The indoor positioning market is predicted to show double-digit growth rates every year. We have put together an infographic to show the main indoor positioning applications and their business value.
Business value comes with live installations
We brought together our experience with customers from all over the world to show the main application areas in indoor positioning and where the business value comes from in each case. Companies are slowly moving from small technology-verification demos to live installations that bring a new set of challenges. Still, this will actually show why IPS are in demand. In other words, it becomes clear who is willing to pay for the real-time location information and why. The list is not exhaustive, in future, we’ll delve into each industry in detail.
The match between application and indoor location technology
There are a number of indoor location technologies out there. Matching the application with the right technology is usually a balancing act between precision and cost. Eliko is focusing on Ultra Wideband (UWB), which is most suitable for applications that require sub-metre or even centimetre accuracy. However, for several reasons, it comes with a heftier price tag and lower battery lifetime compared to Bluetooth.
Still, we see that in many cases, precise and reliable coordinates are more important. Without them, there is no business case. In short, companies need to carefully analyse their business requirements before investing in an IPS.
Internet of Things is driving the IPS market
We also analysed the main market drivers for indoor positioning technologies. Some of the most influential drivers are the digitalisation of manufacturing and other aspects of life in the Internet of Things. The health care regulation in the U.S. is strongly influencing IPS growth in that market. Finally, as the technology matures, the cost will go down, which will expand the application areas even further.
The indoor positioning systems (IPS) market is currently where the Global Positioning System (GPS) was 15 years ago. As the IPS technologies mature and find their place in the market, more and more companies will integrate indoor positioning into their product or service offering.
The article was written by Liisa Parv, Marketing Manager at Eliko, an electronics and software development company. She brings a customer-centric view on Industrial IoT with a focus on bridging the gap between the technology industry and manufacturing.
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