IPIN market to see 55% CAGR through 2023
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IPIN market to see 55% CAGR through 2023

An Indoor Positioning and Indoor Navigation (IPIN) system locates, navigates and tracks objects inside any indoor environment by using magnetic fields, radio waves, acoustic signals collected by mobile devices.

The global indoor positioning and indoor navigation market is expected to grow with a CAGR [compound annual growth rate] of about 55% during the forecast period of 2016-2023, according to Research and Markets (www.researchandmarkes.com). Increasing adoption of IPIN solutions and services in healthcare, commercial buildings, hospitality, etc., is fueling growth in the global IPIN market, adds the research group. Also, increasing adoption of radio frequency identification is boosting the growth of the global IPIN market during the forecast period.

However, large processing time and delays is the factor restraining the growth of the global IPIN market during the forecast period, says Research and Markets. The aviation sector is expected to dominate the global IPIN market during the forecast period owing to increased adoption of beacon technology.

 

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