According to Goldstein Research, “Deployment of 4G technology and upcoming advanced connectivity technology of 5G bandwidth is creating huge opportunities for the market players to introduce advanced systems for various end-use industries”
Global indoor positioning system is software that not only locates any person or object in the building but also inside the premise as well. With the constant increase in smart phones and with the use of GPS technologies anyone can find any object or people inside the buildings. Thus the market of indoor positioning is helping government to ensure the safety of public inside the premise.
On the basis of end-user segment, transportation segment dominated the end-user segment with a market share of 39.2% in 2016 due to increased number of passengers travelling worldwide. On the other hand, hospitality sector generated a revenue share of 30% in 2016 in overall indoor positioning and indoor navigation (IPIN) market. Global indoor positioning and indoor navigation (IPIN) reached USD 4.82 billion in 2016 on the back of rising demand from hospitality and transportation sector. Expansion of tourism industry across the globe is one of the major factors which are growing the need for advanced navigation and position systems.
The indoor positioning and indoor navigation (IPIN) market segment on the basis of services such as professional services and managed services. Among these segments, professional services segment generated the largest market share in overall services segment owing to rising adoption of these systems in hospitality and other huge sectors.
Safeguarding the employee safety: Major boost
Indoor positioning and indoor navigation systems help in tracking the location inside the premises which help the premises supervisors to maintain the security of the people inside the premises. Around 30% of indoor positioning software is used in premise only for providing safety to employees/workforce.
Mechanization of advanced systems: Innovations
Key players of global indoor positioning and indoor navigation market are trying to innovate new technologies regarding indoor location such as Google Inc. has announced to provide detailed location of indoor positioning by using a software namely Tango 3D vision tech and so on. High cost of infrastructural deployment is one of the factors which are creating reluctance among the end-use industries towards the adoption of indoor positioning and indoor navigation systems.
“Global Indoor Positioning and Indoor Navigation (IPIN) Market Outlook 2024” contains detailed overview of the global indoor positioning market in terms of market segmentation by services type, by solutions type, by technology type, by application and by end-user type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global indoor positioning market which includes profiling of companies of the Google Inc., Cisco System Inc., Microsoft Corporation, Qualcomm Technologies, Senionlab AB, Ericsson, STMicroelectronics N.V, Zebra technologies etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global indoor positioning market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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