What Has Been The Evolution of the Indoor Location Based Services Market in Recent Years?
The indoor location based services market has seen considerable growth due to a variety of factors.
• The market size for indoor location-based services has experienced swift expansion lately. The market is projected to escalate from a worth of $14.74 billion in 2024 to a value of $16.97 billion in 2025, representing a compound annual growth rate (CAGR) of 15.1%.
Factors that have spurred growth during the historic period include the surging demand for indoor navigation, improved customer satisfaction, effective resource management, and the need for indoor asset tracking.
What Are the Future Growth Projections for the Indoor Location Based Services Market?
The indoor location based services market is expected to maintain its strong growth trajectory in upcoming years.
• Forecasts predict a swift expansion in the market size of indoor location-based services over the coming years. It is expected to reach a valuation of $29.44 billion in 2029, representing a compound annual growth rate (CAGR) of 14.8%.
The major drivers for growth in this period include factors such as the proliferation of healthcare applications, improved facility management, the rise in smartphone usage, demand for location-based services at public venues, and the inception of smart buildings. The forecasted period also suggests significant trends including the integration of artificial intelligence and machine learning, developments in indoor positioning technologies, real-time location analytics, personalized location-based services, and acceptance across diverse industries.
What Are The Core Factors Supporting Growth In The Indoor Location Based Services Market?
The surge in the usage of interconnected gadgets is anticipated to stimulate the expansion of the indoor location-based services industry in the future. Connected gadgets are physical devices or machines equipped with integrated sensors, software, and internet connectivity, allowing them to gather and share data with other systems or devices online. The rise in the use of these connected devices is propelled by technological advancement, the widespread accessibility of the internet, and the increasing demand for integrated, intelligent solutions across various industry sectors and consumers demographics. These interconnected gadgets intensify indoor location-based services, providing more data points for improved positioning, thus facilitating smooth navigation and customised indoor experiences. For instance, as per the report released by the Health Sector Cybersecurity Coordination Center (HC3), a US-based division of the Department of Health and Human Services' (HHS) Cybersecurity Program, in August 2022, close to 7 billion devices are interlinked via the Internet of Things (IoT) in 2022, with forecasts showing substantial expansion, with an additional 20 billion devices estimated to employ this technology by 2025. Hence, the augmented usage of interconnected devices is fuelling the expansion of the indoor location-based services industry.
What Are The Major Segments Within The Global Indoor Location Based Services Market?
The indoor location based services market covered in this report is segmented –
1) By Product: Analytics And Insights, Automotive Services, Campaign Management, Consumer Services, Enterprise Services, Location And Alerts, Location-Based Advertising Services, Maps, Precision Geo-Targeting, Other Products
2) By Technology: Context Aware Technology, Observed Time Difference Of Arrival (OTDOA) And Enhanced Observed Time Difference Of Arrival (E-OTDOA), Radio Frequency Identification (RFID) And Near-Field Communication (NFC), Satellite, Microwave And Infrared Sensing, Other Technologies
3) By Application: Monitoring, Navigation, Proximity, Tracking, Other Applications
4) By End-Use: Aerospace And Defense, Banking, Financial Services and Insurance (BFSI), Information Technology (IT) And Telecommunication, Energy And Power, Government, Healthcare, Hospitality, Retail, Transportation And Logistics, Other End Uses
Subsegments:
1) By Analytics And Insights: Location Analytics, Traffic And Footfall Analytics, Customer Behavior Analytics
2) By Automotive Services: In-Car Navigation, Real-Time Traffic Information, Parking Assistance
3) By Campaign Management: Targeted marketing Campaigns, Campaign Performance Analytics, Audience Segmentation
4) By Consumer Services: Indoor Navigation, Proximity marketing, Location-Based Offers And Coupons
5) By Enterprise Services: Workforce Management, Asset Tracking, Facility Management
6) By Location And Alerts: Geo-Fencing, Real-Time Notifications, Safety Alerts
7) By Location-Based Advertising Services: Geo marketing, Location-Based Promotions, Personalized Advertisements
8) By Maps: Interactive Indoor Maps, Digital Wayfinding, Venue Mapping
9) By Precision Geo-Targeting: Real-Time Targeting, Location-Based Targeting, Hyperlocal marketing
10) By Other Products: Augmented Reality Navigation, Indoor Positioning Systems, Proximity Sensors
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What Trends Are Shaping The Indoor Location Based Services Market?
Leading enterprises in the indoor location-based services market are directing their efforts towards the creation of cutting-edge solutions, such as indoor positioning software for facility wayfinding, that would ensure they have a competitive advantage in the market. Indoor positioning software designed for facility wayfinding is a specific software solution which allows users to navigate themselves within intricate indoor surrounds such as hospitals, shopping malls, airports, or corporate campuses. For instance, in July 2022, ESRI, a GIS software firm based in the US, introduced their new product, ArcGIS IPS (Indoor Positioning Software). This innovative solution was created for indoor positioning and wayfinding in buildings and indoor spaces, utilizing Esri's ArcGIS platform. ArcGIS IPS can facilitate real-time indoor path-finding, tracking and sharing of locations, collecting location data, and indoor analytics. The solution uses a host of indoor positioning technologies like Wi-Fi, BLE, and other sensor-based technologies to accurately calculate user locations within structures. Through the integration of indoor maps, location data, and routing algorithms, ArcGIS IPS offers users real-time navigation and wayfinding skills akin to outdoor GPS navigation devices.
Who Are the Key Players In The Indoor Location Based Services Market?
Major companies operating in the indoor location based services market report are:
• Apple Inc.
• Alphabet Inc.
• Samsung Electronics Co. Ltd.
• Microsoft Corporation
• Huawei Technologies Co. Ltd.
• CenTrak
• Siemens AG
• International Business Machines Corporation (IBM)
• Cisco Systems Inc.
• Qualcomm Technologies Inc.
• Nokia Corporation
• Ericsson AB
• Baidu Inc.
• CommScope Inc.
• Zebra Technologies Corporation
• Garmin Ltd.
• Trimble Inc.
• Environmental Systems Research institute (ESRI) Inc
• TomTom N.V.
• Telit Communications PLC
• Foursquare Labs Inc.
• Ubisense
• HERE Technologies
• YOOSE Pte. Ltd.
• Aruba Networks Inc.
• Invigor Group Limited
• IndoorAtlas Oy
• Navizone Limited
What Is The Most Dominant Region In The Indoor Location Based Services Market?
North America was the largest region in the indoor location-based services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor location based services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
