Indoor LBS is used to track the location of an object or people within a building or specific location such as a university campus or shopping mall. Indoor LBS is confined to a limited geography; hence, it uses only wireless networks such as Wi-Fi and WLAN, which cover a small area. In addition, indoor LBS requires high accuracy to determine the position of the object or device. It uses positioning technologies based on Wi-Fi, WLAN, UWB, Bluetooth, A-GPS, MEMS, and other hybrid technologies to determine the location of a searched object. Indoor LBS is mainly used in universities, hospitals, stadiums, shopping malls, government offices, airports, museums, convention centers, hotels, resorts, and parking areas.
“The technology has evolved a lot in the past few years,” says Faisal Ghaus, Vice President of TechNavio Research.
“Advancements in positioning technology and survey methodology have enabled easy determination of the location of a smart device.”
The presence of large players such as Google and HERE as well as innovative map platform providers has intensified competition in the market, and generated better quality services for users. The major players in the market such as Google, Point Inside, Micello, FastMall, and HERE, cumulatively covered more than 25,000 venues in the US, and this is expected to increase to almost 200,000 by 2016.
“The sheer availability of indoor maps will in itself account for a good amount of market growth,” says Ghaus.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.