The marketplace for GPS monitoring gadgets is booming worldwide | Calamp Corporation, Sierra Wireless, Orbocomm Inc., Geotab Inc

PRESS RELEASE

Published on January 27, 2023

the global market for GPS tracking devices The research report published by Market Insight Reports uncovers the current prospects in global and key regions from the perspective of key players, countries, product types and end industries. This report studies top players in the global market and divides the market into several parameters.

This GPS Tracking Devices Market Research Report reveals the competitive landscape of the industries to understand the competition on an international level. This report study describes the projected growth of the global market for the coming years from 2023 to 2029. This research report has been compiled on the basis of static and dynamic views of the companies.

Global GPS tracking devices market size was estimated at US$1.83 billion in 2022 and is projected to reach US$4.98 billion by 2029, growing at a CAGR of 12.6% from 2023-2029.

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The leading players in the global GPS tracking devices market:

Calamp Corporation, Sierra Wireless, Inc., Orbocomm Inc., Geotab Inc, Trackimo LLC, Xirgo Technologies, Inc, Laipac Technology, Verizon Wireless, Tomtom International Bv, Spark Nano and others.

Industry development:

April 15, 2021 Sierra Wireless launches Acculink Cargo, a new managed IoT asset tracking solution

Sierra Wireless, the global leader in IoT solutions, has launched Acculink Cargo, a new managed IoT solution that businesses can quickly deploy to track the location and condition of high-value and sensitive assets. Delivered as a service for a single monthly fee, Acculink Cargo leverages Sierra Wireless’ unparalleled expertise in IoT devices, global connectivity and cloud to deliver a single solution that allows businesses to see the status of assets anywhere in the world in near real-time World monitor lets you move through their supply chains.

Regional Analysis:

With a CAGR of 13.6%, Asia Pacific is expected to dominate the market during the forecast period. One of the fastest growing markets for GPS tracking devices is Asia Pacific. During the projection period, increasing adoption of GPS technology in smartphones, tablets, network devices, IoT devices and connected cars will have a significant impact on the revenue of the market. The market for GPS tracking devices is growing due to increasing urbanization, especially in developing countries of Asia, which increases consumer demand for security, tracking and navigation.

In terms of value Europe is expected to hold the second largest market share valued at $515 million while expanding by a CAGR of 8.6% over the expected period. One of the most competitive markets for GPS tracking devices is in Europe. GPS tracking makes it easier to keep track of assets and stay in control of them. The GPS tracking market in the region is growing due to increasing sales of commercial vehicles and inexpensive tracking devices. Germany, the largest economy in the region, is expected to drive the expansion of the GPS tracking device market in Germany. As one of the largest countries in the world Germany’s GDP is likely to rise, increasing consumer spending on expensive devices and additional gadgets and protecting them.

This report segments the global GPS tracking device market based on Types:

Standalone tracker
OBD device
Advanced tracker

The advance tracker (CAGR of 14.8%)segment is expected to be the fastest growing segment during the forecast period. Installed in vehicles, cargo and containers, Advance Tracker not only helps in tracking vehicle location but also in engine diagnostics.

Based on Application, the Global GPS Tracking Devices Market is segmented into:

track cars
track asset
track people

Key features listed under Reports offering and key underscores:

– Detailed market overview
– Changed market dynamics of the industry
– In-depth market segmentation by type, application, etc.,
– Historical, current and forecast market size in terms of volume and value
– Current industry trends and developments
– Competitive landscape of GPS Tracking Devices market
– Strategies of key players and product offerings
– Potential and niche segments/regions with promising growth

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Regional Analysis For GPS Tracking Devices Market:

Geographically, this report is segmented into several key regions, with production, consumption, revenue (million USD), and market share and growth rate of GPS Tracking Devices market in these regions, from 2023 to 2029 (forecast), covering North America. Europe, China, Japan, Southeast Asia, India, North America (US, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast).

Key highlights of the report:

• Market performance (2017-2022)
• Market Outlook (2023-2029)
• Porter’s Five Forces Analysis
• Market drivers and success factors
• SWOT analysis
• value chain
• Comprehensive mapping of the competitive landscape

“Impact of the 2022 Russia-Ukraine War: Economic sanctions imposed on the Russian Federation by the United States and its allies had a negative impact on the market

The economic sanctions imposed by the US and its allies on the Russian Federation are likely to hamper the growth of this industry. In addition, the war negatively impacted global industries, causing disruptions in the flow of imports and exports. The dominance of Russia and roscosmos, a quasi-civilian space agency in the commercial space, affected alternative launch service providers in India, Japan, Europe and the US. These factors had a negative impact on the market during the war.”

Table of contents

– Market Summary
– Competitive analysis of economic impact by players
– Production, Revenue (Value) by Geographical Segmentation
GPS Tracking Devices Market Size by Type and Application
– Regional market status and outlook
– GPS Tracking Devices Market Analysis and Outlook
– Market forecast by region, type and application
– Cost determination, market dynamics
– Understanding of marketing strategy, distributors and dealers
– Analysis of market effect factors
– Research result/ conclusion
– Appendix

Finally, GPS Tracking Devices Market report is a believable source to get the market research that will exponentially accelerate your business. The report gives the main location, economic situations with item value, benefit, limit, generation, supply, demand, market development rate and number etc. The GPS Tracking Devices industry report additionally introduces new assignment SWOT examination, speculation attainability examination and risk return examination.

Adjustment:

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