Bamberg, 14th March 2022 – Favendo, a German expert for reliable Real Time Location Services for indoor and complex environments, today announced that it is recognized as Honorable Mention in the 2022 Gartner Magic Quadrant for Indoor Location Services, Global1.
“We consider to be honorably mentioned in this year’s Gartner Magic Quadrant for Indoor Location Services, a confirmation of our efforts, that makes me and my team proud,” says Stefan Balduf, CEO of Favendo.
“The Corona pandemic did not make the past years easy for us either, but still, we see an increasing demand in the Indoor Location Services sector, and we feel confirmed in this by Gartner’s recognition. With the launch of our Favendo Viewer, a front-end solution for tracking assets in real time, we have significantly expanded the portfolio we can offer our customers at the start of the new year. Thanks to our strong partner network, we can provide solutions that are tailored to our customers’ use cases and their requirements in terms of accuracy, latency and coverage.”
According to Gartner, “Through 2021, the indoor location market continued to evolve as new markets began to realize the value of knowing the location of people and assets. As it evolves, growth is becoming exponential as Gartner projects the indoor location services market to reach $55 billion revenue by 2030, up from $1.9 billion in 2021.”1
1) Gartner, “Magic Quadrant for Indoor Location Services, Global”, Tim Zimmerman, Annette Zimmermann, 23rd February 2022.
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Since 2014, Favendo has built a solid reputation as a provider of mobile tracking and navigation solutions for indoor and complex environments such as cruise ships, airports, sports stadiums or manufacturing plants. In recent years, Favendo has developed its expertise primarily in asset tracking for various industries. These include healthcare, mining, or manufacturing. For this, Favendo was positioned by Gartner in the Niche Players quadrant of the 2021 Magic Quadrant for Indoor Location Services, Global. Favendo relies on a broad partner network consisting of technology partners such as Quuppa and Actility for high-precision location solutions and seamless indoor & outdoor tracking. This is complemented by industry-specific partnerships with IoT platform providers such as Philips Healthcare and IGO. Favendo also partners with the ArubaEdge program and omlox to provide the most appropriate location technology for Industry 4.0 use cases.