Latest News:- Enterprise Indoor Location-Based Services Market: RFID is expected to lead the Technology segment during 2024-2028

Enterprise Indoor Location-Based Services Market to grow at a CAGR of 63.33% during 2024-2028

The Enterprise Indoor Location-Based Services Market is expected to grow at a CAGR of 63.33% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 64087.9 million. The adoption of LED fixtures for enterprise indoor location-based services is a burgeoning trend in the market. This approach to indoor positioning is anticipated to persist throughout the forecast period, driven by advantages such as enhanced privacy and cost-effectiveness. LED lights eliminate the need for installing additional hardware infrastructure, like beacons, making them a cost-efficient solution. The integrated chips in these overhead lights communicate with smartphones via Bluetooth Low Energy (BLE) and employ sensors to determine the direction of consumer movement within establishments. Moreover, indoor positioning using light ensures customer privacy as no personal data or device identifiers are solicited, collected, or archived. These energy-efficient light fixtures can guide consumers to services in various settings, including airports, museums, and retail outlets. 

Get more information on Enterprise Indoor Location-Based Services Market by requesting a sample report

The RFID subsegment is expected to dominate the Technology segment during the forecast period 

Technavio analysts predict that the RFID subsegment will lead the Technology segment during 2024 and 2028 The Enterprise Indoor Location-Based Services (IBLS) market is experiencing significant growth due to the increasing demand for enhanced workplace productivity and efficiency. IBLS solutions enable accurate real-time location tracking and offer valuable insights for asset management, workforce optimization, and customer experience enhancement. Companies are investing in these technologies to streamline operations, improve safety, and gain a competitive edge. The integration of IoT, AI, and beacons further enhances the capabilities of IBLS, making it an indispensable tool for modern businesses.

Here are the various ways based on which the market is segmented: 

• Technology
  • RFID
  • Bluetooth
  • Wi-Fi
  • Others
• Component
  • Service
  • Hardware
  • Software
• Geography
  • North America

Reasons to Purchase the Global Enterprise Indoor Location-Based Services Market Market Research Report by Technavio. What is in it for you?

• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
• Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
• High ROI with Extensive Hands-on Research: Technavio is renowned for offering personalized market research reports as per unique business needs, delving deep into specific markets, product segments and demographics. Additionally, it is also well-known for providing high return on investments through its wide collection of data at pocket-friendly rates

There are several factors that are causing the market to flourish proximity marketing

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Enterprise Indoor Location-Based Services (IBS) market is experiencing comprehensive development in various industries, including new energy sectors such as solar and wind power generation. In off-grid regions, the demand for electricity is high, and IBS plays a crucial role in optimizing the usage of solar and wind energy. Off-grid solar systems rely on solar controllers, off-grid special inverters, and solar battery packs, which can be lead-acid or lithium-ion batteries. Lead-acid batteries have memory effect and self-discharge rate issues, while lithium-ion batteries offer higher efficiency and longer life. In off-grid living, AC power is converted to DC load through independent inverters. Off-grid battery packs store excess energy generated by solar power or wind power. The integration of IBS in off-grid energy systems can help monitor and manage battery performance, ensuring optimal energy usage and reducing environmental pollution. The market for IBS in new energy sectors is expected to grow significantly as the world transitions to cleaner energy sources.

Market Research Overview

The Enterprise Indoor Location-Based Services (ILBS) market falls under the broader category of IT management software within the global systems software market. This market encompasses organizations specializing in the development and implementation of indoor location-based applications and technologies. Technavio's market analysis for the global systems software market includes the revenue generated by these entities, alongside other software sectors such as application development and management, cloud computing, data centers, networking, security, and storage. It is essential to note that this assessment excludes home entertainment software providers.

The Enterprise Indoor Location-Based Services Market is experiencing significant growth, fueled by the proximity marketing. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/