ID: MRFR/SEM/2384-HCR | February 2021 | Region: Global | 100 pages
GPS Tracking Device Market Overview:
The Global GPS Tracking Device Market has aimed to receive an 11.96% CAGR by the year 2019 to 2026 forecast period. Further, the GPS Tracking Device Market has a prediction to increase at USD 3,396.20 Billion by the end of the year 2026.
The GPS tracker device is used to track and determine the present location. The moving vehicle or people are mostly using this device to know the exact current location. The major driving factor for the GPS Tracking Device Market is IoT and cloud technology. The GPS Tracker has been developed with modern technology that can provide various applications with its special features. The GPS tracker device can be used for surveillance by placing anywhere based on their range and size. Along with that, the use of standalone and advanced tracking devices is becoming more popular. In terms of National Safety, the GPS Tracker can be used at the individuals, business, and government levels to keep an eye on its real-time information.
According to the GPS Tracking Device Market Analysis, the global market has more demands in IT, telecommunications, and transportations to keep an eye on its real-time information about individuals, vehicles, and products. The GPS tracker online is useful to enhance the safety and security of businesses and consumers.
The GPS tracking industry analysis report focuses on the global market's overall growth potential based upon which the market revenue generation can be defined. Along with that, this report also highlights the competitive analysis and the market segmentation based upon regional segments to put light on the efficacy of the Tracking device industry.
As a result, slow and steadily, the Tracking device industry is hampering the global GPS tracking industry statistics and has expected to register more market revenue for the forecast period of 2023.
The major driving factor for the GPS Tracking Device Market is IoT and cloud technology. The increasing demand for IoT and cloud technology has driving the GPS Tracking Device Market Size. Along with that, the market is driving with the increasing commercial vehicle sales. Moreover, the Tracking device industry is another major driver of the global market.As a result, the Vehicle tracking system market is growing its speed with the more engagement of the major key drivers.
The GPS Tracking Device Market Analysis report mentions that various industrialists prefer advanced software tracking devices, which are about to grow slowly in the upcoming years.
The Global GPS Tracking Device Market has been divided into various segmental types, i.e., Standalone Tracker, Advance Tracker, Covert GPS Trackers, and others. These types have different functionality.
The GPS tracking industry analysis report has explained that industrialists prefer these types of tracking devices to use in their marketing field. The global market has dominated the GPS Tracking Device Market Share and has aimed to generate more market revenue during the forecast period of 2023.
The Global GPS Tracking Device Market is classified into different components such as Real-Time GPS Trackers, GPS Loggers, Personal GPS Trackers, and others based on the components segmentation.
The consumers and the companies are adopting the use of various components according to their compatibility and requirements.
The Global GPS Tracking Device Market is used across various industries based on the end-users segmentation.
Some of the GPS vehicle tracking device's important end-users include Retail, Hospitality, Education, Government, defense, Industrial, Automotive and aerospace, Healthcare, Transportation, and others.
Based on the regional classification, the Global GPS Tracking Device Market is widely spread across various regions of the world. Some of the top-performing regions include North America, Europe, Asia-Pacific, and the Rest of the World.
North America is held accountable for generating the maximum GPS Tracking Device Market Share in the previous forecast years out of all the regions. The demand for GPS vehicle tracking device is preferably high in that region. The key players are putting in maximum effort to increase the market revenue in the upcoming years.
Competitive Landscape Analysis:
The Global GPS Tracking Device Market has involved many key players to the global market to increase the market size and value. These key players are:
The GPS Tracking Device Market report explains that the key players have more competition in all the regions to develop their business and increase the global market size. For developing the market growth, they use various planning and strategies in the sales to increase the demands.
In March 2017, LMU-200 and LMU-2640 were launched by Calamp (US).
In March 2017, Class B vessel tracking solution was developed with the collaboration of Orbocomm, Pole Star Space Applications Limited (London), and Weatherdock (Germany).
The report overview is as follows:
The GPS tracking industry analysis report intends to highlight its significance in terms of its growth potential based upon the supply and demand chain. The key players manage this supply chain.
|Market Size||USD 3,396.20 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Components, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Verizon Wireless (U.S), Concox Information Technology Co., Ltd. (China), Calamp Corp. (US), Orbocomm Inc. (US), Sierra Wireless Inc. (Canada), Atrack Technology Inc. (Taiwan), Tomtom International Bv ( Neitherland), Spy tech, Inc. (U.S), Queclink Wireless Solutions Co. Ltd. (China), Laipac Technology, Inc. (Canada)|
|Key Market Opportunities||Many major players in the global GPS tracking device market have invested significantly in the development of smaller GPS tracking devices and the market has seen several new product launches in recent years.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global market of GPS tracking device is expected to thrive at 11.9% CAGR and value at USD 2.53 Billion by 2023 due to growing need for powerful navigation.
Atrack Technology Inc. (Taiwan), Calamp Corp. (US), Tomtom International Bv (Netherland), Orbocomm Inc. (US), Laipac Technology, Inc. (Canada), and Sierra Wireless Inc. (Canada) are some reputed players of the GPS tracking device market.
After the automobile industry, the transportation and the healthcare sectors are high end-users of GPS tracking device.
The increase in the adoption of cloud technology and IoT technologies are observed as prime drivers of the GPS tracking device market.
The growing need for anti-poaching patrols monitoring is expected to boost the growth of the GPS tracking device market in North America.
The Global GPS Tracking Device Market will probably experience a CAGR of 11.96% at the end of 2026.
The Global GPS Tracking Device Market has boomed, and the key players have improved their facilities to increase the production pace.