Indoor Positioning and Indoor Navigation System (IPIN) as the name suggests, supports wireless navigation within buildings. The system is used to locate people and objects in the closed surrounding such as building large office buildings, factories, hospitals, university building, malls and others. Since the GPS reception is generally not available indoors, this system uses different positioning technologies instead of automatic positioning, such as beacons (Bluetooth Low Energy, BLE) or Wi-Fi.
Over the past few years, the IPIN systems have significantly evolved, Offering several devices and solutions, ensuring better connectivity. Therefore, they are utilized for a number of functions including navigation, tracking, and positioning among others. Due to the accuracy in positioning, routing & guiding people in closed premises, IPIN system witness a substantial demand. Attributing to the enormous demand and adoption in various industries such as Consumer Electronics for Smartphone, Tablet or PC, Transport & Logistics, IT, Entertainment and Healthcare, among others, the global IPIN market is ever increasing.
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Acknowledging the impressive growth records, the global IPIN Market perceives, Market Research Future (MRFR) recently published a study report giving out the complete market forecast till 2022. In its analysis, MRFR asserts that the global Indoor Positioning and Indoor Navigation System market will escalate to USD ~ 25 Billion, registering a whopping ~30 % CAGR during the review period(2016 – 2022).
Simultaneously, IPIN devices and solutions also, find their applications in sectors such as oil & gas, mining and other related industries, which drives the market growth of IPIN system. The market proliferation of smartphones, Tablets & Laptops provides impetus to the market growth of IPIN system. Growing digitalization, usage of smartphones and emergence of mobile applications, and mobile commerce are contributing to the growth of the indoor location market.
Governments’ initiatives & investments to develop better positioning technology for public safety and urban security segment are increasing the demand for indoor location solutions, and hence, the market growth of IPIN system. Other factors defining the growth landscape for the market include growing population, urbanization and industrialization worldwide. Improving economic conditions across the globe are fostering the market growth, enabling access to the quality life & improved purchasing power. Seminal efforts &investments, transpired into the development of technology, are paying off well, bringing innovations and driving the market growth.
MRFR has segmented Global Indoor Positioning and Navigation System Market into five key dynamics for the convenience of the report and enhanced understanding;
By Types: Comprises Indoor Location Based Analytics, Indoor Navigations and Maps, among others.
By Technologies: RFID, Cellular, WLAN (IEEE 802.11), and Bluetooth (IEEE 802.15), among others.
By Verticals: Consumer Electronics (Smartphone, Tablet/PC), Transport & Logistics, IT, Entertainment and Healthcare, among others.
By Applications: Navigation, Location Based Promotions, Positioning, and Geo-Fencing among others.
By Regions: North America, Europe, APAC and Rest of the World.
Globally, North America leads the market for IPIN System with the largest market share. Factors such as the increasing investments transpired into the development of technologies, the presence of the fervent market players that can offer cutting-edge technologies and increasing adoption of this system in the healthcare & consumer electronics sector drives the regional market growth. Continuing with the same growth trends, the region is expected to retain its dominance in the global market.
Whereas the Europe market accounts for the second largest market for the IPIN System owing to the demand from the various sectors. The resurging economy in the region too contributes to the market growth significantly. Moreover, augmented uptake of this system due to the ensured better connectivity of advanced indoor positioning and Indoor navigation system devices and solutions fuels the regional market.
On the other hand, Asia Pacific region is expected to witness a healthy growth, emerging as the fastest growing market for the Indoor Positioning and Indoor Navigation System. Factors such as increasing urbanization & growing consumer electronics sector coupled with the improving economy in the region fosters the market growth.
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