progress at the fastest rate of 33.3 % over the next few years . RFID technology market has soared immensely owing to its growing deployment across several technological applications .
The market , depending on component , caters to hardware as well as software / apps . The types of hardware IPN system are RFID tags , cameras , networking devices and sensors . In terms of share , the leading segment could be hardware , which can also garner a significant expansion rate of 31.1 % during the conjectured period .
Considering the platform segments , the global market can be narrowed down to Android , iOSbased and more . The dominant segment could be android while the fastest expanding segment could be iOS in the forecast period .
Regional Outlook
The indoor positioning and navigation system industry has been covered extensively in the MRFR report , with respect to certain regions , namely South America , the Middle East & Africa / MEA , Europe / EU , Asia Pacific / APAC and North America .
MRFR experts confirm that the biggest gainer in the global market has been North America , which can advance further at a lucrative rate of 28.3 % in the ensuing years . The key reasons cited for the market attractiveness include the significant number of renowned players present in the region , especially in the U . S . as well as Canada . As the world ’ s leading technological hub and the early implementation of the latest technologies , the United States remains the most profitable market in the region .
As the second highest gaining market , Europe is zooming ahead to touch USD 6.39 billion by 2023-end . Increasing spending on innovations in technologies , in addition to the growing application scope of indoor navigation systems , has been favorable for the European market . The burgeoning pool of technically skilled indoor positioning and navigation vendors in the region also contributes majorly to the revenue growth .
With the fastest expansion rate of 34 %, the APAC market for indoor positioning and navigation system market is set to race ahead backed by the rapid economic growth in emerging countries like India , China , Japan , and more . The accelerated demand for cutting edge IT products , services and technologies among diverse sectors has resulted in fast growth of the regional market . The substantial increase in the use of smartphone connected devices as well as locationbased deployment has also done wonders for the regional market .
Prominent Industry Vendors
Prominent industry vendors listed in the study are Trimble Inc ., Zebra Technologies Corporation , Telit Communications PLC , Tersus GNSS Inc ., Senion AB , Septentrio N . V ., Insoft GmbH , Galileo Satelite Navigation Ltd ., NovAtel Inc ., to name a few .
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