Press release
Indoor Positioning and Indoor Navigation (IPIN) Market Insights on Upcoming Trends 2020 | HERE Technologies, Nextome, IndoorAtlas, Senion AB, Sensewhere, SPREO, Steerpath, indoo.rs, Pointr
Increase in adoption of Bluetooth beacons along with surge in demand for proximity marketing drive the growth of the global IPIN market. However, the challenges regarding implementation and operations of IPIN hinder the market growth. However, increase in demand for connected devices would offer new opportunities for the market players in the next few years.
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The global indoor positioning and indoor navigation (IPIN) market held $2.64 billion in 2017, and is estimated to generate $43.51 billion by 2025, growing at a CAGR of 42% from 2018 to 2025.
Based on component, the services segment accounted for the highest share in 2017, accounting for more than two-fifths of the total revenue, and is estimated to maintain its dominance during the forecast period. However, the software segment would witness the highest CAGR of 44.6% from 2018 to 2025.
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The report analyzes major market players operating in the global IPIN market such as HERE Technologies, Sensewhere, IndoorAtlas Ltd., Pointr, Steerpath Ltd., Senion AB, Nextome srl, indoo.rs, SPREO, and AirFinder.
Geographically, Asia-Pacific is expected to hold the highest CAGR of 48.1% during the forecast period. However, North America accounted for the largest share, holding more than one-third of the total market share in 2017, and will maintain its highest contribution during the forecast period.
Based on end use industry, the retail segment accounted for the dominant share in the global market in 2017, accounting for more than one-fifth of the total market share, and is estimated to maintain its dominance during the forecast period. However, the healthcare segment is expected to maintain the fastest CAGR of 47.8% from 2018 to 2025. The report discusses segments including manufacturing, office spaces, travel & hospitality, logistics, public spaces, and warehouses.
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Based on technology, the Bluetooth low energy segment is estimated to portray the fastest CAGR of 45.9% during the forecast period. However, the Wi-Fi segment contributed to the highest share in 2017, accounting for more than one-third of the total market share, and is estimated to contribute the highest share throughout the forecast period. The research also analyzes segments including ultra-wideband technology and others.
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