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The indoor positioning and indoor navigation (IPIN) market size is forecast to increase by USD 118.80 billion at a CAGR of 46.12% between 2023 and 2028. The market is experiencing significant growth, driven by the adoption of low-cost Bluetooth Low Energy (BLE) beacon technology. This technology is revolutionizing traditional retailing by enabling accurate indoor location-based services in smartphone and enhancing customer experience. However, the IPIN market faces challenges related to standardization, as various technologies and protocols coexist, making interoperability a concern. Despite this, the market is expected to expand at a robust pace due to increasing demand for location-based services in various industries, including retail, military mobile computing systems healthcare, and education. BLE-based beacons are transforming the way businesses engage with their customers, offering personalized services and promotions, and improving operational efficiency. The market is poised for substantial growth, with innovations in technology and expanding applications driving the trend.
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The market is advancing rapidly with a focus on enhancing Indoor location-based services in various sectors, such as Hospitals, addressing Privacy concerns through secure Cloud-based IoT services. Solutions include Seamless integration of Asset tracking and efficient Navigation systems, particularly beneficial for Impaired people in Electronic healthcare environments. Key players like Real-time location system providers cater to diverse needs in Office spaces, Warehouses, and other facilities using integrated Software and Hardware solutions via Wi-Fi and Bluetooth Beacons. These technologies leverage IoT and API technologies, enhancing GPS navigation systems for precise Location-based analytics, optimizing Route planning and Customer targeting across Travel and hospitality and Logistics and warehouses sectors, ensuring efficient Intermodal travel chain management and Barrier-free routing for all users, including through Ultra wideband technology.
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 market growth and trends 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 market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
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.
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The retail segment was valued at USD 945.40 million in 2018. 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.
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APAC is estimated to contribute 56% 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.
Another region contributing to the market growth is North America. 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. Hence, such factors are driving the market in North America during the forecast period.
Companies 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.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market is rapidly evolving with advancements in Customer privacy and the integration of Indoor location-based services like Proximity marketing and efficient Routing within diverse venues such as Hotels, Airports, and University buildings. Utilizing Wi-Fi and Real-time location systems, IoT, IPIN enhances navigation in University campuses and Healthcare facilities, Bluetooth beacons ensuring seamless movement and accessibility. The Dynamic positioning system platform supports real-time tracking and personalized experiences through Electronic devices across Public spaces and University premises. IPIN solutions enable precise Real-time messaging and enhanced Identity verification while optimizing Customer searches for improved user engagement and operational efficiency. As demand grows, IPIN technologies continue to innovate, offering robust solutions for indoor navigation and location-based services across diverse environments. Indoor location based services rely on Wi Fi and real time location systems to deliver accurate and timely messages to users.
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Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 46.12% |
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Market growth 2024-2028 |
USD 118.80 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
36.27 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 56% |
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Key countries |
US, UK, Germany, Canada, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alphabet Inc., Apple Inc., bluepath AG, Broadcom Inc., Cisco Systems Inc., Esri Global Inc., 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. |
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Market dynamics |
Parent market analysis, Market forecasting , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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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. |
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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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