IPIN: Key market research findings
- High penetration of smartphones
- Growing applications in the retail segment
Technavio has released a new market research report on the global IPIN market, to its M2M and connected devices portfolio. The global IPIN market is expected to generate revenues of $4 billion between 2016 and 2020, owing to the increased awareness and improved efficiency of indoor location services. The Americas dominate the global market for IPIN, accounting for 60% of the total market share. The recent rise in smartphone adoption and proximity advertising services are the two significant factors that are anticipated to account for this region’s strong market dominance during the predicted period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The high penetration of smartphones in this market is a major factor driving the growth of this market. The recent increase in the demand for smartphones has led to the advent of context-aware services that provide highly personalized location services to retailers. These services help to maintain customer engagement and, therefore, resulting in market growth,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
Technavio analysts have estimated the retail segment to be the largest market segment during the forecast period. This sector presently accounts for more than 55% of the overall market share and is envisaged to be the highest revenue generating segment in this market by the end of 2020.The ability of beacons to aid in queue management and provide navigation solutions to customers is expected to result in this segment’s growth between the period of 2016 and 2020.
The leading vendors in the global IPIN market include Apple, Google, HERE, Micello, and Shopkick. The market is highly fragmented because of the presence of numerous small and large vendors. The revenue scope of indoor location services, analytics, and proximity-based advertising is expected to have a significant impact on the mobile chipset manufacturers, mobile operating system developers, handset manufacturers, and network equipment manufacturers.
A more detailed analysis is available in the Technavio report, Global IPIN Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
