Global Micro-Location Technology Market By Application (Asset Management, Proximity Marketing), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Micro-Location Technology Market
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.
Market Definition: Global Micro-Location Technology Market
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.
- 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 growth
- Increasing usage of location-based services and marketing strategies; this factor is expected to drive the market growth
- Concerns for security systems and privacy policies regarding the personalised information with these products is expected to restrain the market growth
Segmentation: Global Micro-Location Technology Market
- By Application
- Asset Management
- Readers/Trackers/Access Points
- Ultra-Wideband (UWB)
- Bluetooth Low Energy (BLE)
- Transportation & Logistics
- Retail & E-Commerce
- Government, Defense & Public
- Proximity Marketing
- Retail & Hospitality
- Sports & Entertainment
- Asset Management
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In August 2018, Estimote, Inc., announced the launch of “Estimote LTE Powered Beacon” which is equipped with their individual LTE connection thereby not requiring the need to be connected to an external connectivity device.
- In April 2018, Siemens announced that they had acquired Agilion, a provider of real-time location systems that are utilized in production, logistics and maintenance industries. This acquisition will help in offering Siemens with real-time location systems to their consumers immediately along with the enhancement in developments of this solution.
- In February 2018, Humatics announced that they had acquired 5D Robotics along with their subsidiary Time Domain. This acquisition will help integrate the technology of both the companies for micro-location sensors in different markets and industries resulting in provision of specialised services for different end-users.
Global micro-location technology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of micro-location technology market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players
Few 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; Camco; Siemens; HERE and Trimble Inc..
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved