Indoor positioning system or IPS is a highly popular network service for wireless access at indoor locations. Rather than satellites, these services depend on nearby internet anchors that locate tags and create environmental context for the devices. Indoor location positioning and navigation equipments (IPINs) are gaining demands in the global market spread across various business verticals. This has created positive atmosphere in the indoor location market as well. This increase in demand is mainly observed in the verticals where these equipments already existed.
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Segmentation in Indoor Positioning and Navigation Market
The indoor location market is segmented based on the types of hardware devices, software programs, variety of applications and services and the business verticals where they are used. Geographical demand for these services is also a crucial factor to consider. Hardware devices are segmented into handheld devices, proximity devices and network devices. Software programs consist of indoor maps, navigation software packages and indoor location based analytical tools. Positioning system segment covers network based positioning, hybrid positioning and independent positioning. These three services are divided into various sub-segments.
Network based segments include Wi-Fi, WLAN, Ultra-Wide Band, RFID, Bluetooth, etc. While independent positioning based segment includes assisted global positioning system (AGPS) and microelectronic mechanical system (MEMS). Hybrid positioning segment on the other hand uses all these methods in combination. Real time indoor tracking and navigation, indoor location based services, navigation pattern based analytics and monitoring and emergency services are the varied applications of indoor location services. These services have a great reach across various business verticals ranging from aviation, education, mining, hospitality, healthcare, commercial building, public buildings and public safety.
According to the geographical demands, North America is leading the market, which is followed by Europe and Asia Pacific regions. Middle East and Latin America are also estimated to record excellent growth in this market. Increasing customer expectations, absence of satellites inside the buildings and lowering costs are the three basic drivers for the indoor navigation market.
According to the forecasting reports, the Indoor Location Market is expected to grow at a CAGR of 42.0% for the next five years. The market is currently poised at $7.11 Billion, which will reach beyond $40.99 Billion at the end of 2022.
Increasing customer demands in new regions, technological advancements and measures to provide excellent infrastructure are some of the basic reasons for such explosive growth of this market.
Top Vendors and Investment
The key players in the indoor location market include Apple (US), Broadcom (US), Ericsson (Sweden), GeoMoby (Australia), Google (US), Micello (US), Microsoft (US), Qualcomm (US), Senion (Sweden), STMicroelectronics (Switzerland), and ZIP Corp (US). These players have adopted various strategies, such as new product developments, acquisitions, partnerships, and business expansions, to increase foot prints in the indoor location market.
Microsoft is one of the leading vendors in the indoor location market. The company offers Path Guide, an android app which enables indoor navigation services without any extra hardware. The app is very interactive and works on inputs provided by the user. In September 2017, Microsoft partnered with Carto, which offers location intelligence for behavioral marketing. The partnership is expected to deliver indoor location analytics intelligence solutions for enterprises.
Google offers Indoor Google Maps to the indoor location which are accurate, faster, convenient, and easily accessible via various types of devices. In May 2017, Google formed a partnership with Matterport, a media technology company. The partnership helped bring about the 3D street view perspective indoors.
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