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The Indoor Positioning and Navigation System (IPNS) business is changing due to technological advances and rising demand for location-based services across industries. As organizations realise the benefits of accurate indoor positioning for user experiences and operational efficiency, the worldwide IPNS market is growing.
Smartphones and other smart devices with location-based services drive market dynamics. Consumers are used to using navigation applications outdoors and expect them indoors. In retail, medical care, public transit, and other industries, accurate location information may increase consumer interaction and expedite operations, driving IPNS solution demand.
IPNS is used in retail to customize shopping, issue targeted promotions, and improve store layouts depending on user traffic. This improves the buying experience and gives businesses data for business choices. IPNS improves patient care and operational efficiency in healthcare by tracking assets, navigating patients, and optimizing workflows.
The growing deployment of IoT technologies further drives IPNS market dynamics. Precision indoor location is essential for seamless communication and coordination as more devices become linked. IPNS helps IoT devices locate themselves inside for real-time data transmission and automation in smart buildings, industries, and warehouses.
To meet rising demand, many businesses are joining the IPNS industry. Startups and established firms are developing Bluetooth-based beacons, Wi-Fi location, Ultra-Wideband (UWB), and LiDAR sensor technologies. This range of options creates a dynamic market where customers may chose solutions that fit their demands and budgets.
Government rules and standards affect IPNS market dynamics. Policymakers are prioritizing interoperability, data privacy, and security as the technology spreads. Companies deploying IPNS solutions are considering compliance with legislation and standards, altering the competitive environment and impacting buying decisions.
IPNS market prospects come with challenges. Implementing and maintaining these systems is expensive and raises privacy and data security concerns, which hinder adoption. These issues must be addressed to keep the IPNS industry growing and acquire company and consumer trust.
The COVID-19 outbreak also affected IPNS market dynamics. Social distancing and contactless solutions have increased location-based technology adoption in numerous areas. IPNS is utilized in hospitality to develop touchless check-in processes and improve client experiences, and in manufacturing to ensure safe worker distance.
IPNS market dynamics are predicted to change when 5G and AI are integrated. More precise and responsive indoor location systems will enable novel augmented reality, virtual reality, and immersive experiences."
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 35.20% |
Indoor Positioning Navigation System Market Highlights:
Indoor Positioning and Navigation System Market Overview:
The Indoor Positioning and Navigation System Market industry is projected to grow from USD 24.2 Billion in 2023 to USD 365.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 35.20% during the forecast period (2023 - 2032).
Are you wondering what indoor positioning and navigation system is? Here's the answer to this complicated question. Indoor positioning and navigation system is defined as a device that is used to navigate all located people using lights, magnetic fields, acoustic signals, radio waves, or any other sensory information. Indoor positioning and navigation systems take the help of other components such as various optical, radio, or even acoustic technologies to design fragmentation. One can locate anyone via mobile or tablet using indoor positioning and navigation systems. It is also beneficial in detecting Magneto metric information which is made inside buildings or any other locations with steel structures or in iron ore mines. Indoor positioning and navigation (IPN) system is becoming a major segment of position-awareness technology.
Covid-19 Analysis:
Due to the complete shutdown manufacturing units were adversely affected. Lack of workers and government policies dragged the market down during the year 2019. The time duration of 2021 to 2028 is the forecasted period. Although it is expected that with the end of the process of vaccination in the year 2022 the market growth of indoor positioning and navigation system will drive back to its forecasted growth.
Indoor Positioning and Navigation System Market Dynamics:Drivers:
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.
Indoor Positioning and Navigation System Market Dynamics:Drivers:
The factors that result in the growing demand for indoor positioning and navigation systems are serving solutions in train stations, hospitals, airports, hotels, University buildings, warehouses, and shopping malls among others. These solutions are used for acquiring detailed current wait times and points of interest (POI) and the entire inter-model travel chain. Various train authorities used a door positioning and navigation system to inform visitors regarding the ongoing delays and tracked changes and indoor positioning and the high utilization by hospitals to integrate the booking of additional services.
Opportunities:
Various factors that boost the indoor positioning and navigation system are the rising adoption of Bluetooth beacon's and the rising demand for proximity marketing, the growing integration of beacon's in cameras as well as LED lightings POS devices and digital signage. Other opportunities include the adoption of loT enabled devices in indoor positioning as well as the proliferation of various smartphones and other connected devices and location-based applications among customers. Customers also have positively affected the indoor positioning in the navigation system by improving their awareness. Furthermore, there is a growing demand for indoor location technologies to support lean automation and robotics processes. There is a high emphasis on industry 4.0 smart cities and smart manufacturing. In addition to this, growing demand for RFID tags all across the retail industry have extended profitable opportunities to the industries
Restraints:
Some factors pose as hindrances to the growth of the indoor positioning and navigation system market. These factors include rising concerns regarding data and security as well as its implementations of stringent government rules and regulations. Other factors include the inefficiency of the GPS in indoor environments and influence the indoor positioning and marketing system. In addition to this, the lack of skills and awareness about Indore location technology is projected to obstruct the indoor positioning and navigation system market growth during the forecasted period of 2021 to 2028.
Value Chain Analysis:
The indoor positioning and navigation system is utilized at various sectors such as to navigate to locate people using lights, magnetic fields, acoustic signals, radio waves, or other sensory. Indoor positioning and navigation systems market using various optical radio or acoustic signals or other sensory signals helps technologies to design fragmentation and locate anyone via mobile or tablet. It is also beneficial in detecting Magnetometric information which is made inside buildings or any other locations with steel structures or in iron ore mines. In addition to this, it also helps in maintaining a calendar with treatment schedules and barrier-free routing into their apps to accelerate precision.
Indoor Positioning and Navigation System Market Segmentation:
The Global indoor positioning and navigation system market is segmented based on the component, based on the deployment mode, based on the application, based on the vertical, based on the device, based on the platform, and based on the technology into the following -
Based on the Component: Based on components the indoor positioning and navigation system is divided into Technology, software tools, and services.
Based on the Application: Based on application the indoor positioning and navigation system is segmented into sales and marketing optimization customer experience management remote monitoring inventory management predictive asset analytics risk management and emergency response management.
Based on the Vertical: The Global indoor positioning and navigation system based on the vertical is divided into retail transportation, entertainment, hospitality, and public buildings.
Based on the Deployment Model: Based on the deployment model, the indoor positioning and navigation system is classified into cloud and on-premises.
Based on the Device: Based on the device, the Global indoor positioning and navigation system market is bifurcated into software, hardware, and services.
Based on the Platform: Based on the platform, the global market of indoor positioning and navigation system is segmented into iOS and Android.
Based on the Technology: Based on the technology, the indoor positioning in the navigation system is divided into ultra-wideband Technology Bluetooth low energy, and Wi-Fi.
Indoor Positioning and Navigation System Market Regional Analysis:
On a regional basis, the IPN market is divided into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. The North American region dominates the indoor positioning and navigation system market. This domination is due to increasing investments and the development of various technologies and applications of indoor location solutions.
Competitive Landscape:
The prominent key players of the IPN market in the global market are mentioned down below.
- Inpixon
- Hewlett Packard Enterprise Development LP
- Juniper Networks, Inc.
- HID Global Corporation
- Microsoft
- Apple Inc.
- Cisco
- ACUITY BRANDS LIGHTING, INC.
- CenTrak
- Sonitor Technologies
- UBISENSE
- Infsoft GmbH
- HERE Technologies
- IndoorAtlas Ltd.
- STANLEY Healthcare
- Midmark Corporation
- Quuppa
- AiRISTA Flow, Inc.
- InnerSpace
- Esri
- Sparkyo Technology Pvt. Ltd
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.
Recent Developments:
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.
- Given below are some recent developments seen in the indoor positioning and navigation system market-Advancements are made in the investments which are continued due to the rising Technology, improved services, quality, and functionality.
- Moreover, developments are made in the wireless connection systems and the availability of powerful sensors. This has allowed various development of more effective IPN systems.
- Advancements were made in the methodology to conduct in-depth studies of historical and current market trends.
Report Overview:
The global IPN market in the global market research report consists of the following elements which are mentioned down below-
Intended Audience:
- Market overview
- Covid 19 analysis
- Market dynamics
- Value chain analysis
- Market segmentation
- Regional analysis
- Competitive landscape
- Recent developments
- Intended audience
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.
Intended Audience:
Given below is the intended audience for the global indoor positioning and navigation system market-
- Tourism industry
- Telecommunications
- Shopping Centers
- Airports and Railway Stations
- Marketers and consumers
- Proximity device manufacturers
- Public safety agencies
- Smartphone companies
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