Indoor Positioning and Navigation System Market Recent Trends, Size, Segments, Emerging Technologies and Industry Growth by Forecast to 2027

Overview

The indoor positioning and navigation system market is growing at a rapid pace. Indoor positioning and navigation (IPN) systems garner substantial market prominence, becoming a prominent position-awareness technology. IPN systems are viewed as an important and must-have feature in communication devices. Besides, IPN has garnered tremendous commercial interest, which has reflected favorably on its market globally.

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Moreover, substantial R&D investments continued to rise in IPN technology, alongside the inevitably improving service quality and functionality escalate the market valuation. According to Market Research Future (MRFR), the global indoor positioning and navigation system market valuation is expected to reach USD 24 BN by 2023, growing at 30.5% CAGR throughout the forecast period (2018 – 2023).

Additionally, the market growth attributes to various advantages of IPN systems in mega-size manufacturing facilities, warehouses, and massive buildings. The emergence of a range of powerful sensors and wireless connection systems has allowed the development of more effective IPN systems. Also, healthy growth in the RFID segment and rapid implementations in various technological applications substantiate market growth.

However, compared to GPS, IPN is a complex position awareness system. Moreover, ease of accessibility that leads to cyber threats and issues regarding unstructured data storage are the major factors predicted to impede market growth. Nevertheless, the emergence of adept technologies, advanced equipment, and the availability of emergency communication services would support market growth throughout the review period.

Market Segmentation

The global indoor positioning and navigation system market has been segmented based on technology, component, and platform. On the basis of technology, the market for indoor positioning and navigation system is segmented based on UWB, Bluetooth Low Energy, RFID, Cellular, and WLAN. Additionally, the market on the basis of component, is segmented into hardware, software. The global market for indoor positioning and navigation system is also covered based on platform segment which is further split into Android Based and iOS Based.

Key influences such as high capital requirements could obstruct the indoor positioning and navigation system market growth. However, as per the Global Indoor Positioning and Navigation System Market research report, the rising commercial interest as well as the rise of communication devices will drive growth during the forecast period. These key growth factors will help support the indoor positioning and navigation system market growth at a high CAGR. The segmental analysis of technology, component, and platform segments as well as regional market analysis has been presented in the global indoor positioning and navigation system market research report. Analysts studying the indoor positioning and navigation system market have presented projections in the indoor positioning and navigation system market research report assisting indoor positioning and navigation system market-based companies in numerous ways. The indoor positioning and navigation system market research report offers crucial details about the indoor positioning and navigation system market based on the data and forecasts till 2024.

Regional Overview

North America, Europe, Asia Pacific and the rest of the world regional market for indoor positioning and navigation system are primarily covered in the global indoor positioning and navigation system market research report. The report also covers country-level markets spread across North America – the United States, Canada, and Mexico. In South America – Brazil and other country-level indoor positioning and navigation system markets are covered in the report. In Asia-Pacific (APAC) region, the country-level indoor positioning and navigation system markets covered are China, India, Japan, and others. The indoor positioning and navigation system market research report also covers the regional market for indoor positioning and navigation system spread across European countries including the United Kingdom, France, Italy, Spain, and Germany, etc. The indoor positioning and navigation system market research report further explores other regional markets from the rest of the world including indoor positioning and navigation system markets of the Middle East and Africa. As per the global indoor positioning and navigation system market research report.

Global IPN System Market – Competitive Analysis

The indoor positioning and navigation system market appears to be competitive, owing to the presence of numerous well-established players. Mergers & acquisitions, innovation, and collaborations are the key trends for the leading players to gain a larger competitive share in the market.

Major Players:

Players leading the global indoor positioning and navigation system market include Trimble Inc., Septentrio N.V., NovAtel Inc., Telit Communications PLC, Insoft GmbH, Senion AB, Galileo Satelite Navigation Ltd., Tersus GNSS Inc., and Zebra Technologies Corporation, among others.

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