The India indoor LBS market size reached US$ 324.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,065.4 Million by 2028, exhibiting a growth rate (CAGR) of 20.5% during 2023-2028.
Indoor location-based services (LBS) are technological solutions utilized to track the location of users via a wireless network and location-enabled devices. These solutions are confined within small geographical perimeters and operate through various technologies, such as the global positioning system (GPS), Wi-Fi, wireless local area networks (WLAN), and microelectronic mechanical system (MEMS). Indoor LBS provides customized information to smartphone users regarding ongoing local events, in-store product search, nearby entertainment options, and promotional content. These properties make indoor LBS an ideal solution for the defense, healthcare, aerospace, transportation, retail, and hospitality industries.
The growth of the indoor LBS market in India is primarily being driven by the increasing penetration of smartphones, along with proliferating social media platforms in the country. Additionally, the widespread adoption of location-based navigation, virtual private networks (VPNs), and search and advertising analytics by leading organizations in the country to improve data security is further contributing to the market growth. Moreover, the growing employment of indoor LBS across various industries to promote and track products is creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India indoor LBS market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on solution type, technology, application and vertical.
North India, West and Central India, East India, South India
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Key Questions Answered in This Report
The India indoor LBS market was valued at US$ 324.7 Million in 2022.
We expect the India indoor LBS market to exhibit a CAGR of 20.5% during 2023-2028.
The rising adoption of indoor LBS as it provides real-time insights, eliminates human error, provides comprehensive management, better evacuation management, quicker incident response, ensures easier navigation, optimizes venue safety, etc., is primarily driving the India indoor LBS market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of LBS platforms to improve data security, during the remote working and Bring-Your-Own-Device (BYOD) models across the nation.
Based on the solution type, the India indoor LBS market has been segmented into analytics and insights, campaign management, enterprise services, location and alerts, maps, proximity beacons, and others. Currently, location and alerts hold the majority of the total market share.
Based on the technology, the India indoor LBS market can be divided into context aware technology, OTDOA and E-OTDOA, RFID and NFC, satellite, microwave and infrared sensing, and others (Wi-Fi/WLAN, UWB, BT/BLE, Beacons, A-GPS, etc.). Among these, RFID and NFC currently exhibits a clear dominance in the market.
Based on the application, the India indoor LBS market has been categorized into monitoring, navigation, tracking, analytics, and others. Currently, tracking accounts for the largest market share.
Based on the vertical, the India indoor LBS market can be segregated into retail, transportation and logistics, media and entertainment, healthcare and life sciences, government and public buildings, aerospace and defense, BFSI, and others. Among these, retail exhibits a clear dominance in the market.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India.
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