Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||994683|
|Published||Content info||103 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 103 Pages||
Global Micro-Location Technology Market to Reach $56.3 Billion by 2027
Amid the COVID-19 crisis, the global market for Micro-Location Technology estimated at US$16.5 Billion in the year 2020, is projected to reach a revised size of US$56.3 Billion by 2027, growing at aCAGR of 19.2% over the period 2020-2027. Proximity Marketing, one of the segments analyzed in the report, is projected to record 19.6% CAGR and reach US$37 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Asset Management segment is readjusted to a revised 18.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.9 Billion, While China is Forecast to Grow at 18.4% CAGR
The Micro-Location Technology market in the U.S. is estimated at US$4.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.7 Billion by the year 2027 trailing a CAGR of 18.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 16.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.1% CAGR.
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