The micro-location technology market is projected to grow from USD 14.1 billion in 2019 to USD 34.1 billion by 2024 at a CAGR of 19.4%. Factors such as increasing importance of asset management across different industries, rise in the use of location-based mobile advertisement, high return on investment, growing adoption of mobile devices, and inefficiency of GPS in indoor premises are driving the market growth.
Key strategies implemented during 2015—2018 by major players include product launches and developments, partnerships, collaborations, and agreements. Cisco Systems, Zebra Technologies, Aruba Networks (HPE), Estimote, and Humatics have been among the prominent players to adopt these strategies.
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Cisco relies on technology innovation as a major growth strategy, along with focusing on acquisitions, particularly in high-end technologies. The company acquired Meraki in 2012 and invested in Mist Systems in 2016 to increase its presence in the micro-location technology market. Cisco Meraki is a leading wireless technology provider with a strong global presence and wide customer base. In September 2017, Cisco collaborated with Centurylink to introduce Business Wi-Fi integrated with Cisco Meraki cloud-managed Wi-Fi offering with real-time monitoring and analytics. This offering enables organizations to provide an improved experience to their employees and customers; they can leverage client- and location-based analytics to more effectively engage with their customers.
Aruba has the good financial backing of its parent organization. The company has been regularly modifying its solutions and engaging in technological partnerships with leading players such as Honeywell and Microsoft. It has a worldwide presence with clientele operating in various industries. Its WLAN deployment capabilities have enabled the company to devise its micro-location solutions, and it has amalgamated its IoT solutions with location-based services, depending on user requirements. The company has highlighted its products by demonstrating them in various trade shows and technology summits worldwide. In March 2018, HPE announced its plans to acquire a privately held company named Cape Networks, which will become a part of Aruba. The acquisition is expected to expand the AI-powered (i.e., Artificial Intelligence-powered) networking capabilities of Aruba with a sensor-based service assurance solution.
Micro-Location Technology Market by Application (Asset Management, Proximity Marketing), Technology (BLE, UWB, Wi-Fi, RFID), Offering, Vertical (Retail and Hospitality, Healthcare, Industrial, Transportation, Sports), & Geography - Global Forecast to 2024
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