Portuguese startup Azitek ranks in Top Indoor Location Markets globally

Portuguese startup Azitek ranks in Top Indoor Location Markets globally - Portugal Business News

Portugal news - Portuguese startup Azitek ranks in the Top Indoor Location Markets globally, according to a new report by MarketsandMarkets.

Azitek is a startup based in Porto, Portugal, specializing in proprietary RFID systems with high-accuracy technology. The innovative system combines long-range tracking with precision capabilities, utilizing cost-effective and long-life tags to deliver unparalleled asset visibility and unlock new applications beyond traditional RFID.

Azitek completed a 750,000 euros funding round led by Beta Capital, in co-investment with Portugal Ventures as the initial investor and Cedrus Capital in June 2024, bringing the capital raised by the Portuguese startup incubated at UPTEC in Porto to over €1 million.

The Indoor Location Market is projected to grow from USD 11.9 billion in 2024 to USD 31.4 billion by 2029, at a CAGR of 21.4% during the forecast period, according to a new report by MarketsandMarkets™. The indoor location market is predicted to grow quickly due to the demand for indoor positioning systems including navigation and asset tracking services. Various retail stores integrate beacons and Wi-Fi with in-store signage systems that give customers the remote control to decide what product information or details they want to see.

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report. It provides growth consulting and program management solutions, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space.

Here is the list of Top Companies in the Indoor Location Market globally:

1 - Zebra Technologies (US),

2 - Cisco (US),

3 - Google (US),

4 - Microsoft (US),

5 - HPE (US),

6 - Apple (US),

7 - Esri (US),

8 - Acuity Brands (US),

9 - Inpixon (US),

10 - HERE Technologies (US),

11 - HID Global (US),

12 - CenTrak (US),

13 - Sonitor (Norway),

14 - Ubisense (UK),

15 - infsoft (Germany),

16 - Polaris Wireless (US),

17 - Quuppa (Finland),

18 - Securitas Healthcare (US),

19 - Navigine (US),

20 - Blueiot (China),

21 - Kontakt.io (US),

22 - AiRISTA (US),

23 - InnerSpace (Canada),

24 - Syook (India),

25 - Oriient (Israel),

26 - Navenio (England),

27 - Situm (Spain),

28 - Pozyx (Belgium),

29 - Azitek (Portugal),

30 - Mapxus (China).

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