The global micro-location technology market has grown rapidly in recent years. It will grow from $25.75 billion in 2023 to $30.46 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The expansion observed in the past period can be credited to the integration of augmented reality, the rise of indoor navigation systems, widespread use of mobile devices, trends in personalized retail experiences, and the adoption of smart building solutions.
The global micro-location technology market is expected to see rapid growth in the next few years. It will grow to $55.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The projected growth in the upcoming period stems from the convergence of Industry 4.0 and logistics, initiatives in smart cities, innovation within healthcare, the transformation of retail landscapes, increasing demand for indoor navigation solutions, and rapid advancements in IoT technologies.
The projected advancement in the micro-location technology market is propelled by the increasing utilization of mobile devices. These handheld gadgets with touch-screen displays rely on micro-location technology to precisely determine the indoor location of assets, individuals, or equipment. For example, a report from Uswitch Limited noted a 3.8% increase in active mobile connections to 71.8 million in 2022 compared to 2021. With an estimated 68.3 million people residing in the UK by 2025, 95% are anticipated to possess smartphones, underscoring the role of mobile device adoption in driving the micro-location technology market.
The burgeoning e-commerce sector is poised to contribute significantly to the growth of micro-location technology. Micro-location technology aids in bolstering operational efficiency, enhancing customer experiences, and bolstering competitiveness within the e-commerce landscape. As per the International Trade Administration's report, e-commerce for consumer goods is expected to represent around 22% of global retail sales by 2024, with an annual growth rate exceeding 1%. Notably, retail e-commerce sales are forecasted to consistently rise by 8% globally through 2024, emphasizing the pivotal role of the e-commerce industry in propelling the micro-location technology market.
Product innovation emerges as a prominent trend in the realm of micro-location technology, as major market players focus on developing novel technological solutions to fortify their positions. For instance, Smith Micro Software, Inc. launched Micro’s SafePath® 7 platform in March 2022. This platform offers enhanced digital family safety features, including robust parental controls, real-time location services, and app evasion functionalities, catering to wireless carriers and subscribers seeking comprehensive digital lifestyle protection.
Key companies in the micro-location technology sector are driving advancements by developing sophisticated technologies like location platforms to cater to expanding customer bases, bolster sales, and increase revenue. Here Technologies, for instance, unveiled UniMap in January 2023, a highly automated mapping technology within their platform. This innovation stands out for its unmatched map freshness, quality, and coverage. UniMap enables rapid generation of digital maps and custom location-based products, incorporating diverse data types into a unified map with rapid updates reflecting physical environment changes within 24 hours. Its centralized environment ensures continual accessibility for customers, exemplifying cutting-edge technology in the micro-location technology landscape.
In June 2021, Verizon Communications Inc., a US-based corporation specializing in hyper-precision location services, successfully acquired Senion AB, a Sweden-based firm specializing in micro-location technology, for an undisclosed sum. This acquisition enables Verizon to integrate advanced location-based technology offerings, including indoor wayfinding, geofencing, location sharing, analytics, and predictive intelligence, thereby enhancing its service portfolio for customers.
Major companies operating in the micro-location technology market report are Apple Inc., Cisco Systems Inc., Google LLC, CenTrak Inc., Humatics Corporation, Hewlett Packard Enterprise Development LP, Sewio Networks, Siemens AG, Zebra Technologies, Ubisense Group, Aruba Networks, Kontakt.io, Ruckus Networks, Estimote Inc., Camco Technologies nv, Quuppa Intelligent Locating System, Mist Systems, Inc., DecaWave Limited, Redpine Signals, Visible Assets Inc., Gimbal Inc., Bluvision, Pole Star, Inpixon, Pointr, IndoorAtlas Oy, KIO RTLS, Locatify, MERIDIAN, Navisense GmbH, sensewhere Ltd., Hexagon AB, Broadcom Inc., MiTAC Digital Technology Corporation
North America was the largest region in the micro-location technology market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micro-location technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the micro-location technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary elements constituting micro-location technology encompass hardware, software, and services. Hardware pertains to the tangible computer components or delivery systems responsible for storing and executing software instructions. Various technologies like Bluetooth Low Energy, Wi-Fi, near-field communication, beacons, among others, find application in proximity marketing and asset management. This technology finds diverse applications across multiple industries including healthcare, transportation and logistics, BFSI (Banking, Financial Services, and Insurance), sports and entertainment, and commercial sectors. Its implementation caters to the specific needs and requirements of these varied end-user segments.
This report provides micro-location technologies market statistics, including micro-location technologies industry global market size, regional shares, competitors with a micro-location technologies market share, detailed micro-location technologies market segments, market trends and opportunities, and any further data you may need to thrive in the micro-location technologies industry. This micro-location technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The micro-location technology market consists of revenues earned by entities providing services such as indoor positioning, streamlining manufacturing, tracking services, remote controlling, and preventing accidents. The market value includes the value of related goods sold by the service provider or included within the service offering. The micro-location technology market also includes sales of auto-follow video cameras, high-end drones, connected lightbulbs, sono speakers, and connected vehicles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The global micro-location technology market is expected to see rapid growth in the next few years. It will grow to $55.72 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The projected growth in the upcoming period stems from the convergence of Industry 4.0 and logistics, initiatives in smart cities, innovation within healthcare, the transformation of retail landscapes, increasing demand for indoor navigation solutions, and rapid advancements in IoT technologies.
The projected advancement in the micro-location technology market is propelled by the increasing utilization of mobile devices. These handheld gadgets with touch-screen displays rely on micro-location technology to precisely determine the indoor location of assets, individuals, or equipment. For example, a report from Uswitch Limited noted a 3.8% increase in active mobile connections to 71.8 million in 2022 compared to 2021. With an estimated 68.3 million people residing in the UK by 2025, 95% are anticipated to possess smartphones, underscoring the role of mobile device adoption in driving the micro-location technology market.
The burgeoning e-commerce sector is poised to contribute significantly to the growth of micro-location technology. Micro-location technology aids in bolstering operational efficiency, enhancing customer experiences, and bolstering competitiveness within the e-commerce landscape. As per the International Trade Administration's report, e-commerce for consumer goods is expected to represent around 22% of global retail sales by 2024, with an annual growth rate exceeding 1%. Notably, retail e-commerce sales are forecasted to consistently rise by 8% globally through 2024, emphasizing the pivotal role of the e-commerce industry in propelling the micro-location technology market.
Product innovation emerges as a prominent trend in the realm of micro-location technology, as major market players focus on developing novel technological solutions to fortify their positions. For instance, Smith Micro Software, Inc. launched Micro’s SafePath® 7 platform in March 2022. This platform offers enhanced digital family safety features, including robust parental controls, real-time location services, and app evasion functionalities, catering to wireless carriers and subscribers seeking comprehensive digital lifestyle protection.
Key companies in the micro-location technology sector are driving advancements by developing sophisticated technologies like location platforms to cater to expanding customer bases, bolster sales, and increase revenue. Here Technologies, for instance, unveiled UniMap in January 2023, a highly automated mapping technology within their platform. This innovation stands out for its unmatched map freshness, quality, and coverage. UniMap enables rapid generation of digital maps and custom location-based products, incorporating diverse data types into a unified map with rapid updates reflecting physical environment changes within 24 hours. Its centralized environment ensures continual accessibility for customers, exemplifying cutting-edge technology in the micro-location technology landscape.
In June 2021, Verizon Communications Inc., a US-based corporation specializing in hyper-precision location services, successfully acquired Senion AB, a Sweden-based firm specializing in micro-location technology, for an undisclosed sum. This acquisition enables Verizon to integrate advanced location-based technology offerings, including indoor wayfinding, geofencing, location sharing, analytics, and predictive intelligence, thereby enhancing its service portfolio for customers.
Major companies operating in the micro-location technology market report are Apple Inc., Cisco Systems Inc., Google LLC, CenTrak Inc., Humatics Corporation, Hewlett Packard Enterprise Development LP, Sewio Networks, Siemens AG, Zebra Technologies, Ubisense Group, Aruba Networks, Kontakt.io, Ruckus Networks, Estimote Inc., Camco Technologies nv, Quuppa Intelligent Locating System, Mist Systems, Inc., DecaWave Limited, Redpine Signals, Visible Assets Inc., Gimbal Inc., Bluvision, Pole Star, Inpixon, Pointr, IndoorAtlas Oy, KIO RTLS, Locatify, MERIDIAN, Navisense GmbH, sensewhere Ltd., Hexagon AB, Broadcom Inc., MiTAC Digital Technology Corporation
North America was the largest region in the micro-location technology market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micro-location technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the micro-location technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary elements constituting micro-location technology encompass hardware, software, and services. Hardware pertains to the tangible computer components or delivery systems responsible for storing and executing software instructions. Various technologies like Bluetooth Low Energy, Wi-Fi, near-field communication, beacons, among others, find application in proximity marketing and asset management. This technology finds diverse applications across multiple industries including healthcare, transportation and logistics, BFSI (Banking, Financial Services, and Insurance), sports and entertainment, and commercial sectors. Its implementation caters to the specific needs and requirements of these varied end-user segments.
This report provides micro-location technologies market statistics, including micro-location technologies industry global market size, regional shares, competitors with a micro-location technologies market share, detailed micro-location technologies market segments, market trends and opportunities, and any further data you may need to thrive in the micro-location technologies industry. This micro-location technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The micro-location technology market consists of revenues earned by entities providing services such as indoor positioning, streamlining manufacturing, tracking services, remote controlling, and preventing accidents. The market value includes the value of related goods sold by the service provider or included within the service offering. The micro-location technology market also includes sales of auto-follow video cameras, high-end drones, connected lightbulbs, sono speakers, and connected vehicles. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Micro-Location Technology Market Characteristics3. Micro-Location Technology Market Trends and Strategies31. Global Micro-Location Technology Market Competitive Benchmarking32. Global Micro-Location Technology Market Competitive Dashboard33. Key Mergers and Acquisitions in the Micro-Location Technology Market
4. Micro-Location Technology Market - Macro Economic Scenario
5. Global Micro-Location Technology Market Size and Growth
6. Micro-Location Technology Market Segmentation
7. Micro-Location Technology Market Regional and Country Analysis
8. Asia-Pacific Micro-Location Technology Market
9. China Micro-Location Technology Market
10. India Micro-Location Technology Market
11. Japan Micro-Location Technology Market
12. Australia Micro-Location Technology Market
13. Indonesia Micro-Location Technology Market
14. South Korea Micro-Location Technology Market
15. Western Europe Micro-Location Technology Market
16. UK Micro-Location Technology Market
17. Germany Micro-Location Technology Market
18. France Micro-Location Technology Market
19. Italy Micro-Location Technology Market
20. Spain Micro-Location Technology Market
21. Eastern Europe Micro-Location Technology Market
22. Russia Micro-Location Technology Market
23. North America Micro-Location Technology Market
24. USA Micro-Location Technology Market
25. Canada Micro-Location Technology Market
26. South America Micro-Location Technology Market
27. Brazil Micro-Location Technology Market
28. Middle East Micro-Location Technology Market
29. Africa Micro-Location Technology Market
30. Micro-Location Technology Market Competitive Landscape and Company Profiles
34. Micro-Location Technology Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
This report provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on micro-location technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for micro-location technology? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Report Scope
Markets Covered:
1) By Component: Hardware; Software; Services2) By Technology: Bluetooth Low Energy; Wi-Fi; Near Field Communication; Beacons; Other Technologies
3) By Application: Proximity Marketing; Asset Management
4) By End Use: Healthcare; Transportation and Logistics; BFSI; Sports and Entertainment; Commercial
Key Companies Mentioned: Apple Inc.; Cisco Systems Inc.; Google LLC; CenTrak Inc.; Humatics Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Apple Inc.
- Cisco Systems Inc.
- Google LLC
- CenTrak Inc.
- Humatics Corporation
- Hewlett Packard Enterprise Development LP
- Sewio Networks
- Siemens AG
- Zebra Technologies
- Ubisense Group
- Aruba Networks
- Kontakt.io
- Ruckus Networks
- Estimote Inc.
- Camco Technologies nv
- Quuppa Intelligent Locating System
- Mist Systems, Inc.
- DecaWave Limited
- Redpine Signals
- Visible Assets Inc
- Gimbal Inc.
- Bluvision
- Pole Star
- Inpixon
- Pointr
- IndoorAtlas Oy
- KIO RTLS
- Locatify
- MERIDIAN
- Navisense GmbH
- sensewhere Ltd.
- Hexagon AB
- Broadcom Inc.
- MiTAC Digital Technology Corporation
Methodology
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