Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Indoor Positioning and Navigation Systems Market Research Report.

Indoor Positioning and Navigation Systems Market Scenario

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. 

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.

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Global Indoor Positioning and Navigation System Market: Segmental Analysis

In MRFR’s report, the global indoor positioning and navigation system market has been segmented on the basis of technology, component, software/apps and regions. Based on technology, the market has been segmented into UWB, Wi-Fi, Bluetooth low energy (BLE), RFID, cellular based, Lo-Ra. Among these, the UWB segment currently holds the largest market share. In 2017, the segment stood at a market valuation of USD 1.24 Bn. The RFID segment is also expected to witness a health growth during the forecast period. RFID is witnessing a fast proliferation in various technologies owing to its wide application scope. By component, the market has been segmented into hardware and software/apps. The hardware segment is further sub-segmented into sensors, cameras, RFID tags, networking devices. The hardware segment is expected to outperform the software/app segment during the assessment period. By 2023, the hardware segment is projected to surpass a market valuation of USD 17 Bn by 2023, reflecting a strong double-digit CAGR. By platform, the market has been segmented into android, iOS based and others. The android-based segment currently holds the top position and the trend is likely to continue in 2017 and beyond. Meanwhile, the iOS segment is expected to exhibit the highest CAGR during the forecast period.

Global Indoor Positioning and Navigation System Market:

Regional Analysis

On the basis of region, the market has been segmented into North America, South America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC). The market in North America is expected to remain highly lucrative during the assessment period. In 2017, the market in North America reached a valuation in access of 1.50 Bn and is projected to witness CAGR of 28.3% during the forecast period. Asia Pacific is also expected to emerge as an attractive business destination of market players. The region’s market is expected to witness the highest CAGR during between 2018 and 2023. Meanwhile, the Europe is likely to stay firm as the second largest market for IPN over 2023.

Competitive Landscape

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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