Pune, Nov. 19, 2020 (GLOBE NEWSWIRE) — The growing demand for indoor positioning solutions in airports, hospitals, shopping malls, and train stations are expected to be a key factor bolstering the growth of the market, states Fortune Business Insights, in a report, titled “Indoor Positioning and Navigation Market Size, Share & Industry Analysis, By Component (Solutions, Services), By Technology (Ultra-Wideband Technology, Bluetooth Low Energy, Wi-Fi, Others), By Application (Asset and Personnel Tracking, Location-Based Analytics, Navigation and Maps, Others), By Vertical (Healthcare, Retail, Manufacturing, Travel & Hospitality) and Regional Forecast, 2019-2026.” The rising adoption of Bluetooth beacon is likely to boost the growth of the market during the forecast period.
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The report on the indoor positioning and navigation market portrays:
- Prominent understandings of the market
- Swot Analysis of the regions
- Latest market trends and developments
- Stellar insights into the competitive landscape
Increasing Implementation of Proximity Marketing to Aid Expansion
The growing need for indoor positioning solutions in warehouses, shopping malls, airports, train stations, university buildings hotels, and others are likely to foster the healthy growth of the market. For instance, indoor positioning solutions facilitates in providing details about wait times and points of interest (POIs), besides backing the intermodal travel chain. Moreover, it also provides information to track ongoing delays and changes at railway stations. Whereas, the integrated solutions offer hospitals the advantage of treatment schedules, barrier-free routing into their patient app, and other booking information regarding the patient. Furthermore, the growing popularity of navigation solutions and indoor positioning owing to its superior rewards can further enhance the potential of the market. Similarly, the increasing integration of IoT-enabled devices in indoor positioning is predicted to enable speedy expansion of the market.
Nonetheless, the paucity of awareness about indoor positioning and navigation technologies can be a critical factor in dampening the growth of the market.
Emergence of Mobile Computing Devices to Accelerate Growth in Asia Pacific
Geographically, the global indoor positioning and navigation market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is expected to account for the largest share in the global market during the forecast period. The growth in the region is attributed to the rising demand for indoor location technology to enhance the lean automation and robotics processes in various sectors. Asia Pacific is expected to account for a significant share in the global market owing to the increasing knowledge about the indoor technologies across various sectors including retail, travel, hospitality, healthcare, and public spaces is expected to promote the growth of the market. The advent of mobile computing devices is expected to further drive the market in the region. Latin America and the Middle East & Africa are expected to witness a low growth rate owing to the lack of awareness about indoor positioning solutions in the regions.
March 2019: indoo.rs., a leader in mapping applications based in Australia announced the introduction of a real-time navigation application that is established in Berlin airport through a new functionality that helps users to find their way inside the airport building.
January 2018: Here Technologies, a major provider of mapping solutions announced that it has acquired Micello, an indoor maps platform provider to back its advanced mapping and location services for both indoors and outdoors. These indoor mapping solutions help in tracking of parts on a factory floor and optimization of workspace usage.
The Report Lists the Main Companies in the Indoor Positioning and Navigation Market:
- Apple, Inc.
- Cisco Systems, Inc.
- Broadcom, Inc.
- Microsoft Corporation
- Google LLC
- Qualcomm Technologies, Inc.
- Motorola Solution, Inc.
- Samsung Group.
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