MarketsandMarkets forecasts the global Indoor Location Market size to grow from USD 6.1 billion in 2020 to USD 17.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period. The major growth factors of the indoor location market are the increased number of applications powered by beacons and Bluetooth Low Energy (BLE) tags and growing integration of beacons in cameras; and Light Emitting Diode (LED) lightning, Point of Sales (PoS), and digital signage. The proliferation of smartphone connected devices and location-based applications is also expected to drive market growth.
In the type segment, non-biometrics segment to hold the largest market size during the forecast period
Non-biometrics identity verification solutions are used to verify documents, such as government IDs, passport, driving license, and credit or debit cards. The non-biometrics solutions are majorly used for remote customer onboarding, fraudulent ID detection, KYC/AML compliance, and business process automation. The introduction and integration of AI and ML technologies into identity verification solutions help organizations be proactive and make highly effective detection and remediation of suspicious activities and unauthorized and invasive access requests on an enterprise network. With the rapidly growing identity-based attacks and frauds, identity verification solutions are becoming essential. The non-biometrics solution segment is an essential part of identity verification solutions and is expected to witness a huge growth in the coming years.
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In deployment mode, cloud deployment to grow at a higher CAGR during the forecast period
Cloud-based identity verification solutions are not only enabling organizations to manage their costs but also helping them in improving business agility. It is the fastest-growing deployment model in the identity verification market. SMEs prefer cloud-based deployment, as it is cost-effective and easy to deploy. With the cloud-based deployment of these solutions, small enterprises can assess vulnerabilities and reduce threat landscape at a much lower cost, thus improving their customer services. The cloud-based platform offers a centralized way to verify identities. For organizations having strict budgets on security investments, cloud-based identity verification solutions are a good fit.
The major indoor location vendors include Zebra Technologies (US), Inpixon (US), Mist Systems (US), HID Global (US), Google (US), Microsoft (US), Apple (US), Cisco (US), HPE (US), Acuity Brands (US), Centrak (US), Sonitor (Norway), Ubisense (UK), infsoft (Germany), HERE (US), IndoorAtlas (Finland), STANLEY Healthcare (US), Midmark (US), Quuppa (Finland), AiRISTA Flow (US), InnerSpace (Canada), Esri (US), and Syook (India). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global indoor location market. Partnerships, new product launches, acquisitions, and product enhancements have been the dominating strategies adopted by the major players from 2018 to 2020, which has helped them innovate on their offerings and broaden their customer base.
Zebra Technologies (US) is known as a global provider for Enterprise Asset Intelligence (EAI) solutions specific to automatic identification and data capture applications. The company designs, manufactures, and sells a broad range of automatic identification and data capture products, including mobile computers, barcode scanners and imagers, Radio Frequency Identification (RFID) readers, specialty printers for barcode labeling and personal identification, Real-Time Location System (RTLS), related accessories and supplies, such as labels and other consumables, and software utilities and applications for industries, which include retail and eCommerce, transportation and logistics, manufacturing, healthcare, hospitality, warehouse and distribution, energy and utilities, government, public safety, and education enterprises. In April 2020 Saddle Creek Logistics Services, an omnichannel supply chain solutions and third-party logistics provider, selected the Zebra barcode scanning, mobile computing and barcode printing solutions to enhance worker productivity and increase customer satisfaction.
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Inpixon (US) specializes in capturing, interpreting, and giving context to indoor data for it to be translated into actionable intelligence. In August 2019, Inpixon acquired Jibestream, a premier provider of indoor mapping and location technology. The company’s business and government customers use its solutions to secure, digitize, and optimize their indoor spaces with positioning, mapping, and analytics products. Inpixon further offers various solutions and hardware for positioning, mapping, and analytics, such as sensors with proprietary technology, indoor mapping platform, and data science analytics. The company caters its products to different verticals, including retailers, shopping malls and shopping centers, hotels and resorts, gaming operators, airports, healthcare facilities, office buildings, and government agencies, to enhance security measures, offer better Business Intelligence (BI), increase consumer confidence, and reduce rogue device risk. Inpixon has two operating subsidiaries: Inpixon Canada (100% ownership) based in Coquitlam, British Columbia and Inpixon India Limited (82.5% ownership) based in Hyderabad, India. In 2020, the company is projected to focus on building the Inpixon Indoor Positioning Analytics (IPA) suite of solutions to enhance the company’s existing tag tracking solutions. In the indoor location market, the company offers Portable Sensors Kits (PSK), mapping solutions, which include IPA platform, Jibestream Indoor Location platform, and analytics solutions, such as Inpixon Analytics.
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