According to the latest market research study released by Technavio, the global indoor LBS market is expected to grow exponentially at a CAGR of over 43% during the forecast period of 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global indoor LBS market based on product type:
Global indoor LBS market by end-users in 2015 (in $ millions)
|
Retail Companies |
784.0 |
|
Hospitals |
266.0 |
|
Airports |
140.0 |
|
Government organizations and public safety agencies |
112.0 |
|
Others |
98.0 |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global indoor LBS market by retail companies
The global indoor LBS market by retail companies was valued at around $784 million in 2015 and is expected to grow at a CAGR of over 41% by 2020. Indoor LBS providers offer coupons and discounts through push and pull marketing technologies. These solutions provide social information such as ratings and reviews, product videos, and recommended products to improve the shopping experience. Location-based marketing (LBM) is used by various marketers in different industries and it consists of mobile marketing and contextual marketing. It sends product or service promotional messages based on the user location.
“The companies are using location-based apps for targeted advertisements to reach potential consumers in real time. The retail industry has introduced mobile payment using near field communication (NFC) technology that provides analytic solutions. The business owners analyze mobile payment trends using analytics to create promotional campaigns based on consumer preferences,” says Abhishek Sharma, a lead analyst at Technavio for research on the machine to machine (m2m) and connected devices.
LBA gives the opportunity to target a large number of mobile subscribers within a geo-fenced area for the delivery of location-triggered mobile messages. In recent times, Sprooki, an LBS provider partnered with SkyFii, a Wi-Fi and data service provider to provide mobile retail services like m-commerce, guest Wi-Fi, location-based engagement, and loyalty and rewards at the Crescent Mall in Vietnam.
Global indoor LBS market by hospitals
The global indoor LBS market by hospitals was valued at about $266 million in 2015 and is expected to grow at a CAGR of almost 45% by 2020. These systems in a hospital’s area help in monitoring, wayfinding, faster check-ins and admitting activities, real-time equipment registry, asset management, and digital support. LBS help track medical personnels admitted for treatments and the equipment through the RSSI associated with different devices. These solutions improve operational efficiency and reduce the cost of tracking patients, monitoring assets and enhance staff productivity and work efficiency. The vendors are also offering solutions to increase operational effectiveness and tools for process automation management.
Global indoor LBS market by airports
The global indoor LBS market by airports was valued at around $140 million in 2015 and is expected to grow at a CAGR of over 47% by 2020. This system can notify airline passengers to have their electronic boarding passes ready when they approach a security check in airports. It also sends customized offers such as commission-free currency exchange deals to passengers as per their requirements. The use location technology can provide flight status notifications to travelers. Airports are providing mobile communications using business intelligence solutions that enable fast check-ins, send real-time updates, manage queues, and enable fast aircraft turnarounds. Recently, INFORM collaborated with indoo.rs to improve passenger experience and operational management at airports.
The top leading vendors operating in the global indoor LBS market are:
- Apple
- Micello
- Shopkick
Other prominent vendors in the market include Aisle411, Beaconinside, Bluepath, Cartogram, Comtech Telecommunications, DecaWave, Estimote, Gimbal, GiPStech, IndoorAtlas, Insiteo, Intel, MazeMap, Microsoft, Navizon, Nextome, Nimble Devices (Steerpath), Pinmicro, Pointr Labs, Qualcomm Technologies, Quantitec, Ruckus Wireless, Sensewhere, Social Retail, Spreo Indoor Location Services, Sprooki, Thumbvista, and Yoose.
A more detailed analysis is available in the Technavio report titled, ‘Global Indoor LBS Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Enterprise Indoor Location-based Services Market in the US 2016-2020
- Global Location-based Services Market in the Healthcare Industry 2016-2020
- Global Enterprise LBS Market 2016-2020
- Global Location-based Search and Advertising Market 2016-2020
- Location-enabled Platform Market in Southeast Asia 2016-2020
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