by Brianna Crandall — February 21, 2014—The need to locate people and objects accurately in real time inside buildings is driving demand for indoor global positioning system (GPS) technology, according to newly released research from global growth consulting firm Frost and Sullivan. End users across multiple segments including retail, security, marketing and gaming are adopting indoor GPS solutions for location sharing, asset tracking, emergency management, navigation, and context-aware delivery.
Frost and Sullivan’s new analysis, Breakthrough Innovations in Indoor GPS, expects the indoor GPS market to reach more than $3.5 million in revenue by 2018. This research includes key findings, benefits, challenges, participants, the value chain, techniques and approaches, analyst insights, key patents, innovations and applications, and the future of indoor GPS technology.
The most common tools used for indoor positioning include various types of sensors and communication networks, such as Bluetooth and Wi-fi. However, these approaches lack the level of accuracy end users expect, says the firm.
“The market must maintain higher levels of accuracy without increasing complexity in implementation and integration to expand its usage in critical applications,” noted Frost and Sullivan Technical Insights Research Analyst Debarun Guha Thakurta. “Developers should also invest in extensive research to find new, cost-effective techniques to locate people and objects in indoor environments with optimum precision.”
According to the report, there is also a need to create a standard technology for indoor GPS solutions, as solution providers are currently using technologies designed for other purposes, such as communication and illumination. Technology convergence and collaboration with standardization bodies are also seen as crucial to address this requirement.
“While technology developers and investors are looking to develop a unified positioning technology that delivers seamless positioning services both indoors and outdoors without the support of a GPS, the lack of individual technologies capable of ensuring optimal accuracy and coverage could lead to the convergence of multiple futuristic technologies,” observed Guha Thakurta. “With the introduction of a unified positioning system, customers will be able to locate and navigate anywhere in the world with tremendous accuracy and speed, ushering in an age where literally nothing gets lost.”
Breakthrough Innovations in Indoor GPS, a part of the firm’s Technical Insights subscription, covers the innovations in the indoor GPS technology market along with its potential to converge with other futuristic technologies to create a comprehensive unified positioning solution. This analysis also includes detailed technology analysis and industry trends evaluated following extensive interviews with market participants.
