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Indoor Location Market Worth $3.9 Billion by 2019 - New Report by MarketsandMarkets(August 21, 2014)
(PRWEB) August 21, 2014
The report "Indoor Location Market by Positioning Systems (Network-based, Independent, Hybrid), Maps and Navigation, Location based analytics, Location based services, Monitoring and emergency services - Worldwide Market Forecasts and Analysis (2014 - 2019)" defines and segments the indoor location market into various sub-segments with an in-depth analysis and forecasting of revenues. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with global adoption trends, future growth potential, competitive outlook, and the best practices in this market.
Browse 103 market tables and 50 figures spread through 250 pages and in-depth TOC on "Indoor Location Market by Positioning Systems (Network-based, Independent, Hybrid), Maps and Navigation, Location based analytics, Location based services, Monitoring and emergency services - Worldwide Market Forecasts and Analysis (2014 - 2019)"
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The pressing needs from the end customers for location based services are playing the major role in defining the future of the indoor location market. 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.
MarketsandMarkets estimates that the global indoor location market is estimated to be $597 million in 2014 and is expected to grow to $3961.8 million by 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 46.0% from 2014 to 2019. In the current scenario, healthcare vertical continues to be the largest market segment for indoor location solutions amongst verticals. North America is expected to be the biggest market in terms of revenue contribution, while the European region is expected to experience increased market traction, in the due course.
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