The indoor location market is projected to grow from USD 10.9 billion in 2023 to USD 29.8 billion by 2028, at a CAGR of 22.3% during the forecast period. The market providers are being encouraged to improve the capabilities of their indoor location hardware, systems, and software as a result of the growing need for location analytics.
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Based on offerings, the hardware segment to hold the largest market size during the forecast period.
The hardware segment includes beacons, sensors, tags, gateways, fixed readers, and Wi-Fi access points. A rise in the demand for BLE, sensors, and Wi-Fi technologies among users to determine the location within the building has influenced vendors to develop indoor location hardware. The satellite navigation system GPS has limitations for locating people or objects inside buildings due to signal loss. Emerging technologies like beacons and BLE could generate research data to create personalized, relevant, real-time experiences that lead to enhanced targeting and conversion. Companies such as Zebra Technologies, Inpixon, Cisco, Apple, infsoft, Ubisense, and Sonitor offer various indoor location hardware for customers with advanced technologies to track and locate people and objects and increase customer experience.
Based on technology, ultra-wideband is projected to register the highest CAGR during the forecast period.
UWB is an impulse, baseband, and carrier-free technology that transmits very low-duration pulses with a small power spectral density. It has an access range between 3.1 GHz and 10.6 GHz. This excessive bandwidth gives information rates for the conversion of data for decision-making. Infsoft offers an indoor tracking solution that helps manufacturers track goods with high accuracy so that it is possible to identify the exact shelf on a high rack on which the searched item can be found. The goods’ locations can be viewed on a digital map anytime. This, in turn, results in reduced search times, ideal warehousing, and efficient process management.
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The major vendors covered in the indoor location market include Zebra Technologies (US), Cisco (US), Google (US), Microsoft (US), HPE (US), Apple (US), Esri (US), Acuity Brands(US), Inpixon(US), HERE Technologies (US), HID Global (US), CenTrak (US), Sonitor (Norway), Ubisense (UK), infsoft (Germany), Polaris Wireless (US), Quuppa (Finland), Securitas Healthcare (US), Navigine (US), Blueiot (China), Kontakt.io (US), AiRISTA (US), InnerSpace (Canada), Syook (India), Oriient (Israel), Navenio (England), Situm (Spain), Pozyx (Belgium), Azitek (Portugal), and Mapxus (China). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, collaborations, and new product launches, to expand their presence in the indoor location market.
Google's product innovations help increase the use of its services, and the company is one of the most recognized brands in the world. Its core products and platforms include Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube, and each of them has over one billion active users every month. Google has built a platform in the cloud and invests in infrastructure, security, data management, analytics, and AI. The company's global clientele is spread across verticals, such as automotive, BFSI, retail and eCommerce, education, energy, engineering, entertainment, environment, food, beverage, government, healthcare, manufacturing, media, telecommunications and IT, transportation, and travel & hospitality. As more digital experiences are being built in the cloud, the company's cloud products focus on helping enterprises of all sizes take advantage of the latest technologies and efficiently run their businesses. Google invests in Android mobile OS, Chrome browser, Chrome OS, and Daydream Virtual Reality (VR) platforms. In the indoor location market, the company offers Google indoor map solution, enabling users to have a better navigation facility for buildings or indoor sites. Using its Tango 3D sensing computer vision technology, Google has worked on a detailed indoor location positioning service.
Microsoft develops software, services, devices, and solutions to compete in the era of the intelligent cloud. Microsoft helps its clients digitalize their business processes with increased investments in the mix-reality cloud. Cloud-based solutions from the business allow customers access to software, platforms, and content. Operating Systems (OS), cross-device productivity apps, servers, business solution apps, desktop and server administration tools, and video games are among its product offerings. The company develops tools and frameworks for its customers to support policy change based on three pillars: privacy, cybersecurity, and responsible AI. To improve its service offerings, it focuses on making investments in data centres and other hybrid and edge infrastructure. In the indoor location market, Microsoft offers the Path Guide solution that enables users to locate specific places in a building when the GPS signal is lost.
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