In a new report on tracking and navigation LBS (Location Based Services), Juniper Research has estimated that revenues from wireless tracking services in Western Europe are expected to reach nearly 3.3 billion euros by 2012. The study explains how this will driven by two key factors: the need to improve business efficiency and concerns over personal safety.
According to Juniper, the business sector provides the largest opportunity for tracking applications, but applications also exist in the consumer sector, e.g. for child tracking, pet tracking, "granny tracking," etc. The new report looks at two key areas within the location based services market; vehicle tracking and people tracking.
The report predicts that wireless connected vehicle tracking solutions will be regularly tracking over 15 million vehicles in Western Europe by 2012 and generating annual revenues approaching EUR 2.8 billion as a wide range of businesses adopt tracking solutions to monitor, schedule and route their vehicle fleets more effectively.
Report author, Bruce Gibson, commented, "Vehicle tracking solutions have been around for many years providing real business benefits in the transport and distribution industries. This is now set to spread to other industries as solution costs decrease and the awareness of the capabilities and potential business benefits of wireless tracking solutions grows — driven in no small part by the high profile of consumer navigation solutions and the integration of navigation functionality in commercial tracking solutions."
The tracking of people through their mobile phones is also set to increase as concerns over personal security outweigh reservations over privacy and as the controlled use of personal location information becomes more accepted. The tracking of staff, particularly vulnerable workers, will be a strong initial driver in the business sector, but personal security applications in the private sector, such as child tracking are also gaining acceptance.
By 2012, Juniper Research estimates that there will be more phones being tracked on a regular basis in Western Europe than vehicles, with nearly 21 million phones being tracked. However the frequency of tracking will be far lower than in the vehicle sector, with many implementations only reporting when the subject strays from a geofenced area. This means that annual service revenues generated will be much lower than in the active vehicle tracking sector at just under EUR 500 million by 2012.
Juniper Research assessed the current and future status of the tracking and navigation market based on interviews, case studies and analysis from representatives of some of the leading organisations in the growing tracking and navigation industry.