GCC Indoor LBS Market Size, Opportunities and Outlook To 2025

 

The GCC indoor location-based services market for is anticipated to reach USD 1246 million by the end 2025, according to a new report released by Million Insights. In projected to attain a CAGR of 48.3% from 2017 to 2025. Rising adoption of 3D technology and increasing prevalence of smartphones across the GCC region are anticipated to drive the market growth. Moreover, emergence of cities like Dubai as famous tourist destination is creating potential opportunities for indoor LBS to provide marketing and promotional services to the customers. In addition, rising government investments for providing internet connectivity across the GCC region is anticipated to further propel the market growth from 2017 to 2025.

 

One of the biggest challenges for the vendors or service providers in this industry is providing accurate and real-time data to their consumers. Therefore, manufacturers are adopting emerging technologies such as business intelligence (BI) and analytics to cater to such challenges. The GIS technology enables tracking valuable assets and navigating various locations through tables and smartphones. This feature is projected to fuel the market growth in the forthcoming years.

 

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The segment of proximity beacons is projected to attain the fastest growth over the forecast period owing to its easy installation and affordability. In addition, these services provide convenience to users who prefer to access information through tablets and smartphones instead of reading the traditional signboards. These factors are projected to fuel the market growth in the GCC region from 2017 to 2025.

 

To avoid the risks of data breaching and misuse of valuable information, the GCC indoor LBS market has certain security regulations. Thus, service providers need to follow certain norms and regulations imposed for local governing bodies to avoid data breaching and information misuse.

 

Further key findings from the report suggest:

• The segment of proximity beacons is projected to grow at the fastest CAGR of 53.2% owing to its easy installation and cost-effectiveness.

• The proximity application segment is anticipated to grow at the fastest CAGR of 52.8% from 2017 to 2025.

• The retail end-use segment is projected to attain the fastest CAGR of 52.9% from 2017 to 2025

• Saudi Arabia held the largest market share of more than 46% in 2016 owing to high gross domestic product (GDP) of the country.

• Leading players in this industry are Cisco Systems Inc., Apple Inc., GloPos, HERE, Google Inc., iinside, Micello, Inc., IndoorAtlas Ltd., Microsoft Corp., Qualcomm Technologies Inc., Navizon Inc., Ruckus Wireless, Inc., Sprooki Pte Ltd., YOOSE Pte. Ltd., and Shopkick, Inc.

 

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