Global Low Power Geolocation Market By Geolocation Area (Indoor and Outdoor), By Technology (LPWAN, GPS, UWB, Wi-Fi, Bluetooth and Others), By Solutions (Hardware, Software and Service), By End User (Logistics & Transportation, Healthcare, Consumer Electronics, Agriculture, Power Utilities and Others), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027
The Global Low Power Geolocation Market size is expected to reach $100.43 billion by 2027, rising at a market growth of 25.4% CAGR during the forecast period.
Geolocation is the process of identifying, locating, and communicating an accurate location of computer, networking device, or equipment. It enables any person or organization to identify the position of devices on the basis of geographical measures and coordinates. In addition, a low power geolocation system embedded into an advanced tracking solution is developed to monitor the location of devices by utilizing low power wireless technology like Wi-Fi, Bluetooth, and Zigbee.
Moreover, geolocation technology has a wide range of methods and uses. IP (Internet Protocol) addresses are utilized to recognize state, region, country, city, or postal Power.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has a considerable impact on the growth of the low power geolocation market. The pandemic's effects on the logistics and consumer electronics industries, including a shortage of experienced labourers, delays in implementing geolocation solutions, project delays, contractual responsibilities, and cross-border travel bans, have had a negative impact on the low power geolocation market.
During the recovery phase, the implementation of 5G network solutions along with IoT-based smart infrastructure solutions in sectors such as agricultural, consumer electronics, and health care, would surge in the market. Along with that, many companies are highly investing in the development of geolocation apps to keep track of the location of their resources as well as potential customers.
Market Growth Factors
Improve Fleet management operations
Fleet management is one of the important aspects for various businesses to make sure that their customers receive the products that they have ordered. Companies operating through physical stores, online channels or both, need to optimize their fleet management. Geolocation technology helps companies to keep a track of all the products and vehicles that are deployed from the distribution centers. In addition, e-commerce sites with huge warehouses and logistic spaces are among the key users of geolocation technology since it helps them to manage their inventory, track orders, and ensure the safety of their staff.
Integration of geolocation with IOT technology
Internet of Things is one of the emerging and popular technologies used across different business domains. Companies are highly integrating IoT technology to optimize their regular operations and improve interoperability. This innovation in technology is shifting the deployment of location-based devices towards the provision of integrated location services, which helps in extracting information to enhance location awareness among various business procedures.
Market Restraining Factors
Growing safety and security concerns
While using geolocation, the major concern that arises from the consumers is the safety and privacy of their data. It is important for companies to aware consumers of the fact that their data is being utilized by the companies for their personal objectives. Any company cannot extract their location information without their permission owing to various regulations imposed on consumer data privacy. Along with that, many criminals can use geolocation technologies for their ill practices.
Geolocation Area Outlook
Based on Geolocation Area, the market is segmented into Indoor and Outdoor. The outdoor segment is projected to display the fastest growth rate over the forecast period. By using outdoor geolocations, governments and companies can track their delivery vehicles and equipment in real-time, along with that, this technology assists companies to receive alerts when an order is dispatched and received by the customer safely.
Based on Technology, the market is segmented into LPWAN, GPS, UWB, Wi-Fi, Bluetooth and Others. Wi-Fi is the network of devices that links a user to a specific radiofrequency. This technology transfers signals within the indoor and outdoor infrastructure. The power usage of Wi-Fi is low and majorly depends on two aspects including precision of the database and density of access points.
Based on Solutions, the market is segmented into Hardware, Software and Service. Geolocation software utilizes the IP address of any device connected to the internet to determine its location by identifying the device's country, city, region, or zip Power. In addition, IP geolocation vendors involve longitude, latitude, local time zone, language, currency, sunrise, calling Power, and sunset data.
End User Outlook
Based on End User, the market is segmented into Logistics & Transportation, Healthcare, Consumer Electronics, Agriculture, Power Utilities and Others. The healthcare providers use geolocation in order to overcome all the challenges faced by the industry from conventional methods and technologies. Through geolocation, healthcare providers can locate their equipment, allocate resources, and plan routes for disabled people.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America dominated the low power geolocation market. It is because several organizations and government institutions in the US are heavily allocating funds and other resources in the technological advancements.
Recent Strategies deployed in Low Power Geolocation Market
Partnerships, Collaborations and Agreements
Dec-2021: Nestwave partnered with Sequans Communications, a leading global provider of 5G/4G cellular IoT connectivity solutions. The partnership aimed to add GNSS positioning to the Sequans Monarch 2 LTE-M/NB-IoT platform and address the challenges like integrating accurate geolocation into compact, battery-powered, low-cost IoT nodes providing the customers with advantages of high performance and lowest cost tracking solutions.
Dec-2021: Sigfox partnered with Skyhook, a Liberty Broadband company pioneer in location technology and intelligence. The partnership aimed to enhance the quality and performance of the prevailing tracking services on the sigfox network across the world and deliver an enhanced customer experience at an accessible cost.
Oct-2021: Cisco Systems extended its partnership with Tata Communications, an Indian telecommunications company. This expansion aimed to integrate Cisco’s Meraki-based Wi-Fi solutions with SDWAN services to provide smooth, easy management and analyzed IT infrastructure for delivering access irrespective of the place and time.
Sep-2021: Kerlink partnered with NetOP Technology, the world’s-first IoT-based wildfire prediction, and prevention system. This partnership focused on launching the world’s-first, IoT-based wildfire prediction and prevention system. The LoRaWAN based system is the integration of Kerlink Wirnet gateways with NetOP Technology Forest Capsules, which issues a warning to the public officials against the weather conditions that would increase the risk of fires and also highlights high-risk areas even in remote locations.
Jun-2021: Semtech Corporation teamed up with SkyLab, an independent supplier of wired and wireless sensors and GPS tracking and measuring systems. Under this collaboration, SkyLab would utilize Semtech LoRa Edge's asset management platform for developing its small form factor prototyping board. This would be ideal for indoor and outdoor asset management of valuables, vehicles, vessels, containers and many more.
Feb-2021: Sigfox came into a partnership with Google Cloud, a suite of cloud computing services. This partnership aimed to transform the way industry operates in Sigfox, which includes supply chain and logistics, automotive, postal services, and utilities.
Jan-2021: Digital Matter teamed up with Semtech Corporation, a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. Under this collaboration, Digital Matter would use Semtech’s LoRa Edge asset management platform to make the Yabby Edge, an innovative battery-powered tracking gadget for indoor/outdoor asset management.
Oct-2020: Semtech Corporation formed a partnership with TagoIO, a leading provider of Internet of Things Cloud platforms. Together, the companies would integrate Semtech LoRa Cloud geolocation services with LoRa Edge a platform for creating low-power asset management solutions, which would deliver long-range connectivity and low operating power, simplifying the development of innovative low-power asset management applications.
Sep-2020: Nestwave came into a partnership with Synopsys, an American electronic design automation company that focuses on silicon design and verification, silicon intellectual property, and software security and quality. With the combined expertise, the companies aimed to provide greater accuracy, lower power consumption, and lower cost compared to existing GNSS solutions.
Aug-2020: Digital Matter formed a partnership with NNNCo, a licensed telecommunications carrier, and LoRaWAN network operator. Following the partnership, the Digital Matter range of battery-powered GPS tracking devices would be N-Tick certified and available for the consumer on the NNNCo IoT Network in Australia.
Feb-2020: Digital Matter entered into a partnership with Senet, an American Low Power Wide Area Network provider for IoT/M2M applications. The partnership aimed to provide the customer of Digital Matter with immediate access to the fastest-growing global LoRaWAN network.
Product Launches and Product Expansions
Feb-2020: Semtech Corporation unveiled LoRa Edge, highly versatile and low-power software. The product would enable a wide portfolio of applications for indoor and outdoor asset management, targeting industrial, building, home, agriculture, transportation, and logistics markets.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Digital Matter, Favendo GmbH, Semtech Corporation, Cisco Systems, Inc., Hoopo Systems Ltd., STMicroelectronics N.V., Kerlink SA, Nestwave SAS, Sigfox S.A. (Citymesh), and Tracktio.
Scope of the Study
Market Segments covered in the Report:
By Geolocation Area
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