Dublin, July 12, 2023 (GLOBE NEWSWIRE) -- The "Global Indoor Location Market by Component (Hardware, Solutions, and Services), Technology (BLE, UWB, Wi-Fi, RFID), Application (Emergency Response Management, Remote Monitoring, Predictive Asset Maintenance), Vertical and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Indoor location market is estimated at USD 10.9 billion in 2023 and is projected to reach USD 29.8 billion by 2028, at a CAGR of 22.3% from 2023 to 2028
This study covers various segments, including offerings, application, technology, vertical, and region, aiming to estimate market size and growth potential. It also provides in-depth competitive analysis, company profiles, recent developments, and market strategies of leading players.
With valuable insights into revenue numbers, competitive landscape, and market dynamics, this report equips market leaders and newcomers to enhance their positioning and formulate effective go-to-market strategies.
Various key players in the ecosystem have led to a competitive and diverse market. Government initiatives to establish smart cities are expected to drive the adoption of the Indoor location market in the future.
By solutions, the indoor tracking segment to hold the largest market size during the forecast period.
Indoor tracking solutions are designed to accurately track and monitor the movement of objects or individuals within indoor environments. These solutions utilize various technologies like Wi-Fi, Bluetooth, RFID, ultrasonic waves, or infrared signals to establish location information.
Indoor tracking is one of the most helpful features of a smart environment or smart building and requires technologies that can work together with an IoT platform. IndoorAtlas Asset Tracker allows the tracking of any devices that can scan their surrounding Wi-Fi and/or BLE beacon environment.
Spreo has offered an employee engagement app with indoor tracking and mapping intelligence for the headquarters of a known multinational IT corporation to help employees reserve and find over 1,000 meeting rooms across the entire campus.
Based on vertical, the transportation and logistics segment are expected to register the fastest growth rate during the forecast period
The transportation & logistics vertical consists of areas that include airports, railway stations, bus stations, and subways that are in need of indoor location solutions for better route optimization and increased customer experience. Indoor location technology in automobiles allows companies to increase capital returns and drive customer loyalty.
They also help understand customer behavior and offer valuable information that could assist in building enhanced advertising campaigns, optimizing services, and selecting the right locations. The adoption of indoor location solutions allows the transportation vertical to manage inventory effectively, save costs on audits, and track missing equipment.
Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific comprises nations with rapid technological development, such as China, Japan, and India. Asia Pacific is home to several developing countries that are experiencing rapid urbanization.
Several factors contributing to growth of indoor location in this region, include the region's large population, rapid urbanization, increasing adoption of smartphones, and the demand for enhanced indoor navigation and location-based services. This offers enormous business opportunities for Indoor location vendors, even while presenting grave challenges for sustainable development.
The widespread use of smartphones in Asia Pacific has created opportunities for indoor location-based mobile applications and services. Companies are developing mobile apps that leverage indoor positioning to offer services like indoor navigation, proximity-based promotions, and location-based recommendations.
The major players in the Indoor location market are adopting various growth strategies, such as partnerships, agreements and collaborations, new product launches, and product enhancements, and acquisitions to expand their footprint in the Indoor location market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 279 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $10.9 Billion |
| Forecasted Market Value (USD) by 2028 | $29.8 Billion |
| Compound Annual Growth Rate | 22.3% |
| Regions Covered | Global |
Premium Insights
- Proliferation of Smartphones and Location-Based Apps and Inefficiency of Gps Technology to Drive Market
- Hardware Segment and Sales & Marketing Optimization Application to Account for Largest Shares in 2023
- Hardware Segment and China to Account for Largest Shares in 2023
Market Dynamics
Drivers
- Proliferation of Smartphones, Connected Devices, and Location-Based Applications
- Advancement and Effectiveness of Indoor Positioning with Slam
- Increased Number of Applications Powered by Beacons and Ble Tags
- Growing Integration of Beacons in Cameras, Led Lighting, Pos Devices, and Digital Signage
- Inefficiency of Gps in Indoor Environments
Restraints
- Concerns Related to Data Security and Privacy
- Negative Feedback from End-users
- Stringent Government Regulations
- High Installation and Maintenance Costs
Opportunities
- Increasing Demand for Rfid Tags Across Retail Industry
- Growing Use of 5G for Location-Based Services
- Growing Demand for Indoor Location Technologies to Support Lean Automation and Robotic Processes
- Focus on Industry 4.0 Smart Cities and Smart Manufacturing
Challenges
- Lack of Skills and Awareness Related to Indoor Location Technologies
- Dearth of Uniform Standards and Interoperability Coupled with System Incompatibility
Case Study Analysis
- Las Vegas Convention Center Helped Visitors Find Their Way with Indoor Google Maps
- Osram Malaysia Deployed Blueiot Rtls to Track Assets Accurately and Protect Them
- Kesko Increased Average Check by 6% Using Indoor Navigation by Navigine
- Ericsson Collaborated with Senion to Enhance Workplace Employee Performance
- Tpf Adopted Ubisense Rtls Solution for Efficient Business Operations
- Toshin Industry Co. Ltd Improved Its Production Quality by Deploying New Plating Methods from Quuppa
Company Profiles
Major Players
- Zebra Technologies
- Cisco
- Microsoft
- Hpe
- Apple
- Esri
- Acuity Brands
- Inpixon
- Here Technologies
Other Players
- Hid Global
- Centrak
- Sonitor Technologies
- Ubisense
- Infsoft
- Polaris Wireless
- Quuppa
- Securitas Healthcare
- Navigine
Smes/Startups
- Blueiot
- Kontakt.Io
- Airista
- Innerspace
- Syook
- Oriient
- Navenio
- Situm
- Pozyx
- Azitek
- Mapxus
Industry Trends
Value Chain Analysis
- Brief History of Indoor Location Solutions
- 2000-2009
- 2010-2019
- 2020-Present
Ecosystem/Market Map
- Indoor Location Tools, Frameworks, and Techniques
- Business Model
- Architecture
- Magnetic Field Approach
- Fingerprinting
- Smartphone Data
Indoor Location Impact on Adjacent Niche Technologies
- Internet of Things (Iot)
- Augmented Reality (Ar) and Virtual Reality (Vr)
- Mobile Applications and App Development
- Indoor Mapping and Geographic Information Systems (Gis)
- Asset Tracking and Inventory Management
- Smart Buildings and Facilities Management
- Data Analytics and Business Intelligence
Technology Analysis
Adjacent Technologies
- Iot
- Ml
- Blockchain
- 5G
Related Technologies
- Wi-Fi-Based Positioning
- Ble Beacons
- Inertial Measurement Units (Imus)
- Indoor Mapping and 3D Modeling
Future of Indoor Location Market Landscape
Trends/Disruptions Impacting Customer Business
For more information about this report visit https://www.researchandmarkets.com/r/o1shm1
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
