Micro-Location Technology Market is estimated to be US$ 96.01 billion by 2030 with a CAGR of 19.6% during the forecast period
With the use of contextualised messaging, micro-location technology enables marketing and micro-localization in order to connect with customers near a particular product, close to a business, or inside a certain industry. It makes it possible to perform tasks like proximity marketing, circulation mapping, and e-commerce data for physical establishments. The lack of effectiveness of GPS in indoor premises and the rising popularity of mobile devices are the two main factors propelling the growth of the global market. Additionally, the need to provide a distinctive consumer experience in the retail and hospitality sectors is accelerating global market growth.
Region Analysis:
APAC is anticipated to overtake North America in terms of market value. Since the micro-location solution is the best way to track the assets or people in organisations in real time, APAC is one of the potential markets for asset management solutions based on micro-location technologies. It is anticipated that APAC will experience the highest CAGR in the overall market during the forecast period.
Key Development:
· In June 2018, Cisco System acquired “July Systems,” a provider of highly scalable SaaS cloud-based middleware platform for location services provides. July Systems is now an OEM partner of Cisco Systems, and its solution has been branded as Cisco CMX Engage. It is a cloud-based solution available through a subscription an enterprise-grade engagement platform, and it features instant customer activation, data-driven behavioral insights, contextual rules engine, and APIs.
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Segmentation:
The global Micro-Location Technology Market accounted for US$ 15.9 billion in 2020 and is estimated to be US$ 96.01 billion by 2030 and is anticipated to register a CAGR of 19.6%. The global Micro-Location Technology Market is segmented based on type, application, and region.
· On the basis of type, the global Micro-Location Technology Market is segmented into Ultra-wideband (UWB), Wi-Fi, RFID, and BLE.
· On the basis of Application, the global Micro-Location Technology Market is segmented into Retail & Hospitality, Healthcare, Industrial, Transportation, and Sports.
· On the basis of region, the global Micro-Location Technology Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Analysis:
The key players operating in the global Micro-Location Technology Market includes Cisco Systems, Inc., Aruba Networks, Inc., Humatics Corporation, Estimote, Inc., Ruckus Networks, Inc. Zebra Technologies Corp., CenTrak, Inc., Ubisense Ltd., Camco Manufacturing, Inc. and Siemens Corp..
