Increasing digitalization along with technological advancements is projected to magnify growth in the global Indoor Location Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post pandemic times.
It’s being expected that by 2032, the Indoor Location market cap will hit US$ 28,500.5 Million at a CAGR growth of about 14.2%.
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global Indoor Location chip market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries.
Ever since the outbreak of the global crisis, impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global Indoor Location market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, global Indoor Location market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global Indoor Location market.
Indoor Location for RF-based segment to Sustain the Highest Revenues, Followed by Tag-based
RF-based based solutions are appealing to large organizations, which have the capabilities of hosting these systems on their own, on a large scale. Enhanced security & control in Indoor Location over larger scale drive the demand for RF-based based system. In addition, RF-based-based system can be easily integrated with advanced technologies which is adding up to its advantage. On ther hand, the Tag-based segment is anticipated to grow at the significant CAGR over the forecast period.
Tracking and Tracing Indoor Location application Segment to be the Most Lucrative
Rising demand to manage and monitor indoor locations is expected to boost the need for Indoor Location solution in healthcare, and manufacturing sector. Moreover, the growing adoption of advanced technologies such as GPS, and other tracing solutions is anticipated to bolster the market growth. Indoor Navigation & Maps segment is anticipated to account for largest revenue share. The tracking and tracing segment is estimated to lucrative growth opportunity for market growth.
APAC to Sweep the Largest Revenue Streams Followed by North America
APAC is the largest contributor to this market, followed by Europe and then North America. In Asia, the presence of nations like China and India, with their massive subscriber bases and constantly shifting regulatory and competitive landscapes, has raised demand for Indoor Location systems. North America, on the other hand, is confronted with the challenges of a deregulated telecom sector.
Further, tracking and tracing is one of the fastest growing segment in application which in turn is favoring rampant expansion of the global Indoor Location market across regions such as North America and Asia Pacific. Consumer preferences for enhanced customer service with real-time billing experience is expected to gain traction in the global Indoor Location market.
Growing need for tracking and tracing solution is expected to offer new opportunities in the global Indoor Location market
An indoor location system uses acoustic signals, magnetic fields, radio waves, and other sensory information acquired from mobile devices to find persons or things inside a building. Indoor location, also known as interior localization, is the tracking of everything present in an indoor space. Indoor location, also known as indoor localization, is the tracking of any object that is present in an indoor environment. Indoor positioning system sophisticated technology is utilised for tracing items that can detect objects or individuals in a firm using radio waves or acoustic signals received by handheld devices such as cellphones and other gadgets. Consistent government support for ensuring public safety, rising smartphone usage, and the inadequacy of GPS technology in interior locations are the primary drivers driving the growth of the indoor location industry. Furthermore, increasing smartphone usage with new mobile applications, mobile commerce, the digitalization trend, and technological improvements are fueling the indoor location market's growth. Consistent government support for ensuring public safety, rising smartphone usage, and the inadequacy of GPS technology in interior locations are the primary drivers driving the growth of the indoor location industry. Furthermore, increasing smartphone usage with new mobile applications, mobile commerce, the digitalization trend, and technological improvements are fueling the indoor location market's growth.
Despite a minor growth dip owing to Covid-19 implications, the global Indoor Location market is expected to recoup growth and register a CAGR over the forecast period.
Furthermore, government awareness of the need for improved positioning technology in the urban security and public safety segments is driving up demand for indoor location solutions. Professional services are extremely important in the indoor location market, and they include solutions supplied by service providers to raise awareness and growth of indoor location solutions and technology for luring customers to stores and navigation. Rising government support for public safety, as well as an increase in the number of applications powered by beacons and BLE tags, rising integration of beacons in cameras, LED lightings, POS devices, and digital signage, increasing customer adoption of smartphones, connected devices, and location-based applications, and rising GPS inefficiency in an indoor environment are all major factors driving market growth. Furthermore, in the forecast period, rising demand for RFID tags in the retail industry, rising demand for indoor location technologies to support lean automation and robotic processes, and rising research and development activities in the market will create new opportunities for the indoor location market.
Although the COVID-19 pandemic has had an impact on the indoor location industry, organisations are still using it for facility management, virus tracking, people tracking and management, and smart quarantining. Indoor location systems are being adopted by governments and business companies across verticals to keep citizens indoors and track them. For example, Inpixon is providing its location-based technology applications and services to healthcare providers and other organisations that are looking for solutions to help restrict the spread of COVID-19 for no cost or at a discounted charge (depending on the solution).
With the increasing use of smartphones and shifting consumer mobile buying behaviour, startups and established businesses are scrambling to find new methods to engage their indoor users with location-based applications. Retailers have been able to improve their customer experiences by implementing indoor location technology and providing suitable navigation for goods or locations. Interior location solutions allow businesses to connect people inside vast indoor venues with their brands, goods, partners, or anything else that will help them grow their customer relationships and sales. Users can locate a person's location within a certain range thanks to the spread of numerous technologies such as BLE and Wi-Fi. Airlines and airports can employ beacons to identify a user's presence inside the airport using geofencing technology and determine which floor the user is on. Knowing the location of a passenger before delivering information allows for more efficient communication.
The major players of the global Indoor Location market are Zebra Technologies, Inpixon, Mist, HID Global, Google, Microsoft, Apple, Cisco, HPE, Acuity Brands, Esri, CenTrak, Sonitor, Ubisense, infsoft, Polaris Wireless, HERE, STANLEY Healthcare, and Quuppa.
The Indoor Location market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate into the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst Covid-19 impact.
Latest Innovations in the Global Indoor Location Market: a Snapshot
- In April 2020, Inpixon announced that it had signed Unified Systems Inc. as an authorized reseller. Unified Systems Inc. is a systems integration company specializing in the design, installation, and maintenance of IP-based technologies.
- In February 2020, Cisco Meraki has launched Phunware location-based services in the Meraki Marketplace. The Meraki Marketplace now provides Phunware, an essential channel to thousands of Cisco Meraki customers, across more than 100 countries worldwide.
Indoor Location Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||US$ 28,500.5 Million|
|Growth Rate||CAGR of 14.2 % during 2022-2031|
|Segment Covered||by Service Type, by Technology Type, by Software Tools Type, by End Use Type, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Acuity Brands, AiRISTA, Apple, Azitek, CenTrak, Cisco, Esri, Google, HERE, HID Global, HPE, Infsoft, InnerSpace, Inpixon, Kontakt.io, Mapxus, Microsoft, Mist, Navenio, Navigine, Oriient, Polaris Wireless, Pozyx, Quuppa, SITUM, Sonitor, STANLEY Healthcare, Syook, Ubisense, and Zebra Technologies.|
Key Segments of the Global Indoor Location Market
Solution Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Indoor Navigation & Maps
- Tracking and Tracing
- Monitoring & Emergency Management
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa