Overview and Scope
Micro location technology refers to the process of locating an individual's placement within a few inches or feet using numerous technologies. It is used to determine the location accurately, both indoors and outdoors individual's placement.
Sizing and Forecast
The micro-location technology market size 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 growth in the historic period can be attributed to augmented reality integration, emergence of indoor navigation, mobile device ubiquity, retail personalization trends, smart building solutions..
The micro-location technology market size 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 growth in the forecast period can be attributed to industry 4.0 and logistics, smart cities initiatives,, healthcare innovation, retail transformation, rising demand for indoor navigation, rapid advancements in iot.. Major trends in the forecast period include emerging use cases, edge computing and edge analytics, safety and security solutions, augmented reality (ar) integration, supply chain optimization..
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Segmentation & Regional Insights
The micro-location technology market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Bluetooth Low Energy, WiFi, 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
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.
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Major Driver Impacting Market Growth
The growing use of mobile devices is expected to propel the growth of the micro-location technology market going forward. A mobile device is a compact hand-held gadget with a touch-screen display and other capabilities. Mobile devices utilize micro location-based technology to determine the in-house location of any assets, persons, or other equipment. For instance, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, 71.8 million mobile connections were active in 2022, which is an increase of 3.8% from 2021. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, the growing use of mobile devices is driving the growth of the micro-location technology market.
Key Industry Players
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
The micro-location technology market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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Micro-location technology is an advanced feature and solution provided by various technological providers that help in the detection and isolation of a particular object or humans to a precise nature even so they can be detected to the exact room of a building.
This technology involves the dependency on other connectivity solutions so that the objects can be detected to a matter of centimetres.
Technologies involved are Bluetooth, Wi-Fi, ultrasound and others.Global Micro-Location Technology Market is expected to rise from its initial estimated value of USD 11.57 billion in 2018 to an estimated value of USD 49.88 billion by 2026, registering a CAGR of 20.04% in the forecast period of 2019-2026.
This rise in market value can be attributed to the increased awareness and adoption of IoT and associated advanced technologies.Get Exclusive PDF Sample Copy of Micro-Location Technology Market Report (Including Full TOC, List of Tables & Figures, Chart) athttps://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-micro-location-technology-marketMarket Drivers and Restraints:Lack of effective and efficient technologies available for the detection of location to a precise nature in indoor settings; this factor is expected to drive the market growthIncreasing usage of location-based services and marketing strategies; this factor is expected to drive the market growthConcerns for security systems and privacy policies regarding the personalised information with these products is expected to restrain the market growthThe major players covered in the Micro-Location Technology MarketFew of the major competitors currently working in micro-location technology market are Cisco; CenTrak; Bluvision Inc.; Sewio Networks; Kontakt.io; DECAWAVE; Apple Inc.; Google; Redpine Signals, Inc.; Visible Assets, Inc.; Hewlett Packard Enterprise Development LP; Humatics; Estimote, Inc.,; Ruckus Networks, an ARRIS Company; Zebra Technologies Corp.; Ubisense; Major TOC Of The ReportChapter One: Micro-Location Technology Market OverviewChapter Two: Manufacturers ProfilesChapter Three: Global Micro-Location Technology Market Competition, by PlayersChapter Four: Global Micro-Location Technology Market Size by RegionsChapter Five: North America Micro-Location Technology Market Revenue by CountriesChapter Six: Europe Micro-Location Technology Market Revenue by CountriesChapter Seven: Asia-Pacific Micro-Location Technology Market Revenue by CountriesChapter Eight: South America Micro-Location Technology Market Revenue by CountriesFind More Competitor in TOC with Profile Overview Share Growth Analysis @https://www.databridgemarketresearch.com/toc/?dbmr=global-micro-location-technology-marketKey Report HighlightsComprehensive pricing analysis based on different product types and regional segmentsMarket size data in terms of revenue and sales volumeDeep insights about regulatory and investment scenarios of the global Micro-Location Technology MarketAnalysis of market effect factors and their impact on the forecast and outlook of the global Micro-Location Technology MarketThe detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Micro-Location Technology MarketA roadmap of growth opportunities available in the global Micro-Location Technology Market with the identification of key factorsThe exhaustive analysis of various trends of the global Micro-Location Technology Market to help identify market developmentsKey Questions Answered in Report:What is the key to the Micro-Location Technology Market?What will the Micro-Location Technology Market Demand and what will be Growth?What are the latest opportunities for Micro-Location Technology Market in the future?What are the strengths of the key players?Get Full Report Contents Instantly For Free At https://www.databridgemarketresearch.com/reports/global-micro-location-technology-marketAbout Us:Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the marketContact:Data Bridge Market ResearchTel: +1-888-387-2818Email: Sopan.gedam@databridgemarketresearch.comBrowse Related Reports@Cargo Inspection MarketControl Valves MarketLeak Detection and Repair Market
A Latest intelligence report published by AMA Research with title "Global Micro-Location Technology Market Outlook to 2026.
A thorough analysis of these factors including economic slowdown, local & global reforms and COVID-19 Impact has been conducted to determine future growth prospects in the global market.Definition: Micro-location is a platform of context marketing and micro-localization with the ability to reach consumers near the establishment, near a specific product or within a sector with contextualized messages.
Global Micro-Location Technology the manufacturing cost structure analysis of the market is based on the core chain structure, engineering process, raw materials and suppliers.
The study also provides special chapter designed (qualitative) to highlights issues faced by industry players in their production cycle and supply chain.
However overall estimates and sizing, various tables and graphs presented in the study gives and impression how big is the impact of COVID.
The Global Micro-Location Technology Market segments and Market Data Break Down are illuminated below: by Technology (Wi-Fi, Beacons, Near Field Communication (NFC), QR (Quick Response) codes, Global Positioning Service (GPS), Others), End User (Retail, Hospitality, Entertainment, Healthcare, Others) Market Drivers The inefficiency of GPS in Indoor PremisesGrowing Adoption of Mobile DevicesThe necessity to Deliver Unique Customer Experience in Retail and HospitalityHigh Return on InvestmentRise in Use of Location-Based Mobile AdvertisementIncreasing Importance of Asset Management across Different Industries Market Trend Latest Technological Advancements in Micro-Location Technology Restraints Concerns Regarding Security and PrivacyGrowing Trend of E-Commerce in Retail Sector Challenges Lack of InteroperabilityHigh Competition in MarketProviding Energy-Efficient and High-Performance Solutions at Low CostSophisticated Deployment and Maintenance Requirements Geographically World Global Micro-Location Technology markets can be classified as North America, Europe, Asia Pacific (APAC), Middle East and Africa and Latin America.
