Technavio’s research report on the enterprise indoor location-based services market in the US forecasts the market to grow at a CAGR of approximately 43% during the forecast period. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
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Technavio predicts the enterprise indoor location-based services market in the US to grow at a CAGR of approximately 43% by 2023. (Graphic: Business Wire)
The advent of Industry 4.0 will be one of the major trends in the enterprise indoor location-based services market in the US during 2019-2023. The advent of advanced technologies including, three-dimensional printing, additive manufacturing, AR, VR, and Big Data analytics is a positive pointer for Industry 4.0. The ongoing digital transformation of industries is promoting the adoption of innovative technologies to gain a strategic and operational advantage.
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According to Technavio analysts, one of the key drivers for the enterprise indoor location-based services market in the US is the proximity marketing:
Enterprise indoor location-based services market in the US: Proximity marketing
For marketers, proximity marketing is emerging as a key strategy. The marketers have been connecting with consumers through their mobile devices with the help of proximity marketing. Proximity marketing has the potential to enhance consumer engagement and build brand equity to strengthen customer loyalty, which will help in improving revenue for a broad range of enterprises, such as retail stores, hotels, entertainment parks and public places such as airports.
According to a senior research analyst at Technavio, “The enterprises are sending customized messages triggered by several factors such as user preference and prior purchase history, geographic location of the consumer, and time of day. The retailers can deliver just-in-time communication to the target audience by analyzing the shopping behavior of the consumer with the help of proximity marketing. Nearly half of the retailers in the US adopt proximity marketing programs.”
Enterprise indoor location-based services market in the US: Segmentation analysis
This report on the enterprise indoor location-based services market in the US provides market segmentation by technology (RFID, Bluetooth, Wi-Fi, and others) and by product (hardware and software and services). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major technology segments, the RFID segment held the largest enterprise indoor location-based services market share in 2018, contributing to around 35% of the market. This technology segment will dominate the global market throughout the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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