Low Power Geolocation Market Growth and Business Opportunities in Coming Years | TMR
A low-power geolocation system contains an improved tracking solution designed to track the location of devices that use low-power wireless technologies such as Bluetooth, WiFi, and Zigbee
Low power geolocation technology aims to provide real-time location information about assets and users. Therefore, clearly indicate the usage of assets.
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Bluetooth-based low power geolocation market solution for indoor positioning plays a key role in providing low-cost, energy-efficient, and easy-to-implement indoor positioning solutions
Development of digital or smart infrastructure in airports, shopping malls, and other industries, as a result of increased requirement for improving fleet management solutions, is expected to drive the market during the forecast period
Low Power Geolocation Market is employed in offshore remote monitoring, livestock monitoring, asset monitoring and management, proximity detection, building and home automation, preventive maintenance, and contact tracing
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Rising Demand for Low Power Geolocation in Healthcare Industries
Based on end-use industry, the market can be segmented into logistics and transportation, mining, automotive, consumer electronics, aerospace and defense, healthcare, energy and utilities, agriculture, and others
The healthcare segment of the global low power geolocation market is estimated to expand at a rapid pace during the forecast period due to an increase in use of low power geolocation for evolution of low-power geolocation solutions in the healthcare industry, which enables physicians to track patients based on patient health information and disease alerts. These are utilized as the primary data source for analyzing the health of any patient.
Therefore, doctors can take precautions before the condition worsens and ensure that the patient is provided with a proper treatment procedure
Increasing usage of artificial intelligence in low-power geolocation solutions helps physicians and surgeons predict patient emergencies condition such as cardiopulmonary and respiratory arrest by monitoring patient health in real time, which in turn further propels the market
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North America to Lead Global Low Power Geolocation Market
In terms of region, the global low power geolocation market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
Low power geolocation has attracted the attention of all industries including logistics and transportation, energy and utilities, healthcare, oil and gas, agriculture, and consumer electronics, which helps improve operational productivity and work efficiency. New innovation in technologies is expected to further increase the demand for low power geolocation.
Increasing adoption of low-power wide-area network protocols for asset tracking and adoption of 5G networks in all industrial sectors is expected to offer significant opportunities for the market during the forecast period
In North America, major organizations and government agencies are investing heavily in technologies that are expected to provide viable opportunities for low power geolocation technology manufacturers across the region
The low power geolocation market in North America is expected to expand at a high growth rate due to presence of major players in the region and increased competition among them. The market in Europe is likely to expand at a steady pace during the forecast period because of less competition in the region.
Key Players Operating in Global Low Power Geolocation Market
Major players operating in global low power geolocation market are focusing on technological advancements and expansions to meet the rising demand for low power geolocation market. Moreover, manufacturers are undertaking mergers and acquisitions for the development of innovative and advanced technologies.
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