Indoor Maps and Services to Reach Over $2.5 Billion by 2017
The indoor location and application market is now entering a new phase of growth, with retailers launching nationwide implementations, yet questions remain over the value of indoor maps.
Senior analyst, Patrick Connolly said, “This is a market that is undergoing rapid growth, reaching 500,000 maps by 2015. Most companies are currently using a monthly license fee ($20-$1000), but business models are already changing, with all leading indoor mapping companies now expanding into application development, indoor location technologies, analytics, and advertising. Increasingly, the bulk of revenues will come from these emerging areas.”
One of the major findings of the report was the importance of retail, in particular the grocery, clothing, DIY/warehouse, and shopping mall verticals. Google’s current strategy of free but inaccessible maps has led to disillusionment, with retailers now more than happy to pay to own the maps, and build applications and services themselves. The report also highlights the enterprise market, where maps will bring staff, production, and building efficiencies, as well as providing new health and safety features.
Vice President and practice director, Dominique Bonte said, “The report identifies a number of potential winners and losers in this space. Companies are scrambling to combine all the necessary pieces for hyper local advertising, with mapping an essential component.”
ABI Research’s latest report, “Indoor Maps: Winners, Losers, and Revenues,” provides forecasts on indoor map penetration and revenues, split by 12 key vertical markets. The report also forecasts the expansion into future revenue streams, including advertising, coupons/offers, and customer analytics. These findings are part of ABI Research’s new Location Technologies Research Service which includes additional Competitive Analyses, Vendor Matrices, Market Data, and Insights.
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