Identifying new market niches
Proactively researching the opportunity for new market niches is the task of every entrepreneur. In the case of a GPS tracking business, there will always be a market opportunity where real-time location is necessary.
If we talk about asset income, for example, freezer rental, at first glance it seems that it does not need a location because it is stationary. However, it can be a business opportunity, as with the correct equipment, it is possible to alert the owner that they have moved without permission and trigger an action for the proper recovery.
This is where you can take advantage of DeltaTracking as part of the solution that you propose to your customers. With tools and notifications in real time, DeltaTracking will be the perfect ally in any proposed solution.
Entering new market niches
Every GPS tracking business must be based on active communication with the customer to differentiate itself with the service.
On the other hand, a platform like DeltaTracking is an ally in any industry. An entrepreneur can use it, to adapt the requirements to the different tools that can be found in it.
New Market Niches for the GPS Tracking Business
The evolution of technology has opened up new market niches in the GPS tracking business. Among them we can mention the following:
- Location of rental assets (mobile and non-mobile)
- Support in the logistics industry
- Verification of times and routes in public transport
- Supervision in the sales force
- Active safety, for mobile assets
- Supervision of visits in the pharmaceutical industry
If you wonder which of them has the most potential? The answer is that it will depend on the moment of the market and the industry in which the opportunity is seen.
Remember that every industry has location needs that can be leveraged. A tool like DeltaTracking can give you the edge, adapting to the common needs of any industry.
Other niche markets for the GPS tracking business
- Pets: It is an interesting niche that is growing in countries like Mexico and the United States.
- Bicycles: Represents a need for mobility in European countries, and is a growing niche in Latin America, as a hobby and sport.
- Real-time cargo vehicle telemetry: We must consider that the market is increasingly sophisticated. Telemetry continues to grow as a cost optimization and monitoring strategy.
- Moveable robotic devices: This is a niche that is still in its early stages.
- Merchandise containers: It is a real need in most countries, such as electronic locks and we have real-time location.
- High-cost assets that have mobility: It is a necessity for timely control and recovery, and an addition in the insurance industry.
- Monitoring services for personal use: The COVID-19 pandemic has opened a series of challenges and needs, due to mobility restrictions and protection of health security. Geolocation is an opportunity that has become a new norm in most industries. Especially for remote monitoring and control. The location market is changing along with the pandemic. Although this has taken us by surprise, the need for localization is skyrocketing. This is creating a new opportunity for the GPS tracking business that decides to enter the remote location market.
New markets for the future
Humanity is changing many industries at an accelerated rate.
For the same reason, the needs are increasingly sophisticated.
GPS has come to stay and with the incorporation of the
Internet of Things (IoT), the markets are varied and opportune for those who wish to become part of them, providing innovative solutions, tools and services around this technology.
In conclusion, the imagination and the market opportunity, is a task that every entrepreneur can verify according to the experience and the industry they serve. For this, it is important to know the terrain where it is currently and be alert to the changes generated by the industry, to find new needs and be able to satisfy them.