Tomorrow’s production facilities will benefit from streams of information. Data will be fed to artificial intelligence driven self-organizing processes, allowing flexible operations with optimized flows of materials and equipments. This new era of production will need precise location data to reduce search time, misplacement, and idle time of your machines while improving operational efficiency and labor productivity.

Forecast

The real-time location system (RTLS) market was valued at USD 2.41 billion in 2017 and is expected to reach USD 8.79 billion by 2023, at a CAGR of 22.5%. According to Frost & Sullivan, only hospitals misplace or lose 10-20% of an estimated $750 million of their valuable medical equipment annually, wasting staff and patient’s time and incurring costly replacement charges.