Indoor Positioning and Navigation Market Forecasts to 2028 – Global Analysis By Component (Services, Hardware and Other Components), Technology (Magnetic Positioning, Radio Frequency and Other Technologies), Platform (Android and iOS), Application (Locati

Indoor Positioning and Navigation Market Forecasts to 2028 – Global Analysis By Component (Services, Hardware and Other Components), Technology (Magnetic Positioning, Radio Frequency and Other Technologies), Platform (Android and iOS), Application (Location-Based Analytics, Asset and Personnel Tracking and Other Applications), End User, Organization Size, Deployment Mode and By Geography

According to Stratistics MRC, the Global Indoor Positioning and Navigation Market is accounted for $11.67 billion in 2022 and is expected to reach $56.10 billion by 2028 growing at a CAGR of 29.9% during the forecast period. Indoor positioning navigation is a system that uses wireless technologies like Bluetooth low energy, Wi-Fi, ultra-wideband, and others to provide a central platform to detect or track the geographic location of assets and persons. It provides its customers with location analytics, navigation, mapping, way finding, asset tracking, and other services. Better connectivity, efficient and quick access to precise location, indoor location-based services to deliver proximity marketing, workflow optimisation through asset and personnel tracking, and improved indoor navigation and routing are additional features that it offers. These features are anticipated to propel the growth of the global indoor positioning and indoor navigation market.

Market Dynamics

Driver:

Proliferation of smartphones, connected devices applications among customers

The penetration of smartphones is increasing exponentially. More obviously, customers' purchasing habits for mobile devices have changed. Start-ups and well-established businesses are swiftly catching up with the latest trends and figuring out how to offer location-based applications that will keep its indoor consumers interested. Retailers have been able to improve their customer experiences and offer accurate navigation for objects or any locations thanks to the adoption of indoor positioning and navigation technology. Indoor positioning and navigation solutions give businesses the chance to connect people inside big indoor areas with their brands, goods, and partners in a variety of ways that will boost customer connections and revenues.

Restraint

Stringent government rules and regulations

One of the main obstacles to the expansion of the indoor positioning and navigation market is a rigid set of laws and regulations. Governmental laws and regulations, such as the Health Insurance Portability and Accountability Act (HIPAA), Open Geospatial Consortium, and World Wide Web Consortium (W3C). The privacy and security of residents are given top priority by nations around the world, which results in the adoption of laws that limit the use of location-based data. The General Data Protection Regulation (GDPR), which is the first attempt by the EU to protect citizens' Personally Identified Information (PII), was passed. The GDPR offers firms a chance to increase customer trust, which could boost overall business success.

Opportunity

Growing demand for indoor location technologies to support lean automation and robotic processes

Indoor positioning technology is required for processes like lean automation and lean robotics in the manufacturing and logistics sectors to track goods, packages, and assets inside buildings for planning and control. Assets and large-volume objects are tracked using a variety of indoor positioning technologies, including RFID, Wi-Fi, and beacons. The Wi-Fi-based indoor positioning system uses a range-based method to pinpoint details like the separation and tilt of nodes. Since most manufacturing firms and warehouses install indoor positioning technologies that allow the micro-level monitoring of assets and objects, ensuring the quality assurance of the product manufactured, the indoor positioning and navigation market finds enormous opportunities in the manufacturing, distribution, and logistics sectors.

Threat

Lack of skills and awareness related to indoor positioning technologies

One of the main obstacles to this market's expansion is the lack of consumer acceptance and adoption of indoor positioning technology because of its advantages. Most business owners are unaware of the numerous advantages that may be obtained by using indoor positioning solutions and services, including customer analytics, tracking, and location. As a result, business owners often refrain from installing indoor positioning solutions because it is exceedingly difficult to forecast which solution customers would eventually embrace. Thus, indoor positioning technology needs a strong marketing strategy to raise awareness of its application.

Covid-19 Impact

Most industrial sectors around the world have been greatly impacted by the COVID-19 global health disaster. The supply chain networks for the majority of industry sectors have been severely disrupted as a result of the social distance standards and travel restrictions that are prevalent throughout much of the world. The global market for indoor positioning and navigation systems has encountered a number of unforeseen difficulties during the epidemic, similar to other market sectors. On the other hand, the worldwide market for indoor positioning and navigation systems is expected to experience tremendous development over the next several years when all industrial and financial operations around the world return to normal.

The remote monitoring segment is expected to be the largest during the forecast period

The remote monitoring segment is estimated to have a lucrative growth, due to it enhances users' quality, convenience, and use of many technologies, including BLE, Wi-Fi, and UWB. For instance, indoor location technology is utilised in warehouses to centralise the tracking of packages and inventory. For asset inventory management inside of businesses, infsoft provides indoor tracking systems using BLE technology.

The Cloud segment is expected to have the highest CAGR during the forecast period

The Cloud segment is anticipated to witness the fastest CAGR growth during the forecast period, due to using cloud-based indoor location solutions is an economical and effective strategy to address location-based data concerns in various enterprises. Pay-per-use pricing for cloud solutions enables businesses to save money on infrastructure. Using pools of server, storage, and networking resources, cloud-based solutions increase the return on investment (ROI) of indoor location technologies like Wi-Fi, BLE beacons, ultrasound, and UWB.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to significant market participants are present in the area and because individuals have used technology widely. With substantial developments in the creation of smart cities, the US and Canada are the main markets in the area. In order to improve people and asset tracking throughout huge buildings, businesses, particularly in the US, have begun implementing indoor navigation and indoor tracking solutions.

Region with highest CAGR

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the expanding use of positioning technology in office, retail, healthcare, logistics, and public areas, as well as the increase in demand for indoor location-based services and real-time location systems in the Asia-Pacific region.

Key players in the market

Some of the key players profiled in the Indoor Positioning and Navigation Market include Google, Apple Inc., Sparkyo Technology Pvt. Ltd, Microsoft, Cisco, Hewlett Packard Enterprise Development LP, AiRISTA Flow, Inc., IndoorAtlas Ltd., Juniper Networks, Inc., ACUITY BRANDS LIGHTING, INC., Inpixon, HID Global Corporation, Sonitor Technologies, InnerSpace, UBISENSE, HERE Technologies, Midmark Corporation, Broadcom Inc., STANLEY Healthcare and Esri.

Key Developments

In October 2021, Zebra Technologies acquired Antuit Holdings Pte. Ltd. Through this acquisition, the company expanded its portfolio of software solution offerings by combining Antuit’s platform with its existing software solutions and EVM products.

In July 2021, Microsoft partnered with NEC. NEC adopted Microsoft Azure as its preferred cloud platform to deliver enhanced capabilities to drive sustained digitalization, help customers transform their business models, and build Digital Workplaces for the post-pandemic.

In April 2020, Apple partnered with Google to enable the use of Bluetooth technology for dealing with the COVID-19 pandemic. The partnership aimed to provide contract tracking Bluetooth technology to help governments and health agencies reduce the spread of the virus, considering user privacy and security.

Components Covered:
• Services
• Hardware
• Solutions
• Software

Technologies Covered:
• Magnetic Positioning
• Radio Frequency
• Other Technologies

Platforms Covered:
• Android
• iOS

Applications Covered:
• Location-Based Analytics
• Asset and Personnel Tracking
• Navigation and Maps
• Geo-Fencing
• Emergency Services
• Sales and Marketing Optimization
• Remote Monitoring
• Supply Chain Management
• Inventory Management
• Other Applications

End Users Covered:
• Manufacturing
• Healthcare
• Office spaces
• Retail
• Logistics & Warehouses
• Travel & Hospitality
• Public Spaces
• Aviation
• Education
• Advertising
• Automotive
• Other End Users

Organization Sizes Covered:
• Large Enterprises
• SMEs

Deployment Modes Covered:
• On-premises
• Cloud

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements