(PRWEB) July 12, 2013
The report "Indoor Location Market [Indoor Positioning and Indoor Navigation (IPIN); Indoor Mapping; Indoor LBS; Indoor Analytics; By Positioning Systems (Network-based, Independent, Hybrid)]: Global Advancements, Market Forecasts and Analysis (2013 - 2018)" , defines and segments the global indoor location market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints for this market with insights into trends, opportunities, and challenges.
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The need for connectivity, access and navigation has fuelled research in this field. Earlier, commercial positioning and navigation systems manifested as GPS devices, which are robust for outdoor environments. The absence of satellite signals in indoor environments clearly indicates the need for newer solutions that also provide enhanced customer satisfaction, branding and marketing for the environment, apart from its traditional use case for positioning and navigation.
Furthermore, Indoor Location impacts asset monitoring and automation at the enterprise level.
The technology is expected to bring in integration capabilities of analytical software tools with the existing maps and navigation software; and such applications will further enhance the growth of venues, while ensuring customer privacy and other regulatory policies. MarketsandMarkets expects that the integration of indoor location application with the existing venue’s basic network and applications will further enhance the growth of venues, while ensuring customer’s privacy and other regulatory policies.
MarketsandMarkets has segmented the global indoor location market by type of software solutions: indoor maps and navigation and indoor location-based analytics; by type of positioning systems: network-based positioning, independent positioning and hybrid positioning systems; by type of verticals: ‘offices and commercial buildings’, ‘government, public safety and urban security’, ‘healthcare’, ‘travel and hospitality’, ‘aviation’, ‘academia and education’, ‘oil, gas and mining’, ‘manufacturing, distribution and logistics’ and ‘others’; by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA) and Latin America(LA).
The report also provides insights into the opportunity analysis of specific verticals and business case analysis and roadmaps for the indoor location market.
The major forces driving this market are the increasing customer intimacy and venue-based marketing strategies, poor performance of GPS in indoor environments and government initiatives in developing positioning systems for public safety and urban security segments. The increasing demand for location-based services and applications in smartphones among users have given rise to the new business value chain, leading to growing network deployments at venues for indoor location and Indoor Positioning and Indoor Navigation (IPIN).
While the indoor location market is growing at a slow pace some of the venues have already incubated indoor location solutions into their current network scenarios. Indoor location providers look forward to gain better competitive advantage in this emerging market, thereby creating customizable new location-based applications that facilitate quicker customer adoption of the same.
The global indoor location market is estimated to grow from $448.6 million in 2013 to $2.60 billion in 2018. This represents a Compound Annual Growth Rate (CAGR) of 42.1% from 2013 to 2018. In terms of regions, North America is expected to be the biggest market in the near term, while the European region is expected to experience increased market traction in the longer term.
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