PUBLISHER: The Business Research Company | PRODUCT CODE: 1464116
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464116
Indoor positioning and indoor navigation (IPIN) encompass technologies and systems designed to facilitate precise location tracking and guidance within indoor environments, such as buildings and facilities. These solutions utilize various methods to determine the locations of users, assets, or objects within indoor spaces where satellite signals may be unreliable due to obstructions or signal interference.
The main components of indoor positioning and indoor navigation (IPIN) include software, hardware, and services. Software refers to applications and platforms leveraging indoor positioning technologies to enable users to locate themselves or navigate within indoor environments. Technologies such as ultra-wideband, Bluetooth low energy, and Wi-Fi are utilized for asset and personnel tracking, location-based analytics, navigation and mapping, among other applications. Industries such as healthcare, retail, manufacturing, travel and hospitality, office spaces, public spaces, logistics and warehouses, among others, benefit from these solutions.
The indoor positioning and indoor navigation (IPIN) market research report is one of a series of new reports from The Business Research Company that provides indoor positioning and indoor navigation (IPIN) market statistics, including indoor positioning and indoor navigation (IPIN) industry global market size, regional shares, competitors with an indoor positioning and indoor navigation (IPIN) market share, detailed indoor positioning and indoor navigation (IPIN) market segments, market trends and opportunities, and any further data you may need to thrive in the indoor positioning and indoor navigation (IPIN) industry. This indoor positioning and indoor navigation (IPIN) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The indoor positioning and indoor navigation (IPIN)market size has grown exponentially in recent years. It will grow from $13.24 billion in 2023 to $18.91 billion in 2024 at a compound annual growth rate (CAGR) of 42.8%. The historic growth can be attributed to several factors, including an increase in demand for proximity marketing solutions leveraging indoor positioning technologies, the surging adoption of smartphones equipped with location-based services, augmentation in internet connectivity enabling seamless indoor navigation, the increasing penetration of Internet of Things (IoT) devices facilitating indoor tracking, and the widespread use of GPS navigation systems fostering familiarity with location-based technologies.
The indoor positioning and indoor navigation (IPIN) market size is expected to see exponential growth in the next few years. It will grow to $76.72 billion in 2028 at a compound annual growth rate (CAGR) of 41.9%. The forecasted growth can be attributed to increased adoption of IoT for indoor positioning, rising use of Bluetooth beacons, GPS limitations to outdoor environments, growing iBeacon utilization in businesses, and rising demand for real-time location systems (RTLS). Major trends include AR integration, UWB technology, multi-sensor fusion, indoor mapping, and IoT device integration.
The anticipated surge in smartphone adoption is poised to drive the growth of the indoor positioning and indoor navigation (IPIN) market in the coming years. Smartphones, multifunctional handheld devices integrating communication, computing, and multimedia functionalities, are equipped with built-in sensors such as GPS, accelerometers, and gyroscopes. These sensors enhance indoor positioning and navigation capabilities, enabling more precise and efficient indoor navigation solutions. For instance, Uswitch Limited reported in February 2023 a significant increase of approximately 2.6 million mobile connections in the UK, totaling 71.8 million, marking a 3.8% rise over 2021. With the UK population projected to reach 68.3 million by 2025, an estimated 95% (or around 65 million individuals) are expected to own smartphones. Consequently, the escalating adoption of smartphones is a key driver behind the growth of the indoor positioning and indoor navigation (IPIN) market.
Prominent players in the indoor positioning and indoor navigation (IPIN) market are dedicated to advancing solutions such as indoor mapping to enrich location-based services. Indoor mapping involves creating detailed digital representations of interior spaces to facilitate accurate and efficient building navigation. For instance, HERE Technologies introduced Indoor Map as a Service in January 2022, offering a comprehensive solution for indoor mapping needs. This service, integrated with the HERE SDK, provides indoor map data, routing, and positioning, seamlessly linked with the company's base map. It aims to enable various use cases such as wayfinding, indoor asset tracking, and space usage optimization. The introduction of Indoor Map as a Service has expanded HERE's offerings, catering to the increasing demand for location technologies driving indoor navigation and space utilization optimization.
In October 2023, Everfield Ltd., a software company headquartered in Germany, successfully acquired Visioglobe SAS for an undisclosed sum. This strategic move is anticipated to bolster Everfield's standing in the Indoor Positioning and Indoor Navigation (IPIN) market by augmenting its capabilities in providing indoor mapping, navigation, and location-based services. The acquisition of Visioglobe SAS is aligned with market trends and positions Everfield to deliver enhanced IPIN solutions to its clientele, thereby enhancing its competitiveness and fostering market growth. Visioglobe SAS, headquartered in France, specializes in indoor mapping and way-finding solutions, bringing valuable expertise and technology to complement Everfield's offerings.
Major companies operating in the indoor positioning and indoor navigation (IPIN) market report are Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Microsoft Corp., Siemens AG, Cisco Systems Inc., Qualcomm Inc., Broadcom Inc., Telefonaktiebolaget LM Ericsson, Nokia Corporation, STMicroelectronics N.V., Inpixon, Motorola Solutions Inc., HERE Global B.V. (HERE Technologies), Navigine Corp., Pointr Labs Limited, Sensewhere Limited, Link Labs Corporation, Oriient Labs Ltd., Situm Technologies SL, SPREO, IndoorAtlas Oy, GiPStech Srl, MazeMap AS, Pinmicro K, Mapsted Corporation, indoo.rs GmbH, Insiteo SAS, Nextome S.r.l, Steerpath Ltd.
North America was the largest region in the indoor positioning and indoor navigation (IPIN) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor positioning and indoor navigation (IPIN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the indoor positioning and indoor navigation (IPIN) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The indoor positioning and indoor navigation (IPIN) market includes revenues earned by entities by providing services such as emergency response and safety, geofencing and proximity alerts, indoor mapping and visualization, augmented reality (AR) navigation. The market value includes the value of related goods sold by the service provider or included within the service offering. The indoor positioning and indoor navigation (IPIN) market also includes sales of beacons and sensors, radio-frequency identification (RFID) tags, and Wi-Fi access points. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Indoor Positioning And Indoor Navigation (IPIN) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on indoor positioning and indoor navigation (IPIN) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for indoor positioning and indoor navigation (IPIN) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The indoor positioning and indoor navigation (IPIN) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.