The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global low-power geolocation market is projected to grow from $24.88 billion in 2020 to $64.80 billion by 2025, at a CAGR of 21.10% from 2020 to 2025. The growth in the low-power geolocation market is expected to be driven by the increasing adoption of low-power geolocation technology, rising demand for improved real-time location tracking system, and increasing measures for improving operational efficiency.
Low-power geolocation has garnered the attention of all industry types, which include logistics and transportation, healthcare, power utilities and oil and gas, agriculture, consumer electronics, and others to increase their operational productivity and work efficiency.
Catering to logistics and transportation industry, a low-power geolocation solution collects the real-time temperature and vibration data through proximity sensors to track the shipment progress, thereby ensuring no damage being caused to the sensitive devices. Another critical application of geolocation solution in the logistics industry is the monitoring of warehouse infrastructure and distribution centers through long-range wireless connectivity, when implemented at the premises, allows optimized space utilization at its warehouse units.
With the evolution of low-power geolocation solutions in the healthcare industry, the doctors can keep track of the patients through the patients’ health information and disease indications, which are used as the primary data source for analyzing the health of any patient. Low-power geolocation solution using artificial intelligence helps the doctors and surgeons in predicting the emergency condition of patients such as cardiopulmonary and respiratory arrest by real-time monitoring of the patient’s health. Therefore, the doctors can take precautionary measures before the conditions get worse, thereby assisting in proper treatment procedures for the patients.
Impact of COVID-19 on Global Low-Power Geolocation Market
In the initial months of 2020, majorly all industries and business organizations across the world were affected due to the COVID-19 pandemic, which created nationwide lockdowns, resulting in a majority of the industries and commercial facilities to shut down their production and operational activities. Moreover, the COVID-19 pandemic has resulted in restricted movements with minimum human involvement. With such restrictions in place, there is an urgent requirement of a technology that can automatically track the shipments of essential commodities, so that it gets delivered at the desired location on time. As a result of the closure of facilities and industries, the requirement for tracking the industrial assets has been essential. At times of lockdown, these systems have helped the industries to monitor the assets in real-time operating remotely due to unavailability of the workforce. On the contrary, the supply chain of equipment required for the operation of low-power geolocation got affected, owing to which the growth of the low-power geolocation market is also expected to experience a downfall in the particular year.
The competitive landscape of the low-power geolocation market consists of different strategies undertaken by major players across the industry to gain market presence. Some of the strategies adopted by the low-power geolocation providers are partnerships, and collaborations, new product launches, and business expansions. Among all the strategies adopted, partnerships and collaborations have been the most prominent strategy adopted by the low power geolocation providers. For instance, in February 2020, Abeeway, a subsidiary of Actility, entered into a partnership with Favendo for delivering indoor as well as outdoor geolocation-based tracking solutions in Germany, Austria, and Switzerland. Additionally, in January 2020, Senet entered into a partnership with Digital Matter for the development of a long-range wide area network (LoRaWAN) platform with an inbuilt geolocation feature catering to asset monitoring and tracking applications.
Most of the low-power geolocation providers have numerous tie-ups with various communication solution providers and other technology providers. The industry landscape is quite competitive because of the market dominance of the few players in the market. Therefore, innovation and development have been the key factors for large scale growth in this market. The low-power geolocation providers are entering into strategic partnerships and expanding their businesses to increase their customer base and their overall global footprint.
Regional Market Dynamics
The low-power geolocation market holds a prominent share in various countries of North America, Europe, Asia-Pacific and Japan, and the Middle East and Africa. North America is at the forefront of the global low power geolocation market, with a high market penetration rate in the U.S., Canada, and others, which are expected to display robust market growth in the coming five years.
During the forecast period, the Asia-Pacific and Japan region is expected to flourish as one of the most lucrative markets for low-power geolocation. The Asia-Pacific and Japan region is expected to exhibit significant growth opportunities for low-power geolocation due to the increasing digitization, which has led to increased adoption of low-power geolocation in countries such as Japan, South Korea, and India, thereby increasing the adoption of low-power geolocation across organizations.
Market Report Coverage - Low-Power Geolocation
- Solution – software and platform, hardware, and services
- Application – asset monitoring and management, proximity detection and contact tracing, offshore remote monitoring, and preventive maintenance, building and home automation, livestock monitoring, and others
- Geolocation Area – outdoor and indoor
- Industry - logistics and transportation, power utilities & oil and gas, healthcare, consumer electronics, agriculture, and others
- Geolocation Technology - low power wide area network, short-range wireless, and others
- Region – North America, South America, Europe, U.K., China, Asia-Pacific and Japan, and Middle East and Africa
- North America – U.S., Canada, Mexico, and Rest-of-North America
- South America – Brazil, Argentina, and Rest-of-South America
- Europe –Germany, France, Italy, Sweden, Spain, and Rest-of-Europe
- Asia-Pacific and Japan – Japan, South Korea, India, Australia, Singapore, and Rest-of-Asia-Pacific and Japan
- Middle East Africa – Saudi Arabia, U.A.E., Israel, South Africa, and Rest-of-Middle East Africa
Market Growth Drivers
- Increasing Need for Fleet Management Across Industries
- Rising Demand for Improved Real-Time Location Tracking System
- Increasing Necessity of Improving Operational Efficiency
Market Growth Restraints
- High Cost of Deployment
- Privacy and Security Risk
- Arising Adoption of Low Power Wide Area Network Protocol for Asset Tracking
- Introduction of Next Generation Device Trackers
- Adoption of 5G Across Industries
Key Low Power Geolocation Companies Profiled
Actility S.A., Sigfox S.A., Hoopo, Semtech Corporation, Cisco Systems, Senet Inc., Nestwave SAS, Kerlink S.A., Favendo GmbH, Carius TECH spol. s.r.o, STMicroelectronics, Digital Matter, Tracktio, Ubiscale SAS, SAGEMCOM, and Zozio
Key questions answered in this report:
- What are the key trends and expansion opportunities in the global low-power geolocation market?
- What are the estimations for the global low-power geolocation market size in terms of revenue for the period 2019-2025, and what is the expected compound annual growth rate (CAGR) during the forecast period 2020-2025?
- What is the expected outlook and revenue to be generated by the different types of geolocation solutions, including software and platform, hardware, and services?
- What is the expected outlook and revenue to be generated by different types of geolocation areas, namely, outdoor and indoor, for the time period 2019-2025?
- What is the expected outlook and revenue to be generated by different industries, namely logistics and transportation, power utilities and oil and gas, healthcare, consumer electronics, agriculture, and others for the period 2019-2025?
- What is the expected outlook and revenue to be generated by different applications, namely asset monitoring and management, proximity detection and contact tracing, offshore remote monitoring and preventive maintenance, building and home automation, livestock monitoring, and others for the time period 2019-2025?
- What is the expected outlook and revenue to be generated by different communication technology, namely low-power wide area network, short-range wireless, and others for the time period 2019-2025?
- What is the current market size, forecast, and regional market trends of the low-power geolocation market across different regions: North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa?
- What will be the impact of COVID-19 on the market size, market forecast, CAGR, and market dynamics of the global low-power geolocation market across different market segmentations?
- What are the major driving forces expected to increase the demand for the global low-power geolocation market during the forecast period 2020-2025?
- What are the major restraints inhibiting the growth of the global low-power geolocation market?