Low Power Geolocation Market Outlook - 2030
The global low power geolocation market size was valued at $26.78 billion in 2020, and is projected to reach $176.58 billion by 2030, registering a CAGR of 21.8% from 2021 to 2030. Geolocation is the process of locating, identifying, and communicating the precise location of a computer, networking device, or piece of equipment. It allows positioning of devices based on geographical coordinates and measures. Moreover, a low-power geolocation system in an enhanced tracking solution designed to track whereabouts of devices using low-power wireless technology such as Bluetooth, Wi-Fi, and Zigbee. In addition, low-power geolocation technology is intended to maintain real-time location information regarding assets and users. Hence, present a clear picture of asset utilization.
Bluetooth-based low power geolocation market share solution for indoor positioning plays a prime role as it offers low-cost, energy-efficient, and easy to deploy indoor positioning solutions. Moreover, development in digital or smart infrastructure across airports, retail malls, and other industries, as a result of increased requirement for improving fleet management solutions, is expected to drive the market expansion during the forecast period.
The low power geolocation market opportunity is expected to witness notable growth during the forecast period, owing to increasing need for fleet management across industries. Moreover, increase in necessity of improving operational efficiency has driven growth of the market. In addition, rise in demand for improved real-time location tracking system is expected to propel the low power geolocation market growth.
However, rise in privacy and security concerns is one of the prime factors that restrain the market growth. On the contrary, rise in adoption of low power wide area network protocols for asset tracking and the adoption of 5G network across industrial sectors are expected to provide lucrative opportunities for growth of the this market during the forecast period.
Emergence of the COVID-19 pandemic has significantly affected growth of this market, and is expected to witness relatively high growth by the end of 2021. However, the market was principally hit by several obstacles created amid the COVID-19 pandemic by logistics and consumer electronics industries, such as delay in deployment of geolocation solutions, unavailability of skilled workforce, contractual obligations, project delays, and cancellations. On the contrary, increased deployment of 5G network solutions across key nations, coupled with Internet of Things-based smart infrastructure solutions in consumer electronics, agricultural, and health care sectors, is expected to be a prime driver for the market expansion post-pandemic.
By Solutions
Hardware segment is projected as one of the most lucrative segments.
The global low power geolocation market outlook is segmented since solution, geolocation area, technology, industry vertical, and region. On the basis of solution, the market is divided into software & platform, hardware, and services. The hardware segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period. By geolocation area, it is divided into indoor and outdoor. The indoor segment was the highest revenue contributor in 2020, and is anticipated to garner significant market share during the forecast period. By technology, it is categorized into GPS, Wi-Fi, Bluetooth, UWB LPWAN, and others. The low power wide area networks (LPWAN) segment acquired the largest share in 2020, and is expected to grow at a high CAGR from 2021 to 2030. By industry vertical, the market is fragmented into logistics & transportation, healthcare, power utilities, agriculture, consumer electronics, and others. Logistics & transportation was the dominant segment, in terms of revenue in 2020, and is anticipated to witness significant growth during the forecast period.
Region wise, the low power geolocation market size is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of the Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of the Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically the U.S., remains a significant participant in the global low power geolocation market. Major organizations and government institutions in the country are intensely putting resources into the technology, which is anticipated to offer remunerative opportunities for manufacturers of low power geolocation technology across the region.
By Technology
LPWAN segment is expected to secure leading position during forecast period.
Top Impacting Factors
Significant factors that impact the growth of the global low power geolocation industry include a rise in demand for enhanced real-time location tracking systems, coupled with an increase in the need for fleet management across industries. Moreover, an increase in the necessity of improving operational efficiency is expected to drive the market during the forecast period. However, the rise in privacy and security concerns acts as a prime barrier for early adoption, which hampers the growth of the market. On the contrary, the surge in adoption of the 5G network across industries and a rise in the adoption of low-power wide-area network protocol for asset tracking are expected to offer lucrative growth opportunities to the low-power geolocation market during the forecast period.
Competition Analysis
Competitive analysis and profiles of the major low power geolocation market players such as Sigfox S.A., Hoopo, Semtech Corporation, Cisco Systems, Nestwave SAS, Kerlink S.A, Favendo GmbH, STMicroelectronics, Digital Matter, and Tracktio are provided in this report.
By Region
Asia-Pacific would exhibit the highest CAGR of 25.8% during 2021-2030
Key Benefits for Stakeholders
- This study comprises analytical depiction of the low power geolocation market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall low power geolocation market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and low power geolocation market opportunity and challenges with a detailed impact analysis.
- The current low power geolocation market forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the low power geolocation market.
- The report includes the market share of key vendors and low power geolocation market trends.
Low Power Geolocation Market Report Highlights
| Aspects | Details |
 By Solutions |
|
 By Geolocation Area |
|
 By Technology |
|
 By Industry Vertical |
|
 By Region |
|
 Key Market Players | Tracktio, Cisco Systems, Sigfox S.A., Kerlink S.A., Digital Matter, STMicroelectronics, Favendo GmbH, Semtech Corporation, Hoopo, Nestwave SAS |
Analyst Review
Low power geolocation solution is equipped with enhanced low power GPS and wireless solution enables companies to locate their valuable assets without consuming battery power offering significant growth opportunities for the market. Further, the global low power geolocation market is quickly growing as a result of rise in demand for internet of Things-based smart assets solution requirements across prime economies, which is generating a rich roadmap of geolocation solutions for growth of low power geolocation. Moreover, increase in demand for next-generation real-time data collection solutions across prime enterprises globally is expected to offer lucrative opportunities for the low-power geolocation market.
The global low power geolocation market is highly competitive, owing to strong presence of existing vendors. Low power geolocation vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to market requirements. Competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
Surge in demand for real time asset location devices globally drives the need to enhance low power geolocation solutions. Moreover, prime economics, such as the U.S., Canada, China, Germany, India, and Japan plan to develop and deploy next generation low power geolocation solutions across various sectors. For instance, on April 23, 2020, according to a report by Milcev Burba, telecom operators from Italy, Germany, and Austria shared geolocation data provided by Google to their users with the national health authorities to check if people respect obligations to stay at home, which is anticipated to provide lucrative opportunities for the market growth.
Among the analyzed regions, North America exhibits highest adoption rate of low power geolocation and has been experiencing massive expansion of the market. On the other hand, Asia-Pacific is expected to grow at a faster pace, predicting lucrative growth, owing to emerging countries, such as China, Japan, and India, investing in these technologies. Regions, such as the Middle East and Africa, are also expected to offer new opportunities in the low power geolocation market in the future.
Globally, various key players and government agencies are investing in low power geolocation to make them compatible with various industrial platforms. For instance, on January 15, 2020, according to the European Union Website, the Uwinloc project aims to develop an indoor geolocation solution that is very different from existing solutions by combining various technologies involved on the internet of things, big data, and geolocation. In addition, in 2020, the University of Turin, in partnership with the U.S. company Cuebiq, studied the movements of around 170,000 Italians via their smartphones during the lockdown. The aim is to analyze the effect of the measures taken to limit the spread of the infection. All these developments across low power geolocation showcase lucrative growth opportunities for the market growth.
The key players profiled in the report include Sigfox S.A., Hoopo, Semtech Corporation, Cisco Systems, Nestwave SAS, Kerlink S.A, Favendo GmbH, STMicroelectronics, Digital Matter, and Tracktio are provided into the report.
The Low Power Geolocation Market is estimated to grow at a CAGR of 21.8% from 2021 to 2030.
The Low Power Geolocation Market is projected to reach $176.58 Billion by 2030.
To get the latest version of sample report
Significant factors that impact the growth of the global low power geolocation industry include a rise in demand for enhanced real-time location tracking systems, coupled with an increase in the need for fleet management across industries.
The key players profiled in the report includeSigfox S.A., Hoopo, Semtech Corporation, Cisco Systems, Nestwave SAS, Kerlink S.A, Favendo GmbH and many more.
On the basis of top growing big corporations, we select top 10 players.
Low Power Geolocation Market by Solutions, Geolocation Area, Technology, And Industry Vertical.
Loading Table Of Content...
