Indoor Positioning and Navigation System Market Research Report by Forecast to 2022
Pune, India -- (SBWIRE) -- 02/14/2018 -- Market Overview:
The Indoor positioning and navigation solutions improves the accuracy of WiFi based navigation and positioning. Devices such as GPS were used intensively, as these are robust for outdoor environment. However, the GPS signal are low rather unavailable in the indoor environments.
In recent years, advanced indoor positioning and indoor navigation system (IPIN) device and solution ensure better connectivity. There has been a substantial demand for indoor positioning and navigation devices and solution as it enhance the customer privacy and is expected to bring more advancement in existing maps and navigation solutions and software.
The global indoor positioning and navigation system market is growing with the significant pace. The most significant factor driving the growth of indoor positioning and navigation system is the increasing demand of IPIN devices and solutions. Its application various applications such as commercial buildings, healthcare, hospitality, oil & gas, mining and other related applications. IPIN technologies make use of sensors, magnetic positioning and Bluetooth low energy (BLE) technology to accurately track users inside closed spaces. IPNS can help people navigate through large environments such as offices, hospitals, museums, university campuses, railway stations and airports. However, the major factor hindering the growth of IPIN market is the indoor environment and capex issues.
According to a recent study report published by the Market Research Future, The global market of indoor positioning and navigation system is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The most significant trend that gain traction in global Indoor Positioning and Navigation System Market is the emergence of cloud-based big data analytics. Big data provides valuable insights into the customer purchasing preferences helping retailers to improve on customer searches and increase the sales figures. Using IPIN solutions, store owners can gain customer search information and provide special incentives to the buyer.
Companies use advances analytics techniques for large, and diversified data sets, allowing the researchers, analysts and business owners to make decision based on the data that was previously inaccessible. Big data comprises of software and hardware components and the data set that ranges from Megabytes to Terabytes.
Market is expected to show a double digit growth rate in coming five years (2016-2022). The growth is majorly driven by rise in adoption of IPIN technology that is replacing the GPS technology. Government initiatives in adopting IPIN technology which is the biggest revenue generators for indoor positioning and indoor navigation (IPIN) market.
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Major Key Players:
- Apple Inc. (U.S)
- Google Inc. (U.S)
- Nokia Corporation (Finland)
- Microsoft Corp (U.S)
- Cisco System Inc. (U.S)
- Qualcomm Technologies Inc. (U.S.)
- Sapient Corporation (U.S.)
- Ericsson (Sweden)
- Zebra Technologies (U.S.)
- SenionLab AB (Sweden)
- STMicroelectronics N.V
28th March 2017– Apple Inc. a major player in indoor positioning and navigation system market, will be at front and center of the WWDC keynote this year.. But the biggest thing will be Indoor Navigation available worldwide at the flip of the update switch.
20th October 2016- Indoor Positioning was on the market before the 2013 announcement of the iBeacon protocol but this was the catalyst that brought it into the forefront and created an industry movement. In 2013 Apple purchased WiFiSLAM to help them map the indoor world.
5th September 2017 – NaviBees, Dubai-based indoor navigation technology provider has recently partnered with Eventtus, an instant social network platform for events management. As a result of this collaboration, NaviBees has provided interactive3D maps for the application developed by Eventtus for the recently concluded Heya Arabian Fashion Exhibition. Their partnership is about to bring innovative IPIN system in the market.
Indoor Positioning and Navigation System Global Market Competitive Analysis:
The Market of Indoor Positioning and Navigation System appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Indoor Positioning and Navigation System Global Market Segmentation:
The indoor positioning and navigation system market is segmented in to four key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Component:hardware and software
Segmentation by Solution:Fraud detection, Risk management, Customer analytics, Content analytics
Segmentation by End-User: Banking, Discrete manufacturing, Process manufacturing
Government, Telecommunication, Insurance, Transportation and Utilities
Segmentation by Regions: North America, Europe, Asia Pacific and rest of the world.
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Indoor Positioning and Navigation System Global Market Regional Analysis:
North America is dominating the global indoor positioning and navigation system market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records, by 2022.
In North America market, United States is leading revenue generator and will continue to lead the market owing to its investments in the big data analytics with more than 80% investments from the region. Another reason for the increased market growth in the North American region is due to the concentration of the large big data companies in the U.S. following U.S is the Europe and Asia pacific region in terms of the investments in big data.
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