Enjoy complimentary customisation on priority with our Enterprise License!
Indoor positioning and indoor navigation (IPIN) market size is estimated to grow at a CAGR of 34.07% between 2022 and 2027. The size of the market is forecast to increase by USD 52,503.46 million. The growth of the market depends on several factors, including low-cost BLE beacon technology, high penetration of mobile computing devices, and growth of geomarketing business. Issues related to standardization is a major challenge in the market.
To learn more about this report, Download Report Sample
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The low-cost BLE beacon technology is notably driving market growth. BLE-based beacons have been designed such that they can be attached to any object and broadcast tiny radio signals from any location. These signals are received and interpreted by the user's smartphone to unlock micro-location and contextual awareness.
Furthermore, BLE beacon is an affordable technology to obtain indoor location data that is useful for developing innovative apps to serve end-users in a better way. Retailers want to deploy BLEs in their stores due to their novel benefits. This is a huge market that is changing the face of the retail industry. Therefore, such factors will drive the global market during the forecast period.
Increasing the use of iBeacon for businesses is an emerging trend in the market. iBeacon adds a touch of novelty to traditional shopping using Bluetooth technology. Beacon's micro-location capability aids seamless navigation and provides two-way communication. It plays a vital role in IoT and M2M, which has a significant impact on consumers by creating a seamless user experience at a low cost. Furthermore, it can capture the user's reach to deliver innovative and transformative experiences. It has applications in museums, banking, public transport, logistics, and manufacturing units.
A significant trend in the global IPIN market is the increased focus of players on creating a state-of-the-art end-user experience. Providing promotional offers and discounts is no longer sufficient for marketing. Companies want to engage with users at a much more personal level to increase the customer's association with the brand. This was an innovative attempt to bolster footfall and create a unique customer experience. Therefore, such factors will boost the market growth during the forecast period.
The rise in privacy and security issues is a major challenge impeding market growth. Beacons and iBeacons work on an open platform technology for the smooth and easy sharing of information. Hence, there is a possibility that data can be used by malicious users and competitors to track the customer's private and confidential information without their permission.
The basic design of a beacon device is very simple, which makes it susceptible to imitations. People need to reveal their personal information to advertisers and other third parties to receive coupons, deals, and promotions. This information is shared among players in the IPIN value chain, and this could lead to the leakage of information. Further, the network provider manages and owns the database in which the information is stored. Therefore, the provider himself/herself has access to this information that can be private in nature. Such information can easily be misused. Therefore, data security and privacy at the retailer's end is a serious concern for the global IPIN market, which in turn, can hinder the market growth.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Indoor Positioning and Indoor Navigation (IPIN) Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
bluepath AG - The company offers indoor positioning, navigation, real-time mobile user tracking, and more. The key offerings of the company include indoor positioning and indoor navigation.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
This report extensively covers market segmentation by application (retail, aviation, healthcare, manufacturing and logistics, and government and public sector), technology (ultra wide-band (UWB) systems, wifi-based systems, proximity-based systems, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The market share growth by the retail segment will be significant during the forecast period. Beacon devices are installed in shops to enhance the customer experience. As soon as the customer enters or comes near the store, the beacon emits radio signals to locate the consumer and updates the information in the associated retailer app. These devices help retailers identify customers based on their interests, location, and potential.
Get a glance at the market contribution of various segments Request a PDF Sample
The retail segment was valued at USD 716.37 million in 2017 and continued to grow until 2021. IPIN technologies provide an engaging experience for shoppers in the retail segment. Beacons deployed at different locations - retail stores, large shopping malls, and restaurants - detect smartphone devices and provide the necessary services to customers according to their preferences. The preferences of the customers are derived from the analytics data mined from individual smartphones. They also help with queue management at the payment counters. Further, beacons suggest nearby places offering preferred products or services to the user, accompanied by price and rating comparisons. Hence, such factors will contribute to segment growth in the global market during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
North America dominates the global market, and thus, the region exhibits a higher growth rate and vendor participation. The two most important factors behind the regional market growth are the increasing number of smartphones used in this region, and the huge deployment of Wi-Fi hotspots in public places.
Furthermore, the outbreak of COVID-19 IN 2020 had a drastic impact on the economy of the US. However, in 2021, end-user industries, such as airlines, casino and gaming, oil and gas drilling, restaurants, and leisure facilities, resumed operations along with the IPIN market due to the mass vaccination drive and other government initiatives. This helped to improve the demand for IPIN technologies, which, in turn, is expected to ensure the market's growth in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Indoor Positioning And Indoor Navigation (IPIN) Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 34.07% |
Market growth 2023-2027 |
USD 52,503.46 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
33.13 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Apple Inc., bluepath AG, Broadcom Inc., Cisco Systems Inc., Esri, GiPStech Srl, HERE Global BV, IndoorAtlas Ltd., MazeMap AS, Microsoft Corp., Navigine Corp., Nextome Srl, Pinmicro K K, Pointr Ltd., Qualcomm Inc., Samsung Electronics Co. Ltd., Sensewhere Ltd., Spreo, and Verizon Communications Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.