Indoor Positioning and Navigation System Market Demand, Opportunities, Size, Growth, Trend and Forecast to 2027

Overview

The indoor positioning and navigation system market is projected to grow at a CAGR of 30.50% during the forecast period. As per the indoor positioning and navigation system market research report, the global market for indoor positioning and navigation system is anticipated to grow rapidly by US$24 billion by 2023. As per analysts, fast adoption along with the availability of sensors and wireless connection systems will drive the market growth throughout the forecast period. The indoor positioning and navigation system market research report provides an in-depth analysis of the global indoor positioning and navigation system market and its technology, component, and platform segments. The complex position awareness system as well as technical limitations are the factors which could affect the indoor positioning and navigation system market growth during the forecast period. The indoor positioning and navigation system market research report by expert analysts is intended to help companies in the indoor positioning and navigation system market.

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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.

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.

Industry News

Spatial Topology Technology is the only indoor map network combined on this earth with indoor and navigation systems. Spatial Topology technology based on robotics for various applications for the automation of the building of indoor maps. Business owners want to anticipate the next phase in E-Commerce by completing customer details. Here\-\-s where STO\-\-s map comes in. As an indoor Google Maps, STOMAP can be imagined. Users can use the map for navigation, but we can provide offline information on where their clients are for business owners, like shopping malls.

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.

Market Segmentation

The Indoor Positioning and Indoor Navigation (IPIN) Market has been segmented based on technology, component, and platform. On the basis of technology, the market for indoor positioning and navigation system is segmented based on UWB, Bluetooth Low Energy, RFID, Cellular, and WLAN. Additionally, the market on the basis of component, is segmented into hardware, software. The global market for indoor positioning and navigation system is also covered based on platform segment which is further split into Android Based and iOS Based.

Key influences such as high capital requirements could obstruct the indoor positioning and navigation system market growth. However, as per the indoor positioning and navigation system market research report, the rising commercial interest as well as the rise of communication devices will drive growth during the forecast period. These key growth factors will help support the indoor positioning and navigation system market growth at a high CAGR. The segmental analysis of technology, component, and platform segments as well as regional market analysis has been presented in the global indoor positioning and navigation system market research report. Analysts studying the indoor positioning and navigation system market have presented projections in the indoor positioning and navigation system market research report assisting indoor positioning and navigation system market-based companies in numerous ways. The indoor positioning and navigation system market research report offers crucial details about the Indoor Positioning and Navigation System Market Size based on the data and forecasts till 2024.

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Competitive Landscape

Various applications across different industry verticals are expected to accelerate the indoor positioning and navigation system market growth worldwide. The global indoor positioning and navigation system market is set to witness challenges including lack of technical expertise, however, companies in the indoor positioning and navigation system market will sustain the growth rate. The indoor positioning and navigation system market research report also offers company profiles of key players operating in the indoor positioning and navigation system market around the world. Additionally, the global indoor positioning and navigation system market report provides detailed analysis of the market based on primary and secondary research data collected from the indoor positioning and navigation system market?s key decision makers as well as stakeholders. The indoor positioning and navigation system market research report covers all such factors assisting companies in the indoor positioning and navigation system market to improve their plans and portfolio.

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Posted by Publisher on 3. May 2021. Filed under Computer & Software. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry