Global Indoor Location-based Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Indoor Location-based Services Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global indoor location-based Services market report has been segmented on the basis of product, technology, application, end-use, and region.
Global Indoor Location-based Services Market: Overview
Location-based services (LBS) are location-specific mobile services. It provides information or functions to smartphone users, depending on their location. There are various methods available for indoor positioning within buildings or organizations to implement location-based services.
Global Indoor Location-based Services Market: Dynamics
Increasing demand for indoor location-based services for connected devices, such as mobile phones, laptops, tablets, etc. across the globe is a key factor expected to drive growth of the global market over the forecast period.
In addition, rising adoption of location-based services in retail industry for marketing or promotional applications in another factor expected to further fuel growth of the target market over the forecast period.
Furthermore, technological advancements in infrastructure facilities such as shopping malls, skyscrapers, educational institutes, hi-tech parks, and hospitals across various countries is expected to boost growth of the global market over the forecast period.
However, real-time accuracy of the information is a key factor expected to restrain growth of the global market over the forecast period.
Ongoing trend observed in the target market is increasing demand for indoor location-based services by various industries to improve their offerings by using business intelligence and analytics to enhance location accuracy, thereby tracking efficiency.
In addition, rising adoption of these services by private organizations, government bodies to track public activities is another factor expected to support growth of the target market over the forecast period.
Increasing demand for advanced infrastructure for building and corporate offices with hi-tech technology where indoor location-based services widely used are expected to create potential revenue opportunities for players operating in the target market over the forecast period. In addition, increasing investment activities by players operating in the target market for opening new stores in order to expand their offerings across the globe. For instance, in March 2017, Apple Inc. opened new stores in Miami, Cologne, and Nanjing in order to expand their sales operations.
Global Indoor Location-based Services Market: Segment Analysis
Among the product segments, the location-based advertising service segment is expected to dominate in the target market, owing to rising adoption of location-based applications by various companies in order to promote their products.
Among the technology segments, the Wi-Fi/WLAN, BT/BLE, Beacons, and A-GPS segments is expected to register significant growth in terms of revenue over the forecast period, owing to technological developments in Wi-Fi networks for data security and availability of low-cost beacons and rollout of ultra-wide band frequencies.
Among the application segments, the tracking application segment is expected to register highest growth in terms of CAGR over the forecast period.
Among the end-use segments, the retail segment is expected to account for major market share, owing to rising adoption of location-based services in retail sector for marketing and customer retention.
Global Indoor Location-based Services Market: Regional Analysis
The market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to presence of key players operating in the target market and increasing development of location-based service technologies for various applications across various countries in this region.
The market in Asia Pacific is expected to register fastest growth in terms of CAGR over the forecast period, owing to technological advancements and improving infrastructural development, such as commercial offices, smart cities, and shopping malls across various countries in the region. These factors are expected to crate lucrative opportunities for manufacturers in order to implement location-based services in the region.
Global Indoor Location-based Services Market Segmentation:
Segmentation by product:
- Analytics and Insights
- Campaign Management
- Consumer Services
- Enterprise Services
- Proximity Beacons
- Location and Alerts
- Location-based Advertising Services
- Others (Precision Geo-targeting, Automotive Services, Secure Transactions and Redemptions)
Segmentation by technology:
- Context Aware Technology
- OTDOA and E-OTDOA
- RFID and NFC
- Satellite, Microwave and Infrared Sensing
- Wi-Fi/WLAN, UWB, BT/BLE, Beacons, and A-GPS
Segmentation by application:
Segmentation by end-use:
- IT and Telecommunication
- Energy and Power
- Transportation & Logistics
- Others (Aerospace and Defense, Hospitality, Media and Entertainment, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Apple Inc.
- Cisco Systems Inc.
- GloPos Technology
- Google LLC
- HERE Holding Corporation
- Inside Secure S.A.
- IndoorAtlas Ltd.
- Micello, Inc.
- Microsoft Corporation
- Navizon Inc.
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