PUBLISHER: The Business Research Company | PRODUCT CODE: 1659236
PUBLISHER: The Business Research Company | PRODUCT CODE: 1659236
Micro-location technology denotes the process of pinpointing an individual's precise position within inches or feet, utilizing diverse technological methods. This capability extends to accurately locating individuals both indoors and outdoors.
The primary elements constituting micro-location technology encompass hardware, software, and services. Hardware pertains to the tangible computer components or delivery systems responsible for storing and executing software instructions. Various technologies like Bluetooth Low Energy, Wi-Fi, near-field communication, beacons, among others, find application in proximity marketing and asset management. This technology finds diverse applications across multiple industries including healthcare, transportation and logistics, BFSI (Banking, Financial Services, and Insurance), sports and entertainment, and commercial sectors. Its implementation caters to the specific needs and requirements of these varied end-user segments.
The micro-location technologies market research report is one of a series of new reports from The Business Research Company that provides micro-location technologies market statistics, including micro-location technologies industry global market size, regional shares, competitors with a micro-location technologies market share, detailed micro-location technologies market segments, market trends and opportunities, and any further data you may need to thrive in the micro-location technologies industry. This micro-location technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The micro-location technology market size has grown rapidly in recent years. It will grow from $29.83 billion in 2024 to $34.93 billion in 2025 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to augmented reality integration, emergence of indoor navigation, mobile device ubiquity, retail personalization trends, smart building solutions.
The micro-location technology market size is expected to see rapid growth in the next few years. It will grow to $64.97 billion in 2029 at a compound annual growth rate (CAGR) of 16.8%. The growth in the forecast period can be attributed to industry 4.0 and logistics, smart cities initiatives, healthcare innovation, retail transformation, rising demand for indoor navigation, rapid advancements in IoT. Major trends in the forecast period include emerging use cases, edge computing and edge analytics, safety and security solutions, augmented reality (AR) integration, supply chain optimization.
The projected advancement in the micro-location technology market is propelled by the increasing utilization of mobile devices. These handheld gadgets with touch-screen displays rely on micro-location technology to precisely determine the indoor location of assets, individuals, or equipment. For example, a report from Uswitch Limited noted a 3.8% increase in active mobile connections to 71.8 million in 2022 compared to 2021. With an estimated 68.3 million people residing in the UK by 2025, 95% are anticipated to possess smartphones, underscoring the role of mobile device adoption in driving the micro-location technology market.
The expanding e-commerce industry is anticipated to significantly propel the growth of the micro-location technology market in the future. E-commerce involves the exchange of goods and services via the Internet or other electronic networks. The integration of micro-location technology enhances operational efficiency, improves customer experiences, and boosts overall competitiveness in the market. For example, in August 2024, the United States Census Bureau, a US-based government agency, reported that U.S. retail e-commerce sales for the second quarter of 2024 reached approximately $282.3 billion, reflecting a 5.3% increase compared to the first quarter of 2023. Consequently, the growth of the e-commerce sector is driving the expansion of the micro-location technology market.
Product innovation emerges as a prominent trend in the realm of micro-location technology, as major market players focus on developing novel technological solutions to fortify their positions. For instance, Smith Micro Software, Inc. launched Micro's SafePath(R) 7 platform in March 2022. This platform offers enhanced digital family safety features, including robust parental controls, real-time location services, and app evasion functionalities, catering to wireless carriers and subscribers seeking comprehensive digital lifestyle protection.
Key companies in the micro-location technology sector are driving advancements by developing sophisticated technologies like location platforms to cater to expanding customer bases, bolster sales, and increase revenue. Here Technologies, for instance, unveiled UniMap in January 2023, a highly automated mapping technology within their platform. This innovation stands out for its unmatched map freshness, quality, and coverage. UniMap enables rapid generation of digital maps and custom location-based products, incorporating diverse data types into a unified map with rapid updates reflecting physical environment changes within 24 hours. Its centralized environment ensures continual accessibility for customers, exemplifying cutting-edge technology in the micro-location technology landscape.
In March 2022, Zebra Technologies, a US-based mobile computing company, acquired Matrox Imaging for $875 million. Matrox is recognized for its development of advanced machine vision components and systems. This acquisition aims to expand Zebra's offerings in the rapidly growing automation and vision technology solution sector. By leveraging Matrox's expertise, Zebra intends to enhance its capabilities in delivering high-performance imaging solutions tailored to the evolving needs of various industries. Matrox Imaging is a Canada-based company that specializes in advanced machine vision components and systems.
Major companies operating in the micro-location technology market are Apple Inc., Cisco Systems Inc., Google LLC, CenTrak Inc., Humatics Corporation, Hewlett Packard Enterprise Development LP, Sewio Networks, Siemens AG, Zebra Technologies, Ubisense Group, Aruba Networks, Kontakt.io, Ruckus Networks, Estimote Inc., Camco Technologies nv, Quuppa Intelligent Locating System, Mist Systems, Inc., DecaWave Limited, Redpine Signals, Visible Assets Inc, Gimbal Inc., Bluvision, Pole Star, Inpixon, Pointr, IndoorAtlas Oy, KIO RTLS, Locatify, MERIDIAN, Navisense GmbH, sensewhere Ltd., Hexagon AB, Broadcom Inc., MiTAC Digital Technology Corporation
North America was the largest region in the micro-location technology market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micro-location technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the micro-location technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The micro-location technology market consists of revenues earned by entities providing services such as indoor positioning, streamlining manufacturing, tracking services, remote controlling, and preventing accidents. The market value includes the value of related goods sold by the service provider or included within the service offering. The micro-location technology market also includes sales of auto-follow video cameras, high-end drones, connected lightbulbs, sono speakers, and connected vehicles. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Micro-Location Technology Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on micro-location technology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for micro-location technology ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The micro-location technology market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.