MarketsandMarkets forecasts the global Indoor Location Market size to grow from USD 6.1 billion in 2020 to USD 17.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period. The major growth factors of the indoor location market are the increased number of applications powered by beacons and Bluetooth Low Energy (BLE) tags and growing integration of beacons in cameras; and Light Emitting Diode (LED) lightning, Point of Sales (PoS), and digital signage. The proliferation of smartphone connected devices and location-based applications is also expected to drive market growth.
Large enterprises segment to hold a larger market size during the forecast period
The indoor location market is segmented by organization size into large enterprises and Small and Medium-sized Enterprises (SMEs). The large enterprises segment is expected to have a larger market size during the forecast period, due to the increasing urge among organizations to adopt indoor location solutions and hardware to deliver better customer experience. Today, most organizations are in urge of adopting indoor location solutions and hardware to provide better navigation and tracking abilities for tracking people and objects indoor. Large education universities are deploying indoor positioning solutions that help directing visitors, students, and faculties to precise locations within the facility from their location outside, helping students reserve their participation for a conference, booking a chair/seat in the library, and checking the availability of a playground within the premises.
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By vertical, the transportation and logistics vertical to grow at the highest CAGR during the forecast period
The indoor location market by vertical is segmented into eight categories: transportation and logistics, travel and hospitality, entertainment, retail, government and public sectors, manufacturing, healthcare, and others (education, Banking, Financial Services, and Insurance [BFSI], and energy and utilities). The transportation and logistics vertical are expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the need to provide mobile support for travelers at railway stations and airports to guide them to the right place to locate stores and restaurants in airports and railways. Indoor location solution adoption helps the transportation industry to understand customer behavior and offer valuable information that could assist in building enhanced advertising campaigns, optimizing services, and selecting the right locations. Additionally, the adoption of indoor location solutions allows the transportation vertical to manage inventory effectively, save costs on audits, and track the missing equipment. The success of the transportation and logistics vertical depends on complex and frequent capital-intensive processes and operations. The logistics industry are facing challenges in terms of tracking the asset location in the warehouses. The need to track and identify asset locations to reduce wastage of time in asset location management to lead to the adoption of indoor location solutions across the logistic vertical. With the help of location analytics solutions, a firm can organize and understand all complex plans, enabling it to gain insights quickly and communicate with them effectively.
The major indoor location vendors include Zebra Technologies (US), Inpixon (US), Mist Systems (US), HID Global (US), Google (US), Microsoft (US), Apple (US), Cisco (US), HPE (US), Acuity Brands (US), Centrak (US), Sonitor (Norway), Ubisense (UK), infsoft (Germany), HERE (US), IndoorAtlas (Finland), STANLEY Healthcare (US), Midmark (US), Quuppa (Finland), AiRISTA Flow (US), InnerSpace (Canada), Esri (US), and Syook (India). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global indoor location market. Partnerships, new product launches, acquisitions, and product enhancements have been the dominating strategies adopted by the major players from 2018 to 2020, which has helped them innovate on their offerings and broaden their customer base.
Zebra Technologies (US) is known as a global provider for Enterprise Asset Intelligence (EAI) solutions specific to automatic identification and data capture applications. The company designs, manufactures, and sells a broad range of automatic identification and data capture products, including mobile computers, barcode scanners and imagers, Radio Frequency Identification (RFID) readers, specialty printers for barcode labeling and personal identification, Real-Time Location System (RTLS), related accessories and supplies, such as labels and other consumables, and software utilities and applications for industries, which include retail and eCommerce, transportation and logistics, manufacturing, healthcare, hospitality, warehouse and distribution, energy and utilities, government, public safety, and education enterprises. In April 2020 Saddle Creek Logistics Services, an omnichannel supply chain solutions and third-party logistics provider, selected the Zebra barcode scanning, mobile computing and barcode printing solutions to enhance worker productivity and increase customer satisfaction.
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Inpixon (US) specializes in capturing, interpreting, and giving context to indoor data for it to be translated into actionable intelligence. In August 2019, Inpixon acquired Jibestream, a premier provider of indoor mapping and location technology. The company’s business and government customers use its solutions to secure, digitize, and optimize their indoor spaces with positioning, mapping, and analytics products. Inpixon further offers various solutions and hardware for positioning, mapping, and analytics, such as sensors with proprietary technology, indoor mapping platform, and data science analytics. The company caters its products to different verticals, including retailers, shopping malls and shopping centers, hotels and resorts, gaming operators, airports, healthcare facilities, office buildings, and government agencies, to enhance security measures, offer better Business Intelligence (BI), increase consumer confidence, and reduce rogue device risk. Inpixon has two operating subsidiaries: Inpixon Canada (100% ownership) based in Coquitlam, British Columbia and Inpixon India Limited (82.5% ownership) based in Hyderabad, India. In 2020, the company is projected to focus on building the Inpixon Indoor Positioning Analytics (IPA) suite of solutions to enhance the company’s existing tag tracking solutions. In the indoor location market, the company offers Portable Sensors Kits (PSK), mapping solutions, which include IPA platform, Jibestream Indoor Location platform, and analytics solutions, such as Inpixon Analytics.
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