The indoor location global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Indoor Location Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The indoor location market size has grown exponentially in recent years. It will grow from $11.37 billion in 2023 to $14.09 billion in 2024 at a compound annual growth rate (CAGR) of 23.9%. The growth in the historic period can be attributed to growing number of applications powered by beacons and Bluetooth low energy tags, increasing use of proximity-based solutions in the retail sector bolstering growth, increasing adoption of IoT and connected devices such as wearables and smartphones, rising emphasis on consumer preference and consumer behavior.
The indoor location market size is expected to see exponential growth in the next few years. It will grow to $33.58 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to government initiatives for smart cities, inefficiency of the GPS technology in indoor premises, demand for navigation, growing need for accurate and real-time location services, increasing adoption of data analytics in the retail sector. Major trends in the forecast period include technological developments, integration with augmented reality, real-time location systems (RTLS), augmented reality (AR) indoor navigation, cloud-based indoor location platforms.
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Scope Of Indoor Location Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Indoor Location Market Overview
Market Drivers –
The increasing use of smartphones is expected to propel the growth of the indoor location market going forward. A smartphone refers to a mobile phone that offers advanced computing capabilities and connectivity, typically including features such as internet access, touchscreen interfaces, and the ability to run third-party apps. Smartphone usage is increasing due to its multifunctionality, accessibility, improved technology, app ecosystem, role in work and education, and entertainment capabilities. Smartphones play a crucial role in indoor location by leveraging a combination of sensors, wireless technologies, and mapping apps to provide accurate indoor positioning and navigation services. For instance, in March 2023, according to a report published by Cybercrew, a UK-based cybersecurity solutions provider, the percentage of UK households using smartphones reached 91.43% in 2021 and is projected to rise to 93.8% by 2026. Therefore, the increasing use of smartphones is driving the growth of the indoor location market.
Market Trends –
Major companies operating in the industrial automation cable market are focused on developing innovative products, such as XtendedFlex 178, to increase their profitability in the market. XtendedFlex 178 is a high-flex coaxial cable designed for applications that demand constant cable motion and flexibility. For instance, in March 2023, Times Microwave Systems, a US-based manufacturer of innovative microwave interconnect assemblies and cables, announced the launch of the ‘XtendedFlex 178’ continuous flex coaxial cable. It is tailored for use with plastic cable drag chains. The XF-178 cable is precisely engineered to meet the demands of applications characterized by continuous movement and adaptability, notably in sectors such as robotics and industrial automation utilized in expansive distribution centers.
The indoor location market covered in this report is segmented –
1) By Offering: Hardware, Solutions, Services
2) By Technology: Bluetooth Low Energy (BLE), Ultra-wideband (Uwb), Wi-Fi, Radio Frequency Identification (RFID), Magnetic Positioning
3) By Application: Emergency Response Management, Sales And Marketing Optimization, Remote Monitoring, Predictive Asset Maintenance, Supply Chain Management, Inventory Management
4) By Vertical: Retail, Travel And Hospitality, Media And Entertainment, Transportation And Logistics, Government And Public Sector, Manufacturing, Healthcare And Pharmaceuticals
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Regional Insights –
North America was the largest region in the indoor location market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor location market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the indoor location market are Apple Inc., Google LLC, Microsoft Corporation, Cisco Systems Inc., Mist Systems Inc., Broadcom Inc., Hewlett Packard Enterprise Company (HPE), Nokia Corporation, CommScope Inc., Secure Energy Services Inc., Zebra Technologies Corporation, Acuity Brands Inc., Halma plc, HERE Global B.V., Environmental Systems Research Institute Inc. (Esri), STANLEY Healthcare, Orient Electric Limited, Polaris Wireless Inc., Ubisense Limited, Inpixon, Sonitor Technologies AS, IndoorAtlas Ltd., HID Global Corporation, Quuppa Oy, InnerSpace Technology Inc., AiRISTA Flow Inc., Pozyx Labs NV, Mapxus Limited, Kontakt.io Inc., infsoft GmbH
Table of Contents
1. Executive Summary
2. Indoor Location Market Report Structure
3. Indoor Location Market Trends And Strategies
4. Indoor Location Market – Macro Economic Scenario
5. Indoor Location Market Size And Growth
…..
27. Indoor Location Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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