Global Indoor Location Market 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, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, And Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-2026
- Published Date: April 2020
- Report ID: BWC20024
- Available Format: PDF
- Page: 171
Global Indoor Location Market Forecast and Trends
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 contribute the growth of the indoor location market.
Moreover, the trend of digitalization, innovative mobile applications, mobile commerce, and advancements in technology drives the growth of the indoor location market. Logistics & transportation, manufacturing, and smart building are significant sectors 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 radio waves, acoustic signals, magnetic fields, and other sensory information collected through mobile devices. Indoor location is a tracking of any object present in indoor and is known as indoor localization. Indoor positioning system advanced technology is used to track objects that can locate items or humans situated in a company with radio waves or acoustic signals collected by handheld devices, including mobile phones and other devices.
The increasing scope of application for indoor location drives the market growth
Even though rising instances of the large scale indoor location system, most enterprises 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 the rollout for the large scale deployment of these indoor location services among several industry verticals. The sophistication of the connectivity and sensing technology in devices, the introduction of an open ecosystem allowing the organizations to build more flexible business models, and varied availability of the low-cost sensors and tags are factors that would drive growth in the coming years.
Increase in the number of internet-connected devices
Through development in positioning technologies, location positioning, and navigation capabilities have enhanced significantly in the past decade. Further, location-based services' rising popularity, 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 marketing strategies towards their loyal customers by implementing indoor location services to provide more exclusive offers. Subsequently, the retail industry is expected to be one of the major market driving forces for the future's indoor location market.
The higher cost of indoor location platform and lack of technical expertise restrict the growth of the market
The high cost of installing indoor locations and complex deployment and maintenance restricts the growth of the market. Also, there is a lack of technical expertise, which creates intricacies in implementing such technology. These factors hamper the development of the indoor location market.
Location Market: Component
Based on Component, The 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 the software allows easy and efficient implementation of the Electronic Discovery Reference Model (EDRM) model. This model includes identification, preservation, collection, review, processing, production, and presentation of the essential data during legal cases leading to reduced costs, time, and manual intervention.
Location Market: Deployment Mode
Based on Deployment Mode, the global Indoor Location Market is bifurcated into Cloud, On-Premise. The adoption of cloud-based solutions on the indoor location market is expected to grow, mainly due to their benefits such as easy trade data maintenance, cost-effectiveness, scalability, and effective management besides advantages such as increased storage, scalability, flexibility, security, portability, and compliance contributing to the lucrative growth rate. Especially, SMEs are adopting the cloud deployment type mostly, due to its cost-effectiveness and advanced results.
Location Market: Vertical
- Based on Vertical, the global Indoor The 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 especially 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, Senior, 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 strategies to expand their offerings in the market.
Global Indoor Location Market: Recent Developments
Ø In February 2019, ZEBRA TECHNOLOGIES declared that they had completed the acquisition of Temptime Corporation, it is a privately-held developer and manufacturer of temperature monitoring solutions for mission-critical applications in the healthcare industry.
Ø In January 2018, Here Technologies publicized to acquire Micello. This acquisition support HERE’s a 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.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Million/Billion
United States, Canada, Germany, United Kingdom, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, China, India, Japan, South Korea, Saudi Arabia, UAE, South Africa
By Component, By Deployment Mode, By Vertical, By Application and Region.
Apple, Broadcom, Cisco Systems, Ericsson, Geomoby, Google, Micello, Microsoft, Qualcomm Technologies, Senior, STMicroelectronics, Zebra Technologies, HERE, Glopos Technologies, IndoorAtlas Ltd., Navizon Inc, AeroScout Industrial, Hewlett Packard Enterprise Development LP, Sensewhere, and Other Prominent Players.
Ø Software Tools
By Deployment Mode
Ø Public Buildings
Ø Sales and Marketing Optimization
Ø Customer Experience Management
Ø Remote Monitoring
Ø Inventory Management
Ø Predictive Asset Analytics
Ø Risk Management
Ø Emergency Response Management
Ø North America
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and forecast the global Indoor Location Market size of the market in terms of value.
Ø To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
Ø The Global Indoor Location Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, coupled with their leading countries.
Ø To outline, categorized, and forecast the global Indoor Location Market based on the Component, Deployment Mode, Vertical, Application, coupled with the region.
Ø To examine competitive developments like technological advancement, services, and the regulative framework within the global Indoor Location Market.
Ø To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
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