Indoor Positioning System Market Research Report – Segmentation By Component Technology, Deployment Mode, Application, End User, and Region – Global Industry Size, Share, Growth Analysis – Forecast (2022 – 2027)

  • Category : Information Technology |
  • Report Code : VMR-41568 |
  • Pages: 150 |
  • Published : 2022-05 |
  • Region: Global |
  • Avilable Format : format excel,ppt, Pdf |
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Global Indoor Positioning System Market Size (2022-2027)

The Indoor Positioning System Market was valued at $7 billion in 2021, and it is estimated to reach $29.07 billion by the end of 2027, with a CAGR of 32.94% during the forecast period (2022 - 2027). Various factors such as the growing number of applications powered by beacons and BLE tags; the increasing integration of beacons in cameras, LED lighting, Point of Sale (PoS) devices, and digital signage; the extensive use of smartphones, connected devices, and location-based apps among customers; and the inefficiency of GPS technology in the indoor environment are driving the adoption of the Indoor Positioning System market around the world.

An indoor positioning system is a system that uses wireless technologies such as Bluetooth low energy, Wi-Fi, ultra-wideband, and others to provide a central platform for detecting or tracking the geographical location of assets and persons. It provides end-users with location analytics, navigation, mapping, wayfinding, asset tracking, and other services. Furthermore, it offers improved connectivity, effective and quick access to the precise location, indoor location-based services to deliver proximity marketing, workflow optimization through asset and personnel tracking, and enhanced indoor navigation and routing, all of which are estimated to propel the global indoor positioning and indoor navigation market forward.

GPS has been in use for a long time and is a very popular and successful technology for mapping outdoor areas with very high accuracy. The industry for outdoor mapping and navigation has seen a lot of innovation and a lot of activity from companies all around the world. Cell towers and satellites are fundamentally used by GPS to track a user's location coordinates. However, one major limitation is the inability to accurately map indoor locations. Indoors, GPS will not operate.

MARKET DRIVERS

The proliferation of smartphones, connected devices, and location-based applications among customers boosts the Indoor Positioning System Market.

With the rise of smartphones and changing consumer mobile purchasing habits, startups and established businesses are trying to find new ways to engage their indoor users with location-based applications. By using indoor location technology and providing appropriate navigation for goods or destinations, retailers have been able to improve their consumer experiences. Businesses can use interior location solutions to connect individuals within large indoor venues to their brands, items, partners, or anything else that will help them develop customer relationships and revenues. Because of the widespread use of technologies such as BLE and Wi-Fi, users may now locate a person's location within a specified range. Airlines and airports can utilize beacons to detect a user's presence inside the airport and determine which floor the user is on using geofencing technology.

Increasing demand for proximity marketing helps to drive the Indoor Positioning System market

The evolution of promotional methods used by major key players in the retail sector has resulted in an increase in awareness of proximity marketing in the retail industry. Beacon technology enables a new micro-location level of promotion to reach the target audience in situations where proximity is critical. Dealers and store owners hope to keep buyers interested at all times with promotional offers and notifications, resulting in increased sales. Furthermore, proximity marketing's main strength is its capacity to send the correct message to the right user at the right time, which is a primary driver of the indoor positioning and navigation market's growth. Furthermore, proximity marketing's contextual approach has made it 16 times more effective than Google Ads. Furthermore, of all business verticals that have engaged in proximity marketing, the retail industry is experiencing rapid adoption, which is projected to give attractive chances for the IPIN market's growth.

MARKET RESTRAINTS

The Indoor Positioning System Market's growth is being stifled by the concerns related to data security and privacy:

Location-based data is highly sensitive data that must be safeguarded at all times. However, a closer examination of the technical aspects of IPS reveals various issues and misgivings. Indoor location-based approaches are utilized in a variety of applications, including item tracking and identifying persons within a specified range. Because individuals spend so much time indoors, precise indoor location information is critical for users and service providers. Indoor location information can be obtained via a variety of technologies, including Wi-Fi, Bluetooth Low Energy, and RFID, all of which require data, security, and privacy. If the information obtained by the service provider is disclosed as a result of external assaults, the situation could get even worse. The risk of data leakage could be a significant deterrent to the adoption of indoor positioning systems.

Market Segmentation

Indoor Positioning System Market- By Component:

  • Hardware
  • Solutions
    • Indoor Tracking
      • Assets and People Tracking
      • Indoor Location Analytics
    • Indoor Navigation
    • Database Management System
  • Services
    • Professional Services
      • Training and Consulting
      • System Integration and Implementation
      • Support and Maintenance
    • Managed Services

Due to the increasing popularity of smartphone devices across multiple verticals, which can swiftly deploy RFID tags and Wi-Fi access points to track items and people within a building, the hardware category is estimated to hold the largest market share during the projected period.

Indoor Positioning System Market- By Technology:

  • Ultra-Wideband Technology
  • Bluetooth Low Energy
  • Wi-Fi
  • RFID
  • Magnetic Positioning
  • Others

During the projection period, ultra-wideband technology is estimated to hold the largest market share. Ultra-wideband (UWB, ultra-wideband, ultra-wideband, and ultra-band) is a radio technology that allows for short-range, high-bandwidth communications over a vast portion of the radio spectrum while using very little energy.

Indoor Positioning System Market- By Deployment Mode:

  • Cloud
  • On-Premises

Indoor Positioning System Market- By Application:

  • Sales and Marketing Optimization
  • Emergency Response Management
  • Remote Monitoring
  • Predictive Asset Management
  • Inventory Management
  • Supply Chain Management
  • Other Applications

Indoor Positioning System Market- By End User:

  • Healthcare
  • Retail
  • Manufacturing
  • Travel & Hospitality
  • Office spaces
  • Public Spaces
  • Logistics & Warehouses
  • Others

Due to the rising implementation of location-based technology and asset tracking in the retail industry, the retail category is estimated to grow at the fastest rate throughout the projection period. However, due to the rising usage of navigation systems for impaired persons and integration with electronic healthcare, as well as real-time location system providers, the healthcare category is estimated to have the fastest-growing market share throughout the projection period.

Indoor Positioning System Market- By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

In the Indoor positioning system market, North America is predicted to hold the greatest market share. The United States has the biggest market share, followed by Canada. Both countries have actively invested in technologies such as Bluetooth Low Energy (BLE), Wi-Fi, and ultra-wideband, and are currently investing in ultrasound technology to increase resource utilization for better patient care, which will add to the region's market growth.

The market for indoor positioning systems in Europe is estimated to grow as the demand for indoor technology grows in numerous industries such as retail, transport, hospitality, healthcare, and public spaces.

Due to the increased penetration of indoor Location-Based Services (LBS), connected devices, and Real-Time Location Systems (RTLS) in India and China, Asia-Pacific is predicted to develop at the fastest rate throughout the projection period.

In addition, the Middle East's indoor positioning systems industry is growing due to the increasing use of mobile computing devices.

Major Key Players in the Market

  1. HERE Technologies
  2. Nextome
  3. IndoorAtlas
  4. Senion AB
  5. Sensewhere
  6. SPREO
  7. STEERPATH
  8. INDOO.RS
  9. POINTR
  10. AIRFINDER

Market Insights and Developments

  • Cisco Meraki has launched Phunware's Multiscreen-as-a-Service (MaaS) Location-based Services (LBS) app to its Meraki Marketplace in February 2020. Phunware is a fully integrated enterprise cloud platform for mobile that provides products, solutions, data, and services to enterprises all over the world.
  • In April 2020, Google and Apple announced a partnership to enable the use of Bluetooth technology to support government and healthcare companies in combat COVID-19. This paved the way for a wider Bluetooth-based contact tracing platform to emerge.
  • Design Reactor (The CXApp), a prominent SaaS app platform, and its outstanding capital stock were acquired by Inpixon in May 2021. The CXApp allows businesses to provide a custom-branded, location-aware employee app targeted at improving the workplace experience and hosting virtual and hybrid events. As a result of the transaction, revenue and profitability are set to rise.

COVID-19 impact on Indoor Positioning System Market:

The COVID-19 pandemic has had an impact on the indoor location market; businesses continue to use it for facility management, virus tracking, people tracking and management, and smart quarantining. Indoor location systems are being adopted by governments and business companies across verticals to keep citizens indoors and track them. Ubisense has announced a new enterprise contact-tracing solution to protect employees and save downtime in the workplace. Ubisense has introduced the aforementioned solution for businesses to recover control over productivity and income to protect workers and aid productivity. Similarly, Sewio is providing free consultancy and software licenses to businesses to assist them in putting in place the technology required to save lives using ultra-wideband RTLS employee location tracking.

Chapter 1. Global Indoor Positioning System Market – Scope & Methodology

1.1. Market Segmentation

1.2. Assumptions

1.3. Research Methodology

1.4. Primary Sources

1.5. Secondary Sources

Chapter 2. Global Indoor Positioning System Market – Executive Summary

2.1. Market Size & Forecast – (2022 – 2027) ($M/$Bn)

2.2. Key Trends & Insights

2.3. COVID-19 Impact Analysis

       2.3.1. Impact during 2022 - 2027

       2.3.2. Impact on Supply – Demand

Chapter 3. Global Indoor Positioning System Market – Competition Scenario

3.1. Market Share Analysis

3.2. Product Benchmarking

3.3. Competitive Strategy & Development Scenario

3.4. Competitive Pricing Analysis

3.5. Supplier - Distributor Analysis

Chapter 4. Global Indoor Positioning System Market Entry Scenario

4.1. Case Studies – Start-up/Thriving Companies

4.2. Regulatory Scenario - By Region

4.3 Customer Analysis

4.4. Porter's Five Force Model

       4.4.1. Bargaining Power of Suppliers

       4.4.2. Bargaining Powers of Customers

       4.4.3. Threat of New Entrants

       4.4.4. Rivalry among Existing Players

       4.4.5. Threat of Substitutes

Chapter 5. Global Indoor Positioning System Market - Landscape

5.1. Value Chain Analysis – Key Stakeholders Impact Analysis

5.2. Market Drivers

5.3. Market Restraints/Challenges

5.4. Market Opportunities

Chapter 6. Global Indoor Positioning System Market – By Component

6.1. Hardware

6.2. Solutions

       6.2.1. Indoor Tracking

              6.2.1.1. Assets and People Tracking

              6.2.1.2. Indoor Location Analytics

       6.2.2. Indoor Navigation

       6.2.3. Database Management System

6.3. Services

       6.3.1. Professional Services

              6.3.1.1. Training and Consulting

              6.3.1.2. System Integration and Implementation

              6.3.1.3. Support and Maintenance

       6.3.2. Managed Services

Chapter 7. Global Indoor Positioning System Market – By Technology

7.1. Ultra-Wideband Technology

7.2. Bluetooth Low Energy

7.3. Wi-Fi

7.4. RFID

7.5. Magnetic Positioning

7.6. Others

Chapter 8. Global Indoor Positioning System Market – By Deployment Mode

8.1. Cloud

8.2. On-Premises

Chapter 9. Global Indoor Positioning System Market – By Application

9.1. Sales and Marketing Optimization

9.2. Emergency Response Management

9.3. Remote Monitoring

9.4. Predictive Asset Management

9.5. Inventory Management

9.6. Supply Chain Management

9.7. Other Applications

Chapter 10. Global Indoor Positioning System Market – By End User

10.1. Healthcare

10.2. Retail

10.3. Manufacturing

10.4. Travel & Hospitality

10.5. Office spaces

10.3. Public Spaces

10.4. Logistics & Warehouses

10.5. Others

Chapter 11. Global Indoor Positioning System Market- By Region

11.1. North America

11.2. Europe

11.3. Asia-Pacific

11.4. Rest of the World

Chapter 12. Global Indoor Positioning System Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)

12.1. Company 1

12.2. Company 2

12.3. Company 3

12.4. Company 4

12.5 Company 5

12.6. Company 6

12.7. Company 7

12.8. Company 8

12.9. Company 9

12.10. Company 10

  • Primary & Secondary Sources to Collect & Validate Data

  • Utilization of Both Top Down & Bottom Up Approach

  • Holistic Research Methodology


Scope & Introductory Research

In the initial stage of research, the scope for market is defined. In order to better understanding of the market, secondary focus is on different segmentations of the market. Preliminary research involves identifying key data points related to the market under consideration to estimate the market sizes to the best extent.​

Data Collection 

Based on the scope of the market and the key data points, a number of secondary sources are considered. This data collection stage consists of a team of analysts who gather data from various secondary resources, accessing proprietary databases and primary research by reaching out to key market participants and opinion leaders. ​

Data Fusion

At this stage, collected data using several sources is arranged in structured format. The sources include industry participants, in-house models, key opinion leaders in the market ecosystem and databases. Historical data trends are established at this point, and compared to the current scenario. Based on the macro- and micro-factor prevailing in various geographies, proprietary data models are used to analyze key market countries. Key players in this market are listed based on their capabilities in revenue, sales, and development. The study also involves the identification of companies in the category of 'new entrants' and their potential effects on the market.

Data Analysis

At this stage, the analyst team moves on to understand how the market has changed over the years. The total size of the market is gathered after an study of different business segments and end-users is done. An impact research is also done to see what factors will/may influence the market in the years ahead. The effect of various variables on the industry is often taken into account when forecasting market sizes.

Verification ​

Data verification is conducted at all research levels, however this stage is dedicated to more rigorous checking of the data points. At this stage, the estimated data is triangulated with company revenues and checked with industry experts including several senior executives and key opinion leaders in the market. The data is then summarized, and the findings are derived from the same for the report. ​

Quality Assurance & Report Preparation​

Holistic research methodology is followed with combination of Top Down and Bottom Up approach to undertake the estimation and forecasting task in order to ensure quality of data. At this stage of the research process, a dedicated QA team checks the data and approves after several predefined checks. Each section is checked and questioned to make the report accurate and reliable. In case of discrepancy, a team of analysts reviews the issue, and the whole process is repeated again. That significantly improves the report's quality. After approval, all the parts of the report are brought together and is formatted by highly trained team thus making it ready to dispatch.​

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