South & Central America Real-Time Location Systems Market Forecast to 2030 - Regional Analysis - by Offering (Hardware, Software, and Services), Technology (RFID, UWB, BLE, Ultrasound, Infrared, GPS, Wi-Fi, and ZIGBEE), Industry Vertical (Retail, Governme

South & Central America Real-Time Location Systems Market Forecast to 2030 - Regional Analysis - by Offering (Hardware, Software, and Services), Technology (RFID, UWB, BLE, Ultrasound, Infrared, GPS, Wi-Fi, and ZIGBEE), Industry Vertical (Retail, Government and Defense, Manufacturing, Healthcare, Logistics, Heavy Industries, Construction, Oil and Gas, Automotive, 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)

The South & Central America real-time location systems market was valued at US$ 240.28 million in 2022 and is expected to reach US$ 1,780.62 million by 2030; it is estimated to record a CAGR of 28.4% from 2022 to 2030 .

Emergence of 5G Fuels South & Central America Real-Time Location Systems Market

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. According to Groupe Speciale Mobile Association (GSMA), 5G penetration across the world is expected to reach 54% by 2030 from 17% in 2022. 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 real-time location systems market during the forecast period.

South & Central America Real-Time Location Systems Market Overview

The real-time location system market in SAM is segmented into Brazil, Argentina, and the Rest of SAM. With government support and foreign direct investments in countries in SAM, 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 was set to start in November 2022, and the facility is expected to be operational by the end of 2023. Similarly, in May 2023, VINCI Airports announced that it had started working on 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 in the second half of 2024. Such construction activities need real-time location system to locate the equipment and workers on sight, which help ensure everything runs smoothly. These developments are anticipated to flourish the growth of the real-time location system market in the coming years.

The automotive sector in the region is witnessing strong growth. It is seen that various global automobile players are expanding their manufacturing facilities in the region. For instance, in February 2022, Chinese automaker Chery announced its plan to produce battery electric vehicles (BEV) in Argentina, with a production target of 50,000 units annually. In addition, the region houses the manufacturing facilities of several automotive players, such as Fiat, General Motors, Honda, Volkswagen, Renault, and Peugeot. Thus, the growing automotive industry in the region is expected to fuel the demand for real-time location systems as they help improve inventory management, tool and equipment tracking, damage detection, and many more. Hence, the growth of construction and automotive industries is further expected to fuel the growth of the real-time location system market during the forecast period.

South & Central America Real-Time Location Systems Market Revenue and Forecast to 2030 (US$ Million)

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.

Based on offering, the South & Central America real-time location systems market is categorized into hardware, software, and services. The hardware segment held the largest market share in 2022.

By 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 market share in 2022.

In terms of industry vertical, the South & Central America real-time location systems market is categorized into retail, government and defense, manufacturing, healthcare, logistics, heavy industries, construction, oil and gas, automotive, and others. The healthcare segment held the largest market share in 2022.

In terms of application, the South & Central America real-time location systems market is segmented into personnel/staff locating and monitoring, environmental monitoring, access control and security, warehouse management and monitoring, supply chain management and operational automation/visibility, and others. The supply chain management and operational automation/visibility management segment held the largest market share in 2022.

By country, the South & Central America real-time location systems market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America real-time location systems market share in 2022.

Aruba Networks, Qorvo Inc, Impinj Inc, Siemens AG, Zebra Technologies Corp, and Stanley Black & Decker Inc are some of the leading companies operating in the South & Central America real-time location systems market.

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