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Smartphone Adoption Fuels Growth In Indoor Positioning And Navigation (IPIN) Market: Key Factor Driving The Growth In The Indoor Positioning And Indoor Navigation (IPIN) Market
Indoor Positioning And Indoor Navigation (IPIN)
What Is the Expected Indoor Positioning And Indoor Navigation (IPIN) Market Size During the Forecast Period?
Over the years, there has been an unprecedented expansion in the market size of Indoor Positioning and Indoor Navigation (IPIN). It is projected to swell from $18.91 billion in 2024 to $26.77 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 41.6%. The historical growth of this market can be associated with an uptick in demand for proximity marketing, a rise in the use of smartphones, improvement in internet connectivity, a higher penetration rate of IoT, and an increase in the usage of GPS navigation systems.
The market for indoor positioning and indoor navigation (IPIN) is projected to witness tremendous growth over the next few years, reaching a valuation of $109.2 billion in 2029, with a compound annual growth rate (CAGR) of 42.1%. This projected surge over the forecast period is linked to various factors such as increased IoT adoption for indoor positioning, the growing usage of Bluetooth beacons, GPS utility limitations in indoor environments, the escalated use of iBeacon in business sectors, and a rising demand for real-time location systems (RTLS). Looking ahead, the forecast period will see pivotal trends such as the incorporation of augmented reality (AR), the use of ultra-wideband (UWB) technology, multi-sensor fusion, indoor mapping and digital twins, along with integrations with Internet of Things (IoT) devices.
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What Are the High-Growth Segments in the Indoor Positioning And Indoor Navigation (IPIN) Market?
The indoor positioning and indoor navigation (IPIN) market covered in this report is segmented -
1) By Component: Software, Hardware, Services
2) By Technology: Ultra-Wideband Technology, Bluetooth Low Energy, Wi-Fi, Other Technologies
3) By Application: Asset And Personnel Tracking, Location-Based Analytics, Navigation And Maps, Other Applications
4) By End Use Industry: Healthcare, Retail, Manufacturing, Travel And Hospitality, Office Spaces, Public Spaces, Logistics And Warehouses, Other End Use Industries
Subsegments:
1) By Software: Mapping And Visualization Software, Location Analytics Software, Navigation And Routing Software, Asset Tracking Software, Others
2) By Hardware: Beacons, Sensors, Access Points, Tags, RFID Systems, Others
3) By Services: Consulting Services, Integration And Deployment Services, Maintenance And Support Services, Managed Services, Others
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What Key Drivers Are Expected to Influence Future Indoor Positioning And Indoor Navigation (IPIN) Market Growth?
The growth of the indoor positioning and indoor navigation (IPIN) market is predicted to be driven by the rising adoption of smartphones. These handheld devices, which combine computing, communication and multimedia capabilities, are increasingly adopted due to their mobile operating systems and touchscreen features. With built-in sensors like GPS, accelerometers and gyroscopes, smartphones enhance the efficacy and accuracy of indoor positioning and navigation solutions. For instance, Uswitch Limited, a UK-based price comparison and switching service company, reported that mobile connections in the UK in February 2023 were at 71.8 million, marking a 2.6 million increase or 3.8% above the 2021 figures. The UK population is projected to reach 68.3 million by 2025, with expectations that 95% (approximately 65 million individuals) will be smartphone owners. Thus, the fast-rising adoption of smartphones is fuelling the growth of the indoor positioning and indoor navigation (IPIN) market.
Which Companies Hold the Largest Share Across Different Indoor Positioning And Indoor Navigation (IPIN) Market Segments?
Major companies operating in the indoor positioning and indoor navigation (IPIN) market are Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corp., Siemens AG, Cisco Systems Inc., Qualcomm Inc., Broadcom Inc., Telefonaktiebolaget LM Ericsson, Nokia Corporation, STMicroelectronics N.V., Inpixon, Motorola Solutions Inc., HERE Global B.V. (HERE Technologies), Navigine Corp., Pointr Labs Limited, Sensewhere Limited, Link Labs Corporation, Oriient Labs Ltd., Situm Technologies SL, SPREO, IndoorAtlas Oy, GiPStech Srl, MazeMap AS, Pinmicro K K, Mapsted Corporation, indoo.rs GmbH, Insiteo SAS, Nextome S.r.l, Steerpath Ltd.
What Are the Latest Developing Trends in the Indoor Positioning And Indoor Navigation (IPIN) Market?
Leading corporations in the Indoor Positioning and Indoor Navigation (IPIN) sector are set on creating high-end solutions like indoor mapping to better location-centric services. This indoor mapping involves the generation of in-depth virtual depictions of indoor spaces to allow for exact and efficient navigations inside buildings. To illustrate, in January 2022, Indoor Map as a Service was introduced by HERE Technologies, a company based in the Netherlands focusing on location data and technology platforms. This service provides a comprehensive suite for indoor mapping requirements, including map data, routing, and positioning internally, all accessible through the HERE SDK and flawlessly integrated with their main map. The Indoor Map as a Service is designed to aid in wayfinding, tracking indoor assets, and optimizing the usage of space. This service has empowered HERE to broaden its product suite and present a thorough solution for indoor mapping necessities. It caters to an increasing demand for location technologies facilitating wayfinding, indoor asset tracking, and optimization of space usage.
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What Are the Emerging Geographies for The Indoor Positioning And Indoor Navigation (IPIN) Market Growth?
North America was the largest region in the indoor positioning and indoor navigation (IPIN) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor positioning and indoor navigation (IPIN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Indoor Positioning And Indoor Navigation (IPIN) Market?
2. What is the CAGR expected in the Indoor Positioning And Indoor Navigation (IPIN) Market?
3. What Are the Key Innovations Transforming the Indoor Positioning And Indoor Navigation (IPIN) Industry?
4. Which Region Is Leading the Indoor Positioning And Indoor Navigation (IPIN) Market?
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