The latest report by IMARC Group, titled “India Indoor LBS Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the India Indoor LBS market size reached US$ 324.7 Million in 2022. Indoor location-based services (LBS) technological solutions are employed to track the location of users through a wireless network and location-enabled devices. They use several applications, such as location-based marketing, security, navigation, and asset tracking. These solutions are confined within small geographical perimeters and operate through various technologies, such as wireless local area networks (WLAN), microelectronic mechanical systems (MEMS), a global positioning system (GPS), and Wi-Fi. They provide real-time insights, eliminate human error, provide comprehensive management, better evacuation management, quicker incident response, ensure easier navigation, optimize venue safety, and guarantee asset safety from loss or theft. As a result, indoor LBS is gaining immense traction across India.
India Indoor LBS Market Trends:
The market is primarily driven by the growing penetration of connected devices, including smartphones and tablets, across the region. In addition, the benefits offered by indoor LBS, such as providing accurate information to smartphone users regarding in-store product searches, nearby entertainment options, ongoing local events, and promotional content, are contributing to the market growth. Moreover, the widespread adoption of virtual private networks (VPNs), location-based navigation, and search and advertising analytics by leading organizations in the country to improve data security represents another major growth-inducing factor. Besides this, the increasing use of home area networks and local area networks (LAN), such as wireless local area networks (WLAN), is providing a positive thrust to the indoor LBS market. Furthermore, the increasing Infrastructure development such as parks, educational institutes, retail malls, and hospitals provide lucrative scope for the implementation of location-based services (LBS) for navigation and tracking purposes, creating a favorable market outlook across the country. Looking forward, IMARC Group expects the market value to reach US$ 1,065.4 Million by 2028, exhibiting a CAGR of 20.5% during the forecast period (2023-2028).
- Based on the solution type, the market has been categorized 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 technology, the market has been segregated 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 classified into monitoring, navigation, tracking, analytics, and others.
- On the basis of the vertical, the market has been segmented into retail, transportation and logistics, media and entertainment, healthcare and life sciences, government and public buildings, aerospace and defense, BFSI, and others.
- On the geographical front, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the industry has also been examined in the report along with the profiles of the key players operating in the industry.
|Base Year of the Analysis
||Solution Type, Technology, Application, Vertical, Region
||North India, West and Central India, East India, South India
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