Micro-Location Technology Market will Reach USD 67.97 Billion, at a CAGR of 19.0% during the Forecast Period of 2028
Market Size – USD 17.71 Billion in 2020, Market Growth – CAGR of 19.0%, Market Trends –Growing inclination towards proximity marketing
NEW YORK CITY, NEW YORK, USA, September 15, 2022 /EINPresswire.com/ — 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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Top 10 Profiled in the Micro-Location Technology Market Report:
• Cisco Systems
• Aruba Networks (HP Enterprise)
• Humatics Corporation
• Estimote
• Ruckus Networks
• Zebra Technologies
• Centrak
• Ubisense Group
• Camco Technologies
• Siemens (Agilion)
Market Segmentation:
Type Outlook (Revenue, USD Million; 2020-2028)
• Services
• Hardware
• Software
End User Outlook (Revenue, USD Million; 2020-2028)
• Healthcare
• Retail and E-Commerce
• Industrial
• Transportation and Logistics
• Others
Application Outlook (Revenue, USD Million; 2020-2028)
• Proximity Marketing
• Asset Management
Technology Outlook (Revenue, USD Million; 2020-2028)
• BLE
• Ultra-Wideband (UWB)
• Ultrasound
• IR
• Others
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Key Takeaways of the Micro-Location Technology Market Report:
• A comprehensive overview of the global Micro-Location Technology industry.
• Accurate market projections in terms of market size, share, and volume.
• Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
• Deep-dive analysis of the upcoming market trends.
• Qualitative and quantitative analyses of the Micro-Location Technology Market.
• Elaborate study of the leading regional markets in the Micro-Location Technology Market.
• Complete overview of the market’s competitive landscape.
• Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
• North America
o U.S.
o Canada
o Mexico
• Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of Middle East & Africa
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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