Yepzon expects the locator market to grow 35% per year and aims to grow much faster than the market. The growth strategy contains growing in the personal safety and logistic solution segments in addition to the locator market. We estimate that growth in 2018 will be strongly driven by our licensing partners and industrial services. In 2019, there will be a commercialisation of narrow band networks and we also expect the Indian market to be opened at that time.
Yepzon is positioned to capitalise on the market potential presented by a positioning service as a vital dimension of the IoT. The GPS tracking device market is set to break $3.5B by 2019 and the total worldwide addressable market for goods tracking is set to reach 3.1 billion units in 2021 (ABI Research, 6/2/2016). We aim to continually provide the category’s leading platform in consumer business.
In addition to high-volume device sales, the big opportunity lies within the service business, where revenues are projected to surpass device sales revenues in 2019. Our service business includes locating and global data in mobile networks, plus cloud services. The service business is highly profitable, with a 60-80% sales margin.
Yepzon is already the preferred brand by leading distributors both domestically and globally. Our growing roster of partners include: Amazon Europe, Elisa, Elkjöp (Gigantti), Ebay, Clas Ohlsson, XXL, Telia and Deutsche Telekom. In distribution, we have partnered with ALSO and Ingram Micro. As a technology leader, we also license our solutions (PocketFinder, US) and provide our services to other businesses (Securitas).