Navigant Research Report Shows Global Revenue for Lighting-Based Indoor Positioning Systems Is Expected to Exceed $3 Billion in 2027
Visible light communication and Bluetooth Low Energy are the two most common technologies available for lighting-based IPS
A new report from Navigant Research analyzes the global market for lighting-based indoor positioning systems (IPS), including hardware, software, and services within commercial buildings, while providing global market forecasts for revenue through 2027.
Location-based services and mapping via global positioning systems (GPS) is commonplace in the outdoor environment, and in recent years, these functionalities have begun to transition indoors through lighting systems. IPS are often viewed as GPS for the built environment, leveraging advances in the Internet of Things (IoT) for lighting concept to provide value to facility owners, managers, and corporations, as well as building occupants, such as employees within an office building or shoppers in a retail store. Click to tweet: According to a new report from @NavigantRSRCH, global revenue for lighting-based IPS is expected to increase from $387.7 million in 2018 to $3.3 billion in 2027.
“Lighting-based IPS is a nascent market, but strong growth is expected over the next 10 years,” says Krystal Maxwell, senior research analyst at Navigant Research. “North America and Europe are driving this market, as there is an increased interest in enhancing the occupant and shopper experience, improving operational efficiencies, and increasing energy savings. These factors, coupled with technological advancements, provide the potential for this market.”
Enabling IPS are various technologies, ranging from Wi-Fi to Bluetooth beacon technology. According to the report, visible light communication (VLC) and Bluetooth Low Energy (BLE) are currently the two most common technologies available for a lighting-based IPS.
The report, Lighting-Based Indoor Positioning Systems, analyzes the global market for lighting-based IPS, including hardware, software, and services within commercial buildings. The study provides an overview of prevalent technologies for lighting-based IPS, examines use cases, and provides case studies highlighting location-based services in select building types. Market issues including key drivers and barriers of lighting-based IPS in commercial buildings are also covered. Global market forecasts for revenue segmented by offering type (hardware, software, and services), building type, and region extend through 2027. An Executive Summary of the report is available for free download on the Navigant Research website.
* The information contained in this press release concerning the report, Lighting-Based Indoor Positioning Systems, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.