IMARC Group

Indoor LBS Market exhibiting a CAGR of 19.9% during 2022-2027

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According to IMARC Group’s latest report, titled “Indoor LBS Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global indoor LBS market reached a value of US$ 10.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34.0 Billion by 2027, exhibiting a CAGR of 19.9% during 2022-2027. Indoor location-based service (LBS) is a technological solution utilized to track the location of an object or an individual inside a confined space. LBS solutions are limited to small geographical perimeters and operate through various wireless networks, such as global positioning system (GPS), Wi-Fi, microelectronic mechanical system (MEMS), wireless local area networks (WLAN), etc. Indoor LBS also provides customized information to smartphone users, including mapping and navigation, in-store product search, Bluetooth-assisted proximity services, mobile payments, etc. As a result, these solutions find widespread applications across several sectors, such as aerospace, defense, BFSI, healthcare, retail, hospitality, transportation, etc. Request Free Sample Report: https://www.imarcgroup.com/indoor-lbs-market/requestsample Market Trends The expanding number of infrastructure development projects and the rising utilization of geospatial data in recreational parks, educational institutes, retail malls, commercial complexes, hospitals, etc., are primarily driving the indoor LBS market. Besides this, the elevating popularity of connected devices, including tablets and smartphones, that assist marketers in conducting efficient geo-marketing by targeting potential customers through social check-ins and engaging with their audience by offering customized offers is further augmenting the market growth. Apart from this, the escalating requirement for LBS solutions to provide enhanced assistance and security to the authorities for monitoring and tracking public activities is also catalyzing the global market. Moreover, the inflating usage of various technologies, such as artificial intelligence (AI), cloud computing, and Big Data tools, in business process optimization and determining the plan layout for implementing lean manufacturing processes is anticipated to bolster the indoor LBS market over the forecasted period. Ask Analyst and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/indoor-lbs-market The report has segmented the market on the basis of solution type, technology, application, vertical and region. Breakup by Solution Type: Breakup by Technology: Breakup by Application: Breakup by Vertical: Breakup by Region: About Us IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. Contact US: IMARC Group 30 N Gould St, Ste R Sheridan, WY 82801, USA Website: https://www.imarcgroup.com/ Email: sales@imarcgroup.com USA: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800 Follow us on twitter: @imarcglobal