News |Views |Reviews

Global postioning systems - driven by GPS - satellite systems are creating new business opportunities.

This spring the U.S. government will launch its first next generation GPS satellite to complement the 30 older models already in use.  The aim is to create stronger signals, increased bandwidth. It offers lots of potential for smart entrepreneurs.

Since the Defense Department made its GPS signals available for commercial use in 1993, the market for location-based services has swelled to nearly $5 billion, and that’s just the beginning.  The demand for these services is expected to double in the next few years.  The three hot growth areas – tracking, navigation, and hardware promise to be multibillion dollar markets by 2010.

Plenty of technologies still remain untapped.  One of the untapped areas is  automated navigation systems in family cars to keep drivers a safe distance way from other vehicles.

Companies like UPS plan to outfit 75,000 drivers with GPS-enabled handhelds this year to help them reach destinations more efficiently.  Some savvy entrepreneur who offered similar navigation and tracking services could also make out nicely.

This lucrative game was also played by Steve Wozniak, Apple co-founder, who started Wheels of Zeus in 2002.  This company combines GPS data with local wireless networking.  The solution helps parents keep tabs on their children, or can alert IT managers when company-owned computers leave the premises.

Companies that are using this technology to guide and navigate big trucks.  The maritime industry is likely to invest millions in next few years to equip cargo containers and ships with GPS receivers.

Chipmakers already cashing in are charging about $13 per device to put GPS chipsets in phones, electronics, car navigation systems. 

Entrepreneurs - the GPS opportunity has arrived, if only you know where to look.  

Remember, you heard it here first!

Popularity: 22% [?]