What Is The Current and Historic Market Size Analysis Of The Low Power Geolocation Market?
The low power geolocation market has seen considerable growth due to a variety of factors.
• The market size for low power geolocation has experienced a substantial expansion in the past few years. It is projected to increase from $47.12 billion in 2024 to $57.68 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 22.4%.
This immense growth during the historic era can be linked to the proliferation of IoT devices, heightened reliance on mobile devices, notable expansion in fleet management, enhanced tracking of assets and logistics optimization, and a surge in demand in the agricultural sector.
What Are The Predictions for The Low Power Geolocation Market Size In The Coming Years?
The low power geolocation market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of low power geolocation is projected to undergo significant expansion in the future, with expectations for it to reach a value of $141.64 billion in 2029, at an annual compound growth rate (CAGR) of 25.2%.
The growth anticipated during the forecast period can be credited to the establishment of smart city initiatives, the surge in precision farming, the emergence of energy harvesting solutions and an increased demand for low-power solutions within the healthcare sector. The period of forecast also presents a diversified landscape of industry applications, interoperability and standardization, an increase in geospatial analytics, a shift towards solutions that preserve privacy, and environmental sustainability.
What Are The Essential Drivers Behind The Growth Of The Low Power Geolocation Market?
The growth of the low power geolocation market is being propelled by the heightened implementation of 5G network solutions in significant countries. The expansion of 5G networks paves the way for more devices to be internet-connected at high speed, improving positioning accuracy and consequently enhancing the low power geolocation market. For example, a report from the UK-based GSM Association in March 2022 reveals that the number of 5G connections is set to surpass 1 billion in 2021, with this number predicted to escalate to 2 billion by 2025. By the end of 2025, it is projected that over 20% of all mobile connections will be 5G, and a 5G network will be accessible to more than 40% of the world's population. Therefore, the forecast period is likely to see an upsurge in the market due to the growing utilization of 5G network solutions.
How Is The Global Low Power Geolocation Market Divided Into Key Segments?
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
Subsegments:
1) By Software And Platform: Geolocation Software, Geolocation Platforms, Analytics And Reporting Tools
2) By Hardware: GPS Modules, Beacons, Sensors And Antennas
3) By Services: Managed Services, Consulting Services, Integration And Deployment Services
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What Trends Are Reshaping The Future Of The Drivers Market?
The surge in technological innovation is a significant trend in the low power geolocation market. Numerous firms are creating new and inventive products to offer a superior experience to their customers. For example, Quectel Wireless Solutions, an IoT services company in China, introduced the LC76G module in June 2022. This is an extremely low-power GNSS single-band module with speedy and precise location functionality. The LC76G is capable of receiving and processing signals from all satellite constellations including GPS, GLONASS, BeiDou, Galileo, and QZSS. When combined with SBAS support, this increases the volume of visible satellites and boosts positioning precision. The LC76G module can receive signals from up to 47 satellites and achieve 1.5m positioning accuracy, which is a 40% improvement over prior device generations.
Who Are the Key Players in the Low Power Geolocation Market?
Major companies operating in the low power geolocation market include:
• Cisco Systems Inc.
• Digital Matter LLC
• Favendo GmbH
• Hoopo Systems Ltd.
• Kerlink S. A.
• Nestwave SAS
• Semtech Corporation
• STMicroelectronics N. V.
• Tracktio Software Ltd.
• Actility S. A.
• Senet Inc.
• Ubiscale SAS
• SAGEMCOM UK Ltd.
• Zozio Tech
• Analog Devices Inc.
• Bosch Sensortec GmbH
• Fujitsu Limited
• Furuno Electric Co. Ltd.
• Navika Electronics
• NXP Semiconductors N. V.
• Qualcomm Technologies Inc.
• Skyworks Solutions Inc.
• InnaLabs
• InvenSense Inc.
• Kionix Inc.
• KVH Industries Inc.
• Murata Manufacturing Co. Ltd.
• Northrop Grumman Corporation
• Robert Bosch GmbH
• Sensonor AS
• Systron Donner Inertial
• TDK Corporation
• Trimble Inc.
• Silicon Sensing Systems Limited
What are the Regional Insights into the Low Power Geolocation Market?
North America was the largest region in the low power geolocation market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the low power geolocation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
