Worldwide Low Power Geolocation Industry to 2027 - Integration of Geolocation With IoT Technology is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Low Power Geolocation Market By Geolocation Area, By Technology, By Solutions, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.

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.

Key Market Players

Geolocation is the process of identifying, locating, and communicating an accurate location of computer, networking device, orequipment. 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, includinga 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, is expected to 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 Factor:

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.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

2.1 Introduction

2.1.1 Overview

2.1.2 Market Composition and Scenario

2.2 Key Factors Impacting the Market

2.2.1 Market Drivers

2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global

3.1 Recent Industry Wide Strategic Developments

3.1.1 Partnerships, Collaborations and Agreements