The Low Power Geolocation by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Low Power Geolocation , The low power geolocation market size has grown exponentially in recent years. It will grow from $38.91 billion in 2023 to $48.08 billion in 2024 at a compound annual growth rate (CAGR) of 23.6%. The growth in the historic period can be attributed to proliferation of iot devices, increasing dependence on mobile devices, increased growth in fleet management, asset tracking and logistics optimization, increased demand in agriculture.
The low power geolocation market size is expected to see exponential growth in the next few years. It will grow to $112.47 billion in 2028 at a compound annual growth rate (CAGR) of 23.7%. The growth in the forecast period can be attributed to expansion of smart cities initiatives, growth in precision agriculture, development of energy harvesting solutions, increasing demand for low-power solutions in healthcare.. Major trends in the forecast period include diversification of industry applications, interoperability and standardization, rise of geospatial analytics, focus on privacy-preserving solutions, environmental sustainability.
Increased deployment of 5G network solutions across key nations is driving the growth of the low power geolocation market. The penetration of 5G networks allows more devices to be connected over the internet with high speed which offers better positioning accuracy, thus boosting the low power geolocation market. According to UK-based consulting company, Omdia, the world added 124 million 5G connections between Q1 and Q2 of 2021, increasing 41% from 305 million to 429 million. Hence, the increasing deployment of 5G network solutions is expected to boost the market in the forecast period.
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The low power geolocation market covered in this report is segmented –
1) By Type: Software And Platform, Hardware, Services
2) By Technology: Global Positioning System (GPS), Wi-Fi, Bluetooth, Ultra-Wideband, Low-Power Wide Area Network (LPWAN), Other Technologies
3) By Geolocation Area: Outdoor, Indoor
4) By Industry: Logistics And Transportation, Healthcare, Power Utilities, Agriculture, Consumer Electronics
Technological advancement is a key trend gaining popularity in the low power geolocation market. Many companies are developing new innovative solutions and products to provide an enhanced experience to its client and users. For instance, in June 2022, Quectel Wireless Solutions, a China-based IoT solutions provider, launched LC76G module, a compact single-band ultra-low power GNSS module featuring fast and accurate location performance. LC76G can receive and process signals from all constellations such as GPS, GLONASS, BeiDou, Galileo, and QZSS, which in combination with the support of SBAS increases the number of visible satellites and enhances positioning accuracy. The LC76G module can receive signals from up to 47 satellites and achieve 1.5m positioning accuracy representing a 40% improvement over previous generations of devices.
The low power geolocation market report table of contents includes:
1. Executive Summary
2. Low Power Geolocation Market Characteristics
3. Low Power Geolocation Market Trends And Strategies
4. Low Power Geolocation Market – Macro Economic Scenario
5. Global Low Power Geolocation Market Size and Growth
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26. South America Low Power Geolocation Market
27. Brazil Low Power Geolocation Market
28. Middle East Low Power Geolocation Market
29. Africa Low Power Geolocation Market
30. Low Power Geolocation Market Competitive Landscape And Company Profiles
Top Major Players:
- Cisco Systems Inc
- Digital Matter LL
- Favendo GmbH
- Hoopo Systems Ltd
- Kerlink S. A
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