The global Indoor Location Market size to grow from USD 7.0 billion in 2021 to USD 19.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.9% during the forecast period. Various factors such as the increasing number of applications powered by beacons and BLE tags; the growing integration of beacons in cameras, LED lightings, Point of Sale (PoS) devices, and digital signage; the proliferation of smartphones, connected devices, and location-based app among customers and the inefficiency of the GPS technology in the indoor environment are driving the adoption of the Indoor location market across the globe.
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The COVID-19 pandemic has affected the indoor location market, but companies are still leveraging indoor location solutions and hardware for facility management, virus tracking, people tracking and management, and smart quarantining. Governments and private companies across verticals are adopting indoor location solutions to keep citizens indoors and to track them. For instance, Inpixon is offering its location-based technology applications and services without additional costs or at reduced rates (depending on the solution) to healthcare providers and other organizations that are looking for solutions to assist in controlling the spread of COVID-19 or in managing the impact of the pandemic to ensure the safety and well-being of citizens. Quarantine and other enforced measures are intended to save lives by containing the spread of the virus. Once these restrictions are lifted, the pressure to restart business operations will increase. This, in turn, would bring along the risk of a COVID-19-positive employee introducing the virus to the workplace, thus increasing the risk of infecting the workforce, endangering lives, and placing businesses under quarantine again. Vendorsare is projected to offer smart quaranting solutions consulting to businesses. For instance, Sewio, a company based in Czechia, offers UWB RTLS solutions, is providing free consulting and software licenses to companies to help them install employee tracking technology and enable smart quarantining.
The services segment to hold higher CAGR during the forecast period
Based on components, the Indoor location market is segmented into hardware, solutions and services. The services segment has been further divided into professional and managed services. These services are essential for the successful operation of indoor positioning and tracking of people and assets. The overall cost of the indoor location technology installation depends on the complexity of the application and the type of technology used. It comprises hardware, software, and middleware, and services cost.
According to Infsoft, an indoor location/positioning system enables locating the position of objects or people within buildings. Since Global Positioning System (GPS) is unreliable in interior spaces due to no visual contact with GPS satellites, an Indoor Positioning System (IPS) must use other positioning methods. Indoor location or indoor positioning technology facilitates the navigation and tracking of objects and people in a building using sensory information captured by mobile devices. It includes hardware, software, and service components to provide indoor location services to a wide variety of organizations across verticals. Indoor location solutions may collect location data using Radio Frequency (RF), Visible Light Communication (VLC), Sound Navigation and Ranging (Sonar), Light Detection and Ranging (Lidar), or any technology or a combination of technologies.
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Some of the key players operating in the Indoor location market include Zebra Technologies (US), Inpixon (US), Mist (US), HID Global (US), Google (US), Microsoft (US), Apple (US), Cisco (US), HPE (US), Acuity Brands (US), Esri (US), CenTrak (US), Sonitor (Norway), Ubisense (UK), infsoft (Germany), Polaris Wireless (US), HERE (US), STANLEY Healthcare (US), Quuppa (Finland), Navigine (US), Kontakt.io (US), AiRISTA (US), InnerSpace (Canada), Syook (India), Oriient (Israel), Navenio (England), SITUM (Spain), Pozyx (Belgium), Azitek (Portugal), and Mapxus (Japan). These Indoor location vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global Indoor location market.
Zebra Technologies (US) is a key player in the indoor location market. The company is focused on R&D, sales and marketing, and customer support. It is also quick to adopt emerging technologies that could satisfy users demand, increase the quality and reliability of product, and develop an efficient distribution network. Zebra Technologies, with its continuous investments for the launch of new RFID solutions, would enable retailers to enhance their customer experiences. With the recent outbreak of the COVID-19 pandemic, the company donated its technology to support front-line workers in the Huoshenshan and Shenzhen University General Hospitals. It further has a strong presence of product offerings across North America; Europe, Middle East and Africa (EMEA); APAC, and Latin America for vendors across industries, including retail and eCommerce, transportation and logistics, manufacturing, and healthcare and life sciences. Zebra Technologies offers innovative location solutions and a wide range of indoor location technologies to locate, track, manage, and maximize the utilization of high-value assets, equipment, and people. The company offers solutions, such as Zebra MotionWorks RTLS Solutions, Zebra SmartLens for Retail Asset Visibility, Location Technologies, Zebra Savanna, Ultra-Wideband, WhereNet, Zebra Bluetooth Low Energy Devices, Fixed RFID Tag Readers, RFID Fixed Combination Reader Antennas, RFID Labels, and software, such as Zebra Location Software and RFID Reader Software.
Inpixon (US) contributes significantly to the market share as it is focused on building and developing its business as a provider of end-to-end solutions. The solution ranges from the collection of data to delivering insights from that data to customers, with the aim of securing, digitizing, and optimizing premises with indoor positioning, mapping, and analytics solutions for businesses and governments. Inpixon offers Portable Sensors Kits (PSK), mapping solutions, which include IPA platform, Jibestream Indoor Location platform, and analytics solutions, such as Inpixon Analytics. The company has a goal, for future product roadmap development plans, which include expanding the use of UWB technology for asset tracking, taking forward its efforts toward a voice-assisted analytics interface, understanding the worldwide deployment of the 5G technology, and enhancing its positioning capabilities to offer a ‘blue dot’ experience. The company has strong product offerings across North America and APAC for vendors across industries, including government, real estate, retail and eCommerce, hospitality, healthcare and life sciences, transportation, BFSI, and manufacturing.
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