Overall Indoor Positioning System business scenario presented through self-explanatory charts, tables, and graphics images add greater value to the study.
NEW YORK CITY, NEW YORK, UNITED STATES, March 26, 2020 /EINPresswire.com/ — Indoor positioning system use communication and sensors technologies to locate objects in indoor environments. It is attracting enterprise and scientific interest as there is a massive opportunity for implementing these technologies. Indoor positioning can be classified into magnetic positioning, SLAM, radio waves, mobile sensors, and RFID.
According to the U.S. National Geospatial Advisory Committee (NGAC), indoor positioning services provide the ability for real-time tracking of location information on objects or people using sensory information from automated devices. In the world of increasing customer intimacy, venue-based marketing strategies, and rising demand for location-based services and applications by smartphone users, the rise of the indoor positioning system is obvious.
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The growth in the adoption of Bluetooth beacons, along with rising demand for proximity marketing, has propelled the demand of the global indoor positioning system market. However, operational and implementation challenges associated with the market are hampering the market growth. A surge in demand for connected devices is also expected to create lucrative opportunities for the market players in the coming years. Rising adoption of Bluetooth beacons and high demand for proximity marketing are driving the market demand. Beacon infrastructure plays a crucial role in generating the hyper-local and contextual data that is vital for the retail industry. Factors such as low deployment cost and high applicability in a wide range of mobile devices are augmenting the demand of the market. Beacons are easy to deploy and have rational features due to which their adoption rate has significantly increased over the years.
Indoor positioning is segmented on the basis of components such as software, services, and hardware. The services segment is the fastest-growing segment in the market. It plays a crucial role in the effective and efficient functioning of the network infrastructure. The market software enables efficient and easy implementation of the Electronic Discovery Reference Model (EDRM) model that includes identification, collection, preservation, review, processing, presentation, and production, of the relevant data during legal cases leading to reduced costs, time, and manual intervention. The retail segment is projected to grow with a higher CAGR owing to the increasing adoption of location-based technology and asset tracking in the retail industry. Increasing the application of the market in healthcare is estimated to grow due to the high adoption of navigation system for impaired people and incorporation with electronic healthcare, and real-time location system providers. Asia Pacific is expected to grow with the highest CAGR during the forecast period owing to the increasing adoption of positioning technology among retail, public, logistics, healthcare, and office spaces together with growing demand for indoor positioning systems in the region.
Key market participants include Apple, Cisco Systems, Broadcom, Qualcomm, Google, Micello, Microsoft, Senion, STMicroelectronics, Ericsson, Nextome, HERE Technologies, GeoMoby, Senion AB, IndoorAtlas, SPREO, Sensewhere, Pointr, Steerpath, indoo.rs, and AirFinder.
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Segments Covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2027. For the purpose of this report, Reports and Data have segmented the global indoor positioning system market by component, technology, application, end-use industry, and region:
Component Outlook (Revenue, USD Billion; 2019-2027)
Technology Outlook (Revenue, USD Billion; 2019-2027)
• Bluetooth Low Energy
• Ultra-Wideband Technology
Application Outlook (Revenue, USD Billion; 2019-2027)
• Asset & Personnel Tracking
• Location-Based Analytics
• Navigation & Maps
End-Use Industry Outlook (Revenue, USD Billion; 2019-2027)
• Office Spaces
• Travel & Hospitality
• Logistics & Warehouses
• Public Spaces
Regional Outlook (Revenue, USD Billion; 2019-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire