The Global Indoor Location Market Size was valued at USD 8.15 Billion in 2022 and the Worldwide Indoor Location Market Size is expected to reach USD 52.88 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Apple, Cisco, HPE, Acuity Brands, Zebra Technologies, HID Global, InnerSpace, Syook, Google, Oriient, STANLEY Healthcare, Esri, Kontakt.io, Inpixon, AiRISTA, Ubisense, Azitek, infsoft, HERE, InnerSpace, Polaris Wireless and among others.
New York, United States , June 28, 2023 (GLOBE NEWSWIRE) -- The Global Indoor Location Market Size is to grow from USD 8.15 billion in 2022 to USD 52.88 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 20.5% during the projected period. The rising adoption of indoor positioning systems in various applications such as indoor navigation maps, remote monitoring, tracking & tracing application, monitoring emergency management, and others in several industries including BFSI, retail, telecom, transportation & logistics, healthcare, oil & gas, mining, information technology & media, manufacturing, government, public utilities, public safety & security, and others are expected to boost the demand for the indoor location market during the forecast period.
An indoor location system, also known as an indoor positioning system, is a technology that employs radio frequencies, sound waves, electromagnetic waves, and other sensory data obtained by mobile devices to locate people or objects within an indoor structure. It is made up of hardware, software, and service components that are utilized to provide indoor location services to businesses in a variety of industries. There are several commercial systems available, but no standards exist for an indoor location system. The primary factors driving the growth of the indoor location market are governments' continued support for creating public safety, the increasing penetration of smartphones, and the inadequacy of GPS navigation systems in interior settings. Furthermore, rising smartphone use with innovative mobile applications, m-commerce, the digitization trend, and technological advancements are propelling the indoor location market forward. Furthermore, the government's acknowledgment of the importance of improved locating technology in improving urban security and public safety is raising the adoption of indoor location market solutions.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on "Global Indoor Location Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware, Solutions, Services), By Technology (BLE, UWB, Wi-Fi, RFID, Others), By Application (Indoor Navigation Maps, Remote Monitoring, Tracking & Tracing Application, Monitoring Emergency Management, Others), By End-Users (BFSI, Retail, Telecom, Transportation & Logistics, Healthcare, Oil & Gas, Mining, Information Technology & Media, Manufacturing, Government, Public Utilities, Public Safety & Security, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
The BLE segment is dominating the market with the largest revenue share over the forecast period.
On the basis of technology, the global indoor location market is segmented into the BLE, UWB, Wi-Fi, RFID, and others. Among these, the BLE segment is dominating the market with the largest revenue share of 32.6% over the forecast period. Signals from battery-powered Bluetooth Low Energy (BLE) transmitters are an important indoor locating method. BLE is one of the most recent technologies to develop and become an industry standard, which is now available on the majority of devices.
The remote monitoring segment is witnessing significant CAGR growth over the forecast period.
On the basis of application, the global indoor location market is segmented into indoor navigation maps, remote monitoring, tracking & tracing application, monitoring emergency management, and others. Among these, the remote monitoring segment is witnessing significant CAGR growth over the forecast period. Remote monitoring applications make use of a variety of technologies, including Bluetooth Low Energy, Wi-Fi, and ultrasonic wavelength band, to improve the effectiveness, user interface, and convenience of consumers.
The transportation & logistics segment accounted for the largest revenue share of more than 38.2% over the forecast period.
On the basis of end-uses, the global indoor location market is segmented into BFSI, retail, telecom, transportation & logistics, healthcare, oil & gas, mining, information technology & media, manufacturing, government, public utilities, public safety & security, and others. Among these, the transportation & logistics segment is dominating the market with the largest revenue share of 38.2% over the forecast period. This growth can be attributed to the growing need for improved transportation assistance for travelers at airports and railway stations in order to direct them to the correct route and location. The use of location analytics solutions allows the company to organize and comprehend any complex plans, allowing it to quickly acquire data and connect with customers.
North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 38.7% market share over the forecast period. The dominant position can be attributed to widespread technological deployment and the presence of significant market actors in the region. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. Companies' rise, particularly in the retail, transportation, and telecommunications industries, has resulted in an income-producing need for interior areas. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Indoor Location Market include Apple, Cisco, HPE, Acuity Brands, Zebra Technologies, HID Global, InnerSpace, Syook, Google, Oriient, STANLEY Healthcare, Esri, Kontakt.io, Inpixon, AiRISTA, Ubisense, Azitek, infsoft, HERE, InnerSpace, Polaris Wireless, and among others.
On May 2023, Pointr, a global leader in indoor positioning and mapping, is introducing one of the world's largest single-site indoor location systems at Abu Dhabi's famed Reem Mall. Pointr, in collaboration with partner Dimension Data, helped achieve Reem Mall's aim for a cutting-edge indoor location experience within their guest app by covering all public sections of the mall, a total of 2.3 million square feet.
On February 2023, KINEXON, a pioneering and innovative provider of automation solutions and location services, has been named a Visionary in Gartner's Magic Quadrant for Indoor Location Services. The assessment was based on particular criteria that assessed the company's overall vision completeness and ability to execute. KINEXON is making its maiden appearance on the Magic Quadrant.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Indoor Location Market based on the below-mentioned segments:
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