The global indoor location application platforms market size is expected to grow from USD 5.9 billion in 2020 to USD 31.9 billion by 2027, at a CAGR of 27.3% from 2021 to 2027. The market for indoor location application platforms is still evolving and expanding. Leaders of digital workplace infrastructure and operations must leverage location data to meet their end users' rising business analytics needs and their information security requirements.
Various factors such as the growing number of applications powered by beacons and BLE labels; the ever-increasing integration of beacons in cameras, LED lightings, Point of Sale (PoS) devices, and digital signage; the proliferation of smartphones, connected devices, and location-based applications among customers; and the GPS technology's inefficiency in the indoor environment are driving the adoption of the indoor location application platforms. Vendors that provide on-premises and cloud-based application platforms that ingest location data from indoor location service providers try to compensate the indoor location application platform market. The global indoor location application platform market will benefit from continuous government initiatives such as the demand for smart cities and smart homes. The smart city initiatives in emerging economies are key sectors where indoor location application platforms may be used. Other key regions with a substantial increase in smart city initiatives include the United States, China, India, Japan, and Germany. These platforms may be utilized for sustainable, distributed energy generation, hospitals, and automated waste management facilities for indoor mobility solutions. Artificial Intelligence integration in indoor location application platforms technology is also expected to drive substantial market growth in the near future.
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Global Indoor Location