Indoor location market worth $3.9 billion by 2019
MarketsandMarkets (www.marketsandmarkets.com) says the indoor location market will be worth US$3.9 billion by 2019. The pressing needs from the end customers for location based services are playing the major role in defining the future of the market, adds the research group.
The advent of hybrid positioning systems, location based analytics and real time tracking and navigation solutions are the products of huge demand for indoor location based products. Companies are putting sincere efforts in building customer specific products. Major players in this market are Apple, Broadcom, Cisco, Ericsson, Google, Nokia, Microsoft, Motorola, Qualcomm and Siemens.
MarketsandMarkets has segmented the global Indoor Location Market by type of software solutions: indoor maps and navigation and indoor location-based analytics; by type of positioning systems: network-based positioning, independent positioning, and hybrid positioning systems; by type of verticals: 'offices and commercial buildings', 'government, public safety and urban security', 'healthcare', 'travel and hospitality', 'aviation', 'academia and education', 'oil, gas and mining', 'manufacturing, distribution and logistics' and 'others'; by regions: North America (NA), Asia Pacific (APAC), Europe(EU), Middle East and Africa (MEA), and Latin America(LA).
The major forces driving this market are the increasing customer intimacy and venue-based marketing strategies, poor performance of GPS in indoor environments and the government initiatives in developing positioning system for public safety and urban security segment. Also, increasing demand for location-based services and application by smartphone users have given rise to the new business scenarios in this market. Indoor location providers look forward to gain better competitive advantage in this emerging market, thereby creating customizable new location-based applications that facilitate quicker customer adoption of the same, notes the research group.