Global Geo IoT Markets Report 2022-2027: A $67.8 Billion Market by 2028

Just as location determination has become an essential element of personal communications, so shall presence detection and location-aware technologies be key to the long-term success of the Internet of Things (IoT).

Geo IoT will positively impact many industry verticals. For example, location-enabled IoT brings connectivity, process improvements, and data to both shoppers and retailers.

Many enterprises are already seeing potential due to the inclusion of location tracking in IoT and use the ability of technologies integrated in IoT to sense and detect signals transmitted and received from tagged objects or sensors on a real-time basis. There are various solutions and applications developed for business and individual needs based on location-enabled IoT including smart cities, location-based marketing, and various indoor location applications inside stores, hospitals, and offices.

The use of mobile phones and beacons as transceivers is encouraging new application areas in location enabled IoT solutions. Location-based services and location-based advertising and marketing are the key areas of development using mobile phones and beacons.

Location-enabled IoT will soon become a global need. Unlike any other business, location enabled IoT solution providers will need to be strong enough in operations to cater to various locations other than they operate today because there will be a continuous requirement for onsite calibrations and up-gradations of the tracking devices such as sensors and beacons.