What is Indoor Positioning Systems Market?
Indoor positioning system technologies use sensors, magnetic positioning, and BLE technology to accurately track users in enclosed spaces. It can help people navigate sprawling facilities such as hospitals, museums, and university campuses. GPS is a very popular and effective technology for mapping outdoor locations with very high accuracy and has been used for a very long time. The indoor positioning system market has seen many innovations and large participation from companies around the world. GPS essentially uses cell towers and satellites to track a user's location coordinates. One major limitation, however, is the inadequacy of mapping indoor locations with high precision. GPS cannot work indoors. The growth of the indoor positioning systems market is gaining acceptance due to the cost-effectiveness of LBS, the limitation of GPS usage to the outdoor environment, and the increasing adoption of indoor positioning applications. It is expected that the apps for indoor positioning systems will experience enormous demand in the coming years. In addition, many governments around the world are trying to take advantage of these technologies. Hence, they encourage huge investments in R&D and other innovations in this area. This in turn should offer the market lucrative growth opportunities in the forecast period.
The market study is being classified, by Application (Navigation & Positioning, Location-Based Promotion, Geo-Fencing, Asset Tracking, Emergency Services and Others) and major geographies with country level break-up.
Pozyx labs (Belgium), RealTrac International (Switzerland), Apple Inc. (United States), Broadcom Inc. (United States), Cisco Systems Inc. (United States), HERE Technologies (Netherlands), Microsoft Corp. (United States), Nextome Srl (Italy), Qualcomm Inc. (United States), Inmotio (Netherlands), Senion AB (Sweden), Acuity Brands (United States), Zebra Technologies Corporation (United States), Essensium (Belgium) and Septentrio N.V. (Belgium) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Trimble Navigation Limited (Canada), NovAtel Inc. (Canada), Insoft GmbH (Germany) and Telit (United Kingdom).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Players will contribute to the maximum growth of Global Indoor Positioning Systems market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Indoor Positioning Systems market by Type, Application and Region.
On the basis of geography, the market of Indoor Positioning Systems 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The Rise In The Demand For Solutions In Hospitals, Airports, Train Stations, Hotels, University Buildings, Warehouses, And Shopping Malls
- The Rising Adoption of Bluetooth Beacons
- Increasing Customer Awareness
- Rising Demand for Proximity Marketing
- Growing Integration of Beacons in Cameras, LED Lightings, POS Devices, and Digital Signage
Market Trend
- Rising Demand for Indoor Location Technologies to Support Lean Automation and Robotic Processes
- The Proliferation of Smartphones, Connected Devices and Location-Based Applications among Customers
- An Upsurge in Inefficiency of the GPS in an Indoor Environment
Restraints
- The Rise in Concerns Regarding Data and Security
- Implementation of Stringent Government Rules and Regulations
Opportunities
- High Emphasis on Industry 4.0 Smart Cities and Smart Manufacturing
- Demand for RFID Tags across the Retail Industry Extend Profitable Opportunities
- Adoption of IoT-Enabled Devices in Indoor Positioning
Challenges
- Lack of Skills and Awareness about Indoor Location Technologies
Market Leaders and some development strategies
On January 24, 2018, Here Technologies, a mapping company valued at approximately USD 3 billion, acquired Micello, a California-based company that operates a platform for creating, editing, and publishing indoor maps. This acquisition would thereby support HERE's strategy for providing world-class mapping and advanced location services for both the indoors and outdoors. In combination with HERE's unique tracking technologies, indoor maps enable new and innovative market solutions such as tracking parts in a factory floor, optimizing the use of the work area, finding indoor directions at complex traffic junctions, and guiding the last mile in vehicles.
Apple Inc. had released an update for the Indoor Survey application with a completely new design, a new survey workflow, map notes, and much more. The indoor surveying app has been completely redesigned to make surveying indoor spaces faster and easier.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Indoor Positioning Systems, Venture Capitalists and Private Equity Firms and End-Use Industry