The global indoor LBS market size was valued at USD 1.83 billion in 2018. It is estimated to post a CAGR of 43.3% during the forecast period. according to a new study conducted by Grand View Research, Inc. Increasing penetration of connected devices, such as mobile phones and tablets, worldwide is expected to drive the market over the forecast period. Furthermore, rising use of location-based services for promotional applications is anticipated to stimulate the growth of the market over the coming years.
Infrastructure development such as retail malls, parks, educational institutes, and hospitals provide lucrative scope for implementation of location-based services (LBS) for navigations and tracking purposes. Moreover, increasing deployment of local area network and home area networks, such as Wi-Fi and WLAN, is projected to provide an upthrust to the indoor LBS market over the forecast period.
Indoor LBS is also used to provide assistance and security. Spiraling use of monitoring devices by government authorities to track public activities is also poised to stoke the growth of the market. Apart for this, growing implementation of location-based services in the retail sector for promotional purposes is likely to benefit the growth of the market.
Location-based advertising service dominated the market in 2018 and was valued at USD 272.2 million. Given that several companies are using location-based applications for promoting their products, the segment is estimated to witness significant growth over the forecast period. Proximity beacons will be the most promising product segment. They are anticipated to post a CAGR of 48.0% during the forecast period. Proximity beacons are used for hyper-local advertising and other types of location-based promotion. These beacons are affordable and easy to install and hence, a preferred choice of marketers. Furthermore, advancements in technology are enabling proximity beacons to support Bluetooth and Wi-Fi connectivity, thereby making them suitable for various purposes.
Soaring use of Wi-Fi/WLAN technology in the telecom industry along with growing use of smartphones and internet services is poised to stoke market growth. Furthermore, shopping malls are increasingly using the Wi-Fi/WLAN technology to know consumer buying behavior for higher customer engagement and increased sales. Rising preference for wireless transactions and data transfers is also likely to fuel the demand for the Wi-Fi/WLAN, BT/BLE, Beacons, and A-GPS segment over the forecast period.
The proximity segment is expected to exhibit the highest CAGR during the forecast period. It enables companies to provide customers with product information based on their locations thereby, promoting customer engagement. The use of location-based services for geo-targeting is anticipated to trigger the growth of the market.
Retail will be the most promising end-use segment in the indoor location-based services (LBS) market during the forecast period. Location-based services are largely used in the retail sector for purposes such as marketing and customer retention. Depending on the location, a customer can receive information of restaurants, parks, institutions, and hospitals, among others as well as other data, such as ratings, reviews, and product description. This allows retail companies to enhance shopping experience of customers. Moreover, these services also offer real-time advertisements to alert customers about offers and sales going on at various stores.
North America was the largest regional market for indoor LBS and was estimated at USD 749.0 million in 2018. Asia Pacific is poised to be the fastest growing region during the forecast period. Growing penetration of retail companies in the region is likely to augment the regional market.
Key players in the industry include Apple Inc.; Cisco Systems Inc.; GloPos Technologies; Google Inc.; HERE Holding Corporation; Inside Secure Corporation; IndoorAtlas Ltd; Micello, Inc.; Microsoft Corporation; Ruckus Wireless, Inc.; Navizon Inc.; Qualcomm Inc.; Shopkick, Inc.; YOOSE Pte. Ltd.; and Sprooki Pte Ltd.
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global indoor LBS market report based on products, technology, applications, end use, and regions.
• Product Scope (Revenue, USD Million, 2014 - 2025)
o Analytics and Insights
o Automotive Services
o Campaign Management
o Consumer Services
o Enterprise Services
o Location and Alerts
o Location-based Advertising Services
o Maps
o Precision Geo-targeting
o Proximity Beacons
o Secure Transactions and Redemptions
• Technology Scope (Revenue, USD Million, 2014 - 2025)
o Context Aware Technology
o OTDOA and E-OTDOA
o RFID and NFC
o Satellite, Microwave and Infrared Sensing
o Wi-Fi/WLAN, UWB, BT/BLE, Beacons, and A-GPS
• Application Scope (Revenue, USD Million, 2014 - 2025)
o Monitoring
o Navigation
o Proximity
o Tracking
o Others
• End-use Scope (Revenue, USD Million, 2014 - 2025)
o Aerospace and Defense
o BFSI
o IT and Telecommunication
o Energy and Power
o Government
o Healthcare
o Hospitality
o Retail
o Transportation & Logistics
o Others
• Regional Scope (Revenue, USD Million, 2014 - 2025)
o North America
 U.S.
 Canada
o Europe
 U.K.
 Germany
o Asia Pacific
 China
 Japan
 India
o Latin America
 Brazil
 Mexico
o MEA
 Bahrain
 Kuwait
 Oman
 Qatar
 Saudi Arabia
 United Arab Emirates (U.A.E.)