The Location-based Services (LBS) and Real-Time Location Systems (RTLS) market size is projected to grow from USD 24.7 billion in 2023 to USD 60.4 billion by 2028, at a CAGR of 19.6% during the forecast period. The usage of RTLS increased across several verticals, including healthcare, industrial manufacturing, logistics, process industries (mining, oil and gas), and defense due to all these advancements. More sectors are now recognizing the benefits of tracking, monitoring, and analyzing the precise location and movements of assets. These advantages include improved workflow, simpler processes, and higher production.