New Product Developments, Acquisitions, Partnerships, and Business Expansions, to Increase Foot Prints in the Indoor Location Market
Indoor Location market includes technology, software tools, and service providers. Indoor location uses different technology such as Radio Frequency (RF), sensors and tag-based, satellite/remote sensing, and microwave. Organizations are installing indoor location technology at various indoor premises such as malls, retail shops, tunnels, stadiums, and government offices. Indoor location technology is used for various applications such as remote monitoring, inventory management, risk management, emergency response management, sales and marketing optimization, and supply chain optimization. Indoor location technology is deployed on-cloud and on-premises for the users. Indoor location have a range of use cases in different verticals, such as transportation, hospitality, entertainment, retail, public buildings, and others (Banking, Financial Services, and Insurance (BFSI), manufacturing, oil, and mining). The indoor location market has been segmented on the basis of components (technology, software tools, and services), deployment modes, applications, verticals, and regions. MarketsandMarkets forecasts that the global indoor location market is expected to grow from USD 7,109.0 million in 2017 to USD 40,992.8 million by 2022, at a Compound Annual Growth Rate (CAGR) of 42.0% during forecast period. Increasing number of connected devices across globe and inefficiency of GPS technology to reach indoor premises are boosting the growth of the indoor location market across the globe.
The key players in the indoor location market include Apple (US), Broadcom (US), Ericsson (Sweden), GeoMoby (Australia), Google (US), Micello (US), Microsoft (US), Qualcomm (US), Senion (Sweden), STMicroelectronics (Switzerland), and ZIP Corp (US). These players have adopted various strategies, such as new product developments, acquisitions, partnerships, and business expansions, to increase foot prints in the indoor location market.
Microsoft is one of the leading vendors in the indoor location market. The company offers Path Guide, an android app which enables indoor navigation services without any extra hardware. The app is very interactive and works on inputs provided by the user. In September 2017, Microsoft partnered with Carto, which offers location intelligence for behavioral marketing. The partnership is expected to deliver indoor location analytics intelligence solutions for enterprises.
Google offers Indoor Google Maps to the indoor location which are accurate, faster, convenient, and easily accessible via various types of devices. In May 2017, Google formed a partnership with Matterport, a media technology company. The partnership helped bring about the 3D street view perspective indoors.
Related Reports:
Indoor Location Market by Component (Technology, Software Tools, and Services), Deployment Mode (Cloud, and On-premises), Application, Vertical (Transportation, Hospitality, Entertainment, Retail, and Public Buildings), and Region - Global Forecast to 2022
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