A $38 Billion Global Opportunity for Indoor Positioning and Indoor Navigation (IPIN) by 2026 - New Research from StrategyR
SAN FRANCISCO, June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Indoor Positioning and Indoor Navigation (IPIN) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Global Indoor Positioning and Indoor Navigation (IPIN) Market to Reach $38 Billion by 2026
Amid the COVID-19 crisis, the global market for Indoor Positioning and Indoor Navigation (IPIN) estimated at US$2.8, is projected to reach a revised size of US$38 Billion by 2026, growing at a CAGR of 53.3% over the analysis period. Retail, one of the segments analyzed in the report, is projected to record a 54.6% CAG and reach US$22.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Aviation segment is readjusted to a revised 50.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion in 2021, While China is Forecast to Reach $6.2 Billion by 2026
The Indoor Positioning and Indoor Navigation (IPIN) market in the U.S. is estimated at US$1.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2026 trailing a CAGR of 50.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 47.8% and 45% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 35.4% CAGR.
Healthcare Segment to Reach US$7.5 Billion by the year 2026
In the global Healthcare segment, USA, Canada, Japan, China and Europe will drive the 56.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$399.4 Million will reach a projected size of US$9.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.