Press release
Enterprise Indoor Location-Based Services Market Poised for 40.9 % Growth, Set to Hit $17.93 Billion by 2029
Enterprise Indoor Location-Based Services
The growing adoption of IoT (Internet of Things) devices is expected to drive the growth of the enterprise indoor location-based services market. IoT devices are physical objects embedded with sensors and software that can exchange data over the internet without human intervention. The adoption of IoT devices is expanding due to technological advancements and increased connectivity, such as 5G. Enterprise indoor location-based services (LBS) leverage IoT devices to improve operational efficiency, customer experience, and safety within indoor environments like offices, warehouses, and healthcare facilities. For instance, in April 2024, Ericsson reported that global IoT connections reached 15.7 billion in 2023 and are expected to grow to 38.8 billion by 2029. Therefore, the growing adoption of IoT devices is driving the growth of the enterprise indoor location-based services market.
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What is the projected compound annual growth rate (CAGR) of the enterprise indoor location-based services market from 2025 to 2034, and what factors influence it?
The enterprise indoor location-based services market has grown rapidly in recent years. It will grow from $0.93 billion in 2024 to $1.31 billion in 2025, at a CAGR of 41.2%. The growth is attributed to the demand for privacy and security, improved passenger comfort, higher passenger traffic, a focus on operational efficiency, and the need for better operational systems at airports.
The enterprise indoor location-based services market is expected to grow substantially, reaching $5.17 billion by 2029 at a CAGR of 40.9%. Growth drivers include advancements in location-based technologies, IoT device adoption, Industry 4.0 development, light-based indoor positioning, and analytics use in business optimization. Trends include IoT device adoption, smart building technologies, and increased partnerships.
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How are the latest trends influencing the growth of the enterprise indoor location-based services market?
In the enterprise indoor location-based services market, companies are focused on creating innovative solutions such as geolocation platforms that deliver real-time navigation, even in tall buildings. For example, in February 2023, Radisys Corporation launched the Radisys ReachPoint platform, which uses smart networks to provide precise indoor navigation, helping users find locations within complex office spaces without relying on GPS, using geospatial data from Wi-Fi nodes and cell towers.
What are the major segments of the enterprise indoor location-based services market and their role in driving growth?
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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What regions are leading the charge in the enterprise indoor location-based services market?
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.
Who are the key firms paving the way for growth in the enterprise indoor location-based services market?
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
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What Is Covered In The Enterprise Indoor Location-Based Services Global Market Report?
•Market Size Forecast: Examine the enterprise indoor location-based services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the enterprise indoor location-based services market for a structured understanding.
•Key Players Overview: Analyze major players in the enterprise 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 enterprise indoor location-based services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the enterprise indoor location-based services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the enterprise indoor location-based services market.
•Industry Challenges: Identify potential risks and obstacles affecting the enterprise indoor location-based services market.
•Competitive Landscape: Review strategic developments in the enterprise indoor location-based services market, including expansions, agreements, and new product launches.
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