Indoor Positioning Systems (IPS) have caught popular attention in recent years as a result of their capacity to provide location-based services in interior locations where GPS signals are unable to provide meaningful information. However, with a plethora of IPS technologies available, selecting a fitting solution for a specific application can be a daunting task. The objective of this paper is to conduct a comparative analysis of the various forms of indoor positioning systems, such as Wi-Fi fingerprinting, Bluetooth low energy (BLE) beacons, ultrasonic, infrared, and magnetic-based systems based on their accuracy, reliability, deployment cost, scalability, and power consumption. The results show that the choice of IPS technology depends on the application requirements, with no single solution outperforming the others in all aspects. Based on this, a selection procedure has been devised to select the most appropriate IPS technology.