The Indoor Location Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
The Global Indoor Location Market has reached USD 14.2 Billion in 2019 and projected to reach USD 171 Billion by 2026 with a significant CAGR of 42.72% during the forecast period 2020-2026. The consistent support to governments for ensuring public safety, increased penetration of smartphones, and insufficiency of GPS technology in indoor locations, etc. are some of the major factors that contributes the growth of indoor location market.
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Moreover, trend of digitalization, innovative mobile applications, mobile commerce, and advancements in technology are driving the growth of the indoor location market. Logistics & transportation, manufacturing, and smart building are some of the significant sector projected to experience this growth.
Global Indoor Location Market: Overview
An indoor location is a system used to locate people or objects inside a building with the help of radio waves, acoustic signals, magnetic fields, and other sensory information which are collected through mobile devices. Indoor location is a tracking of any object which is present in indoor and also known as indoor localization. Indoor positioning system advanced technology is used for tracing objects which can locate objects or humans situated in a company with the help of radio waves or acoustic signals collected by handheld devices including mobile phones, and other devices.
Growth Drivers
Increasing scope of application for indoor location drives the market growth
Despite of rising instances of the large scale indoor location system majority of the enterprises up till now have been testing these systems on a smaller scale, subsequently capturing the successes and then analyzing and designing the business case for large-scale deployments. The indoor location market is anticipated to witness rollout for the large scale deployment of these indoor location services among several industry verticals. Sophistication of the connectivity and sensing technology in devices, introduction of open ecosystem allowing the organizations to build more flexible business models and varied availability of the low-cost sensors and tags are some of the factors that would drive the growth in coming years.
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Increase in number of internet connected devices
Through development in positioning technologies the location positioning and navigation capabilities has enhanced significantly in the past decade. Further, the rising popularity of location based services especially for smartphones has gained considerable momentum in the past few years. As a result, the leading retailers and luxury retail brands are progressively focusing on utilizing of marketing strategies towards their loyal customers through implementation of indoor location services for providing more exclusive offers. Subsequently, the retail industry is expected to be one of the major market driving forces for indoor location market in the future.
Restraints
Higher cost of indoor location platform and lack of technical expertise restrict the growth of the market
The high cost of installing indoor location as well as the complex deployment and maintenance restrict the growth of the market. Also, there is lack of technical expertise which creates intricacies in the implementation of such technology. These factors hampers the growth of indoor location market.
Global Indoor Location Market: Component
Based on Component, global Indoor Location Market is segmented into Technology, Software Tools and Services. The services segment is the fastest growing segment in the indoor location market. Services in the market play a crucial role in the efficient and effective performance of the network infrastructure. The Indoor Location software allows easy and efficient implementation of the Electronic Discovery Reference Model (EDRM) model that includes identification, preservation, collection, review, processing, production, and presentation of the significant data during legal cases leading to reduced costs, time, and manual intervention.
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Global Indoor Location Market: Deployment Mode
Based on Deployment Mode, global Indoor Location Market is bifurcated into Cloud, On-Premise. The adoption of cloud-based solutions on indoor location market is expected to grow, mainly due to their benefits such as easy trade data maintenance, cost-effectiveness, scalability, and effective management. In addition advantages such as increased storage, scalability, flexibility, security, portability, and compliance contributing with lucrative growth rate. Especially, SMEs are adopting the cloud deployment type largely, due to its cost-effectiveness and advanced results.
Global Indoor Location Market: Vertical
On the basis of Vertical, the global Indoor Location market is classified into Retail, Transportation, Entertainment, Hospitality, Public Buildings, Others. The retail segment is expected to dominate the market during the forecast period owing to numerous benefits such as improved customer searches, effective route planning, and optimized customer targeting.
Global Indoor Location Market: Regional Insights
Geographically, the global Indoor Location market is segmented into North America, Europe, Asia-Pacific, Latin America & Middle East & Africa. The Asia Pacific is expected to grow at a faster rate during the forecast period due to the rise in penetration of indoor location based services, connected devices, and real-time location system specially among the market in India and China.
Global Indoor Location Market: Competitive Landscape
The major market players in the Indoor Location market are Apple, Broadcom, Cisco Systems, Ericsson, Geomoby, Google, Micello, Microsoft, Qualcomm Technologies, Senion, Stmicroelectronics, Zebra Technologies, HERE, Glopos Technologies, IndoorAtlas Ltd., Navizon Inc, AeroScout Industrial, Hewlett Packard Enterprise Development LP, Sensewhere, and Other Prominent Players. These vendors have adopted various startegies to expand their offerings in the market.
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Global Indoor Location Market: Recent Developments
In February 2019, ZEBRA TECHNOLOGIES declared that they had completed acquisition of Temptime Corporation, it is a privately-held developer and manufacturer of temperature monitoring solutions for mission-critical applications in the healthcare industry.
In January 2018, Here Technologies publicized to acquire Micello. This acquisition support HERE’s strategy to offer world-class mapping and advanced location services both indoors as well as outdoors. In combination with HERE’s unique tracking technologies, indoor maps will enable new and innovative market solutions such as the tracking of parts on a factory floor.
By Component
Technology
Software Tools
Services
By Deployment Mode
Cloud
On-Premise
By Vertical
Retail
Transportation
Entertainment
Hospitality
Public Buildings
Others
By Application
Sales and Marketing Optimization
Customer Experience Management
Remote Monitoring
Inventory Management
Predictive Asset Analytics
Risk Management
Emergency Response Management
Others
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By Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The objective of the Study:
To analyze and forecast the global Indoor Location Market size of the market in terms of value.
To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
The Global Indoor Location Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America and Middle East & Africa coupled with their leading countries.
To outline, categorized, and forecast the global Indoor Location Market based on the Component, Deployment Mode, Vertical, Application, coupled with the region.
To examine competitive developments like technological advancement, services, and regulative framework within the global Indoor Location Market.
To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Table of Content
Chapter 1: Global Indoor Location Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Indoor Location market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Indoor Location Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Indoor Location market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Indoor Location market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Indoor Location market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Indoor Location market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Indoor Location business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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