The Business Research Company’s Low Power Geolocation Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LONDON, GREATER LONDON, UK, November 13, 2023 /EINPresswire.com/ — The global low power geolocation market, categorized by type, technology, geolocation area, and industry, is expected to witness substantial growth, expanding from $32.09 billion in 2022 to $40.43 billion in 2023, at a compound annual growth rate (CAGR) of 26.0%. Despite the disruptive impact of the Russia-Ukraine conflict on the global economic recovery post-COVID-19, the market is anticipated to further grow to $94.69 billion by 2027, with a CAGR of 23.7%.
Driving Growth: Increased Deployment of 5G Network Solutions
The accelerated deployment of 5G network solutions in various key nations is a significant factor propelling the growth of the low power geolocation market. The widespread adoption of 5G networks facilitates faster, more reliable, and more precise positioning accuracy for a greater number of connected devices. For instance, between Q1 and Q2 of 2021, the world witnessed an addition of 124 million 5G connections, representing a 41% increase from 305 million to 429 million, according to UK-based consulting company Omdia. The upsurge in 5G deployment is expected to drive market growth in the forecast period.
Explore the sample report on the global low power geolocation market for detailed insights and analysis:
Key Players and Market Trends
Key players such as Cisco Systems, Digital Matter, and Semtech Corporation are actively focusing on technological advancements to deliver enhanced experiences to their clients and users. For example, the launch of the LC76G module by Quectel Wireless Solutions in June 2022, featuring fast and accurate location performance, underscores the ongoing trend of technological innovation in the low power geolocation market. The module is equipped to receive and process signals from various constellations, enabling a significant improvement in positioning accuracy.
• Type: Software And Platform, Hardware, Services
• Technology: Global Positioning System (GPS), Wi-Fi, Bluetooth, Ultra-Wideband, Low-Power Wide Area Network (LPWAN), Other Technologies
• Geolocation Area: Outdoor, Indoor
• Industry: Logistics And Transportation, Healthcare, Power Utilities, Agriculture, Consumer Electronics
Geographical Insights: North America Leading the Market
North America held the largest share in the low power geolocation market in 2022, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities across various regions.
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Low Power Geolocation Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Low Power Geolocation Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on low power geolocation market size, low power geolocation market drivers and trends, low power geolocation market major players, low power geolocation market competitors’ revenues, low power geolocation market positioning, and market growth across geographies. The low power geolocation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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