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The Impact Of Increasing Penetration Of Connected Devices On The Indoor Location-Based Services Market Driver: A Major Catalyst in the Evolution of the Indoor Location Based Services Market in 2025
Indoor Location Based Services Market
The rise in the usage of interconnected devices is predicted to boost the indoor location-based services market in the future. These interconnected devices are essentially physical equipment or gadgets equipped with inbuilt sensors, software, and network connections that gather and share data with other systems or devices via the internet. This upsurge in the usage of interconnected devices comes as a result of technological advancements, extending internet connections, and an escalating demand for interconnected smart solutions across diverse industries and consumer groups. Such devices enhance indoor location-based services by giving more data for precise positioning, delivering smooth navigation and custom-made experiences within indoor settings. For example, a report published by the Health Sector Cybersecurity Coordination Center (HC3), a part of the US Department of Health and Human Services' (HHS) Cybersecurity Program, in August 2022, approximated that about 7 billion devices are connected via the Internet of Things (IoT) in 2022, and forecasts suggest significant growth with a projected arrangement of an additional 20 billion devices anticipated to utilize this technology by 2025. Therefore, the escalating usage of interconnected devices propels the indoor location-based services market's expansion.
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What growth opportunities are expected to drive the indoor location based services market's CAGR through 2034?
In recent times, the market size of indoor location based services has seen a quick expansion. The market is forecasted to increase from $14.74 billion in 2024 to $16.97 billion in 2025, experiencing a compound annual growth rate (CAGR) of 15.1%. The augmentation in the past can be credited to the surge in demand for indoor navigation, improved customer service, effective resource handling, and a growing need for indoor asset tracking.
Anticipations indicate an accelerated expansion in the indoor location based services market in the upcoming years. The market size is projected to escalate to $29.44 billion by 2029, advancing at a compound annual growth rate (CAGR) of 14.8%. This escalation within the prediction period is due to various factors such as the amplifying healthcare applications, the rise in sophisticated facility management, surge in smartphone usage, growing demand for location-based services in public locations, and the rise of intelligent buildings. The forecast period will see major trends such as integration with artificial intelligence and machine learning technologies, the use of indoor positioning systems, real-time location analytics, location-driven personalization, and adoption across various sectors.
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What are the emerging trends shaping the future of the indoor location based services market?
Key players in the indoor location-based services market are concentrating their efforts on the creation of innovative solutions like indoor positioning software for facility wayfinding, in order to establish a competitive advantage. Indoor positioning software for facility wayfinding are specific software solutions designed to assist users in navigating and orienting in complex indoor environments like airports, hospitals, shopping malls, and corporate campuses. To illustrate, ESRI, a US-based geographic information system (GIS) software company, introduced in July 2022 the ArcGIS IPS (Indoor Positioning Software), a state-of-theart solution capable of enabling indoor positioning and wayfinding within buildings and indoor spaces using ESRI's ArcGIS platform. ArcGIS IPS facilitates real-time indoor navigational capabilities, location tracking and sharing, data collection, and indoor analytics. ArcGIS IPS utilizes an array of indoor positioning technologies, including Wi-Fi, Bluetooth Low Energy (BLE), and other sensor-based technologies to accurately determine users' positions within buildings. With the integration of indoor maps, location data, and routing algorithms, ArcGIS IPS offers users real-time navigation and guidance akin to outdoor GPS navigation devices.
Which growth-oriented segments of the indoor location based services market are leading the industry's development?
The 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, Other Products
2) By Technology: Context Aware Technology, Observed Time Difference Of Arrival (OTDOA) And Enhanced Observed Time Difference Of Arrival (E-OTDOA), Radio Frequency Identification (RFID) And Near-Field Communication (NFC), Satellite, Microwave And Infrared Sensing, Other Technologies
3) By Application: Monitoring, Navigation, Proximity, Tracking, Other Applications
4) By End-Use: Aerospace And Defense, Banking, Financial Services and Insurance (BFSI), Information Technology (IT) And Telecommunication, Energy And Power, Government, Healthcare, Hospitality, Retail, Transportation And Logistics, Other End Uses
Subsegments:
1) By Analytics And Insights: Location Analytics, Traffic And Footfall Analytics, Customer Behavior Analytics
2) By Automotive Services: In-Car Navigation, Real-Time Traffic Information, Parking Assistance
3) By Campaign Management: Targeted marketing Campaigns, Campaign Performance Analytics, Audience Segmentation
4) By Consumer Services: Indoor Navigation, Proximity marketing, Location-Based Offers And Coupons
5) By Enterprise Services: Workforce Management, Asset Tracking, Facility Management
6) By Location And Alerts: Geo-Fencing, Real-Time Notifications, Safety Alerts
7) By Location-Based Advertising Services: Geo marketing, Location-Based Promotions, Personalized Advertisements
8) By Maps: Interactive Indoor Maps, Digital Wayfinding, Venue Mapping
9) By Precision Geo-Targeting: Real-Time Targeting, Location-Based Targeting, Hyperlocal marketing
10) By Other Products: Augmented Reality Navigation, Indoor Positioning Systems, Proximity Sensors
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What regions are leading the charge in the indoor location based services market?
North America was the largest region in the indoor location-based services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor location based services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the indoor location based services market?
Major companies operating in the indoor location based services market report are Apple Inc.; Alphabet Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation; Huawei Technologies Co. Ltd.; CenTrak; Siemens AG; International Business Machines Corporation (IBM); Cisco Systems Inc.; Qualcomm Technologies Inc.; Nokia Corporation; Ericsson AB; Baidu Inc.; CommScope Inc.; Zebra Technologies Corporation; Garmin Ltd.; Trimble Inc.; Environmental Systems Research institute (ESRI) Inc; TomTom N.V.; Telit Communications PLC; Foursquare Labs Inc.; Ubisense; HERE Technologies; YOOSE Pte. Ltd.; Aruba Networks Inc.; Invigor Group Limited; IndoorAtlas Oy; Navizone Limited
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What Is Covered In The Indoor Location Based Services Global Market Report?
•Market Size Forecast: Examine the indoor location based services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the indoor location based services market for a structured understanding.
•Key Players Overview: Analyze major players in the indoor location based services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the indoor location based services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the indoor location based services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the indoor location based services market.
•Industry Challenges: Identify potential risks and obstacles affecting the indoor location based services market.
•Competitive Landscape: Review strategic developments in the indoor location based services market, including expansions, agreements, and new product launches.
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