Azitek has been recognized as a key player in the indoor location market for the second consecutive year, as a top key player in the MarketsandMarkets report. The indoor location market is experiencing rapid growth, projected to expand from $10.9 billion in 2023 to $29.8 billion by 2028, driven by a Compound Annual Growth Rate (CAGR) of 22.3%. This surge is fueled by the increasing need for precision tracking and management of assets within complex industrial environments.

As we celebrate this recognition, we also take this opportunity to reflect on our strategic position in the market and how our growth aligns with the expanding demand for returnable transport items (RTI's) and material handling equipment, such as tugger trains and forklifts.

Growing Together with the RTI's and Tugger Train Markets

As industries increasingly adopt reusable packaging and update logistics through automated tracking solutions, the market for Returnable Transport Items (RTIs) is witnessing robust growth. According to Future Market Insights, the RTI's market is expected to continue expanding due to the growing emphasis on sustainability and cost efficiency. Azitek's technology is specifically designed to address the challenges associated with RTIs, such as visibility issues and the high rate of loss, which traditionally stands at around 15% annually. By offering real-time monitoring and advanced analytics, our solutions not only improve operational efficiency but also significantly reduce asset loss, providing a strong return on investment for our clients.

According to a recent market report by Business Research Insights, the tugger train market is expected to experience significant growth as industries increasingly adopt these systems for efficient internal logistics. Azitek's material handling vehicle monitoring solution is specifically tailored to meet the demands of this expanding market. Our system offers adaptability, allowing for real-time tracking and management of tugger trains. Additionally, our solution provides detailed analytics on vehicle usage and milk run routes, enabling companies to identify and eliminate inefficiencies, optimizing their internal logistics processes.

Aligning with Market Growth and Future Needs

The indoor location market, the RTI's sector, and the material handling equipment market are all experiencing robust growth, driven by technological advancements and the increasing need for efficient, sustainable logistics solutions. Azitek's technology is positioned to maximize on these trends, which means that our solutions are not only tailored to address the current challenges faced by these industries but are also designed to adapt and scale with future needs. As we continue to grow alongside these expanding industries, we remain committed to delivering technologies that improve efficiency, sustainability, and safety in manufacturing and logistics operations.

Filipe Silva, Business Developer
Aug 2024