The global indoor location market size is expected to reach USD 42.34 billion by 2030 according to a new study by Polaris Market Research. The report “Indoor Location Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Solutions, Services), By Technology (BLE, UWB, Wi-Fi, RFID), By Application, By End-User; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The significant growth factors of the market consist of the proliferation of smartphones, IoT-connected devices, and locational-based applications among customers, along with the improved efficiency of GPS technology in the environment.
Based on the application segment, the remote monitoring segment is observing a leading share in the global industry. This is due to the increasing implementation of smartphone devices and remote monitoring applications to generate real-time tracking information on individuals and objects located indoors.
North America is projected to lead the industry in terms of revenue share worldwide, owing to consistent government support to incorporate digital solutions and services, along with the presence of technological infrastructure, industrial verticals, and industry vendors in the region.
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Indoor location industry participants such as AiRISTA, Acuity Brands, Apple, CenTrak, Azitek, Cisco, Esri, HERE, HID Global, Google, HPE, Infsoft, Inpixon, InnerSpace, Kontakt.io, Mapxus, Mist, Microsoft, Navenio, Navigine, Oriient, Pozyx, Polaris Wireless, Quuppa, SITUM, STANLEY Healthcare, Sonitor, Syook, Ubisense, and Zebra Technologies are some of the key players operating in the global market.
The leading companies are anticipated to focus on increasing their product portfolio and expanding by acquiring businesses and technology in order to establish a worldwide footprint in the untapped regions. For instance, in July 2021, U.S.-based Esri unveiled a new office within the premises of T-REX Geospatial Innovation Center, Missouri. Under the Esri Startup initiative, the company will offer startup companies unrestricted access to its ArcGIS Developers tools and services in the center.
Polaris Market Research has segmented the indoor location market report on the basis of component, technology, application, end-user, and region:
Indoor Location, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Indoor Location, Technology Outlook (Revenue - USD Billion, 2018 - 2030)
Indoor Location, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Indoor Location, End-User Outlook (Revenue - USD Billion, 2018 - 2030)
Indoor Location, Regional Outlook (Revenue - USD Billion, 2018 - 2030)