The Business Research Company’s report on the Micro-Location Technology Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the micro-location technology market’s growth in recent years?
The growing use of mobile devices is expected to propel the growth of the micro-location technology market going forward. A mobile device is a compact hand-held gadget with a touchscreen display and other capabilities. Mobile devices utilize micro location-based technology to determine the in-house location of any assets, persons, or other equipment. For instance, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, 71.8 million mobile connections were active in 2022, which is an increase of 3.8% from 2021. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, the growing use of mobile devices is driving the growth of the micro-location technology market.
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How does the future projection of the micro-location technology market size compare to its historical growth?
The micro-location technology market size has grown rapidly in recent years. It will grow from $29.83 billion in 2024 to $34.93 billion in 2025 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to augmented reality integration, emergence of indoor navigation, mobile device ubiquity, retail personalization trends, smart building solutions.
The micro-location technology market size is expected to see rapid growth in the next few years. It will grow to $64.97 billion in 2029 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to industry 4.0 and logistics, smart cities initiatives, healthcare innovation, retail transformation, rising demand for indoor navigation, rapid advancements in IoT. Major trends in the forecast period include emerging use cases, edge computing and edge analytics, safety and security solutions, augmented reality (AR) integration, supply chain optimization.
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Which key players are shaping the future of the micro-location technology market?
Major companies operating in the micro-location technology market are Apple Inc., Cisco Systems Inc., Google LLC, CenTrak Inc., Humatics Corporation, Hewlett Packard Enterprise Development LP, Sewio Networks, Siemens AG, Zebra Technologies, Ubisense Group, Aruba Networks, Kontakt.io, Ruckus Networks, Estimote Inc., Camco Technologies nv, Quuppa Intelligent Locating System, Mist Systems, Inc., DecaWave Limited, Redpine Signals, Visible Assets Inc, Gimbal Inc., Bluvision, Pole Star, Inpixon, Pointr, IndoorAtlas Oy, KIO RTLS, Locatify, MERIDIAN, Navisense GmbH, sensewhere Ltd., Hexagon AB, Broadcom Inc., MiTAC Digital Technology Corporation
What trends will propel the growth and evolution of the micro-location technology market?
Product innovation is a key trend gaining popularity in micro-location technology. Major companies operating in the micro-location technology market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Smith Micro Software, Inc., a US-based company providing software solutions to wireless and cable service providers, launched Micro’s SafePath 7 platform. The wireless carrier will offer its subscribers enhanced digital family safety functionalities such as powerful parental controls, real-time location services, and app evasion features. The SafePath platform includes SafePath Family, SafePath IoT, and SafePath Home provides comprehensive and simple-to-use capabilities for protecting digital lifestyles and managing connected devices through a single app.
Which regions are expected to become dominant players in the micro-location technology market?
North America was the largest region in the micro-location technology market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micro-location technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the emerging key segments in the micro-location technology market, and how are they evolving?
The micro-location technology market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Bluetooth Low Energy, Wi-Fi, Near Field Communication, Beacons, Other Technologies
3) By Application: Proximity Marketing, Asset Management
4) By End Use: Healthcare, Transportation And Logistics, BFSI, Sports And Entertainment, Commercial
Subsegments:
1) By Hardware: Beacons (Bluetooth, Wi-Fi), Sensors (RFID, NFC), Location Tags, Mobile Devices, Other Tracking Devices
2) By Software: Location Analytics Software, Mapping And Navigation Software, Asset Management Software, Mobile Applications, Cloud-Based Solutions
3) By Services: Consulting Services, Installation And Integration Services, Maintenance And Support Services, Data Management Services, Training And Education Services
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What defines the structure and scope of the micro-location technology market?
Micro location technology refers to the process of locating an individual’s placement within a few inches or feet using numerous technologies. It is used to determine the location accurately, both indoors and outdoors individual’s placement.
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