New York, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Indoor Location Market Size, Share and Industry Analysis to 2027 - Global Analysis and Forecasts by Deployment Type (On-Premise and On-Cloud); by Technology (Tags, Nodes, Ultra-Wideband, Bluetooth, Wi-Fi, Visible Light Communication and Radiofrequency Identification); 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) and Verticals (Hospitality, Retail, Transportation & Logistics, Entertainment, Public Buildings, Manufacturing and Others); and Geography”, the global indoor location market size was valued at USD 3.49 billion in 2018 and is projected to reach USD 24.60 billion by 2027; it is expected to grow at a CAGR of 25.3% during 2019–2027.
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Global Indoor Location Market Report Scope:
| Market Size Value in | USD 3.49 Billion in 2018 |
| Market Size Value by | USD 24.60 Billion by 2027 |
| Growth rate | CAGR of 25.3% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
| No. of Pages | 175 |
| No. of Tables | 28 |
| No. of Charts & Figures | 101 |
| Historical data available | Yes |
| Segments covered | Deployment Type; Technology; Components; Application; Verticals and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Indoor Location Market: Competitive Landscape and Key Developments
Cisco Systems Inc., IndoorAtlas Ltd., Qualcomm Technologies Inc., Senion, and Zebra Technologies Corporation are among the leading players profiled in the indoor location market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments under indoor location market are mentioned below:
In 2015: Senion lab launched its indoor positioning system Stepinside, which provides location reading in longitude, latitude and floor level time. The SDK application relies on advanced sensors and works with smartphones.
In 2018: Cisco announced acquisition of July Systems a mobile application platform provider. The acquisition is expected to help Cisco to enhance its enterprise Wi-Fi platform to enable better indoor location services capabilities.
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Global Indoor Location Market Drivers:
Increasing Organizations RTLS Deployments to Provide Lucrative Opportunities For Indoor Location Growth During 2019-2027:
Despite of emerging 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 later analyzing and designing the business case for large-scale deployments. Year 2019 onwards the market is anticipated to witness rollout for the large-scale deployment of these indoor location services across numerous industry verticals. Sophistication of the connectivity and sensing technology in devices, advent of open ecosystem enabling the organizations to build more flexible business models and wide availability of the low-cost sensors and tags are some of the factors that would contribute to the growth in coming years. Logistics & transportation, manufacturing, and smart building are some of the prominent sector projected to experience this growth. Thus, increasing deployment of RTLS amongst organizations will provide lucrative opportunities for indoor location market growth during forecast period.
Growing Popularity of Location Enabled Services:
The implementation of indoor location system has recently witnessed a significant adoption in diverse verticals ranging from manufacturing to logistics to security to sports. The growth in adoption of indoor location system is attributed to several factors such as widespread availability of low-cost sensors and tags, the sophistication of the sensing and connectivity capabilities in devices that do not impact battery life, and the introduction of open ecosystems that allow organizations to construct more flexible business models without locking them into hardware or software.
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Global Indoor Location Market: Industry Overview
The indoor location market has been segmented on the basis of deployment type, technology, components, application, verticals and geography. Based on deployment type, the indoor location market is bifurcated into on-premise and on-cloud. In terms of technology, the indoor location market is bifurcated into tags, nodes, ultra-wideband, bluetooth, Wi-Fi, visible light communication and radiofrequency identification. Based on components, the indoor location market is segmented into hardware, software and services. Based on application, the indoor location 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 verticals, the indoor location market is segmented into hospitality, retail, transportation & logistics, entertainment, public buildings, manufacturing and others. Based on geography, the indoor location market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The indoor location market in Europe is projected to witness impressive growth during 2019–2027:
The retail companies in European countries have become far more advanced in facilitating its customers with coherent point-of-sales experiences. This is majorly attributed towards the consistent application of innovative ideas in the European retail industry, which has promoted the sales and attracted novel customers in inventive and pioneering new ways, resulting in robust growth of retail sector in Europe. Moreover, the EU comprises of several major manufacturing industries such as aerospace, machinery & equipment, automotive, shipbuilding, military vehicles, and others. Furthermore, the European region is witnessing rise in construction of interconnected being such as shopping centers, airports, underground/metro stations, and office buildings. Thus, it is becoming essential to deploy a solution which helps in tracking indoor location. To be dependent on GPS systems outdoors results in inconvenience to navigate indoors without the assistance of technology. Thus, all the mentioned factors plays a major role in boosting the business activities of the indoor location market in the European region.
The US is a developed country in terms of modern technology, standard of living, infrastructure, and many others. Across North America, the technological advancements have led to highly competitive markets. North America is one of the fastest growing regions in terms of technological development. In the past five years, the region witnessed the significant adoption of technologies, which has resulted in rising adoption of disruptive technologies among various sectors. Further, the retail market in North America is undergoing a massive transformation under the influence of internet and accessibility to various devices such as tablets, laptops and smart phones. This has positively influenced the market growth for indoor location. Further, Canada is also witnessing a growth in its e-commerce sector. Attributed to the country’s strong economy and proximity to the U.S., retailers seek to tap into the growing Canadian e-commerce market. Also, the e-commerce industry of Mexico is also blooming. This has resulted in increased number of warehouses thus, influencing the market for indoor location All these mentioned factors were contributing to the indoor location market growth in North America region.
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