Press release
Indoor Positioning and Indoor Navigation Market, 2018 – 2025 by Component, Technology AND Application and Key Players Such as HERE Technologies, Nextome, IndoorAtlas, Senion AB, Sensewhere, SPREO, Steerpath, indoo.rs, Pointr.
Rise in adoption of Bluetooth beacons, increase in demand for proximity marketing, surge in adoption of IoT in indoor positioning, increase in penetration of connected devices, rise in concerns among the government authorities toward public safety, and growth in advanced bandwidth and internet connectivity services are the major factors that are expected to drive the indoor positioning and indoor navigation market growth. However, operational challenges and high cost associated with the integration of IPIN systems are expected to hamper the growth of the global IPIN market during the forecast period.
Based on application, the location-based analytics segment dominated the overall indoor positioning and indoor navigation market share in 2017 and is expected to continue this trend during the forecast period due to increase in proximity marketing solutions among the retail sector.
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In 2017, the retail segment accounted for the highest share of the indoor positioning and indoor navigation market and is projected to remain dominant during the forecast period due to numerous benefits of IPIN solutions in retail industry such as improved customer searches, effective route planning, and optimized customer targeting. However, the healthcare segment is growing significantly over the past few years and is expected to showcase highest CAGR during the forecast period.
Some of the key players profiled in the indoor positioning and indoor navigation market report include HERE Technologies, Nextome, IndoorAtlas, Senion AB, Sensewhere, SPREO, Steerpath, indoo.rs, Pointr, and AirFinder.
Top impacting factors
The factors such as rise in adoption of Bluetooth beacons, increase in demand for proximity marketing, and surge in adoption of IoT in indoor positioning are expected to drive the market growth. However, operational challenges are expected to hamper the global indoor positioning and indoor navigation market growth during the forecast period. Furthermore, IPIN systems in the healthcare sector are expected to provide lucrative opportunities for the growth of the global indoor positioning and indoor navigation market.
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Rising adoption of Bluetooth Beacons
Beacon infrastructure plays a significant role in generating the contextual and hyper-local data that is vital for retail industry. Retailers or wholesalers can engage customers through highly relevant content for shopping, based on their exact location and accumulation of relevant data for marketing as well as streamlining operations. In addition, the factors such as its low deployment cost and high applicability in a wide range of mobile devices are expected to drive the growth of indoor positioning and indoor navigation market. Also, beacons are easy to deploy and have reasonable features due to which their adoption rate has significantly increased over the years.
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