The indoor positioning and navigation system market forecast is developing at a fast speed. Indoor positioning and navigation (IPN) systems collect significant market noticeable quality, turning into an unmistakable position-mindfulness innovation. IPN systems are seen as a significant and must-have highlight in specialized gadgets. In addition, IPN has gathered enormous business premium, which has considered well its market globally.
In addition, significant RD ventures kept on ascending in IPN innovation, close by the unavoidably further developing help quality and usefulness raise the market valuation. As indicated by Market Research Future (MRFR), the global indoor positioning and navigation system market valuation is relied upon to arrive at USD 24 BN by 2023, developing at 30.5% CAGR all through the figure period (2018 - 2023).
Furthermore, the market growth credits to different benefits of IPN systems in uber size fabricating offices, stockrooms, and gigantic structures. The rise of a scope of strong sensors and remote association systems has permitted the advancement of more viable IPN systems. Likewise, solid growth in the RFID section and quick executions in different innovative applications validate market growth.
Be that as it may, contrasted with GPS, IPN is a complicated position mindfulness system. Additionally, simplicity of availability that prompts digital dangers and issues with respect to unstructured information stockpiling are the central point anticipated to hinder market growth. All things considered, the rise of proficient innovations, progressed gear, and the accessibility of crisis correspondence administrations would uphold market growth all through the survey period.
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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.
Players leading the global indoor positioning and navigation system market include Trimble Inc., Septentrio N.V., NovAtel Inc., Telit Communications PLC, Insoft GmbH, Senion AB, Galileo Satelite Navigation Ltd., Tersus GNSS Inc., and Zebra Technologies Corporation, among others.
Industry/ Innovation/ Related News:
April 24, 2020 ----- Apple Inc. (the US), a multinational technology company, announced its partnership with a UK-based augmented reality startup, Dent Reality, to become a driving force in indoor navigation. Dent Reality is an augmented reality platform that helps users find their favorite products on the market.
The new partnership with Apple Maps could have wide-ranging implications for the Apple Indoor Maps program and augmented reality programs. Apple has been rigorously working on AR systems for years, developing platforms like ARKit. Apple is still working on bringing AR to applications like cars and head-mounted devices.
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IPN System Industry, by Component (Hardware, Software), by Technology (UWB,Bluetooth Low Energy, RFID, Cellular, WLAN) by Platform (Anroid Based, iOS Based), Forecast to 2027
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