Indoor Location Market

Global Indoor Location Market Size (2024 to 2029)

The global indoor location market is predicted to reach USD 9.15 billion in 2024 and USD 25.24 billion by 2029, growing at a CAGR of 22.50% during the forecast period.

With the advent of the cloud and IoT systems, businesses are now automating most of their operations. The healthcare sector should also see a larger number of applications. The growing applications of IoT, designed to meet the demands of healthcare, are believed to help the growth of market research for the healthcare industry. Indoor location is the concept that includes tracking any object or human in the indoor location. It implements indoor positioning technology to serve the purpose of tracking, using the radio waves received by the handheld device. The emergence of IPS technology is due to the poor performance of GPOS technology in indoor installations. It finds its application in public places like hospitals, airports, shopping malls, and others.

Global Indoor Location Market Drivers:

The main factors driving the growth of the global indoor locations market are continued support to governments to confirm public safety, increased use of smartphones, and insufficient GPS technology in indoor locations. In addition, the increasing use of smartphones with innovative mobile applications, mobile commerce, the trend of digitization, and technological advances are driving the growth of the indoor location market. Also, the government's awareness of having improved positioning technology for the urban safety and public safety segment is increasing the demand for indoor location solutions. In the global indoor location market, professional services are crucial as they include solutions to improve consumer awareness and growth of indoor location technology to attract customers to shopping and shipping. The indoor location services segment is experiencing a high adoption rate in the overall market due to its obligation to keep up with changing technology that can be used for advanced development in the market.

The transportation and logistics vertical is expected to advance further, with the highest CAGR during the forecast period. This growth can be attributed to the need to provide mobile support to passengers at airports and train stations to guide them to the right place to locate restaurants and stores in airports and railways. Adopting indoor location solutions helps the transportation industry understand customer behavior and provides valuable insights that could help create amplified advertising campaigns, select suitable locations, and optimize services. Additionally, selecting indoor tracking solutions enables the vertical transport industry to effectively control inventory, track missing equipment, and reduce audit costs.

The success of the logistics and transportation industry depends on complex and recurring operations and capital-intensive processes. The logistics industry faces challenges in terms of tracking the location of assets in warehouses. The requirement to track and recognize asset locations to reduce time wasted in asset location management to guide the adoption of indoor location solutions across the logistics vertical. With the support of location analysis solutions, a business can organize and interpret complex maps, allowing it to quickly obtain information and communicate with its customers effectively.

Impact of COVID-19 on the global indoor location market:

The spread of COVID-19 generates a massive disruption to daily activities never seen before, calling it "a war against an invisible enemy," forcing social distancing policies, temporarily suspending many business activities, and restricting travel. The increased adoption of spatial data science and location-based data streams becomes crucial to the impact of the coronavirus.

GLOBAL INDOOR LOCATION MARKET REPORT COVERAGE:

This research report on the global indoor location market has been segmented and sub-segmented based on the solution, application, service, industry, and region.

Global Indoor Location Market – By Solution:

• Tag-based Solution             

• RF-based Solution

 The worldwide market includes a tag-based solution, an RF-based solution, and others.

Global Indoor Location Market – By Application:

• Indoor Navigation & Maps               

• Tracking & Tracing Application        

• Monitoring & Emergency Management     

Global Indoor Location Market – By Service:

• Support and Managed Services     

• Consulting               

In addition, the main services covered during the study are support and management services, consulting, and others.

Global Indoor Location Market – By Industry:

• Government          

• BFSI            

• Oil & Gas  

• Manufacturing      

• Retail         

Additionally, the market serves industries such as BFSI, government, oil and gas, manufacturing, and retail.

Global Indoor Location Market – By Region:

• North America,

• Europe,

• Asia-Pacific

• Latin America

•  Middle East

North America is expected to see a notable share of the worldwide indoor location market due to the increasing penetration of smartphones and the growth of IoT technology in the area. The North American region is also the second-largest market for tablets, smartphones, and vehicle navigation systems, the largest aircraft manufacturer, and one of the largest manufacturers of aerospace and marine navigation products.

KEY MARKET PARTICIPANTS:

The major companies operating in the global indoor location market include Apple Inc. (US), Telefonaktiebolaget LM Ericsson (Europe), Google Inc. (US), Microsoft (US), Broadcom (US), Gbrmpa, HERE, Qualcomm Technologies, Inc. (US), Senion (Europe), Zebra Technologies Corp., STMicroelectronics (Switzerland), and AeroScout Industrial.

RECENT HAPPENINGS IN THE MARKET:

• In April 2020, Inpixon announced that it had signed with Unified Systems Inc. as an authorized reseller. Unified Systems Inc. is a company that specializes in the creation, installation, and maintenance of IP technologies. The Inpixon offering provides Unified Systems Inc.'s large and growing customer base with a comprehensive interior intelligence platform. The complete system will allow customers to manage the flow of visitors, get improved metrics on visitors, generate accurate employee analytics, and improve security, including policy enforcement and asset tracking for government and private organizations.

• In May 2020, Mist Systems, focusing on its Wi-Fi, Bluetooth LE, and analytics techniques, implemented a series of new services to help companies implement on-premises contact tracing. The new services specifically include proximity tracking, trip mapping, and hot spot alerts, giving businesses visibility into their networks and location-based contextual information about customers and employees.

• In February 2020, Cisco Meraki launched Phunware localization services in the Meraki market. Meraki Marketplace now offers Phunware, an essential channel for thousands of Cisco Meraki customers in over 100 countries around the world, to meet the needs of potential and existing customers for LBS solutions in their networks without the threat of adopting unproven technology.