The industry for navigation system and indoor positioning markets has grown rapidly in the recent times due to increased prevalence of smart devices and structures. Market Research Future which focuses in market reports related to the semiconductors and electronics sector amongst others lately published a report on this industry. The industry is anticipated to expand at a CAGR of 30% in the forecast period.
Amplified level of demand for this industry is driving the growth and expansion of this market steadily. Construction of large structures or buildings in recent times has increased the need for this technology, as people need assistance to navigate these structures and also locate people they need to in such places. The convenience and the ease of use of such systems has been acting as a catalyst for further growth.
The market has been segmented into the categories of type, verticals, technology, and applications. The type includes indoor location based analytics and indoor navigations & maps, verticals includes consumer electronics such as smartphone, Tablet/PC, IT, transport & logistics, entertainment and healthcare technology which includes RFID, cellular, WLAN (IEEE 802.11), and bluetooth (IEEE 802.15), whereas application includes navigation, positioning, location based promotions ,and geo-fencing among others.
Detailed Regional Analysis
Considering the geographical spread of Indoor Positioning and Navigation System Market, North America holds the main spot since the year 2015 owing to technological improvement by substituting GPS technology to IPIN and several other government initiatives which have helped the market to develop in the forecast period. The North American market is trailed by Europe.
The Asia-pacific region is estimated to develop at a swift rate in the forecast period owing to rising investment by key players in the navigation and Indoor positioning market in this region.
Global Competitive Analysis
Due to the lucrative potential of this market, the contenders in the industry are aiming to grow their market portion to a by the usage of major assets to enable growth transformations which will be good for the long run transformation of the sector. This outlook is favorable for the volume driven growth of the sector. Diverse products will increase the demand levels of the industry which will lead to speedy growth in the market. The industry is maintaining the growth potential of the market through continuous ongoing course advances and supporting financial flexibility to spend in the finest strategies when they arise.
Some of the main players in industry for Indoor Positioning and Navigation System are Qualcomm Technologies Inc. (U.S.) Google Inc. (U.S), Nokia Corporation (Finland), Apple Inc. (U.S), Cisco System Inc. (U.S) and Microsoft Corp (U.S) to name a few of the players existing in the segment.
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