According to a new report from ABI Research, the mobile GPS market is healthy and poised for major growth over the next five years.
Health, enterprise, wearables, and iBeacons will help to “revive” the GPS tracking device market through 2019, ABI reports, forecasting the market to reach over $3.5 billion in 2019.
The GPS personal tracking market has always had huge potential yet it has faced huge barriers around awareness and RoI, expensive devices, cellular subscriptions, indoor location and severe 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.
The projections are contained in ABI’s latest “Personal Location Device and Application Markets” report.
“The potential of this market continues to draw investment and interest. Over the last 12 months, there has been a host of companies entering this space,” says senior ABI analyst Patrick Connolly. “As well as a steady stream of start-ups 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,” Connolly adds.