Rise in demand for IPIN devices & solutions among different venues such as airports, malls, university , hotels, warehouses, hospitals, etc are fueling market.
PORTLAND, PORTLAND, OR, UNITED STATE, June 24, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The IPIN Market Size Reach to USD 43,511 Million by 2025 | Top Players Such as – Steerpath, Pointr and AirFinder.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global indoor positioning and indoor navigation market was valued at USD 2,642 million in 2017, and is projected to reach USD 43,511 million by 2025, growing at a CAGR of 42.0% from 2018 to 2025.
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Increase in adoption of Bluetooth beacons along with surge in demand for proximity marketing drive the growth of the global IPIN market. However, the challenges regarding implementation and operations of IPIN hinder the market growth. However, increase in demand for connected devices would offer new opportunities for the market players in the next few years.
The global indoor positioning and indoor navigation market is segmented based on component, technology application, end-use industry, and region. In terms of component, the market is categorized into software, hardware, and services. Based on technology, it is divided into ultra-wideband technology, Bluetooth low energy, Wi-Fi, and others. In terms of application, the market is segmented into asset & personnel tracking, location-based analytics, navigation & maps, and others. On the basis of end-use industry, the market is segmented into healthcare, retail, manufacturing, travel & hospitality, office spaces, public spaces, logistics & warehouses, and others.
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Based on end use industry, the retail segment accounted for the dominant share in the global market in 2017, accounting for more than one-fifth of the total market share, and is estimated to maintain its dominance during the forecast period. However, the healthcare segment is expected to maintain the fastest CAGR of 47.8% from 2018 to 2025. The report discusses segments including manufacturing, office spaces, travel & hospitality, logistics, public spaces, and warehouses.
Based on technology, the Bluetooth low energy segment is estimated to portray the fastest CAGR of 45.9% during the forecast period. However, the Wi-Fi segment contributed to the highest share in 2017, accounting for more than one-third of the total market share, and is estimated to contribute the highest share throughout the forecast period. The research also analyzes segments including ultra-wideband technology and others.
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Geographically, Asia-Pacific is expected to hold the highest CAGR of 48.1% during the forecast period. However, North America accounted for the largest share, holding more than one-third of the total market share in 2017, and will maintain its highest contribution during the forecast period.
The report analyzes major market players operating in the global IPIN market such as HERE Technologies, Sensewhere, IndoorAtlas Ltd., Pointr, Steerpath Ltd., Senion AB, Nextome srl, indoo.rs, SPREO, and AirFinder.
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Key Findings of the IPIN Market:
• By application, the location-based analytics segment is expected to dominate the global indoor positioning and indoor navigation market during the forecast period.
• Based on end-use industry, the retail segment generated the highest revenue in 2017.
• Asia-Pacific is anticipated to be the fastest growing region for indoor positioning and indoor navigation market during the forecast period.
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