SAN FRANCISCO, November 21, 2018 /PRNewswire/ --
The global indoor LBS market size is expected
to reach USD 18.74 billion by 2025,
according to a new study by Grand View Research, Inc., rising at a
CAGR of 37.8% during the forecast period. Growing use of
location-based services in the retail industry for marketing
applications in expected to stimulate the growth of the market over
the forecast period.
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Industry players are increasingly striving towards providing
real-time location services to customers, which is expected to
stimulate market growth. Moreover, the use of 3D platforms to
provide real-time information is allowing companies to improve
their productivity. Indoor location-based services are also being
implemented for public safety, whereby individuals can inform
authorities about their location using their mobile devices.
Increasing penetration of mobile devices across various regions
is expected to propel the market. Regions, such as North America and Europe, where smartphone penetration has
surpassed 73.0%, are opening lucrative opportunities for companies
to promote their products or services via location alerts and push
messages on mobile devices. At the same time, developing regions,
such as Asia Pacific, are also
anticipated to fuel the demand for LBS for marketing
initiatives.
Growth in location-based services is expected to benefit the
retail industry. Retailers are using LBS to increase customer
engagement by providing customers with information about their
products and discounts whenever customers get in the vicinity of
retail store. Retailers are also using LBS to gain insights on
customers' response to a particular promotional initiative and to
tailor their marketing strategies accordingly.
There are several established as well as smaller players that
offer location-based services. Larger enterprises focus on
innovation and new product development whereas smaller companies
provide deployment solutions and product services.
Browse full research report with TOC on "Indoor
Location-based Services (LBS) Market Analysis Report By Product, By
Technology (RFID and NFC, Wi-Fi/WLAN and BT/BLE), By Application
(Tracking, Proximity, Navigation), By End Use, And Segment
Forecasts, 2018 - 2025"at:
https://www.grandviewresearch.com/industry-analysis/indoor-lbs-market
Further Key Findings From the Report Suggest:
- The RFID and NFC segment is expected to emerge as the fastest
growing technology segment, expanding at a CAGR of 42.1% over the
forecast period. The growth of the segment can be attributed to
rising prominence of wireless modes of communication
- North America accounted for
the largest market share in terms of revenue and is expected to
reach USD 7.65 billion by 2025.
Prominent players such as Microsoft Corporation and Google Inc.,
who hold expertise in location-based services, are based in
North America
- Proximity beacons are anticipated to emerge as the fastest
growing product segment, exhibiting a CAGR of 42.4% over the
forecast period. There are various types of beacons available, such
as Bluetooth beacons, Wi-Fi beacons, and ultrasound beacons
- Location-based services are expected to be largely adopted for
proximity and navigation applications owing to development of smart
cities. These services along with smart devices enable city
authorities to provide services such as location description and
route information
- Key industry participants include Apple Inc.; Cisco Systems
Inc.; GloPos Technologies; Google Inc.; HERE Holding Corporation;
Inside Secure Corporation; IndoorAtlas Ltd; Micello, Inc.;
Microsoft Corporation; Ruckus Wireless, Inc., Navizon Inc.;
Qualcomm Inc.; Shopkick, Inc., YOOSE Pte. Ltd., and Sprooki Pte
Ltd.
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Grand View Research has segmented the global indoor LBS
market based on products, technologies, applications, end use, and
regions:
- Indoor LBS Product Scope (Revenue, USD Million, 2014 -
2025)
- Analytics and Insights
- Automotive Services
- Campaign Management
- Consumer Services
- Enterprise Services
- Location and Alerts
- Location-based Advertising Services
- Maps
- Precision Geo-targeting
- Proximity Beacons
- Secure Transactions and Redemptions
- Indoor LBS Technology Scope (Revenue, USD Million, 2014 -
2025)
- Context Aware Technology
- OTDOA and E-OTDOA
- RFID and NFC
- Satellite, Microwave and Infrared Sensing
- Wi-Fi/WLAN, UWB, BT/BLE, Beacons, and A-GPS
- Indoor LBS Application Scope (Revenue, USD Million, 2014 -
2025)
- Monitoring
- Navigation
- Proximity
- Tracking
- Others
- Indoor LBS End-use Scope (Revenue, USD Million, 2014 -
2025)
- Aerospace and Defense
- BFSI
- IT and Telecommunication
- Energy and Power
- Government
- Healthcare
- Hospitality
- Retail
- Transportation & Logistics
- Others
- Indoor LBS Regional Scope (Revenue, USD Million, 2014 -
2025)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
(U.A.E.)
Explore the BI enabled intuitive market research
database, Grand View Compass, by Grand View Research,
Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company
provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant
and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com