Enterprise Indoor Location-Based Services Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

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Overview and Scope

The enterprise indoor location-based services market consist of revenues earned by entities by providing services such as integration and API services, geofencing and proximity alerts, location-based analytics, location-based marketing, and emergency response and safety. The market value includes the value of related goods sold by the service provider or included within the service offering. The enterprise indoor location-based services market also includes sales of indoor positioning systems (IPS), indoor navigation solutions, and asset tracking systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast

The enterprise indoor location-based services market size has grown exponentially in recent years. It will grow from $0.66 billion in 2023 to $0.93 billion in 2024 at a compound annual growth rate (CAGR) of 40.7%. The growth in the historic period can be attributed to enhanced passenger comfort, demand for privacy and security, increased passenger traffic, increased focus on operational efficiency, and operational efficiency for airports.

The enterprise indoor location-based services market size is expected to see exponential growth in the next few years. It will grow to $3.67 billion in 2028 at a compound annual growth rate (CAGR) of 40.1%. The growth in the forecast period can be attributed to advancements in location-based technologies, adoption of Internet of Things (IoT) Devices, development of Industry 4.0, increasing indoor positioning using light, and growing usage of analytics for business process optimization. Major trends in the forecast period include adopting Internet of Things (IoT) devices, indoor positioning technologies, integrating smart building technologies, technological advancement, and increasing partnerships.

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Segmentation & Regional Insights

The enterprise indoor location-based services market covered in this report is segmented –

1) By Product: Analytics And Insights, Automotive Services, Campaign Management, Consumer Services, Enterprise Services, Location And Alerts, Location-Based Advertising Services, Maps, Precision Geo-Targeting
2) By Component: Hardware, Software, Services
3) By Application: Monitoring, Navigation, Proximity, Tracking, Other Applications

North America was the largest region in the enterprise indoor location-based services market in 2023. The regions covered in the enterprise indoor location-based services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing adoption of internet of things (IoT) devices is expected to drive the growth of the enterprise indoor location-based services market. Internet of things (IoT) devices are physical objects or devices embedded with sensors, software, and other technologies to connect and exchange data over the Internet or other networks without human intervention. The adoption of internet of things (IoT) devices is due to technological advancements, increasing connectivity options such as 5G, and expanding applications across industries. Enterprise indoor location-based services (LBS) leverage internet of things (IoT) devices to enhance operational efficiency, customer experience, and safety within indoor environments such as office buildings, warehouses, retail stores, and healthcare facilities. For instance, in January 2022, data from the GSM Association, a UK-based non-profit organization, global IoT connections are projected to reach 23.3 billion by 2025, up from 15.1 billion in 2021. Therefore, growing adoption of internet of things (IoT) devices drives the growth of the enterprise indoor location-based services market.

Key Industry Players

Major companies operating in the enterprise indoor location-based services market are Zebra Technologies Corporation, HPE Aruba Networking, Cisco Meraki, Geotab Inc., DecaWave Limited, Shopkick, Cisco DNA Spaces, Navigine, Ekahau, Ubisense, Pointr, Inpixon, IndoorAtlas Oy, Navizon Inc., Aisle411 Inc., Senion AB, Steerpath Oy, MazeMap AS, Infsoft GmbH, Airista Flow Inc., Locatify

The enterprise indoor location-based services market report table of contents includes:

1. Executive Summary
2. Enterprise Indoor Location-Based Services Market Characteristics
3. Enterprise Indoor Location-Based Services Market Trends And Strategies
4. Enterprise Indoor Location-Based Services Market – Macro Economic Scenario
5. Global Enterprise Indoor Location-Based Services Market Size and Growth
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32. Global Enterprise Indoor Location-Based Services Market Competitive Benchmarking
33. Global Enterprise Indoor Location-Based Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Enterprise Indoor Location-Based Services Market
35. Enterprise Indoor Location-Based Services Market Future Outlook and Potential Analysis
36. Appendix