Global Indoor Positioning And Indoor Navigations (IPIN) Market 2022-2028

Global Indoor Positioning And Indoor Navigations (IPIN) Market 2022-2028

The global indoor positioning and indoor navigation (IPIN) market is growing significantly and estimated to grow at a CAGR of 28.4% during the forecast period (2022-2028). The major factors contributing to the growth of the IPIN market include the rising demand for IPIN systems in retail shops and shopping malls, cohesive government policies and growing internet penetration coupled with rising smartphone users. IPIN systems are increasingly adopted in retail shops and shopping malls owing to its significance in marketing to send push notification through it. The IPIN system has been adopted in the US since 2014. For instance, Macy’s, an American department store chain had installed more than 4,000 beacon devices across their shops in 2014.

The increasing trend of beacons technology is one of the major factors for the significant growth of the market. Beacons technology utilizes Bluetooth technology; however, it is slightly different from the Bluetooth technology and requires less energy. By leveraging beacon technology, the shop owners and retailers can easily track consumer activity that can deliver targeted information of the customer. BLE beacons have a significant potential owing to its benefits, such as low deployment cost for BLE beacons and it is ideal for positioning by using a broad spectrum of mobile devices, such as both IOS and Android devices. Additionally, it can continuously work for an optimum duration once it is deployed, as it has low power consumption.

The IPIN market is segmented on the basis of product, type, and application. By type, the market is bifurcated into indoor location-based analytics and indoor navigations & maps. During the forecast period, the indoor location-based analytics is expected to be the largest and fastest-growing markets, globally. By Product type, the market is further segmented into Bluetooth, WiFi, Ultra-Wideband Technology, and Other. During the forecast period, the market of Bluetooth in IPIN systems is expected to have a major market share at the highest CAGR. By application, the market is segmented into healthcare retail, manufacturing, energy and utilities, and others. During the forecast period, the retail market is expected to hold the largest share.

Geographically, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is anticipated to hold the major share in the market during the forecast period. The growth of the IPIN systems in the US is majorly due to the presence of major players such as Google LLC, and Apple, Inc., within the US region. These companies are significantly working to make indoor wayfinding easier. Apple has been working to support indoor positioning in publicly accessible areas. For instance, the company’s MapKit framework allows embedding maps directly into the own windows and views, which in turn, supports in indoor positioning. Moreover, a significant rise in the adoption of smart home technologies is further estimated to propel the market growth in the region. High adoption of IPIN systems by different retail companies and manufacturing companies is also augmenting the market in the region.

The major players of the market include Apple, Inc., Google LLC, IBM Corp., Telefonaktiebolaget LM Ericsson, and Microsoft Corp. In April 2021, Google LLC launched a new mobile application as 'WifiRttScan'. The applications are for developers, vendors, universities, and other users for research and test the indoor location mapping features within Android P. Earlier to this, the mobile application was only compatible with Pixel smartphones. In July 2021, Inpixon, an indoor positioning, and data analytics company, announced to acquire Jibestream Inc., a provider of indoor mapping and location technology company.The aim of the acquisition is to increase the global presence of the company. Moreover, in March 2021, Esri’s ArcGIS Indoors acquired Austria-based IPS startup Indoor Positioning System for Enterprises to advance their capabilities in indoor mapping.