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National & World Ag News Headlines |
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Reduced Cost of RFID Tags to Boost Growth
USAgNet - 07/14/2020
Technavio has been monitoring the real-time location systems (RTLS) market and it is poised to grow by $19.03 billion during 2020-24, progressing at a CAGR of 47% during the forecast period. The report offers an up-to-date analysis regarding the current
market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AiRISTA Flow Inc., General Electric Co., Halma Plc, HP Inc., Link Labs Inc., Sewio Networks Sro, Sonitor IPS Holding AS, Stanley Black & Decker Inc.,
Ubisense Ltd., and Zebra Technologies Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the
slow-growing segments.
The reduced cost of RFID tags has been instrumental in driving the growth of the market. However, high implementation costs might hamper market growth.
Real-Time Location Systems (RTLS) Market 2020-2024 : Scope
Technavio presents a detailed picture of the real-time location systems (RTlS0 market by the way of study, synthesis, and summation of data from multiple sources. Our real-time location systems (RTLS) market report covers the following areas:
This study identifies the rising demand for RTLS in transportation and logistics as one of the prime reasons driving the real-time location systems (RTLS) market growth during the next few years.
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