Global Micro-Location Technology Market, By Application (Asset Management, Proximity Marketing), End-User (Offering, Technology and Vertical) – Industry Trends and Forecast to 2029.
Market Analysis and Size
Micro-Location technology has been widely deployed across numerous industries, such as healthcare, automotive, and education, among others due to its functionality of determining the location accurately. The technology is known to enables the content to reach the consumers, and their near establishment, and sectors inside a building.
Global Enterprise Session Border Controller Market was valued at USD 20.47 billion in 2021 and is expected to reach USD 91.01 billion by 2029, registering a CAGR of 20.50%during the forecast period of 2022-2029. Proximity Marketing accounts for the largest application segment in the respective market owing to the deliverance of personalized information to users based on their proximity. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Micro-location technology is used to pinpoint the exact location of any object, person, or piece of equipment within a building. Micro-location technology employs a variety of communication technologies, including Near Field Communication (NFC), Bluetooth, Beacon, and WiFi, among others, to track the location. Many industries, including automotive, healthcare, education, and others, have adopted it because of its improved functionality in establishing location more accurately.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Asset Management and Proximity Marketing), End-User (Offering, Technology and Vertical)
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Countries Covered
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U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
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Market Players Covered
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Apple Inc. (US), Hewlett Packard Enterprise Development LP (US), BlueCats Australia Pty Limited (Australia), Camco (US), CenTrak, Inc. (US), Cisco Systems, Inc. (US), DECAWAVE (Ireland), Estimote, Inc (US), Humatics Corporation (US), Kontakt.io (US), Redpine Signals, Inc. (US), Sewio Networks (Czechia), Siemens (Germany), UBISENSE (UK), Visible Assets, Inc. (US), Zebra Technologies Corp. and/or its affiliates. (US), Trimble Inc. (US), HERE (Netherlands), Ruckus Networks (US) and Gimbal, Inc. (US), among others
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Market Opportunities
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Micro-Location Technology Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growing micro-location technology
The usage of location-based mobile advertising is on the rise, as is the adoption of mobile devices. This is likely to increase market demand for micro-location technology. The rise in the adoption of smart phones among end users owing to the increased purchasing power has a positive impact on the market.
- Rate of investment by using micro-location technology
The use of micro-location technology to address the inefficiency of GPS in interior premises and the high rate of investment is predicted to increase the micro-location technology market. The surge in necessity to deliver unique customer experience in retail and hospitality drives the market further.
- Increasing adoption of asset management
Asset management is becoming increasingly popular in a variety of businesses which continue to be a major driver of market growth for micro-location technology. Also, rise in use of location-based mobile advertisement assist in the expansion of the market.
Opportunities
Furthermore, Emphasis on industry 4.0, IoT and Smart Manufacturing extend profitable opportunities to the market players in the forecast period of 2022 to 2029. The increase in demand for location analytics in robotics will further escalate the market.
Restraints/Challenges
On the other hand, growing concerns associated security and privacy along with rise in trend of e-commerce in retail sector to obstruct market growth. Also, dearth of interoperability, growing competition and difficulty in offering energy-efficient and high-performance solutions at low cost are projected to challenge the micro-location technology market in the forecast period of 2022-2029.
This micro-location technology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on micro-location technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Micro-Location Technology Market
The COVID-19 had a negative impact on micro-location technology market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for industrial services market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the micro-location technology market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Recent Developments
- In September 2020, Humatics, a microlocation technology company based in Massachusetts, received $30 million in Series B funding from Blackhorn Ventures, Airbus Ventures, Lockheed Martin Ventures, and other investors to expand its talent pool, scale up its submillimeter Milo Microlocation System, and expand its presence across the transit domain with its proprietary Rail Navigation System.
Global Micro-Location Technology Market Scope and Market Size
The micro-location technology market is segmented on the basis of application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Asset Management
- Proximity Marketing
End User
- Offering
- Technology
- Vertical
Micro-Location Technology Market Regional Analysis/Insights
The micro-location technology market is analysed and market size insights and trends are provided by country, application and end user as referenced above.
The countries covered in the micro-location technology market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Europe dominates the micro-location technology market because of the rise in the of rate of technology adoption within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of increase in the internet penetrations, growing need and demand for smart phones and the application of micro-location technology by several verticals in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Micro-Location Technology Market Share Analysis
The micro-location technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to micro-location technology market.
Some of the major players operating in the micro-location technology market are
- Apple Inc. (US)
- Hewlett Packard Enterprise Development LP (US)
- BlueCats Australia Pty Limited (Australia)
- Camco (US)
- CenTrak, Inc. (US)
- Cisco Systems, Inc. (US)
- DECAWAVE (Ireland)
- Estimote, Inc (US)
- Humatics Corporation (US)
- Kontakt.io (US)
- Redpine Signals, Inc. (US)
- Sewio Networks (Czechia)
- Siemens (Germany)
- UBISENSE (UK)
- Visible Assets, Inc. (US)
- Zebra Technologies Corp. and/or its affiliates. (US)
- Trimble Inc. (US), HERE (Netherlands)
- Ruckus Networks (US)
- Gimbal, Inc. (US)
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