New York, US, Oct. 13, 2022 (GLOBE NEWSWIRE) -- According to the research reports by MRFR, “Indoor Positioning and Navigation System Market, by Component, Platform, Technology, and Region- Forecast to 2030”, the global market is predicted to thrive substantially during the assessment timeframe from 2022 to 2030 at a healthy CAGR of approximately 32.56% to attain a valuation of around USD 92.36 Billion by the end of 2030.
Indoor Positioning and Navigation System Market Overview:
Indoor positioning and navigation system refers to a device utilized to navigate all located people using radio waves, acoustic signals, magnetic fields, lights, or other sensory information.
Indoor Positioning and Navigation System Market Competitive Analysis
The list of prominent participants across the global indoor positioning and navigation system market includes companies such as:
- Sparkyo Technology Pvt. Ltd
- Apple Inc.
- Inpixon
- Cisco
- Hewlett Packard Enterprise Development LP
- ACUITY BRANDS LIGHTING, INC.
- Juniper Networks, Inc.
- CenTrak
- HID Global Corporation
- Sonitor Technologies
- Microsoft
- UBISENSE
- Esri
- Midmark Corporation
- infsoft GmbH
- Quuppa
- HERE Technologies
- IndoorAtlas Ltd.
- AiRISTA Flow, Inc.
- STANLEY Healthcare
- InnerSpace
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Market USP Covered
Indoor Positioning and Navigation System Market Drivers
The global indoor positioning and navigation system market has grown immensely in the last few years owing to the serving solutions in train stations, shopping malls, warehouses, University buildings, hotels, airports, and hospitals, among others. Furthermore, the increasing adoption of Bluetooth beacons, the growing integration of beacons in cameras, and the rising demand for proximity marketing will likely catalyze the market's growth over the coming years.
Indoor Positioning and Navigation System Market Restraints
On the other hand, the rising concerns related to data and security may restrict the market's growth.
Indoor Positioning and Navigation System Market Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 92.36 Billion |
| CAGR during 2022-2030 | 32.56% |
| Base Year | 2021 |
| Key Market Opportunities | Connected devices and location-based applications among customers |
| Key Market Drivers | These solutions are used for acquiring detailed current wait times and points of interest (POI) and the entire inter-model travel chain. |
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Indoor Positioning and Navigation System Market Segment Analysis
Among all the components, the software tools segment is predicted to secure the top position across the global market for indoor positioning and navigation systems over the assessment era.
Among all the application areas, the sales and marketing optimization customer experience management segment will likely hold the leading position across the global market over the coming years.
Based on the vertical, the public buildings segment is anticipated to ensure the top position across the global indoor positioning and navigation system market over the assessment timeframe.
Among all the devices, the software segment will likely lead the global indoor positioning and navigation systems market over the coming years.
Among all the platforms, the Android segment is predicted to hold the top globally over the forecasted era.
Among all the technologies, the Bluetooth Low Energy (BLE) technology segment is predicted to secure the top position across the global indoor positioning and navigation systems market over the coming years. BLE signals from battery-driven beacons refer to the leading indoor location technology. BLE is considered one of the newest rising technologies and is a market standard available on most devices.
Among all the deployment modes, the cloud segment is anticipated to exhibit the maximum CAGR across the global market for indoor positioning and navigation systems over the review timeframe. It is considered efficient and cost-effective for managing location-based data problems across companies. The pay-per-use pricing of cloud solutions assists companies in lowering their infrastructure cost. Cloud-based solutions are implemented on pools of networking, storage, and server resources that boost RoI on indoor location technologies such as UWB, ultrasound, BLE beacons, and Wi-Fi.
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COVID-19 Impact
The global health crisis in the form of COVID-19 has had a significant impact on most industry areas across the globe. The social distancing norms and travel restrictions imposed across most parts of the world have led to causing severe disruptions in the supply chain networks for most industry sectors. Like other market areas, the global indoor positioning and navigation systems market has also faced several unexpected challenges during the pandemic. On the other hand, with all the global industrial and financial activities returning to normal, the global indoor positioning and navigation systems market is likely to witness massive growth over the coming years.
Indoor Positioning and Navigation System Market Regional Analysis
The global indoor positioning and navigation systems market is analyzed across five major regions: the Middle East & Africa, Asia-Pacific, Europe, South America, and North America.
According to the research reports by MRFR, the North American region is predicted to ensure the leading position across the global market for indoor positioning and navigation systems over the review era. The primary parameter supporting the growth of the regional market is the growing investments by the leading players across the region. Furthermore, the advancement in several technologies and applications of indoor location solutions is another prime aspect boosting the growth of the regional indoor positioning and navigation system market. Moreover, the large-scale implementation of technologies by people and the existence of the leading players across the region are also predicted to influence the growth of the regional market over the review timeframe. The region has Canada and the US as the leading growth contributors with substantial developments in the development of smart cities. Companies across the US have begun implementing indoor navigation and indoor tracking solutions to boost people and asset tracking across significant buildings. Implementing advanced technologies such as UWB, Wi-Fi, and BLE is another crucial aspect causing an upsurge in the regional Indoor Positioning and Navigation System Market growth. In addition, the growing consumer demand for indoor maps and restricted features of the GPS technology is influential organizations like Microsoft, Apple, Inpixon, and Zebra Technologies to introduce indoor location solutions and services to serve the several requirements of businesses' clients.
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The Asia-Pacific region's indoor positioning and navigation system market is likely to exhibit the maximum growth rate over the review era. The growing dispersion of smartphones across developing nations such as India and China is the main parameter supporting regional market growth.
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