhancing the functionality of RTLS in logistics.

Future Market Projections

The RTLS market in transportation and logistics is poised for rapid expansion, with expectations to reach $9.88 billion by 2028 at a CAGR of 13.3%.

 

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Expansion of E-Commerce

• The booming e-commerce sector demands efficient logistics solutions to handle increased order volumes and customer expectations for fast delivery.

Integration of AI and Machine Learning

• AI and machine learning enhance predictive analytics and decision-making, improving the efficiency of logistics operations.

Embrace of Autonomous Vehicles

• Autonomous vehicles rely heavily on RTLS for navigation and operation, driving demand for advanced location systems.

Shift Towards Green Logistics

• Sustainable logistics practices, supported by RTLS, help reduce environmental impact through optimized routing and resource management.

Rise in Global Trade

• Increased global trade necessitates robust logistics systems to manage the complex flow of goods across borders.

Major Trends Shaping the Future

Increased Use of Blockchain for Secure Tracking

• Blockchain technology ensures secure and transparent tracking of goods, reducing the risk of fraud and errors.

Emergence of 5G Technology

• 5G enables faster data transmission, enhancing the real-time capabilities of location tracking systems.

Adoption of Edge Computing for Real-Time Analytics

• Edge computing processes data closer to the source, enabling faster analytics and decision-making.

Implementation of Augmented Reality for Enhanced Navigation

• Augmented reality can assist logistics personnel with real-time navigation and information overlays, improving efficiency.

Growth of Predictive Analytics for Proactive Decision-Making

• Predictive analytics help anticipate issues and optimize operations, reducing downtime and improving overall efficiency.

Manufacturing Automation Boosts Logistics Tracking Demand

Adoption of Automation in Manufacturing

• Automation technologies in manufacturing drive the need for advanced logistics tracking to synchronize production with supply chain operations.

Increased Efficiency and Productivity

• Automation enhances productivity and consistency, creating synergy with RTLS to meet the demands of modern manufacturing processes.

Example of Automation Impact

• In 2023, the International Federation of Robotics reported a 5% increase in industrial robot installations, highlighting the growing trend towards automation.

 

Notable Industry Players

Leading Companies in RTLS

• Zebra Technologies Corporation
• Trimble Transportation
• Samsung Networks
• Geotab Inc.
• Samsara
• Omnitracs LLC
• Transporeon GmbH
• Descartes Systems Group
• Verizon Connect
• Lojack Corporation

 

Technological Advancements and Strategic Moves

Impinj Launches Advanced RFID Reader Chips

• In June 2021, Impinj launched the E710, E510, and E310 reader chips, enhancing connectivity and performance for IoT devices in various sectors.

Paragon ID Acquires Tracktio

• In July 2022, Paragon ID acquired Tracktio to enhance its real-time tracking and geolocation capabilities, aiming to create a comprehensive geolocation platform.

 

Market Segmentation

By Type

• Systems
• Tags

By Deployment

• On-Premises
• Cloud-Based

By Application

• Asset and Inventory Tracking
• Personnel Tracking
• Fleet Management
• Other Applications

By End-User

• Logistics and Transportation Companies
• Retailers
• Manufacturing Companies
• Other End Users

 

Regional Insights

North America Leads the Market

• North America was the largest region in the RTLS market for transportation and logistics in 2023, driven by technological innovation and robust infrastructure.

In conclusion, the real-time location systems market in transportation and logistics is on a robust growth trajectory, fueled by technological advancements, increasing demand for efficient logistics solutions, and the expanding e-commerce sector. As the market evolves, innovations in AI, blockchain, and 5G technology will further enhance the capabilities and applications of RTLS, driving continued growth and efficiency in the logistics industry.

 

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The Real Time Location Systems In Transportation And Logistics Global Market Report 2024  provides a comprehensive outlook of the real time location systems in transportation and logistics market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The real time location systems in transportation and logistics market forecast offers a thorough analysis on real time location systems in transportation and logistics market size, real time location systems in transportation and logistics market share, prominent players and their strategies.

 

The Table Of Content For The Real Time Location Systems In Transportation And Logistics Market Include:
1. Real Time Location Systems In Transportation And Logistics Market Executive Summary
2. Real Time Location Systems In Transportation And Logistics Market Segments
3. Real Time Location Systems In Transportation And Logistics Market Size And Real Time Location Systems In Transportation And Logistics Market Growth Rate
4. Key Real Time Location Systems In Transportation And Logistics Market Trends
5. Major Real Time Location Systems In Transportation And Logistics Market Drivers
……
25. Key Mergers And Acquisitions In The Real Time Location Systems In Transportation And Logistics Market
26. Top Real Time Location Systems In Transportation And Logistics Companies
27. Real Time Location Systems In Transportation And Logistics Market Opportunities And Strategies
28. Real Time Location Systems In Transportation And Logistics Market, Conclusions And Recommendations
29. Appendix

 

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