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Indoor Location Market to Grow at 25.3% CAGR and Reach $24,601.1 Million by 2027 Led by Geomoby, Senion, Micello, Indooratlas, STMicroelectronics, Broadcom, Qualcomm, Zebra Technologies
Feb 25, 2019 (AB Digital via COMTEX) —
This report focuses on the Indoor Location Market Size, Revenue, Share, status, future forecast, growth opportunity, key market dynamics and key players. The study objectives are to present the Indoor Location development in North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA).
The Global Indoor Location Market was valued at US$ 3,493.8 Mn in 2018 and is anticipated to grow at a CAGR of 25.3% to account for US$ 24,601.1 Mn by 2027.
The key companies operating in indoor location market across the globe include BROADCOM, Cisco Systems Inc., Ericsson AB, Geomoby, IndoorAtlas Ltd., Infsoft GmbH, Micello Inc., Qualcomm Technologies Inc., Senion, Sensware Ltd., Sonitor Technologies, Spreo, STMicroelectronics, and Zebra Technologies Corporation among various other leading market players. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
The global indoor location market by geography is segmented into six region including North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is expected to account for the largest share of the global indoor location market in 2018, followed by Europe. Germany and UK being two key countries in Europe region which will lead indoor location market in this region and is also expected to continue its dominance throughout the forecast period from 2019 to 2027.
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The “Indoor location to 2027 by Deployment Type (On-Premise and On-Cloud); by Technology (Tags, Nodes, Ultra-Wideband, Bluetooth, Wi-Fi, Visible Light Communication and Radiofrequency Identification); by Components ( Hardware, Software and Services); by Application (Remote Monitoring, Customer Experience Management, Inventory Management, Emergency Response Management, Sales and Marketing Optimization, Risk Management, Predictive Asset Analytics and Others) and Verticals (Hospitality, Retail, Transportation & Logistics, Entertainment, Public Buildings, Manufacturing and Others); – Global Analysis and Forecast”
The scope of study involves understanding on the factors responsible for this growth of Indoor location market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant Indoor location players in the market and their key developments. The Insight Partners: Noteworthy rise in the cloud migration instances by the industries is expected to drive the indoor location Market by 2027 with a CAGR of 25.3%.
Indoor location Market to 2027 – Global Analysis and Forecast by Deployment Type, technology, component and verticals, indoor location market is expected to grow US$ 24,601.1 million by 2027 from US$ 3,493.8 million in 2018. An indoor location is a system that is used for locating people or object in a closed infrastructure with the help of radio waves, lights, magnetic fields, or other sensory information. There are a numerous commercial systems available in the market. However, there isn’t any specific standardization for indoor location system.
The indoor location solution and services were introduced in order to fill the gap that existed with the use of GPS. The GPS loses substantial power indoors, which in response affects the potential of the GPS technology to provide expected service indoor. The continuous advancement in technology coupled with improved hardware efficiencies has resulted in adoption of multiple technologies such as beacons (RFID, tags, and nodes), Wi-Fi, and geomagnetic for offering superior indoor location services with enhanced accuracy levels. Thus, the growing scope of application for indoor location for tracking, monitoring, and identifying, of various assets within enterprise, manufacturing plant, and infrastructure is also fueling the market growth across various industry verticals.
Currently, the major application of indoor location includes asset monitoring, enabling exclusive customer experience through optimizing marketing & sales offers, inventory management and emergency response management. Thus, industrial hubs such as manufacturing, automotive & transportation, aerospace & defense, and healthcare along with utilities are major end-users propelling the market growth across various countries on a global scale.
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Some of the remarkable partnership and collaboration in this industry is the strategic partnership of Fathom Systems with HERE to deliver real-time asset tracking and positioning system. The solution was developed by integrating HERE Indoor Positioning system with Fathom Locatortm cloud-based subscription service.
The report segments the global Indoor location market as follows:
1.1.2 Global Indoor Location Market – By Technology
1.1.3 Global Indoor Location Market – By Components
1.1.4 Global Indoor Location Market – By Application
• Remote Monitoring
1.1.5 Global Indoor Location Market – By Vertical
1.1.6 Global Indoor Location Market – By Geography
• North America
• Asia Pacific (APAC)
• Middle East and Africa (MEA)
• South America
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