Technavio, a tech-focused market research firm, has published a new report on the global IPIN market, which is expected to grow at a CAGR of close to 59% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global indoor positioning and indoor navigation (IPIN) market into the following key regions: the Americas, APAC, and EMEA.
Top three contributors for the global IPIN market are elaborated below
IPIN market in the Americas: Rising smartphone usage and huge deployment of Wi-Fi hotspots in public places are the fundamental driving forces behind growth of the IPIN market in the Americas. Industry analysts at Technavio anticipate the IPIN market in Americas to surpass USD4 billion by 2021.
According to Abhishek Sharma, a lead analyst at Technavio, specializing in research on machine-to-machine (M2M) and connected devices, “In the US, more than 220 million citizens own smartphones, and many different indoor location services can be availed via these devices.”
IPIN market in EMEA: Customers in EMEA are more inclined towards mobile payments while shopping rather than traditional modes of transaction. The growing adoption of digital signage solutions among SMEs is the major driving force behind the acceptance of IPIN solutions across business segments such as retail, healthcare, and aviation. The rapid deployment of high-speed communication networks in western Europe is also likely to foster the growth of the IPIN market in EMEA during the forecast period.
IPIN market in APAC: The development of 3G/4G mobile networks and the widespread coverage of Wi-Fi services in countries such as China drive the adoption of indoor navigation services in this region. Companies like Baidu have entered into agreements with Huawei Technologies to develop indoor navigation services in China. The increasing adoption of IPIN technology by SMEs, healthcare organizations, as well as government and public safety organizations in the coming years is expected to spur the growth of the IPIN market in APAC during the forecast period.
The leading vendors operating in the global IPIN market are:
Other prominent vendors in the market include Beaconinside, bluepath, GiPStech, MazeMap, Nextome, Pinmicro, Pointr, shopkick, and Spreo.
Other related reports:
- Global Land Mobile Radio Market 2017-2021
- Global Public Safety Long-Term Evolution Devices Market 2017-2021
- Global LTE Base Station Market 2017-2021
To read more press releases – click here