LONDON, Nov. 7, 2016 /PRNewswire/ --
"The increasing use of smartphone and need of navigation technology is driving the virtual customer premises equipment indoor location market"
The Indoor location market size is estimated to grow from USD 4.72 billion in 2016 to USD 23.13 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 37.4% from 2016 to 2021. The growing trend of digitalization, usage of smartphones with innovative mobile applications, mobile commerce, and technological enhancements in smartphones and tablets have enabled fast and improved shopping experiences for customers at malls and stores. It has been seen that many users use their handsets to obtain real-time location-based information. Moreover, they often use geo-social services to share their geographic location among friends. Therefore, a surge in the growth of the location-based services market is expected because of the increased penetration of smartphones. However, lack of awareness about the use of indoor location & deployment and maintenance challenges are restricting the growth of the indoor location market.
"Entertainment industry is expected to gain maximum traction during the forecast period"
The entertainment verticals include museums, casinos, theme parks, and sports arenas. In the competitive space where businesses follow the sophisticated strategy of maximizing revenue-generating opportunities, location-based solutions are provided based on individual preference, which is mapped via indoor location apps.
"Asia-Pacific (APAC) is projected to grow at the highest rate during the forecast period"
Americas is expected to hold the largest market share during the forecast period. It is one of the most developed regions in the whole world, and is inclined towards innovation and state of art infrastructure. Americas is the prime revenue generating region in the indoor location market. The market is expected to grow rapidly in the next few years. The increase in location-enabled smart phones and tablets are the key driving factors for advance growth. The American region can be further divided into U.S., Canada, and Mexico. U.S. holds the maximum share in this region. This has been possible through the innovations obtained from R&D and technology. Moreover, the APAC region is expected to experience extensive growth opportunities in the next few years. The existence of large population, developing technology, and affluence are the major contributing factors to the growth of indoor location in this region. The usage of mobile and internet is widely being used as a major means for connectivity.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The Break-up profile of primary participants is as follows:
- By Company: Tier 1 – 50 %, Tier 2 – 22% and Tier 3 – 28%
- By Designation: C level – 68%, Director level – 32%
- By Region: North America – 62%, Europe – 25%, APAC – 15%
The indoor location ecosystem comprises the following major vendors:
1. Apple Inc. (California, U.S.)
2. Cisco System Inc. (California, U.S.)
3. Google Inc. (California, U.S.)
4. Microsoft Corporation (Washington, U.S.)
5. Qualcomm Technologies Inc. (California, U.S.)
6. Broadcom Ltd. (California, U.S.)
7. Ericsson (Stockholm, Sweden)
8. Zebra Technologies (Illinois, U.S.)
9. SenionLab AB (Linköping, Sweden)
10. STMicroelectronics N.V. (Geneva, Switzerland).
The main objective of this report is to define, describe, and forecast the indoor location market which is segmented on the basis of technologies, software tools, services, application, end users, and regions. The technology segment includes Radio Frequency (RF)-based, and sensor & tag-based; the software tools segment includes visualization, location analytics, and context accelerator, and the service segment comprises of professional services & managed services. The application segment is further segmented into risk management, emergency response management, marketing & customer experience management, remote monitoring, predictive asset analytics, and inventory management, and the end user segment includes transportation, hospitality, entertainment, shopping, and public building. The report attempts to forecast the market size with respect to five main regions, namely, the Americas, Europe, APAC, and the Rest of the World (RoW).
Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the indoor location market comprehensively and provides the closest approximations of the revenue numbers for the overall market, and the subsegments across the different end users & regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, newproduct develpoments, partnerships, and mergers & acquisitions.
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