LONDON--(BUSINESS WIRE)--According to the latest research report released by Technavio, the global IPIN market is expected to grow at a CAGR of over 42% until 2020.
This report titled ‘Global IPIN Market 2015-2019‘, provides an in-depth analysis of the market in terms of revenue and emerging trends. This market study also presents up to date analysis and forecasts for its various application segments, including retail, healthcare, aviation, and government organizations and public places.
Request sample report: http://bit.ly/1XJRYYB
“The global IPIN market is expected to witness steady growth during the forecast period due to increased awareness and improved efficiency of indoor location services. The technology finds wider implementation, particularly in healthcare, retail, aviation, and manufacturing sectors. However, during the forecast period, the market is likely to be dominated by the retail segment on account of heavy investments by retailers in brand awareness and promotion activities. IPIN technology is therefore emerging as a cost-effective solution to cut down operating expenses involved with marketing and infrastructure management in retail stores, shopping malls, and small and medium-sized enterprises,” said Rakesh Kumar Panda, one of Technavio’s lead industry analysts for M2M and connected devices research.
Some of the other driving forces behind the growth of the global IPIN market are as follows:
- Increased adoption of beacons
- High demand for natural and organic products
- Increase in marketing and promotions
Increased adoption of beacons
The market is witnessing widespread adoption of location-based services for reaching out to potential customers with relevant advertisements and content. To achieve this, marketers are resorting to beacon-based low-cost advertising. A beacon is a low-cost device that is attached to store shelves to ensure effective communication with customers through their smartphones. Beacons are also used to enhance indoor maps, payment services, and location-sensitive product catalogues. Beacon-triggered marketing, a highly accurate type of proximity marketing works by utilizing Bluetooth signals from beacons located in stores. As beacons are easy to deploy and have inexpensive features, their adoption rate has significantly increased over the years. A typical beacon cost ranges from USD 30 to 40. Other expenses include the cost of creating content.
Proximity-based advertising
Marketers and store owners intend to keep shoppers engaged inside the store through promotional offers and notifications that result in higher sales. Passive notifications help track a shopper's smartphone and send relevant push messages that provide reviews and other place-related information as the user movement around the store. The beacon management platform allows retailers to track the effectiveness of their marketing campaigns with real-time data. In addition, it also allows retailers to distribute digital content effectively.
Low-cost BLE beacon technology
BLE beacons are designed in such a way that it can be installed at any location or near objects that broadcast radio signals. These signals are received and interpreted by a user's smartphone thus increasing contextual awareness. BLE beacon technology offers an affordable way to obtain indoor location information useful for developing innovate apps that serve customers effectively. As many retailers are showing keen interest in deploying BLE beacons, it has increased shipments and helped the market gain close to 55 million units sales in 2015.
Browse related reports:
- Global Mobile Mapping Market 2016-2020
- Smart Home M2M Market in APAC 2016-2020
- Global Home Security System Market 2015-2019
- Global Cyber Security Market 2016-2020
- Global SSL Certification Market 2016-2020
Purchase any three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
