Indoor Positioning System Market - Forecasts from 2018 to 2023
The Indoor Positioning System market was valued at US$5.681 billion in 2017 and is expected to grow at a CAGR of 32.38% over the forecast period to reach a total market size of US$30.575 billion by 2023. The growth of this market is being driven by rapid growth of industries like retail and travel and tourism among others. As these industries continue to grow, industry players are making significant investments into new technologies to enhance customers’ experience and safety, thus increasing the adoption of indoor positioning systems by end-users. Increasing support from governments in many regions to increase public safety is further increasing the adoption of indoor positioning systems, thus boosting the market growth. Inefficiency of existing GPS technology to accurately position people indoors has been instrumental to the growth of the market. Proliferation of smartphones and smartwatches, coupled with increasing internet penetration in many regions, has also been supporting the growth of the market significantly.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study has been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the indoor positioning system value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the indoor positioning system market.
Major industry players profiled as part of the report are Apple, Broadcom, Cisco Systems, GeoMoby, Google, Micello, Microsoft, Qualcomm Technologies, Senion and Zebra Technologies.
The Indoor Positioning System market is segmented by component, end-user industry and geography.
By End-User Industry
Media and Entertainment
Middle East and Africa