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.
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.
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Indoor Positioning and Navigation System Market – Segments
The report is segmented into four dynamics;
- By Technology : Wi-Fi, UWB, Bluetooth Low Energy (BLE), Cellular based, RFID, Lo-Ra,
and others. - By Component : Hardware (Cameras, Sensors, RFID tags, Networking devices, others)
and Software/Apps. - By Platform : Android-based, iOS-based, and others.
- By Regions : Asia Pacific, North America, Europe, and Rest-of-the-World.
Indoor Positioning and Navigation System Market – Regional Analysis
North America dominates the global indoor positioning and navigation system market.
The largest market share attributes to the vast technological advances and the strong
presence of notable market players in the region. Mexico, Canada, and the US drive the
IPN system market in North America.
Among these countries, the US, with its indoor positioning and navigation system named
NAVSTAR GPS, accounts for the largest share in the regional market. The US is also known
as the global technological hub, which has led to the early adoption of innovative
technologies in the region. The North American positioning and navigation system market
is projected to retain its dominance, growing at 28.3% CAGR throughout the review
period.
Europe stands second in the global indoor positioning and navigation system market.
Market growth is driven by the increasing adoption of GPS services and cloud-based
services. Additionally, the proliferation of smart connected devices boosts the market
growth, providing enormous opportunities across businesses.
The increasing use of navigation services and solutions in the region provides a better
scope for the European countries to advance in location-based services. Germany,
Netherlands, and the UK are rapidly growing markets for navigation systems. The
European indoor positioning and navigation system market is anticipated to show a rapid
rate through the forecast period, creating a valuation of USD 6.39 BN by the end of 2023.
The Asia Pacific region is gradually emerging as a promising market for indoor positioning
and navigation systems globally. Factors such as the demand for advanced IT products
and services from several industrial sectors and the positive economic expansions in
developing countries such as China, India, Japan, and others influence the regional market
growth.
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Furthermore, the presence of large telecom industries and the proliferation of
smartphones increase the application scope for navigation systems in the region. The
region is also showing immense potential for increased investments in new satellite
programs. The APAC indoor positioning and navigation system market is expected to
create a substantial revenue pocket, growing at 34%CAGR over the forecast period.
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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