Micro Location Technology Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3460
Micro Location Technology Market size is predicted to gain exponentially during the projected timeframe driven by inefficiency of GPS systems indoors.. The growing demand for location analytics in the robotics field is expected to drive the growth of the micro location technology market. The demand for effective space management solutions in the world is growing that includes warehouse and inventory holding facilities. These structures have to use the available space at its optimum level. The micro location technology helps to detect the desired object in the warehouse by establishing the communication between tags and receivers. The technology includes radio frequency tags that are easy to establish the communication between a tag and a receiver, which saves time and efforts and helps to leverage the “Just in Time” theory.
Micro location technology works on several technology platforms such as iBeacon by Apple, Bluetooth v1-2, v4.0/BLE, QR codes, NFC, Wi-Fi, and GPS. These technologies work on the principal of a sender and a receiver. The Bluetooth v4.0 or BLE allows sensing and alerting in proximity. This technology is supported by various smartphone platforms such as iOS, Android, Windows, and BlackBerry. Contrasting with older Bluetooth versions, BLE is low power consuming and will strain the battery consumption with a very little percentage. Apple’s iBeacon has all the facilities of BLE and its additional features make it more attractive to use in proximity sensing in the micro location technology market.
On the basis of application, the micro location technology market can be segmented into two types, asset management and proximity marketing. The proximity marketing is expected to have maximum growth over the forecast period due to its increasing importance among retailers. This technology allows retailers to maintain good CRM (Customer Relationship Management). The technology uses mobile-device users who are in close proximity to a business. Mobile devices that are enabled with Bluetooth or Wi-Fi technology get a message sent out electronically by businesses, which are hoping to digitally connect with nearby consumers.
Asset management refers to management facilities and equipment. It is strategically important that business should optimize their usage for operational success. Micro location technology solutions are used to track different assets of the company by observing asset conditions and predicting potential problems in real-time to avoid the failure of assets.
The North America region is anticipated to have the largest market share in the micro location technology market due to its high technological adoption. This region is a top market for adopting and implementing cutting-edge technologies used for micro-location detection and proximity marketing management. With the increasing use of micro-location solutions for different purposes, there has been an increase in the use of mobile web services and applications, boosting the market growth.
The Asia Pacific micro location technology market is expected to grow at a very fast pace due to the growing adoption of micro location solutions in asset management sectors such as industrial, sports, media, retail, and logistics. The growing rate of smartphones and mobile internet usage will provide a suitable condition for proximity marketing for businesses to reach out to customers. With many growing economies, Asia Pacific is going through heavy adoption of proximity marketing in the retail and infrastructural industry. China, Australia, Japan, and South Korea are some of the early adopters of this technology and countries including India, Malaysia, and Thailand are expected to see high growth in the market of the proximity marketing industry.
Some of the key players in the micro location technology market are Cisco Systems, Aruba Networks, Humatics Corporation, Estimote, Ruckus Networks, Zebra Technologies, CenTrak, Ubisense, Camco Technologies, Siemens, Decawave, Apple, Google, Redpine Signals, and Visible Assets Gimbal (Mobile Majority), Bluvision (HID Global Corporation), BlueCats, Sewio Networks, and Kontakt.io.
Micro Location Technology Market, By Application Type, 2014-2025 (USD Million)
- Asset Management
- Proximity Marketing
Micro Location Technology Market, By Asset Management, 2014-2025 (USD Million)
- UWB (Ultra Wideband)
Micro Location Technology Market, By Proximity Marketing, 2014-2025 (USD Million)
Micro Location Technology Market, By End-use, 2014-2025 (USD Million)
- Retail and e-commerce
- Sports and Entertainment
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Aruba Networks
- Camco Technologies
- Cisco Systems
- Humatics Corporation
- Redpine Signals
- Ruckus Networks
- Sewio Networks
- Visible Assets
- Zebra Technologies
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