Market Analysis
Overview
The rapid development of GPS and Sensor technology (e.g. RFID) together with the open source software development in last few years shake up the existing market segments. It creates the huge opportunity for the new and existing players in the new domain. The existing market domains are being redefined. New market segments are emerging. Soniya's uDSP platform is a perfect vehicle to drive into the new wave. the universal nature of the platform creates endless possibilities for creating new suite of applications in the following (but not limited to) GPS and Asset management segments:
- Multi-task mobile asset and workforce Management
- Integrated fleet management
- Security(law enforcement and homeland security)
- Personal safety
- Location based social networking
- vehicle navigation with real event integration
- Location Based Commons
- Computer tracking
- Real-time logistic asset tracking and inventory control
Major Market Trends
The sudden rise in the application of this technology in various fields, such as fleet management, public safety, transport navigation systems and aerospace applications among others, has resulted in an outstanding growth of the GPS market. We have listed market trends that captured or yet to be captured by the industry analyst:
- According to one industry report , the GPS market will continue to grow, reaching $28.9 billion by 2010. Prices of GPS chipsets are falling, in turn boosting market adoption of GPS-based products.
- According to IdTechEx, RFID Market $2.77Bn in 2006 to $12.35Bn in 2010. This includes many new markets that are being created, such as the market for Real Time Location Systems using active RFID, which will itself be more than $6Bn in 2016.
- The GPS market for Fleet Management Worldwide is approximately US $ 4 Billion in the year 2005 and it is expected to grow at 3.4 % by the year 2010.
- The item-level tagging market is forecasted to grow at a CAGR of over 55% during 2006 to 2016
- By 2012, the worldwide mobile telematics industry will sell systems valued in excess of $52 billion
- The global automotive telematics sector will expand at a modest 3.6% compound annual growth rate (CAGR) to reach more than $48 billion in 2012. Specialized niches in agriculture, intelligent transport systems and construction will rise at rates above a 10% CAGR
- Mobile Location Technology: the global market for mobile location technologies increased from $19.3 billion in 2006 to an estimated 23.2 billion by the end of 2007. It should reach $48.8 billion by 2012, a compound annual growth rate of 16.1%. The U.S. is expected to retain its position as the world's largest market for mobile location technologies through 2012
- The compound impact of integrating of multiple technologies and create cross domainvalue-added application that does not fit into any existing market domain: The trend is real now. But No analyst has even produced any estimate.