Micro-Location Technology Market – Industry Trends

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Market Analysis: Global Micro-Location Technology

Global Micro-Location Technology Market is expected to rise from its initial estimated value of USD 11.57 billion in 2018 to an estimated value of USD 49.88 billion by 2026, registering a CAGR of 20.04% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased awareness and adoption of IoT and associated advanced technologies.

Definition:Micro-Location Technology Market

Micro-location technology is an advanced feature and solution provided by various technological providers that help in the detection and isolation of a particular object or humans to a precise nature even so they can be detected to the exact room of a building. This technology involves the dependency on other connectivity solutions so that the objects can be detected to a matter of centimetres. Technologies involved are Bluetooth, Wi-Fi, ultrasound and others.

Market Drivers:

• Lack of effective and efficient technologies available for the detection of location to a precise nature in indoor settings; this factor is expected to drive the market growth
• Increasing usage of location-based services and marketing strategies; this factor is expected to drive the market growth

Market Restraint:

• Concerns for security systems and privacy policies regarding the personalised information with these products is expected to restrain the market growth.

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Segmentation: Micro-Location Technology

• By Application
• Asset Management
• Offering
• Hardware
• Tags/Badges
• Readers/Trackers/Access Points
• Software
• Services
• Technology
• Ultra-Wideband (UWB)
• Ultrasound
• IR
• RFID
• Magnetic
• Rubee
• Zigbee
• Bluetooth Low Energy (BLE)

Competitive Analysis

Global micro-location technology market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of micro-location technology market for global, Europe, North America, Asia-Pacific and South America.

Major Market Players :

Few of the major competitors currently working in micro-location technology market are Cisco; CenTrak; Bluvision Inc.; Sewio Networks; Kontakt.io; DECAWAVE; Apple Inc.; Google; Redpine Signals, Inc.; Visible Assets, Inc.; Hewlett Packard Enterprise Development LP; Humatics; Estimote, Inc.,; Ruckus Networks, an ARRIS Company; Zebra Technologies Corp.; Ubisense;             Camco; Siemens; HERE and Trimble Inc..

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