Indoor Location Retail Revenues to Break $5 Billion in 2019

Indoor location technologies continues to evolve at an incredibly rapid pace, with a host of new technologies and companies entering the fray in 2014. The result will be an acceleration of adoption across all major verticals as a slew of new services and revenue opportunities emerge.In ABI Research’s latest report, “Indoor LBS: Applications, Advertising, and Revenues”, the indoor location opportunity is considered across 11 retail verticals and all major technologies, split by region. The report forecasts that initially analytics revenues will drive growth creating a platform on which to build future advertising opportunities. Senior analyst Patrick Connolly comments, “In 2014 a number of major retailers are approaching the end of their trial periods and we should start to see a step increase in deployments. iBeacons/BLE will also help to drive awareness and acceptance but are by no means the silver bullet here. Most importantly, retailers now understand the need to address the newly emerging smartphone shopper. Analytics is a fundamental first step, but longer term, a combination of targeted in-store offers, hyperlocal search and in-application advertising will drive $5 billion in revenue in 2019, enabling retailers to better reach their customers both in-store and at home.”