Location-based IoT market to reach $67.8B by 2028

This research evaluates tracking technologies, solutions, and ecosystems including major players. The report assesses the impacts of various use cases and specific considerations in terms of asset technology and solution selection. It also analyzes the outlook for the fleet tracking market globally and regionally. Quantitative data and forecasts include market segmentation by Mode (Air, Roadway, Railway, and Water), Fleet Type (Services, Transport, Taxi, Special Purpose), Vehicle Type (Car, Container, Rail, Plane, Ship, Truck, Van), Industry Verticals and Region from 2022 to 2027.

This research also assesses the satellite services market for communications and specific solutions by segment (consumer, enterprise, industrial, and government customers) as well as by industry vertical. It includes coverage of Internet access, asset tracking, surveillance, and IoT applications. It provides analysis by satellite type (LEO, MEO, and GEO) as well as by consumer and business services with segmentation by business type.

It provides forecasts for all major solution and application areas as well as by major industry verticals and market segments including consumer, enterprise, industrial, and government segments from 2022 to 2027. It also provides forecasts for satellite components and equipment such as Satellite NOC/Hub, terminal, and communications platforms.

It also evaluates satellite support for 5G coverage, applications, and services. This includes both public and private 5G networks, industry verticals, and specific implementations such as supplementing coverage for smart cities. It also addresses technology support of 5G satellite services such as artificial intelligence and the use of blockchain. Forecasts include global and regional markets from 2022 to 2027.

This research also provides an analysis of the location-based IoT market. It identifies the scope for location enabled IoT business in various parts of the globe. It covers technology requirements and developments in hardware, software, and services suitable for location enabled IoT.

Select Findings:

• The global location-based IoT market is anticipated to reach USD $67.8B by 2028
• Fleet is rapidly moving to a cloud-based support approach, especially with edge computing
• Fleets are largely not connected today, representing a huge upside for the fleet management market
• Largely untapped SMB market that segment represents 70% of the market, but 57% have no telematics
• Leading fleet management companies are moving clients towards a transaction-based self-service model
• Integrating artificial intelligence algorithms provides opportunities for value-added fleet management services
• Coupled with drone solutions, LEO-based satellites will change the face of modern communications as anywhere communications become a reality for virtually any application and industry vertical
• The global satellite service market will spawn economic development value up to 50 times the combined cost of capital expenditures to deploy infrastructure and operational expenses to maintain systems

CT Bureau