Getting In On The Ground Floor
Source: Flickr
Tractors that steer themselves, property that knows it’s been taken, aircrafts that land without pilots – that sounds like sci-fi. It’s all an outcome of the international positioning system which is mind-blowing. The industry is set to increase and opportunities for the business owner exist.
This spring the U.S. government will certainly launch its very first next generation GPS satellite to match the 30 older designs currently in use. The objective is to produce more powerful signals, increased bandwidth, and lots of potential for wise entrepreneurs.
Considering that the Defense Department made its GPS signals offered for industrial use in 1993, the marketplace for location-based services has swelled to nearly $5 billion, which’s simply the beginning. The need for these services is expected to double in the next few years. The 3 hot growth locations – monitoring, navigation, and hardware guarantee to be multibillion dollar markets by 2010.
Though start-ups are emerging all over the place, lots of innovations remain untapped. Among the untapped locations are automated navigation systems in household cars that keep drivers a safe range from other cars.
Big companies such as UPS strategy to outfit 75,000 drivers with GPS-enabled handhelds this year to assist them reach destinations more efficiently. Some smart entrepreneur who provided comparable navigation and monitoring services could likewise construct out perfectly.
Think about AtRoad, a Fremont, Calif. firm that went public in 2000. It offers “geo-fencing” software that causes email alerts if a business’s automobile speeds or goes into unauthorized locations. They charge a monthly cost of $45 per head to track more than 133,000 employees of clients such as SBC, Verizon, and the city of San Francisco. For the fiscal year ending in December, AtRoad’s revenue grew 19 % to $75.2 million. That was a massive 12.2 % net revenue margin.
This rewarding video game was likewise played by Steve Wozniak, Apple co-founder, who began Wheels of Zeus in 2002. This business incorporates GPS information with regional cordless networking. The innovation helps father and mothers stay tabs on their kids, or can notify IT supervisors when company-owned computers leave the facilities.
The farming and manufacturing companies are getting a taste of the technology by a business that clothing tractors with antennas that pick up signals to automatically assist the equipment and manage the amount of pesticides made use of.
There are companies that are utilizing this innovation to guide and navigate huge trucks around cliffs and mine shafts. The maritime industry is forecasted to invest hundreds of millions in years to coming to equip freight containers and ships with GPS receivers.
Chipmakers already cashing in are charging about $13 per gadget to put GPS chipsets in phones, electronic devices, and automobile navigation systems. And with a new federal regulation that is requiring wireless operators to consist of GPS in their phones and networking devices, chip demand is sure to explode.
Keep in mind the day when we said that expecting to buy drinking water in bottles was something the American consumer would never do. Pay for water that comes out of the kitchen sink faucet? How silly! Take a look at the industry that’s matured in that area!
Entrepreneurs – the GPS opportunity is out there, if just you understand where to look. Remember, you heard it right here initially!