The global indoor location market is expected to garner a market value of USD 8,494.4 million in 2023. It is expected to accumulate a market value of USD 32,708.0 million by 2033 and register a CAGR of 14.4% from 2023 to 2033.
The growth of the indoor location market can be attributed to advancements in technology to trace objects or humans in indoor locations. The market for indoor locations registered a CAGR of 12.3% in the historical period.
| Data Points | Key Statistics |
|---|---|
| Indoor Location Market Value (2023) | USD 8,494.4 million |
| Indoor Location Market Value (2033) | USD 32,708.0 million |
| Indoor Location Market CAGR (2023 to 2033) | 14.4% CAGR |
An indoor location is a system used to locate people or objects inside a building with the help of radio waves, acoustic signals, magnetic fields, and other sensory information collected through mobile devices. Indoor location is used for tracking any object present indoors, known as indoor localization.
The global indoor location market is expected to garner a market value of USD 8,494.4 million in 2023. It is expected to accumulate a market value of USD 32,708.0 million by 2033 and register a CAGR of 14.4% from 2023 to 2033.
The growth of the indoor location market can be attributed to advancements in technology to trace objects or humans in indoor locations. The market for indoor locations registered a CAGR of 12.3% in the historical period.
| Data Points | Key Statistics |
|---|---|
| Indoor Location Market Value (2023) | USD 8,494.4 million |
| Indoor Location Market Value (2033) | USD 32,708.0 million |
| Indoor Location Market CAGR (2023 to 2033) | 14.4% CAGR |
An indoor location is a system used to locate people or objects inside a building with the help of radio waves, acoustic signals, magnetic fields, and other sensory information collected through mobile devices. Indoor location is used for tracking any object present indoors, known as indoor localization.
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The global demand for indoor locations is projected to increase at a CAGR of 14.4% during the forecast period, reaching a total of USD 32,708.0 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, the market recorded a significant growth of 12.3%.
The use of indoor navigation is becoming prominent across various end-user industries. The need for tracing objects, humans, and pathways has become evident. In addition, the use of IoT devices is expected to bolster the growth of indoor location systems in the upcoming years.
Furthermore, indoor location technology has helped retailers enhance their user experiences and provide proper navigation for objects or any locations. Indoor location solutions allow organizations to connect customers inside large indoor spaces with their brands, products, and partners, providing them with different ways to increase customer relationships and sales.
The proliferation of various technologies, such as BLE and Wi-Fi, enables users to detect a person’s location within a specific range.
Usage of Smartphones and IoT Devices Bolstering the Use of Indoor Location Systems
The key factors driving the growth of the indoor location market are consistent support to governments for confirming public safety, increased usage of smartphones, and inadequacy of GPS technology in indoor locations. Moreover, the rising use of smartphones with innovative mobile applications, mobile commerce, the trend of digitalization, and technological advancements are boosting the growth of the indoor location market.
Government investment has improved positioning technology for the urban security segment, and public safety is enhancing the demand for indoor location solutions in the market.
Stringent Rules Regarding Privacy and Data Collection Restraining Market Growth
Stringent rules and regulations pose one of the crucial challenges to the growth of the indoor location market. Government rules and regulations, such as the World Wide Web Consortium (W3C), Open Geospatial Consortium, and Health Insurance Portability and Accountability Act (HIPAA), restrict the data collection, sharing, and use of location-based information.
Countries across the globe prioritize the security and privacy of their citizens, which leads to the implementation of regulations that restrict the use of location-based information. Thus, these factors are restraining the growth of the indoor location market.
Global Market Share in 2022
| Countries | CAGR |
|---|---|
| United States | 19.4% |
| Germany | 10.4% |
| Japan | 2.4% |
| Australia | 1.7% |
Increasing Use of Proximity-based Solutions in the Retail Sector Bolstering Growth
North America is experiencing a rapid increase in the adoption of indoor locations as the demand for customized indoor location solutions, owing to the increasing use of proximity-based solutions in the retail sector, is rising at a faster pace.
The North American region continues to account for a significant share of the overall indoor location market due to the usage of mobile media by enterprises for promoting services and products and the increasing adoption of location-enabled searches by individual users. North America possesses a 27.6% market share for the indoor location market through 2033.
Development of Commercial and Residential Sectors Propelling the Growth
The indoor location market for Europe is also expected to witness steady growth during the forecast period, primarily attributed to the growth of indoor location technologies coupled with demand for customization in offerings, especially in Germany and Italy.
In addition, the rapid development of commercial and residential sectors is positively influencing the use of indoor locations. Thus, Europe held a 23.7% market share for the indoor location market in 2022.
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Shifting Technological Developments Positively Influencing Market Growth
Professional services are crucial and comprise solutions offered by the service providers to increase the awareness and growth of indoor location solutions and technology for attracting customers to stores and navigation.
In terms of the indoor location services segment, this segment accounts for a high adoption rate in the overall indoor location market owing to its requirement to flow with shifting technology that can be used for advanced development in the market. Thus, by service type, professional services are expected to hold 34.6% of the market share for the indoor location market.
Asset Tracking in RF-based Indoor Locations to Guide Indoor Location Market's Growth
RF-based indoor locations utilize the wireless signals emitted by Wi-Fi access points, Bluetooth beacons, and other RF sources to triangulate positions. RF-based indoor locations find applications in wayfinding and navigation, asset tracking, and retail analytics.
RF-based systems guide users to track the movement of assets and inventory in spaces like warehouses and storage facilities.
RF-based systems and other technologies offer advanced accuracy and coverage, such as sensor fusion and dead reckoning. Therefore, RF-based indoor location systems are anticipated to dominate revenue in the forecast period, holding a share of 42.3% through 2033.
Key players in the indoor location market are SIRL, IIWARI, Arara, Invento Robotics, and ARWAY.
Key players in the indoor location market are Apple Inc., Broadcom Corporation, CISCO Systems Inc., Ericsson, Google Inc., Microsoft Corporation, Motorola Solutions, Nokia Corporation, STMicroelectronics N.V., Qualcomm, and Others.
Recent Developments
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 8,494.4 million |
| Market Value in 2033 | USD 32,708.0 million |
| Growth Rate | CAGR of 14.4% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Service, Technology, Software Tools, End Use, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; The Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Apple Inc.; Broadcom Corporation; CISCO Systems Inc.; Ericsson; Google Inc.; Microsoft Corporation; Motorola Solutions; Nokia Corporation; STMicroelectronics N.V.; Qualcomm; Zebra Technologies |
| Customization | Available Upon Request |
The indoor location market is expected to accumulate a market value of USD 32,708.0 million by 2033 and register a CAGR of 14.4% from 2023 to 2033.
Some of the key indoor location market players are Cisco Systems, Inc., Google LLC, Apple Inc., and Microsoft Corporation.
Wi-Fi-based indoor location systems are likely to remain preferred through 2033.
The Players opt for partnerships and collaborations.
India, Japan, and China dominate the Asian market.
| Market Value (2023) | USD 5,006.7 million |
|---|---|
| Market Value (2033) | USD 11,672.4 million |
| Projected Growth Rate (2033) | 8.8% |
| Market Share (2023) | USD 88.1 billion |
|---|---|
| Market Share (2033) | USD 153.0 billion |
| Market CAGR (2023 to 2033) | 5.7% |
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