The global indoor location market is predicted to reach USD 9.15 billion in 2024 and USD 25.24 billion by 2029, growing at a CAGR of 22.50% during the forecast period.
With the advent of the cloud and IoT systems, businesses are now automating most of their operations. The healthcare sector should also see a larger number of applications. The growing applications of IoT, designed to meet the demands of healthcare, are believed to help the growth of market research for the healthcare industry. Indoor location is the concept that includes tracking any object or human in the indoor location. It implements indoor positioning technology to serve the purpose of tracking, using the radio waves received by the handheld device. The emergence of IPS technology is due to the poor performance of GPOS technology in indoor installations. It finds its application in public places like hospitals, airports, shopping malls, and others.
In addition, the increasing use of smartphones with innovative mobile applications, mobile commerce, the trend of digitization, and technological advances are driving the growth of the indoor location market. Also, the government's awareness of having improved positioning technology for the urban safety and public safety segment is increasing the demand for indoor location solutions. In the global indoor location market, professional services are crucial as they include solutions to improve consumer awareness and growth of indoor location technology to attract customers to shopping and shipping. The indoor location services segment is experiencing a high adoption rate in the overall market due to its obligation to keep up with changing technology that can be used for advanced development in the market.
The transportation and logistics vertical is expected to advance further, with the highest CAGR during the forecast period. This growth can be attributed to the need to provide mobile support to passengers at airports and train stations to guide them to the right place to locate restaurants and stores in airports and railways. Adopting indoor location solutions helps the transportation industry understand customer behavior and provides valuable insights that could help create amplified advertising campaigns, select suitable locations, and optimize services. Additionally, selecting indoor tracking solutions enables the vertical transport industry to effectively control inventory, track missing equipment, and reduce audit costs.
The success of the logistics and transportation industry depends on complex and recurring operations and capital-intensive processes. The logistics industry faces challenges in terms of tracking the location of assets in warehouses. The requirement to track and recognize asset locations to reduce time wasted in asset location management to guide the adoption of indoor location solutions across the logistics vertical. With the support of location analysis solutions, a business can organize and interpret complex maps, allowing it to quickly obtain information and communicate with its customers effectively.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
22.50% |
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Segments Covered |
By Service, Solution, Application, Industry, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Apple Inc. (US), Telefonaktiebolaget LM Ericsson (Europe), Google Inc. (US), Microsoft (US), Broadcom (US), Gbrmpa, HERE, Qualcomm Technologies, Inc. (US), Senion (Europe), Zebra Technologies Corp., STMicroelectronics (Switzerland), AeroScout Industrial, Ekahau, Hewlett Packard Enterprise Development LP, AISLE411 (USA), Glopos Technologies, IndoorAtlas Ltd., Navizon Inc (USA), Near Now, Sensewhere and Others. |
The worldwide market includes a tag-based solution, an RF-based solution, and others.
In addition, the main services covered during the study are support and management services, consulting, and others.
Additionally, the market serves industries such as BFSI, government, oil and gas, manufacturing, and retail.
North America is expected to see a notable share of the worldwide indoor location market due to the increasing penetration of smartphones and the growth of IoT technology in the area. The North American region is also the second-largest market for tablets, smartphones, and vehicle navigation systems, the largest aircraft manufacturer, and one of the largest manufacturers of aerospace and marine navigation products.
The major companies operating in the global indoor location market include Apple Inc. (US), Telefonaktiebolaget LM Ericsson (Europe), Google Inc. (US), Microsoft (US), Broadcom (US), Gbrmpa, HERE, Qualcomm Technologies, Inc. (US), Senion (Europe), Zebra Technologies Corp., STMicroelectronics (Switzerland), and AeroScout Industrial.
In April 2020, Inpixon announced that it had signed with Unified Systems Inc. as an authorized reseller. Unified Systems Inc. is a company that specializes in the creation, installation, and maintenance of IP technologies. The Inpixon offering provides Unified Systems Inc.'s large and growing customer base with a comprehensive interior intelligence platform. The complete system will allow customers to manage the flow of visitors, get improved metrics on visitors, generate accurate employee analytics, and improve security, including policy enforcement and asset tracking for government and private organizations.
In May 2020, Mist Systems, focusing on its Wi-Fi, Bluetooth LE, and analytics techniques, implemented a series of new services to help companies implement on-premises contact tracing. The new services specifically include proximity tracking, trip mapping, and hot spot alerts, giving businesses visibility into their networks and location-based contextual information about customers and employees.
In February 2020, Cisco Meraki launched Phunware localization services in the Meraki market. Meraki Marketplace now offers Phunware, an essential channel for thousands of Cisco Meraki customers in over 100 countries around the world, to meet the needs of potential and existing customers for LBS solutions in their networks without the threat of adopting unproven technology.
By Solution
Tag-based Solution
RF-based Solution
By Application
Indoor Navigation & Maps
Tracking & Tracing Application
Monitoring & Emergency Management
By Service
Support and Managed Services
Consulting
By Industry
Government
BFSI
Oil & Gas
Manufacturing
Retail
By Region
North America,
Europe,
Asia-Pacific
Latin America
Middle East
Frequently Asked Questions
Some of the key challenges include privacy concerns related to location tracking, interoperability issues among different indoor positioning technologies, and the need for robust infrastructure to ensure accurate indoor positioning. Additionally, the high initial implementation costs and the complexity of integrating indoor location solutions with existing systems pose significant challenges to adoption.
Indoor location technology in healthcare facilities enhances patient care by enabling real-time tracking of medical equipment, staff, and patients. It streamlines workflow management, reduces wait times, and enhances emergency response times. Furthermore, indoor positioning systems help hospitals ensure compliance with regulations and improve overall operational efficiency.
Indoor location technology improves transportation and logistics operations by optimizing route planning, tracking assets and shipments in real-time, and enhancing warehouse management processes. It enables more efficient inventory management, reduces delivery times, and minimizes the risk of loss or theft of goods.
Emerging applications include personalized guest experiences through location-based services, efficient staff management and workflow optimization, and enhanced security and access control systems. Indoor location technology also facilitates contactless check-in/out procedures and enables targeted marketing campaigns based on guest preferences and behavior.
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