Micro-Location Technology Global Market Report 2023

“Micro-Location Technology Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on micro-location technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for micro-location technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The micro-location technology market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Component: Hardware; Software; Services

• 2) By Technology: Bluetooth Low Energy; WiFi; Near Field Communication; Beacons; Other Technologies

• 3) By Application: Proximity Marketing; Asset Management

• 4) By End Use: Healthcare; Transportation and Logistics; BFSI; Sports and Entertainment; Commercial

• Companies Mentioned: Apple Inc; Cisco Systems Inc; Google LLC; CenTrak; Humatics Corporation

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the micro-location technology market are Apple Inc., Cisco Systems Inc., Google LLC, CenTrak, Humatics Corporation, Sewio Networks, Siemens AG, Ubisense Group, Zebra Technologies Corporation, Hewlett Packard Enterprise Development LP, Bluvision (Hid Global Corp), Visible Assets Inc., Hexagon AB, Broadcom Inc., and MiTAC Digital Technology Corporation (Navman).

The global micro-location technology market is expected to grow from $18.15 billion in 2022 to $21.76 billion in 2023 at a compound annual growth rate (CAGR) of 19.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The micro-location technology market is expected to grow to $42.77 billion in 2027 at a CAGR of 18.4%.

The micro-location technology market consists of revenues earned by entities providing services such as indoor positioning, streamlining manufacturing, tracking services, remote controlling, and preventing accidents. The market value includes the value of related goods sold by the service provider or included within the service offering. The micro-location technology market also includes sales of auto-follow video cameras, high-end drones, connected lightbulbs, sono speakers, and connected vehicles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Micro location technology refers to the process of locating an individual's placement within a few inches or feet using numerous technologies. It is used to determine the location accurately, both indoors and outdoors individual's placement.

North America was the largest region in the micro-location technology market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micro-location technology report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main components of micro-location technology are hardware, software, and services. Hardware refers to the computer's tangible components or delivery systems that will store and run the written instructions provided by the software. The technologies used are bluetooth low energy, WI-Fi, near-field communication, beacons, and others, thar are applied in the proximity marketing and asset management. The various end-users included are healthcare, transportation and logistics, BFSI, sports and entertainment, and commercial.

The growing use of mobile devices is expected to propel the growth of the micro-location technology market going forward. A mobile device is a compact hand-held gadget with a touch-screen display and other capabilities. Mobile devices utilize micro location-based technology to determine the in-house location of any assets, persons, or other equipment. For instance, according to the Pew Research Center, a nonpartisan American think tank, the percentage of Americans who own a smartphone climbed from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). Furthermore, in 2020, according to the International Telecommunication Union, a United Nations specialized agency based in Switzerland, more than 90% of the population in almost half of the surveyed 29 countries have a mobile and for the remaining ten countries; the number ranged between 80 and 90%. Therefore, the growing use of mobile devices is driving the growth of the micro-location technology market.

Product innovation is a key trend gaining popularity in micro-location technology. Major companies operating in the micro-location technology market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Smith Micro Software, Inc., a US-based company providing software solutions to wireless and cable service providers, launched Micro's SafePath® 7 platform. The wireless carrier will offer its subscribers enhanced digital family safety functionalities such as powerful parental controls, real-time location services, and app evasion features. The SafePath platform includes SafePath Family, SafePath IoT, and SafePath Home provides comprehensive and simple-to-use capabilities for protecting digital lifestyles and managing connected devices through a single app.

In June 2021, Verizon Communications Inc., a US-based company operating in hyper-precision location services acquired Senion AB for an undisclosed amount. With this acquisition, Verizon will be able to offer its customers new location-based technology capabilities, including indoor wayfinding, geofencing, location sharing, analytics, and predictive intelligence. Senion AB is a Sweden-based company operating in micro-location technology such as indoor positioning systems.

The countries covered in the micro-location technology market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The micro-location technologies market research report is one of a series of new reports from The Business Research Company that provides micro-location technologies market statistics, including micro-location technologies industry global market size, regional shares, competitors with a micro-location technologies market share, detailed micro-location technologies market segments, market trends and opportunities, and any further data you may need to thrive in the micro-location technologies industry. This micro-location technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.