The indoor positioning and navigation system market is
growing at a rapid pace. Indoor positioning and navigation (IPN) systems garner
substantial market prominence, becoming a prominent position-awareness
technology. IPN systems are viewed as an important and must-have feature in
communication devices. Besides, IPN has garnered tremendous commercial
interest, which has reflected favorably on its market globally.
Moreover, substantial R&D investments continued
to rise in IPN technology, alongside the inevitably improving service quality
and functionality escalate the market valuation. According to Market Research
Future (MRFR), the Indoor Positioning and Navigation System Market share
is expected to reach USD 92.36 Billion by 2030, expanding at a compound annual
growth rate (CAGR) of 32.56% during the forecast period.
Additionally, the market growth attributes to
various advantages of IPN systems in mega-size manufacturing facilities,
warehouses, and massive buildings. The emergence of a range of powerful sensors
and wireless connection systems has allowed the development of more effective
IPN systems. Also, healthy growth in the RFID segment and rapid implementations
in various technological applications substantiate market growth.
However, compared to GPS, IPN is a complex position
awareness system. Moreover, ease of accessibility that leads to cyber threats
and issues regarding unstructured data storage are the major factors predicted
to impede market growth. Nevertheless, the emergence of adept technologies,
advanced equipment, and the availability of emergency communication services
would support market growth throughout the review period.
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Competitive Landscape:
The
prominent key players of the IPN market in the global market are mentioned down
below.
- Google
- Inpixon
- Hewlett
Packard Enterprise Development LP
- Juniper
Networks, Inc.
- HID
Global Corporation
- Microsoft
- Apple
Inc.
Indoor Positioning and Navigation System Market –
Segments
The report is segmented into four dynamics;
By Technology
: Wi-Fi, UWB, Bluetooth Low Energy (BLE), Cellular
based, RFID, Lo-Ra, and others.
By Component
: Hardware (Cameras, Sensors, RFID tags, Networking
devices, others) and Software/Apps.
By Platform
: Android-based, iOS-based, and others.
By Regions
: Asia Pacific, North America, Europe, and
Rest-of-the-World.
Indoor Positioning and Navigation System Market –
Regional Analysis
North America dominates the global indoor
positioning and navigation system market. The largest market share attributes
to the vast technological advances and the strong presence of notable market
players in the region. Mexico, Canada, and the US drive the IPN system market
in North America.
Among these countries, the US, with its indoor
positioning and navigation system named NAVSTAR GPS, accounts for the largest
share in the regional market. The US is also known as the global technological
hub, which has led to the early adoption of innovative technologies in the
region. The North American positioning and navigation system market is
projected to retain its dominance, growing at 28.3% CAGR throughout the review
period.
Europe stands second in the global indoor positioning
and navigation system market. Market growth is driven by the increasing
adoption of GPS services and cloud-based services. Additionally, the
proliferation of smart connected devices boosts the market growth, providing
enormous opportunities across businesses.
The increasing use of navigation services and
solutions in the region provides a better scope for the European countries to
advance in location-based services. Germany, Netherlands, and the UK are
rapidly growing markets for navigation systems. The European indoor positioning
and navigation system market is anticipated to show a rapid rate through the
forecast period, creating a valuation of USD 6.39 BN by the end of 2023.
The Asia Pacific region is gradually emerging as a
promising market for indoor positioning and navigation systems globally.
Factors such as the demand for advanced IT products and services from several
industrial sectors and the positive economic expansions in developing countries
such as China, India, Japan, and others influence the regional market
growth.
Furthermore, the presence of large telecom
industries and the proliferation of smartphones increase the application scope
for navigation systems in the region. The region is also showing immense
potential for increased investments in new satellite programs. The APAC indoor
positioning and navigation system market is expected to create a substantial
revenue pocket, growing at 34%CAGR over the forecast period.
Global IPN System Market – Competitive
Analysis
The indoor positioning and navigation system market
appears to be competitive, owing to the presence of numerous well-established
players. Mergers & acquisitions, innovation, and collaborations are the key
trends for the leading players to gain a larger competitive share in the
market.
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Indoor Positioning and Navigation System Industry
Developments:
January (2023): Indoor positioning company
Bluvision raises $10 million in Series A funding.
February (2023): Apple
releases iOS 15 with new indoor maps features for airports, shopping malls, and
other large venues.
March (2023): Google
releases Android 12 with new indoor positioning features for retail stores and
other businesses.
April (2023): Indoor
positioning company Ubisense announces partnership with Siemens to bring indoor
navigation to industrial facilities.
May (2023): Indoor positioning company
IndoorAtlas releases new SDK that makes it easier to build indoor positioning
apps.
June (2023): Indoor positioning company
Wifarer announces partnership with the City of London to bring indoor
navigation to public spaces.
These are just a few of the many indoor positioning
and navigation industry developments that have happened in 2023. The market for
indoor positioning is growing rapidly, and we can expect to see even more
innovation in the coming years.
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About Market Research Future (MRFR):
Market Research Future (MRFR) is
a global market research company that takes pride in its services, offering a
complete and accurate analysis with regard to diverse markets and consumers
worldwide. MRFR’s approach combines the proprietary information with various
data sources to give an extensive understanding to the client about the latest
key developments, expected events and also about what action to take based on
these aspects.
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