Press release
Major Market Shift in Enterprise Indoor Location-Based Services Industry: Geolocation Platform Innovations For Precise Enterprise Indoor Navigation
Enterprise Indoor Location-Based Services Market Growth
In recent years, the enterprise indoor location-based services market has witnessed exponential growth. It is projected to grow from $0.93 billion in 2024 to $1.31 billion in 2025, displaying a compound annual growth rate (CAGR) of 41.2%. The exceptional growth experienced during the historic period can be attributed to various factors including advanced passenger comfort, increased demand for privacy and security, rise in passenger traffic, and a heightened focus on the operational efficiency of airports.
The market size for enterprise indoor location-based services is predicted to undergo exponential growth in the coming years, reaching a value of $5.17 billion in 2029 with a CAGR of 40.9%. This predicted growth during the forecast period can be traced back to factors such as advancements in location-based technology, wider adoption of Internet of Things (IoT) devices, the rise of Industry 4.0, increased usage of indoor positioning via lighting, and a growing reliance on analytics for optimizing business processes. In the forecast period, trends like employing IoT devices, indoor positioning tech, incorporating smart building tech, technological progress, and a swell in partnerships are expected to rule.
What Are the Main Catalysts for Growth in the Enterprise Indoor Location-Based Services Market?
The surge in IoT (Internet of Things) device usage is anticipated to propel the development of enterprise indoor location-based services. IoT devices, which are tangible items incorporating software, sensors, and other technologies capable of connecting and transmitting data through the internet without requiring human intervention, are becoming increasingly popular thanks to technological advancements, amplified connectivity choices like 5G, and wider application scopes across various industries. Corporate indoor location-based solutions make use of IoT devices to boost operational effectiveness, consumer interaction, and safety across indoor settings such as offices, warehouses, retail outfits, and medical institutions. An example of this trend is provided by a report published by Ericsson, a Telecommunications firm based in Sweden, in April 2024. The report noted that global IoT links had expanded to 15.7 billion connections in 2023, and were forecasted to experience a growth of approximately 16% to 38.8 billion connections by 2029. Thus, the increasing use of IoT devices is stimulating the expansion of the enterprise indoor location-based service market.
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Which Businesses Are at the Forefront of Enterprise Indoor Location-Based Services Market Development?
Major companies operating in the enterprise indoor location-based services market are Zebra Technologies Corporation, HPE Aruba Networking, Cisco Meraki, Geotab Inc., DecaWave Limited, Shopkick, Cisco DNA Spaces, Navigine, Ekahau, Ubisense, Pointr, Inpixon, IndoorAtlas Oy, Navizon Inc., Aisle411 Inc., Senion AB, Steerpath Oy, MazeMap AS, Infsoft GmbH, Airista Flow Inc., Locatify
What Are the Latest Innovations in the Enterprise Indoor Location-Based Services Market?
Innovative solution development, such as geolocation platforms, is a key focus for leading businesses in the enterprise indoor location-based services sector. These platforms are software systems or services that rely on multiple technologies to track and control the geographical position of gadgets, properties, or individuals. Radisys Corporation, a telecom solutions provider based in the US, launched a smart network-based geolocation platform, Radisys ReachPoint, in February 2023. This innovative platform makes indoor navigation simple, assisting employees and visitors in easily finding their way around complex offices. The solution helps enterprises track the location of any connected device, utilizing geospatial data from cell towers and Wi-Fi nodes, without depending on GPS.
How Is the Enterprise Indoor Location-Based Services Market Segmented?
The enterprise indoor location-based services market covered in this report is segmented -
1) By Product: Analytics And Insights, Automotive Services, Campaign Management, Consumer Services, Enterprise Services, Location And Alerts, Location-Based Advertising Services, Maps, Precision Geo-Targeting
2) By Component: Hardware, Software, Services
3) By Application: Monitoring, Navigation, Proximity, Tracking, Other Applications
Subsegments:
1) By Analytics And Insights: Real-Time Data Analytics, Predictive Analytics
2) By Automotive Services: Fleet Management Services, Vehicle Tracking Services
3) By Campaign Management: Targeted Campaigns, Real-time Campaign Analytics
4) By Consumer Services: Indoor Navigation For Consumers, Consumer Location Tracking
5) By Enterprise Services: Workforce Management, Indoor Asset Tracking, Employee Location Tracking
6) By Location And Alerts: Geofencing Alerts, Proximity Alerts
7) By Location-based Advertising Services: In-Store Advertising, Personalized Advertising
8) By Maps: Indoor Mapping Solutions, Interactive Maps For Navigation
9) By Precision Geo-targeting: Location Precision Services, Geo-Fencing And Targeting Solutions
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Where Is the Enterprise Indoor Location-Based Services Market Growth Most Prominent?
North America was the largest region in the enterprise indoor location-based services market in 2024. The regions covered in the enterprise indoor location-based services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Enterprise Indoor Location-Based Services Global Market Report?
- Market Size Analysis: Analyze the Enterprise Indoor Location-Based Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Enterprise Indoor Location-Based Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Enterprise Indoor Location-Based Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Enterprise Indoor Location-Based Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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