The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Business Research Company’s Indoor Location Based Services Global Market Report 2024 offers crucial insights into the indoor location based services market help businesses analyse and build stronger strategies.

Market Overview and Current Growth

• The indoor location-based services market has seen significant growth, increasing from $12.87 billion in 2023 to $14.74 billion in 2024.
• This growth represents a compound annual growth rate (CAGR) of 14.6%.
• Factors driving this growth include:
  • Increased demand for indoor navigation
  • Enhanced customer experiences
  • Efficient resource management
  • Rising demand for indoor asset tracking

Future Market Projections

• The market is expected to continue its rapid growth, reaching $25.63 billion by 2028, with a CAGR of 14.8%.
• Growth in this period is attributed to:
  • Growing healthcare applications
  • Increasing efficient facility management
  • Rising smartphone penetration
  • Demand for location-based services in public venues
  • Emergence of smart buildings
• Major trends to watch include:
  • Integration with AI and machine learning
  • Advanced indoor positioning technologies
  • Real-time location analytics
  • Location-based personalization
  • Cross-industry adoption

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Impact of Connected Devices

• The proliferation of connected devices is significantly boosting the indoor location-based services market.
• Connected devices, equipped with sensors and network connectivity, enable data exchange and enhance indoor positioning accuracy.
• Key statistics:
  • As of August 2022, approximately 7 billion devices are connected via the Internet of Things (IoT).
  • This number is projected to grow by an additional 20 billion devices by 2025.
• Increased data points from connected devices enable seamless navigation and personalized indoor experiences.

Key Market Players

• Major companies in the indoor location-based services market include:
  • Apple Inc.
  • Alphabet Inc.
  • Samsung Electronics Co. Ltd.
  • Microsoft Corporation
  • Huawei Technologies Co. Ltd.
  • CenTrak
  • Siemens AG
  • IBM
  • Cisco Systems Inc.
  • Qualcomm Technologies Inc.
  • Nokia Corporation
  • Ericsson AB
  • Baidu Inc.
  • CommScope Inc.
  • Zebra Technologies Corporation

Enhancing Indoor Navigation with Precise Positioning Technologies

• Companies are focusing on developing advanced indoor positioning software for wayfinding.
• Example: In July 2022, ESRI launched ArcGIS IPS, a solution for indoor positioning and wayfinding.
• Features of ArcGIS IPS:
  • Real-time indoor wayfinding
  • Location tracking and sharing
  • Indoor analytics
  • Uses technologies like Wi-Fi, Bluetooth Low Energy (BLE), and sensor-based systems

Verizon’s Acquisition of Senion

• In June 2021, Verizon acquired Senion, enhancing its indoor location-based services capabilities.
• Senion’s technology provides sub-meter accuracy for indoor positioning and navigation.
• Integration with Verizon’s 5G platform offers:
  • Enhanced indoor wayfinding
  • Geofencing
  • Location sharing
  • Analytics
  • Predictive intelligence

Market Segmentation

• The indoor location-based services market is segmented 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.
  • Technology: Context-aware technology, OTDOA and E-OTDOA, RFID and NFC, satellite, microwave and infrared sensing, other technologies.
  • Application: Monitoring, navigation, proximity, tracking, other applications.
  • End-Use: Aerospace and defense, BFSI, IT and telecommunication, energy and power, government, healthcare, hospitality, retail, transportation and logistics, other end uses.

Regional Insights

• North America was the largest region in the market in 2023.
• Asia-Pacific is expected to be the fastest-growing region during the forecast period.

The indoor location-based services market is set for robust growth, driven by technological advancements, increased smartphone usage, and the integration of AI and machine learning. As businesses and consumers increasingly rely on precise indoor navigation and location-based services, the market will continue to expand and evolve.

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The Indoor Location Based Services Global Market Report 2024  provides a comprehensive outlook of the indoor location based services market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The indoor location based services market forecast offers a thorough analysis on indoor location based services market size, indoor location based services market share, prominent players and their strategies.

The Table Of Content For The Indoor Location Based Services Market Include:
1. Indoor Location Based Services Market Executive Summary
2. Indoor Location Based Services Market Segments
3. Indoor Location Based Services Market Size And Indoor Location Based Services Market Growth Rate
4. Key Indoor Location Based Services Market Trends
5. Major Indoor Location Based Services Market Drivers
……
25. Key Mergers And Acquisitions In The Indoor Location Based Services Market
26. Top Indoor Location Based Services Companies
27. Indoor Location Based Services Market Opportunities And Strategies
28. Indoor Location Based Services Market, Conclusions And Recommendations
29. Appendix

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