According to a recent report published by Allied Market Research, titled, "Indoor Positioning and Indoor Navigation (IPIN) Market by Component, Technology, Application, and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2018 - 2025," the global indoor positioning and indoor navigation (IPIN) market was valued at $2,642 million in 2017, and is projected to reach $43,511 million by 2025, growing at a CAGR of 42.0% from 2018 to 2025.
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.
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.
Key Findings of the Indoor Positioning and Indoor Navigation (IPIN) Market:
- By application, the location-based analytics segment is expected to dominate the global indoor positioning and indoor navigation market during the forecast period.
- Based on end-use industry, the retail segment generated the highest revenue in 2017.
- on, Asia-Pacific is anticipated to be the fastest growing region for indoor positioning and indoor navigation market during the forecast period.Based on regi
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.