Indoor Location Market To Be Dominated By Growing Popularity Of Location-Based Service Mobile Application Across The Globe
Growing
Popularity of Location Enabled Services driving the implementation of the
Indoor Location market across the globe.
According
to TechSci Research report, “Indoor Location Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028”. The global indoor
location market has witnessed substantial growth in recent years, driven by the
increasing demand for advanced navigation and positioning technologies within
indoor spaces. As smartphones and IoT devices become ubiquitous, the need for
accurate and seamless indoor location services has escalated across various
industries, including retail, healthcare, logistics, and entertainment. These
solutions offer benefits such as improved customer engagement, efficient
resource utilization, and enhanced safety protocols.
Technological
advancements, such as Bluetooth Low Energy (BLE), Wi-Fi, and Ultra-Wideband
(UWB) technologies, have significantly contributed to the expansion of the
indoor location market. These technologies enable precise indoor positioning,
asset tracking, and location-based analytics, allowing businesses to optimize
operations and create personalized user experiences. The adoption of indoor
location services is particularly notable in shopping malls, airports, and
smart buildings, where navigation and location-based services enhance visitor
satisfaction and operational efficiency.
However,
the indoor location market also faces challenges related to privacy concerns,
accuracy in complex indoor environments, and interoperability among different
systems. Addressing these issues will be crucial for sustaining the growth
momentum of the indoor location market. As the world becomes increasingly
interconnected and reliant on location-based services, the market is expected
to continue evolving, presenting new opportunities for innovation and
collaboration among technology providers, businesses, and consumers.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global
Indoor Location Market."
Based
on technology, the market is segmented into tags, nodes, ultra-wideband,
bluetooth, wi-fi, visible light communication and radiofrequency
identification. Based on deployment type, the market is segmented into
on-premises and cloud. Based on components, the market is segmented into hardware,
software, and services. Based on application, the market is segmented into
remote monitoring, customer experience management, inventory management,
emergency response management, sales and marketing optimization, risk
management, predictive asset analytics and others. Based on vertical, the
market is further split into hospitality, retail, transportation &
logistics, entertainment, public buildings, manufacturing, and others.
Based
on deployment type, the indoor location market is segmented into on-premises
and on-cloud based on deployment type. A cloud-based indoor location utilizes
enterprise cloud technology and follows a web-based software as a service
(SaaS) model. On the other hand, the on-premises type system is deployed on the
native hardware and network of the business. Over the years, the on-premises
location tracking infrastructure has declined, while the demand for cloud-based
systems continues to grow significantly. This is primarily due to the enhanced
flexibility, scalability, disaster recovery, and security offered by
cloud-based indoor location solutions. Additionally, users benefit from
automatic software updates without the need for additional capital
expenditures, which improves technological competitiveness. As a result, the
cloud-based indoor location market is expected to attract significant attention
and experience substantial growth.
Based
on component type, the indoor location market is categorized into hardware,
software, and services based on components. There are various methods of
deploying an indoor location system and a wide range of technologies available
for enterprises to choose from. However, the implementation of the indoor
system necessitates three fundamental components: hardware, software, and
services. The hardware component consists of node components, networking
devices, sensors, receivers, and transmitters. On the other hand, the software
segment encompasses APIs that support the system's functionality and provide
analytical insights. The design and implementation of indoor location systems
require managed and professional services, which also contribute to the overall
revenue of the indoor location market.
Based
on vertical, the market is further split into hospitality, retail,
transportation & logistics, entertainment, public buildings, manufacturing,
and others. The retail segment is expected to dominate the global indoor
location market. The retail industry has been an early adopter of indoor
location technologies to enhance customer experiences and drive business growth.
By leveraging indoor positioning systems, retailers can provide shoppers with
personalized promotions, navigation assistance, and product recommendations
based on their precise location within a store. This level of customization
enhances customer engagement, encourages longer dwell times, and ultimately
boosts sales. Additionally, indoor location solutions enable retailers to
gather valuable insights into customer behavior and foot traffic patterns. This
data enables retailers optimize store layouts, product placements, and
staffing, leading to improved operational efficiency and better-informed
business decisions. As a result, the retail segment stands to benefit
significantly from the integration of indoor location technologies.
The
growing trend of integrating online and offline retail experiences, often
referred to as "brick-and-click" strategies, further reinforces the
importance of indoor location solutions in the retail sector. These
technologies bridge the gap between physical and digital shopping environments,
enabling retailers to create seamless omni-channel experiences that cater to
the preferences and needs of modern consumers. While retail is poised to be a
dominant vertical in the indoor location market, other sectors such as healthcare,
hospitality, logistics, and entertainment are also expected to witness
substantial adoption of indoor location technologies, each contributing to the
overall growth and evolution of the market.
Key market
players in the global Indoor Location market include:
- HID
Global Corporation
- HERE
Global BV
- STMicroelectronics
N.V.
- Sonitor
Technologies AS
- Zebra
Technologies Corporation
- Hewlett
Packard Enterprise Development LP
- Mist
Systems Inc.
- Broadcom,
Inc.
- Cisco
Systems, Inc.
- Acuity
Brands, Inc.
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“North
America is projected to experience the highest compound annual growth rate
(CAGR) during the forecast period. The region is anticipated to hold a
significant share of the Indoor Location market due to the increasing
penetration of smartphones and the development of IoT technologies. Moreover,
North America stands as the second-largest market for tablets, smartphones, and
in-vehicle navigation systems globally. It is also a dominant player in
aerospace and maritime navigation equipment manufacturing, as well as airplane
production. The United States holds a substantial market share across various
end-user industries in North America, especially in the consumer electronics
sector. The country boasts high smartphone penetration and sales, supported by
robust infrastructure, research funding, and government initiatives aimed at
enhancing technological penetration and accuracy. Furthermore, increasing
investments in the development of various technologies and the adoption of
indoor location solutions are furthermore propelling the growth of indoor
location in the global market,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Indoor
Location Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028, Segmented By Technology (Tags, Nodes, Ultra-Wideband,
Bluetooth, Wi-Fi, Visible Light Communication and Radiofrequency
Identification), By Deployment Type (On-Premise and Cloud), By Components
(Hardware, Software and Services), By Application (Remote Monitoring, Customer
Experience Management, Inventory Management, Emergency Response Management,
Sales and Marketing Optimization, Risk Management, Predictive Asset Analytics
and Others), By Verticals (Hospitality, Retail, Transportation & Logistics,
Entertainment, Public Buildings, Manufacturing and Others), By Region,
Competition”, has
evaluated the future growth potential of Indoor Location and provides
statistics and information on market structure, size, share, and future growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global Indoor Location market.
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