The indoor positioning and navigation system market is growing at a rapid pace. Indoor positioning and navigation (IPN) systems garner substantial market prominence, becoming a prominent position-awareness technology. IPN systems are viewed as an important and must-have feature in communication devices. Besides, IPN has garnered tremendous commercial interest, which has reflected favorably on its market globally. 

Moreover, substantial R&D investments continued to rise in IPN technology, alongside the inevitably improving service quality and functionality escalate the market valuation. According to Market Research Future (MRFR), the Indoor Positioning and Navigation System Market share is expected to reach USD 92.36 Billion by 2030, expanding at a compound annual growth rate (CAGR) of 32.56% during the forecast period.

Additionally, the market growth attributes to various advantages of IPN systems in mega-size manufacturing facilities, warehouses, and massive buildings. The emergence of a range of powerful sensors and wireless connection systems has allowed the development of more effective IPN systems. Also, healthy growth in the RFID segment and rapid implementations in various technological applications substantiate market growth. 

However, compared to GPS, IPN is a complex position awareness system. Moreover, ease of accessibility that leads to cyber threats and issues regarding unstructured data storage are the major factors predicted to impede market growth. Nevertheless, the emergence of adept technologies, advanced equipment, and the availability of emergency communication services would support market growth throughout the review period.

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Competitive Landscape:
The prominent key players of the IPN market in the global market are mentioned down below.

• Google
• Inpixon
• Hewlett Packard Enterprise Development LP
• Juniper Networks, Inc.
• HID Global Corporation
• Microsoft
• Apple Inc.

Indoor Positioning and Navigation System Market – Segments 

The report is segmented into four dynamics; 

By Technology   : Wi-Fi, UWB, Bluetooth Low Energy (BLE), Cellular based, RFID, Lo-Ra, and others. 

By Component  : Hardware (Cameras, Sensors, RFID tags, Networking devices, others) and Software/Apps.

By Platform        : Android-based, iOS-based, and others.

By Regions         : Asia Pacific, North America, Europe, and Rest-of-the-World.

Indoor Positioning and Navigation System Market – Regional Analysis

North America dominates the global indoor positioning and navigation system market. The largest market share attributes to the vast technological advances and the strong presence of notable market players in the region. Mexico, Canada, and the US drive the IPN system market in North America. 

Among these countries, the US, with its indoor positioning and navigation system named NAVSTAR GPS, accounts for the largest share in the regional market. The US is also known as the global technological hub, which has led to the early adoption of innovative technologies in the region. The North American positioning and navigation system market is projected to retain its dominance, growing at 28.3% CAGR throughout the review period.

Europe stands second in the global indoor positioning and navigation system market. Market growth is driven by the increasing adoption of GPS services and cloud-based services. Additionally, the proliferation of smart connected devices boosts the market growth, providing enormous opportunities across businesses. 

The increasing use of navigation services and solutions in the region provides a better scope for the European countries to advance in location-based services. Germany, Netherlands, and the UK are rapidly growing markets for navigation systems. The European indoor positioning and navigation system market is anticipated to show a rapid rate through the forecast period, creating a valuation of USD 6.39 BN by the end of 2023.

The Asia Pacific region is gradually emerging as a promising market for indoor positioning and navigation systems globally. Factors such as the demand for advanced IT products and services from several industrial sectors and the positive economic expansions in developing countries such as China, India, Japan, and others influence the regional market growth. 

Furthermore, the presence of large telecom industries and the proliferation of smartphones increase the application scope for navigation systems in the region. The region is also showing immense potential for increased investments in new satellite programs. The APAC indoor positioning and navigation system market is expected to create a substantial revenue pocket, growing at 34%CAGR over the forecast period.

Global IPN System Market – Competitive Analysis 

The indoor positioning and navigation system market appears to be competitive, owing to the presence of numerous well-established players. Mergers & acquisitions, innovation, and collaborations are the key trends for the leading players to gain a larger competitive share in the market. 

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Indoor Positioning and Navigation System Industry Developments:

January (2023): Indoor positioning company Bluvision raises $10 million in Series A funding.

February (2023): Apple releases iOS 15 with new indoor maps features for airports, shopping malls, and other large venues.

March (2023): Google releases Android 12 with new indoor positioning features for retail stores and other businesses.

April (2023): Indoor positioning company Ubisense announces partnership with Siemens to bring indoor navigation to industrial facilities.

May (2023): Indoor positioning company IndoorAtlas releases new SDK that makes it easier to build indoor positioning apps.

June (2023): Indoor positioning company Wifarer announces partnership with the City of London to bring indoor navigation to public spaces.

These are just a few of the many indoor positioning and navigation industry developments that have happened in 2023. The market for indoor positioning is growing rapidly, and we can expect to see even more innovation in the coming years.

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About Market Research Future (MRFR):

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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