Telecom Lead Asia: NavStar Technologies, a provider of GPS
solutions and M2M technologies, is entering into the personal GPS tracking and
monitoring market segment with the launch of a hardware and services platform.
The platform is focused on the growing personal device and
services market segment. Products and services are expected to be available in
the 3rd quarter 2012.
“Clearly the personal tracking and monitoring market segment
is the next huge growth opportunity in this industry. It provides an immediate
opportunity for two market segments; the growing elderly population and the
active/on the go young child group,” said N. Douglas Pritt, chairman &
CEO, NavStar Technologies.
According to ABI Research, GPS personal tracking devices and
applications will achieve a CAGR of 40 percent, and will generate revenue in
excess of $1 billion in 2017.
“The hardware market for personal tracking remained
below 100,000 units in 2011. However, it is forecast to reach 2.5 million units
in 2017, with significant growth in elderly, health, and lone worker markets.
Dedicated devices can offer significant benefits, with insurance and liability
increasingly encouraging the use of approved equipment,” said Patrick Connolly,
senior analyst, ABI Research.
Last month, NavStar Technologies reported significant growth in PowerSports market segment for