Indoor Location Market by Component (Technology, Software Tools, and Services), Deployment Mode (Cloud, and On-premises), Application, Vertical (Transportation, Hospitality, Entertainment, Retail, and Public Buildings), and Region - Global Forecast to 2022
“Increasing adoption of connected devices is driving the growth of the indoor location market”
The global indoor location market size is expected to grow from USD 7.11 billion in 2017 to USD 40.99 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 42.0% during forecast period. The growing trend of digitalization, increasing use of connected devices, and reliable assistance from governments for ensuring public safety are the major factors driving the growth of the indoor location market, while deployment and maintenance challenges are some of the major restraints for the growth of the indoor location market.
“In terms of growth rate, the sensor and tag-based technology is expected to record the highest growth rate in the indoor location market during the forecast period.”
Among the technologies, the sensor and tag-based technology is a high-growth segment in the indoor location market. To monitor natural phenomena, such as heat, pressure, humidity, and air pollution, in a certain indoor space, multiple sensors are integrated with connected devices. Tags are also used to monitor products and assets in the retail and manufacturing verticals respectively. Adoption of the sensor and tag-based technology is increasing, due to the easy adoption of technology.
“The cloud-based deployment mode is expected to have the larger market size than the on-premises segment.”
The cloud deployment mode is expected to have the larger market size than the on-premises segment. Cloud-based indoor location solution providers are developing robust cloud-based solutions for their users. Additionally, organizations are migrating to either a private or a public cloud. Moreover, the cloud deployment mode provides flexibility for business operations and can also be integrated with predictive analytics to provide real-time business insights.
“North America is expected to witness the largest market size in the indoor location market during the forecast period.”
North America is expected to lead the indoor location market with significant Research and Development (R&D) as well as technological advancements in the indoor location technology. Consequently, several North American companies and industries are strategically adopting the indoor location technology at various levels to succeed in the respective market and increase productivity.
In the process of determining and verifying the market size of the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of the profiles of the primary participants is given below:
• By Company Type: Tier I - 18%, Tier II - 40%, and Tier III - 42%
• By Designation Level: C-Level - 34%, D-Level - 28%, and Others - 38%
• By Region: North America - 32%, Europe -28%, MEA - 22%, and APAC - 18 %
Some of the major vendors in the indoor location market are Apple (US), Broadcom (US), Cisco Systems (US), Ericsson (Sweden), GeoMoby (Australia), Google (US), Micello (US), Microsoft (US), Qualcomm (US), Senion (Sweden), STMicroelectronics (Switzerland), and Zebra Technologies (US).
The global indoor location market has been segmented on the basis of components (technology, software tools, and services), deployment modes, applications, verticals, and regions. A detailed analysis of the key market players has been done to provide insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, expansions, and the competitive landscape associated with the indoor location market.
Reasons to Buy the Report
The report will help the market leaders/new entrants in the following ways:
• The report segments the indoor location market comprehensively and provides the closest approximations of the revenue numbers for the overall market segments and subsegments across different regions.
• The report helps stakeholders understand the pulse of the market and provides them information on the key market drivers, restraints, challenges, and opportunities.
• The report helps stakeholders better understand their competitors and gain more insights to improve their position in the market. The competitive landscape section includes the MicroQuadrant matrix, wherein 26 players have been placed in 4 quadrants, namely, visionary leaders, dynamic differentiators, innovators, and emerging companies, based on the companies’ product offerings and business strategies.