2020 Indoor Location Market to Provide Profitable Opportunities with 25.3% of CAGR by 2027 with Top Companies – Cisco Systems, Zebra Technologies Corporation, Broadcom, Qualcomm
Indoor Location Market is anticipated to grow at a CAGR of 25.3% to account $24,601.1 Million by 2027 which was valued at US$ 3,493.8 Million in 2018
A key trend which will predominantly affect the indoor location market in a coming year is the cross-pollination of technologies by the industry participants in order to cater to various indoor location applications. Leading indoor location vendors in the indoor location market are shifting from offering the closed solution to opening up the application layer and combining the most potent components. For instance integration of BLE and UWB. In the coming years the indoor location market is anticipated to witness rising instances of usage of the hybrid technologies.
Indoor Location Market 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 and Logistics, Entertainment, Public Buildings, Manufacturing and Others) Global Analysis and Forecast
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The implementation of indoor location system has recently witnessed a significant adoption in diverse verticals ranging from manufacturing to logistics to security to sports. The growth in adoption of indoor location system is attributed to several factors such as widespread availability of low-cost sensors and tags, the sophistication of the sensing and connectivity capabilities in devices that do not impact battery life, and the introduction of open ecosystems that allow organizations to construct more flexible business models without locking them into hardware or software.
There has been constant development in indoor location industry. For instance, Here company enhanced its HERE Positioning by integrating it with GiPStech’s inertial sensors technology. The advancement is expected to provide enhanced smartphone experience for users when they are locating themselves. Also, Zebra Technologies introduced PS20, a new Android-based mobile barcode scanner that allows shoppers to pay for items without going through traditional checkout. The device supports Visible Light Communication (VLC) that can transmit location data with the help of fluorescent light to create indoor position systems.
Indoor Location Market Strategic Insights and Industry Developments
Parnership was observed as the most adopted strategy in global indoor location market. Few of the recent strategies by some of the palyers are listed below:
2018: LocusLabs announced strategic partnership with IndoorAtlas with the aim of providing enhanced indoor location-based experiences. The partnership is aimed to develop an end-to-end digital wayfinding solution to power location based applications and experiences in venues like airport, offices, and railway stations among others.
2018: Cisco announced acquisition of July Systems a mobile application platform provider. The acquisition is expected to help Cisco to enhance its enterprise Wi-Fi platform to enable better indoor location services capabilities.
Key Companies Operating In Indoor Location Market
- Indooratlas Ltd
- STMicroelectronics N.V.
- Cisco Systems, Inc.
- Zebra Technologies Corporation
- Broadcom, Inc.
- Qualcomm Incorporated
- Micello Inc. (HERE global b.v.)
GLOBAL INDOOR LOCATION MARKET SEGMENTATION
By Deployment Type
- Visual Light Communication
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