Global Indoor Location Market – Industry Trends and Forecasts

Indoor location market

The indoor location market will reach an estimated value of USD 357.80 billion and grow at a CAGR of 40.05% during the forecast period from 2021 to 2028. The growing inefficiency of GPS technology in indoor premises is a key factor in the indoor location market.

Indoor location deals with tracking an object present in an indoor location. To track these objects, an indoor positioning system or IPS technology is used, which can help locate humans or any object inside an organization using signals. It is widely applicable in retail, transportation, entertainment, hospitality, public buildings and others.

Increasing reliable assistance from governments to ensure public safety is a crucial factor in accelerating the growth of the market, along with increasing number of applications powered by beacons and BLE beacons, increasing integration of beacons in cameras, LED lights, point-of-sale devices and digital signage, the increasing proliferation of smartphones, connected devices and location-based applications among customers and the growing inefficiency of GPS in an indoor environment are the main factors, among others, that are driving the indoor location market. Additionally, the growing demand for RFID tags in the retail sector, growing demand for indoor location technologies to support lean automation and robotic processes, and increasing research and development activities in the market will create new opportunities for the indoor location market during the forecast period mentioned above.

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