Enterprise Indoor Location-Based Services Global Market Report 2024

Enterprise indoor location-based services (LBS) encompass technologies that facilitate location-specific information and services within indoor environments such as office buildings, warehouses, retail stores, and hospitals. These services utilize diverse technologies to ensure precise positioning and provide relevant information or functionalities to users based on their location within a facility.

The primary offerings of enterprise indoor location-based services include analytics and insights, automotive services, campaign management, consumer services, enterprise services, location and alerts, location-based advertising services, maps, and precision geo-targeting. The analytics and insights segment involves the sale of services that utilize real-time location tracking to derive valuable data-driven intelligence within indoor settings. These solutions integrate hardware, software, and services, catering to applications such as monitoring, navigation, proximity detection, tracking, and other related functionalities.

The enterprise indoor location-based services market research report is one of a series of new reports that provides enterprise indoor location-based services market statistics, including enterprise indoor location-based services industry global market size, regional shares, competitors with an enterprise indoor location-based services market share, detailed enterprise indoor location-based services market segments, market trends, and opportunities, and any further data you may need to thrive in the enterprise indoor location-based services industry. This enterprise indoor location-based services 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 enterprise indoor location-based services market size has grown exponentially in recent years. It will grow from $0.66 billion in 2023 to $0.93 billion in 2024 at a compound annual growth rate (CAGR) of 40.7%. The growth observed in the historical period can be attributed to several factors, heightened emphasis on passenger comfort, increased demand for privacy and security measures, rising passenger traffic volumes, enhanced focus on operational efficiency within airports, and improvements in overall airport operational effectiveness.

The enterprise indoor location-based services market size is expected to see exponential growth in the next few years. It will grow to $3.67 billion in 2028 at a compound annual growth rate (CAGR) of 40.1%. The anticipated growth in the forecast period can be attributed to several key factors, advancements in location-based technologies, widespread adoption of Internet of Things (IoT) devices, evolution towards Industry 4 standards, increased deployment of indoor positioning systems using light-based technologies, and expanding use of analytics for optimizing business processes. Major trends expected in this period include the adoption of IoT devices across various applications, advancements in indoor positioning technologies, integration of smart building technologies to enhance operational efficiencies, continuous technological advancements in the LBS sector, and a rise in partnerships and collaborations aimed at driving innovation and market expansion. These trends are shaping the future landscape of enterprise indoor location-based services by enabling more sophisticated and efficient solutions across diverse industries.

The enterprise indoor location-based services market is poised for growth driven by the increasing adoption of Internet of Things (IoT) devices. IoT devices are physical objects equipped with sensors, software, and connectivity capabilities to exchange data autonomously over networks. This adoption is fueled by technological advancements, expanded connectivity options such as 5G, and the broadening applications across various industries. Enterprise indoor location-based services capitalize on IoT devices to optimize operational efficiency, enhance customer experiences, and improve safety within indoor environments such as offices, warehouses, retail spaces, and healthcare facilities. For example, projections from the GSM Association indicate global IoT connections are forecasted to rise to 23.3 billion by 2025, up from 15.1 billion in 2021, highlighting the significant driver behind the growth of the enterprise indoor location-based services market.

Key players in the enterprise indoor location-based services market are focusing on developing innovative solutions, including geolocation platforms, to deliver real-time location services efficiently within tall buildings. Geolocation platforms utilize advanced technologies to determine and manage the geographic positions of devices, assets, or individuals accurately. For instance, Radisys Corporation, a US-based telecom solutions provider, launched Radisys ReachPoint in February 2023, a geolocation platform leveraging smart network technologies. This platform enables precise indoor navigation, facilitating seamless movement for employees and visitors in complex office environments without relying on GPS, using data from cell towers and Wi-Fi nodes for accurate geospatial information.

In June 2021, Verizon Communications Inc., a US-based telecom giant, acquired Senion AB to bolster its indoor positioning technology capabilities. This acquisition aims to enhance location-based services for enterprises, enabling improved navigation in intricate indoor settings across sectors such as retail, healthcare, and logistics. Senion AB, based in the UK, specializes in indoor positioning, navigation, and sensor fusion systems, complementing Verizon's efforts to provide robust solutions for indoor environments.

Major companies operating in the enterprise indoor location-based services market are Zebra Technologies Corporation, HPE Aruba Networking, Cisco Meraki, Geotab Inc., DecaWave Limited, Shopkick, Cisco DNA Spaces, Navigine, Ekahau, Ubisense, Pointr, Inpixon, IndoorAtlas Oy, Navizon Inc., Aisle411 Inc., Senion AB, Steerpath Oy, MazeMap AS, Infsoft GmbH, Airista Flow Inc., Locatify.

North America was the largest region in the enterprise indoor location-based services market in 2023. The regions covered in the enterprise indoor location-based services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the enterprise indoor location-based services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The enterprise indoor location-based services market consist of revenues earned by entities by providing services such as integration and API services, geofencing and proximity alerts, location-based analytics, location-based marketing, and emergency response and safety. The market value includes the value of related goods sold by the service provider or included within the service offering. The enterprise indoor location-based services market also includes sales of indoor positioning systems (IPS), indoor navigation solutions, and asset tracking systems. 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.

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