logo
logo
Sign in

Indoor Location Market size worth approximately $29.8 billion by 2028

avatar
MarketsandMarkets™
Indoor Location Market size worth approximately $29.8 billion by 2028

The global Indoor Location Market size is projected to grow from USD 10.9 billion in 2023 to USD 29.8 billion by 2028, at a CAGR of 22.3% during the forecast period. The demand for indoor location solutions is anticipated to rise as a result of the growing number of applications powered by BLE tags and beacons.


Browse 289 market data Tables and 50 Figures spread through 289 Pages and in-depth TOC on "Indoor Location Market”

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=989


Based on offerings, the hardware segment to hold the largest market size during the forecast period.

The hardware segment includes beacons, sensors, tags, gateways, fixed readers, and Wi-Fi access points. A rise in the demand for BLE, sensors, and Wi-Fi technologies among users to determine the location within the building has influenced vendors to develop indoor location hardware. The satellite navigation system GPS has limitations for locating people or objects inside buildings due to signal loss. Emerging technologies like beacons and BLE could generate research data to create personalized, relevant, real-time experiences that lead to enhanced targeting and conversion. Companies such as Zebra Technologies, Inpixon, Cisco, Apple, infsoft, Ubisense, and Sonitor offer various indoor location hardware for customers with advanced technologies to track and locate people and objects and increase customer experience.


Based on technology, ultra-wideband is projected to register the highest CAGR during the forecast period.

UWB is an impulse, baseband, and carrier-free technology that transmits very low-duration pulses with a small power spectral density. It has an access range between 3.1 GHz and 10.6 GHz. This excessive bandwidth gives information rates for the conversion of data for decision-making. Infsoft offers an indoor tracking solution that helps manufacturers track goods with high accuracy so that it is possible to identify the exact shelf on a high rack on which the searched item can be found. The goods’ locations can be viewed on a digital map anytime. This, in turn, results in reduced search times, ideal warehousing, and efficient process management.


Based on application, the sales and marketing segment to hold the largest market size during the forecast period.

Practitioners and businesses looking to enhance the shopping experience for customers to increase sales and profitability have given indoor positioning systems a lot of attention. Geofencing is used for marketing at trade exhibitions, airports, train stations, and retail malls for sales and marketing optimization. Based on their interests and behaviors, users can give anonymous tags. For instance, Walkbase, a Finnish startup, offers a retail solution that evaluates the effectiveness of marketing campaigns indoors and the ensuing sales conversion. It investigates consumer behavior when they enter a store. As a result, it is easier for shops to create different campaigns that consider a customer's inside trip.


The European economy and its businesses have struggled to integrate digital tools into their practices over the years. Some top European countries contributing to the indoor location market include the UK, Italy, France, and Germany. Though businesses in the region are witnessing slow adoption trends, they are making significant efforts to succeed in digital transformation, especially with the integration of new technologies, such as BLE Beacons and Wi-Fi. Europe is one of the major regions for R&D in the fields of indoor location or indoor positioning.


The UK is one of the strongest economies in Europe. Enterprises in the UK have readily adopted indoor location solutions and services. The technology domain in the UK has witnessed significant growth in the last few years due to mergers, acquisitions, and strategic partnerships. The adoption of cloud services in the UK has increased, leading to advancements in technology and improved tracking ability.. The growing adoption of mobile subscriptions and the increasing use of smartphones across the region have significantly increased the demand for indoor location technologies.


Germany is a growing market for indoor location technologies. The rapid digitization across industries and the increasing demand for indoor location technologies, such as Wi-Fi, BLE beacons, and UWB, have also influenced the growth of the indoor location market. Companies are deploying location analytics solutions to optimize business decisions in determining the best area to open a new store to improve the supply chain and create engaging marketing campaigns.


France is gaining momentum with the adoption of advanced location intelligence solutions. Enterprises in the country have realized that speed and improved performance are the top benefits of using indoor location solutions and services. The government has started investing in indoor location technologies that will help various business sectors, including manufacturing, retail, and transportation and logistics. It will contribute to the GDP growth of the country. Toulouse-Blagnac Airport in France has installed a mobile indoor positioning solution to improve passenger comfort, better manage visitors’ traffic, and help passengers reach their destination easily and on time.


About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit  MarketsandMarkets™ or follow us on TwitterLinkedIn and Facebook.


Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]

Visit Our Website: https://www.marketsandmarkets.com

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/indoor-positioning-navigation-ipin-market.asp

Content Source: https://www.marketsandmarkets.com/PressReleases/indoor-location.asp

collect
0
avatar
MarketsandMarkets™
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more