According to the latest report by IMARC Group, titled “GCC Indoor LBS Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the GCC indoor LBS market size reached US$ 124.0 Million in 2022. Indoor location-based services (LBS) refer to a technology that enables location-based services and navigation solutions within indoor environments. Indoor LBS aims to bridge this gap by utilizing various technologies, such as Wi-Fi, Bluetooth, beacons, and RFID, to accurately determine the position of individuals or objects within buildings. It enhances efficiency, saves time, and improves user experience within complex indoor environments. It also opens up new opportunities for businesses to engage with customers in a more personalized and context-aware manner. It offers a wide range of applications across different industries. In retail, it can enhance the shopping experience by guiding customers to specific products, offering personalized promotions, and providing indoor mapping for efficient navigation. In healthcare, it can assist in asset tracking, patient monitoring, and improving the overall workflow within hospitals.
GCC Indoor LBS Market Trends:
The increasing demand for enhanced customer experiences is driving the market in GCC. Businesses across the GCC region are recognizing the importance of providing personalized and location-specific services to their customers. Indoor LBS technologies enable businesses to deliver targeted promotions, navigation assistance, and real-time information based on a user's location within a facility. Moroever, the rapid expansion of the retail and hospitality sectors in the GCC is fueling the adoption of indoor LBS. With the region witnessing an increase in shopping malls, hotels, and other commercial establishments, there is a growing need for indoor navigation and wayfinding solutions. Indoor LBS technologies, such as beacon technology and Wi-Fi positioning systems, enable visitors to easily navigate through large facilities, locate stores, find amenities, and receive personalized offers. Furthermore, various governments in the region are investing in technologies that enhance public safety, optimize resource utilization, and improve overall quality of life, thus providing a boost to the market. Looking forward, the market value is projected to reach US$ 429.3 Million by 2028, expanding at a CAGR of 21.8% during 2023-2028.
- Based on the solution type, the market has been segmented into analytics and insights, campaign management, enterprise services, location and alerts, maps, proximity beacons, and others (automotive services, consumer services, location-based advertising services, precision geo-targeting, secure transactions and redemptions, and others).
- On the basis of the technology, the market has been 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, and A-GPS.)
- Based on the application, the market has been bifurcated into monitoring, navigation, tracking, analytics, and others.
- On the basis of the vertical, the market has been divided into retail, transportation and logistics, media and entertainment, healthcare and life sciences, government and public buildings, aerospace and defense, BFSI and others.
- Country-wise, the market has been segmented into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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