Low power geolocation solutions that are powered by Bluetooth tend to play a major role in indoor positioning. At the same time, growing need for enhancing fleet management solutions has corroborated the development of smart structure and set-up across shopping malls and airports. And, the demand for geolocation solutions has increased so as to locate, categorize, and connect the exact location of a networking expedient. It makes room for proper positioning of devices based on certain geographical measures.
According to Allied Market Research, the global low power geolocation market is projected to register a significant CAGR from 2021 to 2030. In the last few years, there’s been a steep surge in demand for improved fleet management, which in turn has given way to the pressing call for enhanced real-time location tracking solutions that are meant to perk up operational efficiency of the convoy. These factors have boosted the market growth in several ways. At the same time, deployment of next-gen expedient trackers is expected to create an array of opportunities for the key players in the industry.
The potential ofIoT is huge indeed. Be it about treating soil extents in remote farms to produce better crops or about tracking a fleet, the technology is literally everywhere, handling and tracing things of all categories. Especially monitoring applications in the oceans is challenging indeed. As per a report published by the World Shipping Council in 2020, approximately one thousand five hundred containers are reported to be lost at sea every year. Unpredictedslowdownof parcels on arrival times and several inconvenience related to the conveyance of articlesfrom the fleets to the store shelves in proper condition are some ongoingmuddles.But then, unhappy customers meansweeping loss of sales. This is where geolocation solutions come into play and prove their flair.
COVID-19 scenario-
Here, it’s worth mentioning that the outbreak of the pandemic led to several obstacles such as considerable delay in disposition of geolocation solutions, dearth of adept workforce, project postponements & cancellations, and contractual compulsions. This, in turn, impacted the global low power geolocation market negatively, especially during the initial phase. However, rise in adoption of 5G network solutions across most of the countries along with deployment of IoT based advanced infrastructure solutions in sectors such as healthcare, agricultural, and consumer electronics have boosted the growth to some extent, thereby giving the market a mixed impact altogether.
Author’s Bio- Koyel Ghosh is a blogger with a strong passion and enjoys writing on miscellaneous domains, as she believes it lets her explore a wide variety of niches. She has an innate interest for creativity and enjoys experimenting with different writing styles. A writer who never stops imagining, she has been serving the corporate industry for the last four years.
Email-id: koyel.ghosh@alliedmarketresearch.net
