The real-time systems market size was valued at $3.93 billion in 2020 and is projected to reach $39.12 billion by 2030, registering a CAGR of 25.7%. The global market is influenced by several factors such as the rise in the need for asset tracking, the proliferation of smartphones, the increase in the adoption of business analytics, and driverse utility across applications.

The Real-Time Locating Systems (RTLS) Market was expected to register a CAGR of 25.1% during the forecasted period. According to Cisco, 500 billion devices are expected to be connected to the Internet by 2030. With the increasing trend of IoT and wearable devices, organizations can quickly get more things done, boosting productivity and delivering insight for better user experiences and engagement.

Looking back, we can safely say 2021 was a banner year for location technology. Many companies started discovering and testing the benefits of knowing where assets are located, analyzing how they move in their environment, and learning how different items (even people) interact with each other daily. Even Apple launched a product for searching and finding items, the AirTag.