Indoor LBS Market (Updated Version Available)
Indoor LBS Market Size, Share & Trends Analysis, By Product (Analytics and Insights, Location-based Advertising Services, Proximity Beacons, Maps, Consumer Services, Location and Alerts, and Others), Technology (RFID and NFC, Wi-Fi/WLAN, OTDOA and E-OTDOA, Satellite, Microwave and Infrared Sensing, BT/BLE, and Others), Application (Monitoring, Tracking, Proximity, Navigation, and Others), End-User (Retail, BFSI, Healthcare, Government, Hospitality, and Others), By Region, Forecast Period 2023 - 2030
Report ID : RI_637489 | Date : April 2023 |
Format : 
Key Market Overview:
Indoor LBS Market is estimated to reach over USD 37.22 Billion by 2030 from a value of USD 9.00 Billion in 2022, growing at a CAGR of 19.42% from 2023 to 2030.
Indoor Location-Based Services (LBS) refer to location-based services that are provided within indoor environments such as malls, airports, hospitals, and other large buildings. Indoor LBS enables users to navigate through indoor spaces, locate nearby amenities, and receive location-based promotions and offers. Indoor LBS typically rely on a combination of technologies such as Wi-Fi, Bluetooth, GPS, and indoor positioning systems (IPS) to determine the users location within a building.
The widespread adoption of smartphones and other mobile devices has created a large market for indoor LBS. Indoor LBS are used to access location-based services and provide real-time navigation within indoor environments. As a result, businesses are increasingly using location-based marketing techniques to engage with customers and promote their products and services. For instance, in January 2023, HERE Technologies partnered with Amazon Web Services (AWS) to provide customers with improved indoor and outdoor positioning capabilities. Therefore, the demand for location-based services in shopping malls, airports, and hospitals is driving the growth of Indoor LBS market.
Indoor LBS Report Coverage:
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Market Dynamics:
Driver:
The growing demand for location-based marketing (LBM) is driving the growth of the Indoor LBS market. Indoor LBS help businesses to deliver targeted, location-based marketing messages to customers while they are inside a store or other indoor space. Moreover, Indoor LBS provides businesses with valuable insights into customer behavior and preferences. Therefore, businesses gain a better understanding of their customer\'s movements, interests, and behaviors, and use this information to optimize their marketing campaigns and improve their overall customer experience. For instance, in March 2022, Aruba Networks launched the Aruba Edge Services Platform (ESP) designed to simplify and automate the deployment and protection of edge-to-cloud networks. The platform provides a range of services, including wired and wireless connectivity, security, analytics, and assurance delivered as a service from the cloud.
Restraint:
The application of indoor LBS technology raises concerns about privacy and data protection, limiting the growth of the indoor LBS market. Customers are aware of the potential risks associated with the collection and use of their personal data, such as identity theft or financial fraud. Therefore, customers are concerned about how their personal data is being collected, used, and shared by businesses making customers hesitant to adopt indoor location-based services.
Opportunities:
The integration of indoor LBS technology with other emerging technologies, such as IoT, AI, and AR/VR is expected to drive the market\'s growth during the forecast period. Such integration is expected to provide potential opportunities for businesses to collect and analyze data from a range of sources, providing them with valuable insights into customer behavior and preferences. For instance, AR/VR technology is expected to create immersive experiences that engage and delight customers.
Indoor LBS Market Competitive Landscape:
The market for Indoor LVS is highly competitive. The key market players are adopting strategies for mergers and acquisitions, and product innovations to stay competitive in the market. Following are the major market players that comprise the latest market concentration–
• Cisco Systems Inc.
• IndoorAtlas Ltd
• Hewlett Packard Enterprise Development LP
• GloPos Technologies
• Google LLC
• Apple Inc.
• Micello Inc.
• Microsoft Corporation
• Navizon Inc.
• Ruckus Wireless
• YOOSE Pte. Ltd.
Recent Developments:
• In March 2023, Hewlett Packard Enterprise (HPE) announced its acquisition of Axis Security that enables secure remote access to enterprise applications and data, without the need for VPNs or network changes.
• In November 2022, London Business School launched forever forward campaign to attract students and promote greater diversity in the business world.
Indoor LBS Market Segmentation:
By Product
Based on the product, the market is segmented into analytics and insights, location-based advertising services, proximity beacons, maps, consumer services, location and alerts, and others. Location-based advertising services segment accounted for the largest revenue share in the year 2022. Location-based advertising services enable businesses to deliver highly personalized advertising messages to customers based on their location. As a result, businesses are able to target customers in close proximity to their store or venue thereby boosting the marketing strategy.
The proximity beacons segment is expected to emerge as the fastest-growing segment during the forecast period. Proximity beacons are a cost-effective way for businesses to deliver targeted messages to customers. In addition, proximity beacons offer greater precision in targeting, allowing businesses to avoid unnecessary advertising expenses by reaching out to customers willing to enter the store.
By Technology
Based on the technology, the market is segregated into RFID and NFC, Wi-Fi/WLAN, OTDOA and E-OTDOA, satellite, microwave and infrared sensing, BT/BLE, and others. The Wi-Fi/WLAN segment dominates the global market as it is an accurate and cost-effective way to deliver indoor LBS services. Wi-Fi/WLAN technology provides accurate location information in indoor environments when combined with other positioning technologies such as Bluetooth. Furthermore, Wi-Fi/WLAN networks are already in place in many indoor environments. Therefore, the ease and convenience of deploying indoor LBS systems based on Wi-Fi/WLAN technology have contributed to the growth of this segment. The Wi-Fi/WLAN segment is also expected to grow during the forecast period due to its widespread adoption in retail, BFSI, and the healthcare industry. Wi-Fi/WLAN technology is widely available in most indoor environments, making it a popular choice for indoor positioning and navigation.
By Application
Based on the application, the market is divided into monitoring, tracking, proximity, navigation, and others. The tracking segment dominates the global market and accounts for the largest revenue share in the year 2022. Businesses are using indoor LBS technology to track their assets, such as equipment, vehicles, and inventory, within indoor environments. Moreover, businesses use indoor LBS technology to track the location and movements of their employees within indoor environments helping them to improve operational efficiency, reduce costs, and enhance overall business performance. For instance, in February 2023, HERE Technologies and Cognizant announced a collaboration to provide location insights and analytics for global businesses. The collaboration creates customized location-based solutions for businesses across various industries, including retail, healthcare, and transportation.
The proximity segment is anticipated to witness the fastest CAGR growth during the forecast period. Proximity-based LBS solutions enable businesses to deliver personalized experiences to their customers based on their location within an indoor space. Moreover, the COVID-19 pandemic has accelerated the adoption of proximity-based LBS solutions as businesses look for ways to provide touchless, contactless, and socially distant experiences to their customers.
By End-User
Based on the end-user, the market is segmented into retail, BFSI, healthcare, government, hospitality, and others. The retail industry dominates the indoor LBS market as it enables retailers to deliver personalized experiences to their customers. Proximity-based LBS solutions are widely used in retail, providing customers with relevant offers and recommendations based on their location within the store. Moreover, indoor LBS solutions help retailers to improve their operational efficiency by optimizing staff scheduling, inventory management, and supply chain operations further growing the demand for LBS solutions in the retail industry.
The BFSI segment is expected to grow during the forecast period. Indoor LBS solutions help banks and financial institutions to optimize their operations and increase efficiency. As a result, banks are able to guide their customers to specific branches and provide them with location-based information and services. For instance, in November 2022, BankiFi and MX announced a partnership to enable data analytics and insights for financial institutions serving small and medium-sized business customers.
By Region
North America accounted for the largest revenue share in the year 2022. North America has a high adoption rate of advanced technologies such as smartphones, IoT devices, and cloud computing providing a strong foundation for indoor LBS solutions. Therefore, the widespread availability of these technologies allows businesses to leverage indoor LBS solutions to enhance their operations and customer experiences. Furthermore, the presence of leading market players such as Cisco Systems, and Google LLC in the region is driving the growth of the regional market.
Asia-Pacific is anticipated to register the fastest CAGR growth during the forecast period. The e-commerce industry is growing rapidly in the Asia-Pacific region, and indoor LBS solutions help retailers to provide personalized and efficient delivery services. Furthermore, the governments in the Asia-Pacific region are increasingly supporting the development of indoor LBS solutions. For instance, the government of Japan has launched a new Digital Agency as part of its efforts to accelerate digital transformation across the country. Digital Agency is aimed to promote the development of high-precision positioning technologies, which are essential for the growth of Location-Based Services (LBS).
Indoor LBS Market is estimated to reach over USD 37.22 Billion by 2030 from a value of USD 9.00 Billion in 2022, growing at a CAGR of 19.42% from 2023 to 2030.
Indoor Location-Based Services (LBS) refer to location-based services that are provided within indoor environments such as malls, airports, hospitals, and other large buildings. Indoor LBS enables users to navigate through indoor spaces, locate nearby amenities, and receive location-based promotions and offers. Indoor LBS typically rely on a combination of technologies such as Wi-Fi, Bluetooth, GPS, and indoor positioning systems (IPS) to determine the users location within a building.
The widespread adoption of smartphones and other mobile devices has created a large market for indoor LBS. Indoor LBS are used to access location-based services and provide real-time navigation within indoor environments. As a result, businesses are increasingly using location-based marketing techniques to engage with customers and promote their products and services. For instance, in January 2023, HERE Technologies partnered with Amazon Web Services (AWS) to provide customers with improved indoor and outdoor positioning capabilities. Therefore, the demand for location-based services in shopping malls, airports, and hospitals is driving the growth of Indoor LBS market.
Indoor LBS Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | USD 37.22 Billion |
| CAGR (2023-2030) | 19.42 % |
| Base Year | 2022 |
| By Product | Analytics and Insights, Location-based Advertising Services, Proximity Beacons, Maps, Consumer Services, Location and Alerts, and Others |
| By Technology | RFID and NFC, Wi-Fi/WLAN, OTDOA and E-OTDOA, Satellite, Microwave, and Infrared Sensing, BT/BLE, and Others |
| By Application | Monitoring, Tracking, Proximity, Navigation, and Others |
| By End use industry | Retail, BFSI, Healthcare, Government, Hospitality, and Others |
| By Geography |
|
| Key Players | Apple Inc., Cisco Systems Inc., GloPos Technologies, Google LLC, IndoorAtlas Ltd, Micello Inc., Microsoft Corporation, Navizon Inc., Ruckus Wireless, YOOSE Pte. Ltd. |
Market Dynamics:
Driver:
The growing demand for location-based marketing (LBM) is driving the growth of the Indoor LBS market. Indoor LBS help businesses to deliver targeted, location-based marketing messages to customers while they are inside a store or other indoor space. Moreover, Indoor LBS provides businesses with valuable insights into customer behavior and preferences. Therefore, businesses gain a better understanding of their customer\'s movements, interests, and behaviors, and use this information to optimize their marketing campaigns and improve their overall customer experience. For instance, in March 2022, Aruba Networks launched the Aruba Edge Services Platform (ESP) designed to simplify and automate the deployment and protection of edge-to-cloud networks. The platform provides a range of services, including wired and wireless connectivity, security, analytics, and assurance delivered as a service from the cloud.
Restraint:
The application of indoor LBS technology raises concerns about privacy and data protection, limiting the growth of the indoor LBS market. Customers are aware of the potential risks associated with the collection and use of their personal data, such as identity theft or financial fraud. Therefore, customers are concerned about how their personal data is being collected, used, and shared by businesses making customers hesitant to adopt indoor location-based services.
Opportunities:
The integration of indoor LBS technology with other emerging technologies, such as IoT, AI, and AR/VR is expected to drive the market\'s growth during the forecast period. Such integration is expected to provide potential opportunities for businesses to collect and analyze data from a range of sources, providing them with valuable insights into customer behavior and preferences. For instance, AR/VR technology is expected to create immersive experiences that engage and delight customers.
Indoor LBS Market Competitive Landscape:
The market for Indoor LVS is highly competitive. The key market players are adopting strategies for mergers and acquisitions, and product innovations to stay competitive in the market. Following are the major market players that comprise the latest market concentration–
• Cisco Systems Inc.
• IndoorAtlas Ltd
• Hewlett Packard Enterprise Development LP
• GloPos Technologies
• Google LLC
• Apple Inc.
• Micello Inc.
• Microsoft Corporation
• Navizon Inc.
• Ruckus Wireless
• YOOSE Pte. Ltd.
Recent Developments:
• In March 2023, Hewlett Packard Enterprise (HPE) announced its acquisition of Axis Security that enables secure remote access to enterprise applications and data, without the need for VPNs or network changes.
• In November 2022, London Business School launched forever forward campaign to attract students and promote greater diversity in the business world.
Indoor LBS Market Segmentation:
By Product
Based on the product, the market is segmented into analytics and insights, location-based advertising services, proximity beacons, maps, consumer services, location and alerts, and others. Location-based advertising services segment accounted for the largest revenue share in the year 2022. Location-based advertising services enable businesses to deliver highly personalized advertising messages to customers based on their location. As a result, businesses are able to target customers in close proximity to their store or venue thereby boosting the marketing strategy.
The proximity beacons segment is expected to emerge as the fastest-growing segment during the forecast period. Proximity beacons are a cost-effective way for businesses to deliver targeted messages to customers. In addition, proximity beacons offer greater precision in targeting, allowing businesses to avoid unnecessary advertising expenses by reaching out to customers willing to enter the store.
By Technology
Based on the technology, the market is segregated into RFID and NFC, Wi-Fi/WLAN, OTDOA and E-OTDOA, satellite, microwave and infrared sensing, BT/BLE, and others. The Wi-Fi/WLAN segment dominates the global market as it is an accurate and cost-effective way to deliver indoor LBS services. Wi-Fi/WLAN technology provides accurate location information in indoor environments when combined with other positioning technologies such as Bluetooth. Furthermore, Wi-Fi/WLAN networks are already in place in many indoor environments. Therefore, the ease and convenience of deploying indoor LBS systems based on Wi-Fi/WLAN technology have contributed to the growth of this segment. The Wi-Fi/WLAN segment is also expected to grow during the forecast period due to its widespread adoption in retail, BFSI, and the healthcare industry. Wi-Fi/WLAN technology is widely available in most indoor environments, making it a popular choice for indoor positioning and navigation.
By Application
Based on the application, the market is divided into monitoring, tracking, proximity, navigation, and others. The tracking segment dominates the global market and accounts for the largest revenue share in the year 2022. Businesses are using indoor LBS technology to track their assets, such as equipment, vehicles, and inventory, within indoor environments. Moreover, businesses use indoor LBS technology to track the location and movements of their employees within indoor environments helping them to improve operational efficiency, reduce costs, and enhance overall business performance. For instance, in February 2023, HERE Technologies and Cognizant announced a collaboration to provide location insights and analytics for global businesses. The collaboration creates customized location-based solutions for businesses across various industries, including retail, healthcare, and transportation.
The proximity segment is anticipated to witness the fastest CAGR growth during the forecast period. Proximity-based LBS solutions enable businesses to deliver personalized experiences to their customers based on their location within an indoor space. Moreover, the COVID-19 pandemic has accelerated the adoption of proximity-based LBS solutions as businesses look for ways to provide touchless, contactless, and socially distant experiences to their customers.
By End-User
Based on the end-user, the market is segmented into retail, BFSI, healthcare, government, hospitality, and others. The retail industry dominates the indoor LBS market as it enables retailers to deliver personalized experiences to their customers. Proximity-based LBS solutions are widely used in retail, providing customers with relevant offers and recommendations based on their location within the store. Moreover, indoor LBS solutions help retailers to improve their operational efficiency by optimizing staff scheduling, inventory management, and supply chain operations further growing the demand for LBS solutions in the retail industry.
The BFSI segment is expected to grow during the forecast period. Indoor LBS solutions help banks and financial institutions to optimize their operations and increase efficiency. As a result, banks are able to guide their customers to specific branches and provide them with location-based information and services. For instance, in November 2022, BankiFi and MX announced a partnership to enable data analytics and insights for financial institutions serving small and medium-sized business customers.
By Region
North America accounted for the largest revenue share in the year 2022. North America has a high adoption rate of advanced technologies such as smartphones, IoT devices, and cloud computing providing a strong foundation for indoor LBS solutions. Therefore, the widespread availability of these technologies allows businesses to leverage indoor LBS solutions to enhance their operations and customer experiences. Furthermore, the presence of leading market players such as Cisco Systems, and Google LLC in the region is driving the growth of the regional market.
Asia-Pacific is anticipated to register the fastest CAGR growth during the forecast period. The e-commerce industry is growing rapidly in the Asia-Pacific region, and indoor LBS solutions help retailers to provide personalized and efficient delivery services. Furthermore, the governments in the Asia-Pacific region are increasingly supporting the development of indoor LBS solutions. For instance, the government of Japan has launched a new Digital Agency as part of its efforts to accelerate digital transformation across the country. Digital Agency is aimed to promote the development of high-precision positioning technologies, which are essential for the growth of Location-Based Services (LBS).
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| Corporate user | : $7460 |
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| Single user | : $3860 |
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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