Periodic Reporting for period 1 - NAV4I (Nav4I – Precise, reliable and inexpensive navigation and localization technology for indoor environments)
Reporting period: 2015-09-01 to 2016-02-29
The overall objective of GiPStech’s innovation project is to complete the development and start the market deployment of its proprietary technology that will provide the market with the first solution able to locate and navigate indoor with a precision of 1 meter without any requirement of new infrastructure installation. Location-based services are in fact becoming pervasive given the GPS success outdoor, and users have come to expect a comparable level of service indoor, especially in large spaces. From an industrial stand-point, many are the sectors that need an effective indoor localization. In some sector indoor localization is poised to reduce costs of operations, for example allowing in healthcare to optimize the use of medical devices across a location but also finding lost or “wondering” patients in large structures; in logistics to track goods and mobile equipment; in manufacture to locate workers in the event of an accident or disaster. In other sectors indoor localization can open-up new revenue growth opportunities, for example allowing retailers to guide customers in shops and perform proximity marketing; fair organizers to finally provide visitors with a functional tool to navigate their spaces; museums to deliver smart automated guides able to optimize visitors flows.
The main objective of the Phase 1 project was to pinpoint the most attractive business cases for the initial market introduction of the GiPStech technology, prioritising those with the highest traction and lowest competitive entry barriers. To this scope, we have performed the following tasks:
1. Extensive initial market research;
2. Definition of the optimal go-to-market strategy;
3. Risk Assessment and Contingency Plan;
4. Definition of the application scenarios and use cases for various customers’ types, listed in Table 1 below;
5. Execution of market test with prospect customers;
6. Detailed business plan;
1. Extensive initial market research;
2. Definition of the optimal go-to-market strategy;
3. Risk Assessment and Contingency Plan;
4. Definition of the application scenarios and use cases for various customers’ types, listed in Table 1 below;
5. Execution of market test with prospect customers;
6. Detailed business plan;
The basic user need that has been identified and will be met upon completion of the project is the expectation from users and businesses to take advantage of “GPS-like” services in indoor settings without large investments in infrastructure.
Depending on the sector, the economic benefit and driver for the adoption of our technology can be different: from cost-saving (in healthcare where time equals cost) to revenue increasing (in retail where the ability to perform relevant marketing generates sales). Our unique selling proposition is that we are the only solution that can provide a great level of service (precision below 1 m) without investment in costly infrastructure.
The market we are pursuing, as a consequence of the multi-sectorial appeal of our technology, is very large ranging across industries and being global in scope. Many firms especially in retail and healthcare have already started programs tests in the field, spending large budgets in the frustrated effort of getting first to the promised revenue boost or expense reductions. “Mobile location-based service (LBS) revenues in Europe to reach 825 mln in 2017. North American market to reach US$ 1,295 mln in 2017”, Berg Insight - August 2013; “Global Indoor Location, Indoor Positioning and Indoor Navigation (IPIN) market to grow from $448.56 mln in 2013 to $2.60 bln in 2018” Markets and Markets – June 2013; “Indoor Location Market Worth $3.9 Billion by 2019” Markets and Markets – August 2014.
By nature, the market for a “software” solution is global in scope.
Depending on the sector, the economic benefit and driver for the adoption of our technology can be different: from cost-saving (in healthcare where time equals cost) to revenue increasing (in retail where the ability to perform relevant marketing generates sales). Our unique selling proposition is that we are the only solution that can provide a great level of service (precision below 1 m) without investment in costly infrastructure.
The market we are pursuing, as a consequence of the multi-sectorial appeal of our technology, is very large ranging across industries and being global in scope. Many firms especially in retail and healthcare have already started programs tests in the field, spending large budgets in the frustrated effort of getting first to the promised revenue boost or expense reductions. “Mobile location-based service (LBS) revenues in Europe to reach 825 mln in 2017. North American market to reach US$ 1,295 mln in 2017”, Berg Insight - August 2013; “Global Indoor Location, Indoor Positioning and Indoor Navigation (IPIN) market to grow from $448.56 mln in 2013 to $2.60 bln in 2018” Markets and Markets – June 2013; “Indoor Location Market Worth $3.9 Billion by 2019” Markets and Markets – August 2014.
By nature, the market for a “software” solution is global in scope.