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The indoor positioning and navigation system is a network of electronic devices that helps in locating objects and people in closed surroundings, such as hospitals, museums, and university campuses. It uses beacons to broadcast signals to smartphones, a dynamic positioning system platform, and the applications that make the systems indispensable to consumers. This system allows end-user organizations to understand customers in real-time and send relevant messages related to their identity and needs. The demand for indoor positioning solutions is increasing rapidly in the retail industry owing to numerous associated benefits including improved customer searches, effective route planning, and optimized customer targeting. Also, the rising demand for indoor positioning and navigation devices and solution for customer privacy is fuelling market growth.
The growing demand for indoor positioning solutions in hospitals, airports, train stations, hotels, university buildings, warehouses, and shopping malls is fuelling the growth of the indoor positioning and navigation market. In airports, indoor positioning solutions help to give details regarding current wait times and points of interest (POIs), as well as supports the entire intermodal travel chain. Similarly, train authorities can inform visitors regarding ongoing delays and track changes with the help of indoor positioning. Furthermore, hospitals are using these solutions to integrate the booking of additional services, a calendar with treatment schedules, and barrier-free routing into their patient app. Thus, the demand for indoor positioning and navigation solutions is increasing rapidly in the market. Furthermore, the rising adoption of Bluetooth beacons and rising demand for proximity marketing, as well as the growing adoption of IoT-enabled devices in indoor positioning, is fuelling the growth of the indoor positioning and navigation market.
However, the lack of awareness regarding indoor positioning and navigation technologies is one of the factors limiting the market growth of indoor positioning and navigation.
Key Market Driver -
Growing demand for indoor positioning solutions in hospitals, airports, train stations and shopping malls
Key Market Restraint -
Lack of awareness regarding indoor positioning and navigation technologies
Based on the component, the market is segmented into solutions, and services. By technology, the market is segmented into ultra-wideband technology, Bluetooth low energy, Wi-Fi, and others. By application, the market is divided into the asset and personnel tracking, location-based analytics, navigation and maps, and others. Based on vertical, the market is segmented into healthcare, retail, manufacturing, travel & hospitality, office spaces, public spaces, logistics & warehouses and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global indoor positioning and navigation market report include Apple, Inc., Cisco Systems, Inc., Broadcom, Inc., Microsoft Corporation, Google LLC, Siemens, Nokia, Qualcomm Technologies, Inc., Motorola Solution, Inc. and Samsung Group.
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The global indoor positioning and navigation market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America followed by Europe, dominated the global indoor positioning and navigation market in 2018, owing to the growing demand for indoor location technology to enhance the lean automation and robotics processes. Furthermore, the increasing demand for indoor technologies across various sectors including retail, travel, hospitality, healthcare, and public spaces is anticipated to fuel the demand for indoor positioning and navigation solutions in Asia Pacific. Additionally, the rising penetration of mobile computing devices is driving the indoor positioning and navigation market growth in Asia Pacific. Latin America and the Middle East & Africa are projected to register a comparatively higher CAGR by the end of the forecast period.
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