Globetech employs GPS to cash in on data

Globetech employs GPS to cash in on data

Mr Wichai says geospatial tech could drastically impact a large number of industries, including advanced robotics and 3D printing.
Mr Wichai says geospatial tech could drastically impact a large number of industries, including advanced robotics and 3D printing.

Globetech Co, a GPS mapping and location services firm, is looking to expand into data tracking of customer movements to more accurately calculate health and auto insurance rates.

"Geospatial or geoinformatics is just the default in today's business," said Wichai Saenghirunwattana, general manager of Globetech Co under CDG Group. "Map data is no longer about just location, but how it can turn into a decision and make a difference for other businesses."

To capture the growth opportunity, Mr Wichai said the company spent 10 million baht to introduce two solutions to enable businesses to leverage advanced geospatial technology.

Smart health analyses information from smartwatches and wearable devices that can be used by insurance firms to offer health insurance premiums depending on the user's recorded health metrics. Hospitals can also use the data to offer preventive healthcare services.

Globetech is also developing Smart Drive, a system that uses telemetric devices to analyse data from an in-car webcam and speed detector to gauge driver behaviour. This data can be used to adjust auto premiums on insurance in a user-based model.

Geospatial technology is gaining momentum, as there are an increasing number of sensors from the Internet of Things (IoT). Faster downloading of satellite images is speeding analysis of large amounts of geographical data.

Geospatial tech will take the lead in business analytics, autonomous vehicles, e-commerce deliveries, parcel tracking and machine-to-machine communication.

Citing McKinsey & Co, Mr Wichai said geospatial tech could drastically impact mobile internet, automation, the Internet of Things (IoT), cloud, advanced robotics, autonomous vehicles, next-generation genomics, energy storage and 3D printing.

He said the upcoming 5G mobile networks in Thailand will raise awareness and usage of IoT, automation, autonomous vehicles and connected cars.

The global connected car market is expected to be worth US$156.1 billion by 2023.

In Thailand currently, there are 30,000 connected cars equipped with navigation systems. That figure is expected to rise to 100,000 by the end of 2019.

Currently, Globetech's Nostra Map has a strong in-car map navigator to serve connected cars and online lifestyle content. The automotive market contributes 30% of total revenue.

This year, Globetech aims to get 10% of revenue from new data analytics solutions, increasing to 25% within three years. The total revenue growth target is 20% for 2019.

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