Many variables drive the Indoor Positioning and Navigation System (IPNS) market's dynamics and growth. Complex and large interior environments are driving the need for effective and seamless navigation solutions in confined locations. As retail malls, airports, and hospitals grow, indoor positioning must be accurate and trustworthy. Growing popularity of location-based services improves retail, hotel, and healthcare user experiences, driving this need.
Advances in technology shape the market. Indoor positioning systems are more accurate and reliable due to the advancement and integration of BLE, Wi-Fi, and UWB technologies. This technology advancement improves user experience and widens IPNS's applications in logistics, manufacturing, and education.
Competition in the IPNS market also matters. Large companies investing in R&D to produce novel solutions promotes healthy competition. Market participants emphasize real-time monitoring, geofencing, and user-friendly interfaces to distinguish their products. This competition boosts technology, improving positioning precision and functionality.
Government policies and standards shape IPNS markets. Compliance with regulations protects users' data, building consumer and corporate confidence. As governments globally understand the importance of location-based services, they may set rules for indoor positioning and navigation system development and deployment.
Economic conditions are a market element. The regional economy affects IPNS adoption across industries. In times of economic development, firms invest in modern technology to improve operations and acquire a competitive edge. Economic downturns may limit budgets, slowing indoor positioning system deployment.
Technology, infrastructure, and end-user alliances further boost the industry. Collaborations help integrate IPNS into existing infrastructure and processes, making IPNS adoption easier for organizations. Partnerships can also provide industry-specific solutions for other areas, broadening the market.
The IPNS market depends on consumer acceptability and awareness. As customers learn about indoor positioning and navigation systems' ease, safety, and tailored experiences, demand will undoubtedly rise. Implementing IPNS in high-traffic consumer places like retail malls and entertainment venues might boost adoption.
IPNS efficacy might be affected by interior architecture and construction. Dense walls, electromagnetic interference, and intricate architecture can make positioning technology difficult to use. Solutions that overcome environmental difficulties and deliver accurate indoor positioning in varied contexts may acquire a competitive edge as the industry progresses."
Report Attribute/Metric | Details |
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Segment Outlook | by Component, Technology |
Indoor positioning and navigation (IPN) system is becoming a major segment of position-awareness technology. MRFR reports that the indoor positioning and navigation system market value will surpass USD 92.36 Billion by the year 2030.
All these prominent key players play a major role in the dynamics and growth of the IPN market. Companies opt for many techniques to widen their customer base. These techniques mainly include new production processes, collaborations, joint ventures, establishments, mergers, acquisitions, etc. All these strategies are opted to get the needs of customers and develop a strong potential growth base.
Cisco acquired privately held monitoring Greece company Code BGP in August 2023. Cisco ThousandEyes could increase its BGP monitoring capabilities and have a global authoritative view of Internet Health by leveraging some of the best BGP minds from Code BGP.
According to Mapsted’s June 2023 blog, indoor mapping in hospitals can help management move around faster and streamline patient care. The aim of IoT in the healthcare industry is to improve the overall healthcare experience through means such as indoor mapping & wayfinding for hospitals.
Apple officially announced its Apple Business Connect platform in January 2023. A new feature has been added to Apple Maps. Apple Business Connect: Key information like business hours and location, photos, logos, special offers or promotions etc., will now be editable by business owners on the platform.
Inpixon entered into a distribution agreement with Schauenburg Systems, which is an OEM for mine safety systems and equipment, to sell Inpizon's real-time location technologies to mining companies in South Africa in March 2023. The parties under the deal are expecting sales volumes that include hundreds of thousands of nanoLOC chips together with other core technologies provided by Inpixon for real-time tracking, collision avoidance and proximity applications within the mining sector.
Phunware’s Multiscreen-as-a-Service (MaaS) Location-based Services (LBS) app was launched on Cisco Meraki’s Meraki Marketplace back in February 2022. Phunware is a mobile-first, fully integrated enterprise cloud platform that offers world-leading products, solutions, data and services to global organizations across industries.
Google and Apple announced their collaboration in April 2022, where they would leverage Bluetooth technology to support governments’ efforts along with health providers' fight against the COVID-19 pandemic. This opened up possibilities for a wider Bluetooth-based contact tracing platform.
The CXApp was bought by Inpixon along with its outstanding capital stock because it was one of the most popular SaaS app platforms in May 2022. The CXApp allows businesses to deploy a custom-branded, location-aware employee app that enhances the workplace experience and is used for hosting virtual & hybrid events. The transaction would result in increased revenues and profitability.
In the global IPN market research report, there are major factors that drive the growth of the market. The report consists of opportunities that may further in the future and hands the global market of IPN. Various factors restrain the growth of IPN and hamper the development of such a fine-based market. The research report also consists of various analyses based on Covid 19 impact market dynamics, different segmentations, regional analysis, and the IPN market. The CAGR and future value are also discussed and mentioned in this research report. With that being said, Indoor positioning and navigation (IPN) system is becoming a major segment of position-awareness technology. MRFR reports that the indoor positioning and navigation system market value will surpass USD 24 Bn by the year 2023.
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