Indoor Positioning and Navigation Market Scope
Like GPS it is a navigation and positioning system that is used to track or detect the real-time location of person, objects, or assets with the help of various technology such as Wi-Fi, Bluetooth, Infrared sensors, etc. The system allows users to easily navigate, locate, and find ways in large infrastructure. However, the increasing adoption of IoT and Magnetic sensors in the IPIN system to access accurate location and precision is expected to boost the market. Public places such as airports, malls, university buildings, etc. are highly adopting IPIN systems will create many lucrative opportunities for the global indoor positioning and navigation market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Esri (United States), IndoorAtlas Ltd (Finland), Pole Star (Sweden), TRX Systems (United States), ViewAR (Austria), XPONIA (Switzerland), AiRISTA Flow (United States), Connexient (United States), Inpixon (United States) and InnerSpace (Canada) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Indoor Positioning and Navigation market throughout the predicted period.
Esri (United States), IndoorAtlas Ltd (Finland), Pole Star (Sweden), TRX Systems (United States), ViewAR (Austria), XPONIA (Switzerland), AiRISTA Flow (United States), Connexient (United States), Inpixon (United States) and InnerSpace (Canada) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Indoor Positioning and Navigation market by Type , by Application (Indoor Navigation, Magnetic Positioning and Indoor Localization) and Region with country level break-up.
On the basis of geography, the market of Indoor Positioning and Navigation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September 2019, Connexient partnered with Intelligent Locations to provide digital wayfinding and real-time location system service to healthcare customers. Connexient is a leading indoor positioning solution provider for the healthcare sector and with this partnership, the companies will deploy unified location architecture at all four hospitals in the Cone Health System by leveraging Bluetooth low energy beacon infrastructure.
In November 2019, Racelogic introduced a new indoor positioning system VIPS to measure real-time 3D position to an accuracy of ±2cm in indoor facilities. It has been designed for the application that requires accurate measurement and recording of 3D positioning and enables GPS based technologies to operate in GPS denied environments.
Influencing Trend:
Use of Advanced Technologies and IoT or Magnetic Sensors to Access Accurate and Real-time Position.
Market Growth Drivers:
Growing Infrastructural Developments to Build Smart Cities. and Rapidly Increasing Demand for Indoor Positioning and Navigation to Navigate Inside Large Facilities, and Locate People, Objects & Devices Inside the Facility.
Challenges:
Lack of High-speed Internet Connectivity.
Restraints:
High Cost of Installation As It Requires to Install Hardware for Navigating Service.
Opportunities:
Prompt Adoption of Indoor Positioning and Navigation at Various Public Places.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Indoor Positioning and Navigation Solutions and Service Providers, Suppliers and Distributors of Indoor Positioning and Navigation Physical Appliances, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Use Industry and Others