Micro-Location Technology Market

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MarketsandMarkets Research Private Ltd.
Presents
Micro-Location Technology Market worth 34.1
billion by 2024 with a CAGR of 19.4
https//www.marketsandmarkets.com/Market-Reports/m
icro-location-technology-market-125942648.html
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According to the new market research report
"Micro-Location Technology Market by Application
(Asset Management, Proximity Marketing),
Technology (BLE, UWB, Wi-Fi, RFID), Offering,
Vertical (Retail and Hospitality, Healthcare,
Industrial, Transportation, Sports), Geography
- Global Forecast to 2024", The micro-location
technology market is projected to grow from USD
14.1 billion in 2019 to USD 34.1 billion by 2024
at a CAGR of 19.4. Factors such as increasing
importance of asset management across different
industries rise in the use of location-based
mobile advertisement high return on investment
growing adoption of mobile devices and
inefficiency of GPS in indoor premises are
driving the market toward high growth. Browse
gtgt 64 Market data tables
69 figures
182 pages and in-depth TOC on Micro-Location
Technology Market https//www.marketsandmarkets
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et-125942648.html Early buyers will receive
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technology.asp
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Asset management to register higher CAGR in
micro-location technology market during forecast
period The micro-location technology market for
asset management application is expected to grow
at a higher CAGR during the forecast period. The
management of assets such as facilities,
personnel, and equipment is strategically
important and optimizing their usage is critical
for operational success. Asset management is
defined as the art and science encompassing many
technologies and approaches to optimize asset
utilization in industrial environment with an aim
to increase productivity, which, in turn, helps
organizations to meet their goals. Micro-location
solutions are employed to track assets by
monitoring asset conditions regularly and foresee
potential problems in real time to prevent the
failure of assets, which could lead to losses for
organizations. UWB to hold largest size of
micro-location technology market for asset
management during forecast period UWB
technology-based micro-location solutions provide
more accurate asset management data than those
based on other technologies. UWB technology can
enable centimeter-level precision while locating
objects this is highly beneficial in
high-intensity operations in the healthcare and
industrial verticals. The rapid decline in the
prices of UWB tags has also resulted in the high
implementation of these tags in micro-location
solutions. The manufacturing (industrial) and
logistics sectors are likely to be the major
contributors to the growth of the market for
UWB-based micro-location solutions in the coming
years. Software to hold largest size of
micro-location technology market for proximity
marketing during forecast period The software
offering is expected to hold the largest size of
micro-location technology market for proximity
marketing by 2024. There is an increasing demand
for software systems that dynamically adapt
behavior at execution time in response to changes
in users requirements, preferences, operational
environments, and primary infrastructure.
Micro-location solutions need to execute
intelligent algorithms for effectively
interacting with connected hardware components,
discarding irrelevant data, and taking informed
decisions and actions on behalf of human users to
eliminate human efforts. For creating a high
degree of smart characteristics and autonomy, the
software segment is considered to be the most
important offering in the micro-location
technology market for the proximity marketing
application.
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APAC to register highest CAGR in
micro-location technology market during forecast
period The micro-location technology market has
been segmented into 4 major regions North
America, Europe, Asia Pacific (APAC), and Rest of
the World (RoW). APAC is expected to grow at the
highest CAGR during the forecast period.  The
adoption of micro-location solutions for asset
management in sectors such as industrial, sports
and entertainment, and retail and logistics is
expected to increase in APAC in the coming
years. The adoption of smartphones and mobile
internet is expected to increase in APAC in the
coming years this makes proximity marketing an
ideal communication channel for businesses to
reach customers. Including many emerging
economies, APAC is witnessing dynamic changes
through the adoption of micro-location solutions
for proximity marketing in the retail and
infrastructural sectors. China, South Korea,
Australia, New Zealand, Japan, and Singapore are
the early adopters of proximity marketing
solutions based on micro-location technology in
this region. However, countries such as India,
Indonesia, Thailand, and Malaysia are expected to
witness high growth in the market for the
proximity marketing application. Cisco Systems
(US), Aruba Networks (US), Humatics Corporation
(US), Estimote (US), Ruckus Networks (US), Zebra
Technologies (US), CenTrak (US), Ubisense (UK),
Camco Technologies (Belgium), and Siemens
(Germany) are key players in the market. Decawave
(Ireland), Apple (US), Google (US), Redpine
Signals (US), and Visible Assets (US) are key
innovators in the market. Gimbal (Mobile
Majority) (US), Bluvision (HID Global
Corporation) (US), BlueCats (Australia), Sewio
Networks (Czech Republic), and Kontakt.io (US)
are the other key players in the market.
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icro-location-technology.asp
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