Indoor Location Based Services Global Market Report 2024

The indoor location-based services market size has grown rapidly in recent years. It will grow from $12.87 billion in 2023 to $14.74 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth observed during the historical period can be attributed to several factors. These include a heightened demand for indoor navigation solutions, driven by the need for improved customer experiences within indoor spaces. Additionally, there was a growing emphasis on efficient resource management, prompting organizations to adopt indoor location-based services to optimize their operational processes. Furthermore, the increased demand for indoor asset tracking solutions contributed significantly to the growth of the indoor location-based services market.

The indoor location-based services market size is expected to see rapid growth in the next few years. It will grow to $25.63 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to growing healthcare applications, increasing efficient facility management, increasing smartphone penetration, demand for location-based services in public venues, and emergence of smart buildings. Major trends in the forecast period include integration with AI and machine learning, indoor positioning technologies, real-time location analytics, location-based personalization and cross-industry adoption.

The anticipated growth in the indoor location-based services market is driven by the increasing adoption of connected devices. Connected devices, characterized by embedded sensors, software, and network connectivity, facilitate data collection and exchange over the Internet. This adoption surge is propelled by technological advancements, expanded internet connectivity, and the rising demand for smart, interconnected solutions across diverse industries and consumer segments. The integration of connected devices enriches indoor location-based services by offering more data points for precise positioning, enabling seamless navigation, and delivering personalized experiences within indoor environments. For example, as reported by the Health Sector Cybersecurity Coordination Center (HC3) in August 2022, approximately 7 billion devices were connected through the Internet of Things (IoT) in 2022. Projections indicate substantial growth, with an estimated 20 billion additional devices expected to leverage this technology by 2025. Consequently, the increasing penetration of connected devices is a key driver propelling the growth of the indoor location-based services market.

Key players in the indoor location-based services market are concentrating on developing advanced solutions, such as indoor positioning software tailored for facility wayfinding, to establish a competitive advantage. Indoor positioning software for facility wayfinding is specialized software designed to facilitate navigation and orientation within complex indoor environments like airports, hospitals, shopping malls, and corporate campuses. For instance, ESRI, a US-based geographic information system (GIS) software company, unveiled ArcGIS IPS (Indoor Positioning Software) in July 2022. This innovative solution enables indoor positioning and wayfinding within buildings and indoor spaces using Esri's ArcGIS platform. ArcGIS IPS supports real-time indoor wayfinding, location tracking and sharing, location data collection, and indoor analytics. Leveraging a range of indoor positioning technologies such as Wi-Fi, Bluetooth Low Energy (BLE), and sensor-based technologies, ArcGIS IPS accurately estimates users' locations within buildings. Integrated with indoor maps, location data, and routing algorithms, ArcGIS IPS delivers real-time navigation and wayfinding capabilities akin to outdoor GPS navigation devices.

In June 2021, Verizon, a leading US-based telecommunications company, completed the acquisition of Senion for an undisclosed sum. This acquisition significantly bolsters Verizon's capabilities in indoor location-based services. Senion's cutting-edge machine-learning sensor fusion technology, notably its Indoor Positioning System (IPS), delivers sub-meter accuracy, enabling precise positioning and navigation within indoor environments. Through the integration of Senion's technology with Verizon's robust 5G platform, Verizon is poised to offer enhanced indoor wayfinding, geofencing, location sharing, analytics, and predictive intelligence services to its clientele. Senion AB, headquartered in Sweden, specializes in indoor positioning systems (IPS) and indoor location-based services (LBS).

Major companies operating in the indoor location based services market are Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Huawei Technologies Co. Ltd., CenTrak, Siemens AG, International Business Machines Corporation (IBM), Cisco Systems Inc., Qualcomm Technologies Inc., Nokia Corporation, Ericsson AB, Baidu Inc., CommScope Inc., Zebra Technologies Corporation, Garmin Ltd., Trimble Inc., Environmental Systems Research institute (ESRI) Inc, TomTom N.V., Telit Communications PLC, Foursquare Labs Inc., Ubisense, HERE Technologies, YOOSE Pte. Ltd., Aruba Networks Inc., Invigor Group Limited, IndoorAtlas Oy, Navizone Limited.

North America was the largest region in the indoor location-based services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 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 indoor location based services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Indoor location-based services (LBS) encompass technologies and systems designed to facilitate the monitoring, tracking, and navigation of objects or individuals within indoor environments, such as buildings, campuses, airports, and retail complexes. Leveraging a blend of hardware, software, and networking technologies, these services precisely identify the location of devices or users and offer pertinent location-based information or services.

The primary categories of products within indoor location-based services include analytics and insights, automotive services, campaign management, consumer services, enterprise services, location and alerts, location-based advertising services, maps, precision geo-targeting, and other related offerings. Analytics and insights involve the collection and analysis of data to uncover valuable patterns, trends, and insights crucial for informed decision-making. Various technologies underpin indoor location-based services, including context-aware technology, observed time difference of arrival (OTDOA) and enhanced observed time difference of arrival (E-OTDOA), radio frequency identification (RFID), near-field communication (NFC), satellite-based positioning, microwave and infrared sensing, among others. These technologies find applications in diverse areas such as monitoring, navigation, proximity detection, tracking, and more. Indoor location-based services cater to a wide array of end-users, spanning industries like aerospace and defense, banking, financial services and insurance (BFSI), information technology (IT) and telecommunications, energy and power, government agencies, healthcare, hospitality, retail, transportation and logistics, and others.

The indoor location based services market research report is one of a series of new reports that provides indoor location-based services market statistics, including indoor location based services industry global market size, regional shares, competitors with an indoor location based services market share, detailed indoor location based services market segments, market trends and opportunities, and any further data you may need to thrive in the indoor location based services industry. This indoor location based services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The indoor location-based services market consists of revenues earned by entities by providing services such as positioning services, location-based advertising and marketing, asset tracking and management, mapping, and visualization. The market value includes the value of related goods sold by the service provider or included within the service offering. The indoor location-based services market also includes sales of Beacons Wi-Fi access points, radio frequency identification (RFID) tags, cameras, fingerprinting devices, and sensor networks. 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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