July 18, 2024

Indoor Location Market Booms: Envisioned to Hit US$ 32,708.0 Million by 2033, Sustained by Solid 14.4% CAGR from 2023 Onward

The indoor location market is set for significant expansion, projected to reach a staggering US$ 32,708.0 million by 2033, with an impressive compound annual growth rate (CAGR) of 14.4% from 2023 to 2033. This growth signifies a promising future for technologies and services related to indoor positioning and navigation.

An indoor location system is like a GPS for inside buildings. It helps find people or things within a building using things like radio signals, sounds, and magnetic fields, as well as data from mobile devices. This is really useful for keeping track of stuff indoors, and we call it “indoor localization.

At airports, indoor locations help in relaying information regarding points of interest (POIs) and wait times. An intermodal travel chain is also supported. On these grounds, train authorities could give information to visitors with regard to ongoing track changes and delays through indoor locations. Hospitals are making use of these solutions for integrating the booking of extra services, barrier-free routing through patient apps, and calendars with various treatment schedules. With the rapid penetration of connected devices (smartphones, in particular), there won’t be any stoppage to the indoor location market going forward. Future Market Insights has listed the key findings with insights in its latest market study entitled ‘Indoor Location Market’.

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Indoor navigation is becoming more and more important in different industries. We’re finding it increasingly necessary to track things, people, and paths indoors. Additionally, the growth of IoT (Internet of Things) devices is expected to make indoor location systems even more popular in the coming years.

In North America, there’s a growing trend of using indoor location technology, especially in places like stores and malls. This is happening because more and more businesses want to offer personalized experiences to their customers by using technology that can track their location indoors.

Key Takeaways from Indoor Location Market

  • North America holds the largest market share due to rising demand for the indoor technologies across several sectors inclusive of travel, retail, healthcare, hospitality, and public spaces.
  • Europe holds more than 20% of the overall market share along the similar lines.
  • The Asia-Pacific is expected to grow at the fastest rate in the indoor location market due to growing adoption of technological advancements herein.

Leading Key Players:

  • Apple Inc.
  • Broadcom Corporation
  • CISCO Systems Inc.
  • Ericsson
  • Google Inc.
  • Microsoft Corporation
  • Motorola Solutions
  • Nokia Corporation
  • STMicroelectronics N.V.
  • Qualcomm
  • Zebra Technologies

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Recent Developments

  • In August 2023, Cisco acquired Code BGP, a privately held monitoring Greece company. The renowned BGP experts in Code BGP may help Cisco ThousandEyes to expand its BGP monitoring capabilities and worldwide, authoritative view of Internet Health.
  • In June 2023, Mapsted published a blog stating that with Mapsted’s indoor mapping in hospitals, the management can navigate their destination faster, and patient care can be streamlined. IoT in the healthcare industry, such as indoor mapping and wayfinding for hospitals aims to increase the overall healthcare experience.

Indoor Location Industry Segmentation:

By Service Type:

  • Managed
  • Professional

By Technology Type:

  • RF-based
  • Sensor and Tag Based
  • Others

By Tools Type:

  • Software Tools
  • Visualization Tools
  • Analytics Tools
  • Context Accelerator Tools
  • Others

By End Use Type:

  • Transportation
  • Hospitality
  • Entertainment
  • Shopping
  • Public Buildings
  • Others

By Application:

  • Risk Management
  • Predictive Asset Analytics
  • Emergency Response Management
  • Remote Monitoring
  • Marketing and Customer Experience Management
  • Inventory Management
  • Other Applications

By Region:

  • North America
  • Latin America
  • Europe Indoor
  • East Asia Indoor
  • South Asia Indoor
  • Oceania Indoor
  • Middle East & Africa

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Future Market Insights Inc.
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Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Website: https://www.futuremarketinsights.com
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