The Micro-Location Technology Market is expected to reach USD 67.97 Billion by 2028, according to a new report by Reports and Data. Micro-location technology is an advanced solution implemented by several technology providers that help in the discovery and privacy of a particular object or humans. This technology depends on other connectivity solutions so that the objects can be identified even from a distance. Location technology helps marketers to spot and get insights about their customers about the business even at aisle level. However, the limitation of geofences in marketplaces and multi-level structures is a challenge for the market. Technologies required are Wi-Fi, Bluetooth, ultrasound, and others. Micro-Location uses technology that can pinpoint your indoor location within a few feet, and that can bring several opportunities for consumer engagement.

The driving factors of the market are the rising influence of asset management in various industries, the inefficiency of GPS in indoor premises, high return on expenditure, an increase in the use of location-based mobile advertisement, growing use of mobile devices, and to deliver unparalleled customer experience in retail and hospitality among others. However, other factors that may restrain the growth of the market are, security and privacy concerns and the increasing inclination of e-commerce in the retail sector.

The APAC region is forecasted to witness the highest CAGR of 19.2% during the forecast period. The demand for smart phones and mobile internet is anticipated to grow in this region in the coming years. Due to the presence of various emerging economies, this region is observing progressive developments through the enactment of micro-location solutions for proximity marketing in the infrastructural sectors and retail.

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Further key findings from the report suggest

Based on type, the Micro-Location Technology Market is classified into services, software and hardware.
The software type segment is anticipated to grow at the highest rate of 19.1% during the forecast period.
There is an expanding demand for software systems that adopt performance dynamically at execution time in compliance to changes in the user's primary infrastructure, requirements, operational environments, and preferences.
For efficiently communicating with connected hardware components, micro-location solutions need to perform complicated and intelligent algorithms by dropping irrelevant data and taking conscious decisions and actions on behalf of human users to reduce human efforts.
BLE is anticipated to register the highest CAGR of 19.1% during the forecast period.
The high growth of this technology is due to the extensive use of BLE-based solutions in product distribution and multi-channel marketing in the retail sector.
BLE allows similar communication as classic Bluetooth, with the combined advantage of low cost, low power consumption, and small size.
BLE has significant involvements in IoT as it connects with gateways and other wireless accessories seamlessly; it is regarded as the future of consumer engagement in retail sectors.
The services type segment is anticipated to grow at a CAGR of 19.0% during the forecast period.
Various industries or companies that are using micro-location solutions are working towards the development of maintenance and support services regularly, which is expected to stimulate the segment growth throughout the forecast period.
Growing technological advancement is also assumed to drive the growth in the next few years.
One of the major players, Cisco Systems, acquired July Systems provider of extremely scalable SaaS cloud-based middleware platform for location services recently.
This platform uses a cloud solution that is accessible through a subscription of an enterprise-grade engagement platform. Furthermore, it emphasizes instant customer activation, APIs, data-driven behavioral insights, and contextual rules engine.
Due to the predominance of a vast number of new entrants, established manufacturers, and suppliers in the market, the industry is extremely competitive.
Key participants include Cisco Systems, Aruba Networks (HP Enterprise), Humatics Corporation, Estimote, Ruckus Networks, Zebra Technologies, Centrak, Ubisense Group, Camco Technologies, Siemens (Agilion), Decawave, Apple, Google, Redpine Signals, Visible Assets, Gimbal (Mobile Majority), Bluvision (Hid Global Corporation), Bluecats, Sewio Networks, Kontakt.Io, Inc.
The report covers a comprehensive analysis of the impact of the COVID-19 pandemic on the global market. The pandemic has adversely impacted the businesses and industries due to stringent government policies on social restrictions, transportation bans, and disruption in production and product supply chains. The report provides a comprehensive analysis of the pandemic’s impact on the global market and offers key insights into ways to circumvent the negative effect of the pandemic.

Market Segmentation:

The global Micro-Location Technology market report covers a detailed analysis of the market segmentation to provide key insights into the scope of the market expansion. The global Micro-Location Technology market has been segregated on the basis of product types, applications, end-users, and key regions of the industry.

Type Outlook (Revenue, USD Million; 2016-2026)

Services
Hardware
Software

End User Outlook (Revenue, USD Million; 2016-2026)

Healthcare
Retail and E-Commerce
Industrial
Transportation and Logistics
Others
Application Outlook (Revenue, USD Million; 2016-2026)

Proximity Marketing
Asset Management

Technology Outlook (Revenue, USD Million; 2016-2026)

BLE
Ultra-Wideband (UWB)
Ultrasound
IR
Others

Regional Analysis:

The regional bifurcation of the Micro-Location Technology market report is a comprehensive segment that covers a thorough analysis of the market dynamics and offers critical insights on import/export ratio, supply and demand dynamics, revenue share, market size, market share, industry analysis, production and consumption patterns, and the current and emerging trends of each region. The report also offers a country-wise analysis to confer a better understanding of the market.

The prominent geographical regions of the market include:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Competitive Landscape:

The global Micro-Location Technology market report covers a comprehensive overview of the market’s competitive landscape, providing a detailed analysis of the company profile, product portfolio, market position, global network, revenue share, profit margins, technological and product advancements, and SWOT analysis of each player. The report also provides extensive insights into strategic business expansions such as mergers & acquisitions, collaborations, corporate deals, distribution partnerships, and product launches, among others.

Key Highlights from the Report:

Detailed overview of the Micro-Location Technology market in the forecast years
Accurate estimation through in-depth analysis of key market trends and features
Extensive regional analysis and insights regarding the regions projected to exhibit lucrative growth
Comprehensive analysis of the competitive landscape
Study of the recent development and trends in the market

Highlights of the TOC:

Report Overview
1.1 Research Scope
1.2 Key Micro-Location Technology market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline

Global Growth Trends
2.1 Global Micro-Location Technology market size
2.2 Latest Micro-Location Technology market trends
2.3 Key growth trends

Competitive Landscape
3.1 Global Micro-Location Technology market key players
3.2 Global Micro-Location Technology size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Micro-Location Technology market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Continue…

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