GPS Tracking Devices to Break $3.5 Million in 2019
Health, commercial/enterprise, wearables, and iBeacons are all expected to help to revive the GPS tracking device market, which ABI Research forecasts to reach over $3.5 billion in 2019. The GPS personal tracking market has always had huge potential, yet it has faced barriers in terms of awareness and return on investment, regionalization, and fragmentation. As a result, the market has never been able to scale sufficiently to lower costs and create the revenue to support much-needed marketing/advertising campaigns. In the report entitled “Personal Location Device and Application Markets,” ABI Research considers the adoption of GPS devices and smartphone applications across family, elderly/health, lone worker, pets, and personal assets.
“The potential of this market continues to draw investment and interest,” said Patrick Connolly, senior analyst. “Over the last 12 months, there has been a host of companies entering this space. A steady stream of startups like estimate and hereO, buoyed by wearables and iBeacons, enterprise/commercial GPS companies like Quattro Wireless and Masternaut are moving into areas such as mobile workforce management and lone-worker applications, while the connected home market will evolve to support personal protection across children, pets, cars, etc., e.g., Life360/ADT. Carriers eager to solve the problem of saturated markets have begun to reconsider this space with the dawn of GPS-enabled wearables and the Internet of everything.”
For more information, visit www.abiresearch.com.