9 January 2019 - Location
Based Service is becoming need of the time for a broad spectrum
of mobile phones. Location positioning, location navigation, location aware
search, commerce and advertisements. But in practical, the location based
networks experience some shortcomings in form of support and power consumption
of receiving GPS and Wi-Fi signals which marks the need for indoor networks to
address using an efficient calibration. On the basis of end-user, the global
indoor positioning systems (IPS) market is segmented into transportation,
hospitality, entertainment, shopping and public buildings.
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Commercial importance of IPS
market depends on two factors, access point density and the location
positioning algorithms employed. Further, this can be bifurcated into two
approaches, signal propagation and signal heat maps. Overall, an indoor
positioning and indoor navigation is a network of devices used in mapping
people and objects inside a building using wireless technologies. The
technology ensures enhanced connectivity, better access and indoor navigation.
Further, these devices and solutions enhance customer privacy and is
anticipated to advance existing maps and navigation solutions and software.
Therefore, with the growing use in hospitals, oil & gas, commercial
complex, mining and other various applications drive the market during the
forecast period.
The key driving factors
responsible for the growth of indoor positioning systems (IPS) market includes
rise in smartphones, non-viability of GPS to locate precise location and a
reliable and secure mode of assistance for governments to ensure public safety.
Additionally, growth in trend of digitization, use of smartphones with
innovative mobile application, mobile commerce and technological advancement
are contributing to the growth of indoor location market. Moreover, the
government concerns to deploy a better positioning technology for public safety
and urban security segment are augmenting the market demand. On the basis of component, the global indoor
positioning & navigation market is segmented into technologies, RF-based
(Wi-Fi/BLE), Sensor and Tag based, software tools, visualization, location
analytics, context accelerator, professional services and managed services.
Context accelerator and software tools are anticipated to grow at a higher CAGR
during the forecast period owing to recognition of customer’s location based
needs. Further, professional services are also anticipated to grow at a higher
CAGR during the forecast period owing to boosting of growth and awareness of
indoor location technology for navigation. Service segment is anticipated to
grow at a higher CAGR owing to a faster adoption in the indoor location market.
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