WASHINGTON, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Vantage Market Research have stated in their report that the Indoor Positioning & Navigation System Market is expected to reach USD 35.65 Billion by 2028, growing at a CAGR of 39.45% from 2021 to 2028. The report is titled as– “Indoor Positioning and Navigation System Market by Product (Asset & Personnel Tracking, Location-Based Analytics, Navigation & Maps, Others) by Application (Healthcare, Retail, Manufacturing, Travel & Hospitality, Office Spaces, Public Spaces, Logistics & Warehouses, Others), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028”. The increasing demand from various end use industries and increasing technological developments in the Indoor Positioning Systems is anticipated to augment the growth of the Indoor Positioning & Navigation System Market during the forecast period.
The software segment is projected to grow at a significant CAGR during the forecast period. This is attributed to the increasing developments of various software applications used for indoor mapping.
The location-based analytics segment held a market share of around 27.74% in 2020. This share is due to the increasing use of this analytics by various companies for the benefits it offers. These benefits include hyper-local intelligence, real-world context, and actionable insights that help to make more informed decisions.
The Wi-Fi segment is projected to grow at a CAGR of over 14.82% during the forecast period. The Wi-Fi based indoor positioning & navigation systems provide high level of accuracy from three to five meters since they use time difference of arrival measurements with wide bandwidth.
North America is expected to grow at a CAGR of over 30.56% during 2021 to 2028. This surge is attributed to the early adoption of technologies and increasing investments in the research and development of these technologies in the region.
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Some of key players in Indoor Positioning & Navigation System Market include Companies as below:
Impact of COVID-19:
The present epidemic has affected every market in the world. Many businesses, including the worldwide Indoor Positioning & Navigation System Market, have been impacted by the COVID-19 pandemic. To battle the epidemic, the government and nations have implemented a number of strict measures, including lockdown and adjustments to a number of industrial rules, in order to assist various enterprises in remaining competitive. The paper includes a full breakdown of the pre- and post-pandemic effect analysis. During the COVID-19 situation, the market is projected to gradually gain traction by implementing strategic plans.
To Get To Know More About The Short-Term And Long-Term Impacts Of COVID-19 On This Market: https://www.vantagemarketresearch.com/industry-report/indoor-positioning-and-navigation-system-market-0158
The increasing adoption of these systems and demand from various end use industries is anticipated to augment the growth of the Indoor Positioning & Navigation System Market in the years to come. The indoor positioning & navigation systems are widely used in various industries like healthcare, retail, manufacturing, travel & hospitality, office spaces, public spaces, and logistics & warehouses, among others. In healthcare sector, these systems are used in various hospitals in order to navigate patients to the required and desired wards. In logistics & warehouse these systems enables the tracking of goods and employees in real time, and offers location and time related analyses. The other important benefits offered by such applications are reduced search times, increased efficiency, process optimization and safety for employees. In case of travel & hospitality industry, the use of indoor positioning systems provides the travellers with the most pleasant travel experience possible. Additionally, even the operators benefit through real-time tracking solutions and analysis functionalities and gain insights through the collected data. Thus, owing to the various benefits offered in various industries the demand for indoor positioning & navigation system is expected to grow in the near future. Furthermore, the increasing technological developments are also anticipated to driving the growth of the market in the estimated timeframe. The introduction of Bluetooth low energy (BLE) signals is at the core of the indoor location technology and is one of the most projecting technologies emerged for indoor positioning systems. It makes use of BLE beacons that are inexpensive, small, have a long battery life, and helps in estimating a user’s indoor location.
Asia Pacific region is projected to grow at a substantial CAGR over the forecast period. This is attributable to the increasing applications and adoption of indoor positioning and navigation systems in the region.
Important questions answered in this report:
What is the estimated market size and growth rate of the Indoor Positioning & Navigation System Market?
Which segments are included in the Indoor Positioning & Navigation System Market?
Which top companies are active in the Indoor Positioning & Navigation System Market?
What are the major driving factors for the growth of the Indoor Positioning & Navigation System Market?
How can I get free sample reports or study of Indoor Positioning & Navigation System Market?
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The Indoor Positioning & Navigation System Market is segmented as follows:
By Component (Revenue: USD Million, 2016 - 2028)
By Application (Revenue: USD Million, 2016 - 2028)
Asset and Personnel Tracking
Navigation and Maps
By Technology (Revenue: USD Million, 2016 - 2028)
Bluetooth Low Energy
By End Use Industry (Revenue: USD Million, 2016 - 2028)
Travel & Hospitality
Logistics & Warehouses
By Region (Revenue: USD Million, 2016 - 2028)
Rest of Europe
South East Asia
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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