INDOOR POSITIONING AND INDOOR NAVIGATION (IPIN) MARKET ANALYSIS

Indoor Positioning and Indoor Navigation (IPIN) Market, by Technology (Magnetic Positioning, Ultra-wideband Technology, Bluetooth Low Energy (BLE) Beacons, Wi-Fi, and Others), Component (Software, Hardware, and Services), Application (Navigation & Positioning, Location-based Promotion, Geo-fencing, Asset Tracking, Emergency Services, and Others), and by Industry Vertical (Healthcare, Retail, Aviation, Education, Transportation, Tourism, Automotive, Logistics, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

To Be Published : Nov 2024
Code : CMI3120
Formats :
Excel and PDF
Industry : Smart Technologies

Indoor Positioning and Indoor Navigation (IPIN) MarketSize and Trends

Limitation of GPS system in tracking indoor environment is one of the major factors driving the Indoor Positioning and Indoor Navigation (IPIN) Market growth

GPS and other satellite technologies does not function properly or lack precision to locate position inside multistorey buildings, airports, parking garages, museums, and underground locations. This is one of the primary factors that increase demand for indoor positioning and indoor navigation system, and in turn, drives growth of the market. Indoor positioning systems use different technologies such as WiFi / LiFi access points, Bluetooth beacons, magnetic positioning, Ultra-wideband beacons, and dead reckoning, which offers position accuracy of around 2cm. These technologies help to actively locate tags and mobile devices to get sensed. For instance, in 2019, Racelogic announced the launch of a brand-new indoor positioning system, VIPS. VIPS is an advanced system, which helps in measuring real-time 3D position with an accuracy of ±2cm in areas where GPS is not available, making it an ideal tool for construction applications both indoors and in urban areas. However, operational challenges in the indoor environment and issues with the capital expenditure are expected to hamper the global Indoor Positioning and Indoor Navigation (IPIN) Market growth during the forecast period.