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Indoor LBS Market Share, Size, Trends | Forecast 2028

The global indoor LBS market size reached US$ 13.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.7 Billion by 2028, exhibiting a growth rate (CAGR) of 19.7% during 2023-2028.
Published 23 August 2023

IMARC Group, a leading market research company, has recently releases report titled “Indoor LBS Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global indoor LBS market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the indoor LBS market?

The global indoor LBS market size reached US$ 13.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.7 Billion by 2028, exhibiting a growth rate (CAGR) of 19.7% during 2023-2028.

What is indoor LBS?

Indoor location-based service (LBS) is a technological solution utilized to track the location of an object or an individual inside a confined space. LBS solutions are limited to small geographical perimeters and operate through various wireless networks, such as global positioning system (GPS), Wi-Fi, microelectronic mechanical system (MEMS), wireless local area networks (WLAN), etc. Indoor LBS also provides customized information to smartphone users, including mapping and navigation, in-store product search, Bluetooth-assisted proximity services, mobile payments, etc. As a result, these solutions find widespread applications across several sectors, such as aerospace, defense, BFSI, healthcare, retail, hospitality, transportation, etc.

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What are the growth prospects and trends in the indoor LBS industry?

The expanding number of infrastructure development projects and the rising utilization of geospatial data in recreational parks, educational institutes, retail malls, commercial complexes, hospitals, etc., are primarily driving the indoor LBS market. Besides this, the elevating popularity of connected devices, including tablets and smartphones, that assist marketers in conducting efficient geo-marketing by targeting potential customers through social check-ins and engaging with their audience by offering customized offers is further augmenting the market growth. Apart from this, the escalating requirement for LBS solutions to provide enhanced assistance and security to the authorities for monitoring and tracking public activities is also catalyzing the global market. Moreover, the inflating usage of various technologies, such as artificial intelligence (AI), cloud computing, and Big Data tools, in business process optimization and determining the plan layout for implementing lean manufacturing processes is anticipated to bolster the indoor LBS market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Solution Type:

  • Analytics and Insights
  • Campaign Management
  • Enterprise Services
  • Location and Alerts
  • Maps
  • Proximity Beacons
  • Others
  • Automotive Services
  • Consumer Services
  • Location-based Advertising Services
  • Precision Geo-targeting
  • Secure Transactions and Redemptions
  • Others

Breakup by Technology:

  • Context Aware Technology
  • RFID and NFC
  • Satellite, Microwave and Infrared Sensing
  • Others (Wi-Fi/WLAN, UWB, BT/BLE, Beacons, A-GPS, etc.)

Breakup by Application:

  • Monitoring
  • Navigation
  • Tracking
  • Analytics
  • Others

Breakup by Vertical:

  • Retail
  • Transportation and Logistics
  • Media and Entertainment
  • Healthcare and Life Sciences
  • Government and Public Buildings
  • Aerospace and Defense
  • BFSI
  • Others

Breakup by Region:

  • North America (U.S. & Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Apple
  • Cisco Systems Inc.
  • GloPos Technologies
  • Google LLC
  • IndoorAtlas Ltd
  • Micello Inc.
  • Microsoft Corporation
  • Navizon Inc.
  • Ruckus Wireless
  • YOOSE Pte. Ltd.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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