The Micro Location Technology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Micro Location Technology Global Market Report 2024, The micro-location technology market size has grown rapidly in recent years. It will grow from $25.75 billion in 2023 to $30.46 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to augmented reality integration, emergence of indoor navigation, mobile device ubiquity, retail personalization trends, smart building solutions.
The micro-location technology market size is expected to see rapid growth in the next few years. It will grow to $55.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to industry 4.0 and logistics, smart cities initiatives, healthcare innovation, retail transformation, rising demand for indoor navigation, rapid advancements in it. Major trends in the forecast period include emerging use cases, edge computing and edge analytics, safety and security solutions, augmented reality (ar) integration, supply chain optimization.
The growing use of mobile devices is expected to propel the growth of the micro-location technology market going forward. A mobile device is a compact hand-held gadget with a touch-screen display and other capabilities. Mobile devices utilize micro location-based technology to determine the in-house location of any assets, persons, or other equipment. For instance, in February 2023, according to a report published by Us witch Limited, a UK-based online and telephone comparison, and switching service, 71.8 million mobile connections were active in 2022, which is an increase of 3.8% from 2021. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, the growing use of mobile devices is driving the growth of the micro-location technology market.
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The micro-location technology market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Bluetooth Low Energy, WiFi, Near Field Communication, Beacons, Other Technologies
3) By Application: Proximity Marketing, Asset Management
4) By End Use: Healthcare, Transportation and Logistics, BFSI, Sports and Entertainment, Commercial
Top Major Players:
- Ather Energy Private Limited
- Bike-energy GmbH
- Bikeep Inc.
- Flower Turbines Inc.
- Giulio Barbieri SRL
Asia-Pacific was the largest region in the micro-mobility charging infrastructure market share in 2023.
Product innovation is a key trend gaining popularity in micro-location technology. Major companies operating in the micro-location technology market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Smith Micro Software, Inc., a US-based company providing software solutions to wireless and cable service providers, launched Micro’s SafePath® 7 platform. The wireless carrier will offer its subscribers enhanced digital family safety functionalities such as powerful parental controls, real-time location services, and app evasion features. The SafePath platform includes SafePath Family, SafePath IoT, and SafePath Home provides comprehensive and simple-to-use capabilities for protecting digital lifestyles and managing connected devices through a single app.
The micro location technology market report table of contents includes:
1. Executive Summary
2. Micro-mobility Charging Infrastructure Market Characteristics
3. Micro-mobility Charging Infrastructure Market Trends And Strategies
4. Micro-mobility Charging Infrastructure Market – Macro Economic Scenario
5. Global Micro-mobility Charging Infrastructure Market Size and Growth
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26. South America Micro-mobility Charging Infrastructure Market
27. Brazil Micro-mobility Charging Infrastructure Market
28. Middle East Micro-mobility Charging Infrastructure Market
29. Africa Micro-mobility Charging Infrastructure Market
30. Micro-mobility Charging Infrastructure Market Competitive Landscape And Company Profiles
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