Global Indoor LBS Market
Dublin, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The "Indoor LBS Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global indoor LBS market reached a value of US$ 10.7 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 34.0 Billion by 2027, exhibiting a CAGR of 21.25% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Indoor location-based services (LBS) refer to a technological solution that is used to track the location of an object or an individual inside an enclosed space. These solutions are confined to small geographical perimeters and operate through wireless networks, such as Wi-Fi, global positioning system (GPS), microelectronic mechanical system (MEMS) and wireless local area networks (WLAN). They also provide customized information to smartphone users depending upon their location, including mapping and navigation, in-store product search, Bluetooth-assisted proximity services and mobile payments. They find extensive applications across various industries, including aerospace, defense, healthcare, retail, hospitality and transportation.
Indoor LBS Market Industry Trends:
Rapid industrialization and urbanization across the globe are among the key factors driving the growth of the market. Significant infrastructure development and utilization of geospatial data in retail malls, recreational parks, educational institutes, commercial complexes and hospitals, are also providing a boost to the market growth.
Furthermore, the increasing penetration of connected devices, such as smartphones and tablets, along with the proliferation of social media platforms, is providing a boost to the market growth. These platforms aid marketers in conducting efficient geo-marketing by targeting potential customers through social check-ins and engaging with their audience by offering customized offers. Additionally, the increasing utilization of 5G technology for LBS is acting as another growth-inducing factor.
Indoor LBS provides enhanced assistance and security to the authorities for monitoring and tracking public activities. Other factors, including the widespread utilization of cloud computing, artificial intelligence (AI) and big data tools for business process optimization and determining the most efficient plan layout for implementing lean manufacturing tools and processes, are projected to drive the market further.
Key Market Segmentation: The publisher provides an analysis of the key trends in each sub-segment of the global indoor LBS market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on solution type, technology, application and vertical.
Breakup by Solution Type:
Analytics and Insights
Location and Alerts
Location-based Advertising Services
Secure Transactions and Redemptions
Breakup by Technology:
Context Aware Technology
OTDOA and E-OTDOA
RFID and NFC
Satellite, Microwave and Infrared Sensing
Others (Wi-Fi/WLAN, UWB, BT/BLE, Beacons, A-GPS, etc.)
Breakup by Application:
Breakup by Vertical:
Transportation and Logistics
Media and Entertainment
Healthcare and Life Sciences
Government and Public Buildings
Aerospace and Defense
Breakup by Region:
Middle East and Africa
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
5 Global Indoor LBS Market
6 Market Breakup by Solution Type
7 Market Breakup by Technology
8 Market Breakup by Application
9 Market Breakup by Vertical
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Competitive Landscape
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