Global Indoor Positioning and Navigation System Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Risk and Opportunity Assessment, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
Trimble Inc., Septentrio N.V., Telit Communications PLC, NovAtel Inc., Tersus GNSS Inc., Senion AB, Zebra Technologies Corporation, Galileo Satelite Navigation Ltd., and Insoft GmbH are among top-notch market players mentioned in MRFR’s report.
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IPN systems address more complicated technological barriers as they facilitate wireless position-awareness services in closed surroundings such as buildings, warehouses and large industrial facilities. IPNs do not work on conventional systems and rather employ Wi-Fi, Bluetooth or RFID for the purpose. Wi-Fi based navigation and positioning systems are highly accurate and are witnessing a fast adoption. More robust IPN systems have arrived in recent years, having diverse features. In addition, constant focus towards improving wireless technologies, battery capacity, hardware has been imperative to the evolution of IPN systems.
According to the latest report of Market Research Future (MRFR), the global indoor positioning and navigation (IPN) system market is expected to surpass the substantial market valuation of USD 24 billion by the year 2023, at a remarkable CAGR of 30.5%. IPN has garnered incredible commercial interest, which has reflected positively on its global market. Investments have continued to rise in towards the research and development activities to enhance and explore the IPN technology, consequently improving the service quality and functionality offered by providers. IPN is anticipated to witness a rapid adoption over the review period, owing to its various advantages. Such technologies can substantially benefit large-scale manufacturing facilities, warehouses, and massive buildings. Furthermore, the accessibility of advanced sensors and wireless connection systems has allowed the advancement of more effective IPN systems. These influential factors are expected to contribute significantly towards the growth of the global indoor positioning and navigation system market over the review period.
The incessant advances in the telecommunication technology, which is integrated with latest computing technologies has led to the development of various other new-age mobile systems, including location-awareness services. While most communication devices are now fully capable of outdoor geo-location services, indoor positioning and navigation (IPN) needs has a bit of catching up to do. Performance of mobile communication has improved dramatically over the recent years. Mobile technology is extremely dynamic and continues to become more and more relevant with the passing time. Indoor positioning and navigation system is one such mobile technology that is gaining a quick momentum. Market Research Future (MRFR) projects that the global indoor positioning and navigation system market will surpass a valuation of USD 24 Bn in 2023 up from USD 5.21 bn in 2017, expanding at strong growth rate.
- Tourism industry
- Shopping Centers
- Airports and Railway Stations
- Marketers and consumers
- Proximity device manufacturers
- Public safety agencies
- Smartphone companies
In MRFR’s report, the Global Indoor Positioning and Navigation System Market has been segmented based on the technology, component, and software/apps.
Based on technology, the indoor positioning and navigation system market has been segmented into Wi-Fi, ultra-wideband (UWB), cellular-based, Bluetooth low energy (BLE), RFID, Lo-Ra. Among these, the UWB segment accounts for the largest market share over the forecast period. The RFID segment is also anticipated to observe healthy growth during the forecast period, at the highest CAGR of 33.3% over the review period. This can be attributed to its rapid implementation in various technological applications.
Based on the component, the market has been segmented into hardware and software/apps. The hardware segment has been sub-segmented into cameras, RFID tags, sensors, networking devices. The hardware segment is expected to surpass the software/app segment in terms of market share during the evaluation period. The hardware segment is projected to reach a substantial valuation at a CAGR of 31.1% over the review period.
Based on the platform, the market has been segmented into iOS-based, Android, and others. The android-based segment dominates the market share over the review period. Meanwhile, the iOS segment is projected to display the highest CAGR during the forecast period.
On the basis of region, the indoor positioning and navigation system market has been segmented into South America, North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
North America is observed as the largest region in the global positioning and navigation system market and is expected to retain its leading market share over the review period, at a CAGR of 28.3%. This growth can be accredited to the presence of significant market players in the region, especially in developed countries such as the U.S. and Canada. THE U.S. is also known as the global technological hub, which has led to the early adoption of innovative technologies in the region.
Europe is considered one of the significant regions in the global indoor positioning and navigation system market and is accounted for the second-largest market share of USD 6.39 billion by the end of 2023.
The Asia Pacific is assessed as the fastest-growing region of the global indoor positioning and navigation system market and accounts for the highest CAGR of 34% over the review period. This can be attributed to the positive economic expansions taking place in the region, especially in developing countries such as China, India, Japan, among others. Moreover, the demand for advanced IT products and services from several industrial sectors is also likely to contribute substantially towards the market share acquired from the Asia Pacific over the forecast period.
Market Research Future (MRFR) employs its multi-layer analysis module for deliverance of rich quality market insights. A comprehensive research methodology is utilized to conduct in-depth study of historical and current market trends, latest developments, growth opportunities, consumer landscape and challenges. The combination of primary and secondary sources aids in forming a strong foundation for qualitative and quantitative assessment of macro-economic indicators and governing factors of the market. Primary data is collected by conducting detailed surveys and first-hand interviews with the key opinion makers across the value chain. Verification of primary data is carried out through inputs from SEC filings, white paper references, research publications, paid databases and other credible sources available in public domain. Additionally, top-down and bottom-up approaches are leveraged to extrapolate research findings and strong data triangulation technique is employed for the verification of extrapolated data.
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TABLE OF CONTENTS
1. Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
5. Market Factor Analysis
5.1 Value Chain Analysis/Supply Chain Analysis
5.2 Porters Five Forces
5.2.1. Bargaining Power Of Suppliers
5.2.2. Bargaining Power Of Customer
5.2.3. Intensity Of Competitor’s
5.2.4. Threat Of New Entrants
5.2.5 Threat Of Substitutes
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