MarkNtel Advisors has recently published a research report, named, Global Indoor Location Market, according to which the forecast years 2023-28 would witness a expontial growth in the Indoor Location Market globally, approximately at a CAGR of around 38%. And, this growth predominantly ascribes to consumers’ growing affinity towards smart devices & technologies, which arise from digitalization trends paired with the rising penetration of the internet & smartphones.
Other than this, the inadequacy of GPS technology in indoor locations is also observed as one of the prime factors behind the enormous growth of the market. What has made people inclined toward indoor location systems is their improved accuracy & reliability, as a result of the incorporation of Wi-Fi positioning, Bluetooth beacons, ultra-wideband (UWB), magnetic positioning, and more such innovative techniques, says the report.
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This report delves into the key strategies employed by players to maintain dominance and enhance profitability while expanding their operations. It covers elements such as ongoing trends, recent developments, performance indicators, along with a thorough Risk and SWOT Analysis.
The Global Indoor Location Market report highlights prominent companies, including Zebra Technologies, Inpixon, HPE, MIST Systems, HID Global, Google, Microsoft, Apple, Cisco, Acuity Brands, Centrak, Sonitor, Ubisense, Infsoft, HERE, Indooratlas, Stanley Healthcare, Midmark, Quuppa, Airista , low, Innerspace, ESRI, SYOOK etc, among others.
Global Indoor Location Market Segments, as Per the Report
- By Component (Hardware, Solutions [Indoor Tracking {Asset & People Tracking, Indoor Location Analytics}, Indoor Navigation], Services [Managed Services, Professional Services {Deployment & Integration, Consulting, Maintenance & Upgrade}])
- By Deployment Mode (On-Premise, Cloud)
- By Connectivity (Bluetooth, WiFi, Ultra-Wideband Technology, Others)
- By Application (Emergency Management, Sales & Marketing Optimization, Remote Monitoring, Predictive Asset Maintenance, Supply Chain Management, Others)
- By Vertical (Retail, Transportation & Logistics, Entertainment, Manufacturing, Healthcare, Travel & Hospitality, Others)
- By Organization Size (Large, Mid & Small-Size)
- By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
- By Country (US, Canada, Mexico, Brazil, UK, Germany, France, Italy, Spain, China, Japan, South Korea, India, Australia)
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Among other verticals, Transportation & logistics, followed by Travel, & hospitality, is projected to exhibit the maximum application of indoor location systems during the forecast period. The popularity in these segments is primarily backed by its analysis functionalities & real-time tracking solutions that ensure the precise and timely arrival of travelers, offering pleasant travel experiences.
These systems also streamline the transport industry with proper route optimization for security guards, queue management, & efficient inventory management. Besides, these systems are also beneficial in monitoring & managing passenger flow & busy crowds in public places, enhancing safety, which is why the segment seems promising.
North America is anticipated to hold the largest share of the Indoor Location Market during 2023-28. The credit goes to expanding investments in indoor positioning, paired with the rapid adoption of technologies like Wi-Fi, ultra-wideband, & BLE (Bluetooth Low Energy) to facilitate accurate & efficient indoor location tracking. Other than this, what supports the market growth is the need for proximity-based solutions in the retail sector, often promoted by mobile media. In fact, recognizing indoor location technologies’ potential to enhance customer experiences, optimize store layouts, and enable targeted marketing campaigns, several retailers across the region have incorporated these systems, fostering market expansion in the coming years.
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