According to a recent report by ABI research, the indoor location and application market is expected to reach over $2.5 billion by 2017. With retailers launching nationwide implementations , this market is now entering a new phase of growth.
Patrick Connolly, Senior analyst, ABI Research, 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.”
The report also found the importance of retail, in particular the grocery, clothing, DIY/warehouse, and shopping mall verticals. Now retailers are ready 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.