The demand for Indoor Positioning Systems will grow between 2018 and 2023
The report published by Knowledge Sourcing Intelligence titled “Indoor Positioning System Market - Forecast From 2018 to 2023” studies the various factors affecting the demand for Indoor Positioning System across the globe. The report has been segmented by component (software, hardware, services), end-user industry (retail, transportation, media and entertainment, hospitality, others), and by geography, covering five regions namely North America, South America, Europe, Middle East and Africa and the Asia Pacific, and some of the major economies in each of these regions.
The rapid growth of retail and travel and tourism industries is one of the major drivers of the indoor positioning system market. Rising investments by industry players into new technologies to enhance customer’s experience and safety are escalating the growth of indoor positioning system market. However, the inefficiency of existing GPS technology to accurately position people indoors is hindering the growth of indoor positioning system market.
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Retail sector holds the major market share
By end-user industry, retail sector accounted for the major market share in 2017 owing to the rising proliferation of smartphones and other connected devices among consumers. Rise in the number of supermarkets, hypermarkets, and malls, especially in developing economies, is also augmenting the demand for indoor positioning system across the retail sector for delivering a unique shopping and leisure experience by removing friction while increasing personalization on all touch-points.
North America dominates global indoor positioning system market
Geographically, indoor positioning system market is segmented as North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America holds the major market share is owing to the early adoption of new technologies coupled with available of highly-developed infrastructure. High investments in technologies to provide better services and experience to consumers across various end-user industries also contribute to the growth of indoor positioning system market in this region.
This report also includes a study of strategies and product portfolios of some of the leading companies in the indoor positioning system market. It consists of company profiles of the leading companies such as Apple, Broadcom, Cisco Systems, GeomMoby, and Google, among others.
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.
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