You may not know it, but geolocation technology is all around you. From boardrooms to social media, this fast-growing advancement has become a foundational tool for professionals and consumers alike. However, despite its numerous everyday applications, most people know very little about geolocation and its many use cases.
To shed some light on the subject and bring you up-to-speed, we dug up these 5 Things You Probably Didn’t Know About Geolocation:
1. The 2nd Most Accurate Time Tracking Tool
Geolocation isn’t just used for determining location information, it can also be used to accurately determine time as well! In fact, GPS time signal accuracy is within 10 billionths of a second – second only to the atomic clock! Because of this, GPS is also used for time-critical events. Most banking, financial and power grids use GPS and geolocation to determine the exact time and precisely manage their transactions and system events.
2. 1,300+ Satellites Circling Earth
Geolocation is defined as “the process or technique of identifying the geographical location of a person or device by means of digital information processed via the internet.” In order to do this, satellites must be used to identify accurate coordinates for a person or device. The growth in geolocation usage has lead to parallel growth in the launch and usage of satellites. As a result, over 1,300 satellites are currently circling the earth – just hanging out over our heads – helping us move around, operate businesses and so much more!
3. 50 Years Before Commercial Use
Geolocation didn’t come to be overnight. It took many years of testing, implementation and development to achieve the location-based technology we have today. From the development of radar in 1933 to the deployment of the first satellite (Sputnik) in 1957, it was in the works way before its release for commercial use in 1983.
4. Booming Business Demand
According to a recent statement released by Research and Markets, revenue for GPS and geolocation services is expected to grow from $26 billion in 2016 to $94 billion in 2022 due to its widespread use. This makes sense with a large number of devices being built to use geolocation. From cars to cell phones, manufacturers are building smarter products with this highly profitable technology.
5. The Origin of Geolocation
GPS was invented by Roger R. Easton, Dr. Ivan Getting, and Bradford Parkinson. This team of scientists was commissioned by the U.S. Department of Defense to work on the Navstar GPS project, which aimed at developing a satellite-based tracking system for missiles, ships and other government assets.
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