I write about new GPS tracking devices a lot because there is always a new device to track your dog/cat/car/kids/employee/hike/fitness/grandparent/spouse/business…. there’s a tracker for pretty much everything. The trackables market is exploding and making no apologies as every company tries to shout louder that THEIR product is fast, free, reliable, expansive, inclusive, private, secure and provides relief for anxiety, added safety, convenience or simplicity to your life. And, well, maybe they do. Only time will tell which devices get enough support to work and which simply fall by the wayside. One thing that is becoming quite clear is that the market is only going to continue to get bigger.
I mentioned it briefly in last Friday’s “This Week in GPS” but thought it was worth a separate article. As I mentioned, last week ABI Research published a study estimating that the GPS tracking device market will surpass $3.5 billion by 2019; more than double its current value. This estimated jump is, according to their report, due to the increasing popularity and acceptance of wearables, iBeacons and unexpected GPS uses in health and commercial/enterprise markets.
It seems like a lot of the research is based on how quickly consumers are adjusting to the integration of GPS like technologies in their everyday lives. In fact, the study goes on to suggest that within 3 years, BLE beacons (Bluetooth low energy signals) will integrated into every aspect of life. I have even seen statistics suggesting that the GPS market overall will reach a little less than $40 billion by 2019. And, while traditional PNT devices are still around, ABI suggests that the future of the marketplace isn’t in these dedicated devices but in technology with GPS capability and integration.