GPS Equipment Global Market Report 2022: Increased Use of GPS Tracking Devices in Commercial Vehicles Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–Added GPS Equipment Global Market Report 2022, By Product Type, End-Use, Industry, Application ResearchAndMarkets.com Offer.

The global GPS equipment market is expected to grow from US$2.20 billion in 2021 to US$2.38 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The growth is largely due to businesses resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, teleworking and the resulting commercial closures Activities had resulted in operational challenges. The market is expected to reach $3.18 billion in 2026 at a CAGR of 7.5%.

The increased use of GPS tracking devices in commercial vehicles contributed to the growth of the GPS device market. GPS locators help to monitor commercial vehicles such as trucks, buses, heavy-duty vehicles, and construction vehicles. By monitoring and managing these vehicles in real-time with GPS trackers, businesses can get real-time updates, optimize routes, increase efficiency, and improve fuel efficiency, among other things. Businesses are increasingly using GPS to track vehicles and have an advantage over their competitors by providing a better customer experience. Therefore, the use of GPS devices in commercial vehicles is a key factor that leads to the growth of the GPS devices market.

Security threats in GPS tracking applications are expected to hamper the growth of the market. Hackers can jam GPS signals and exploit the vehicle in unimaginable ways. The signals could be disturbed during transmission. GPS’s vulnerability allows a hacker to track the locations of thousands of vehicles and even turn off the engines while driving, causing complications.

For example, in 2019, a hacker named L&M reportedly hacked into thousands of accounts owned by users of the iTrack and ProTrack GPS tracker devices. The hacker claimed he could track vehicles in many countries including South Africa, Morocco, India and the Philippines. The vulnerabilities in GPS devices that cause complications in its smooth operation restrict the growth of the market.

The software built into GPS trackers has evolved rapidly. Using advanced software can provide real-time data on a specific location. The advanced software has helped improve mapping capabilities and the ability to integrate with resources such as Google Earth and predictive diagnostics. For example, in 2019, the National Kidney Registry and Newgate Security upgraded to new GPS technology-based GPS tracking devices for real-time monitoring of human organ shipments. The development of improved GPS tracker is gaining traction and contributing to the growth of the market.

scope

Covered Markets:

1) By product type: data loggers; data slide; data extractor; Hidden GPS trackers

2) By end-user industry: transport and logistics; Construction; petroleum spirit; Metals & Mining; Government; Other (Hospitality, Education, Retail, Agriculture and Healthcare) 3) By Application: Street; Aviation; Marine; location-based services; surveying and mapping; Other

Main topics covered:

1. Summary

2. Characteristics of the GPS Devices Market

3. GPS Equipment Market Size and Growth

4. GPS Devices Market Segmentation

5. Regional and country analysis of GPS Equipment Market

6. Asia Pacific GPS Devices Market

7. China GPS Devices Market

8. Indian market for GPS devices

9. Japan GPS Equipment Market

10. Australian market for GPS devices

11. Indonesia market for GPS devices

12. South Korea GPS Equipment Market

13. GPS Devices Market in Western Europe

14. UK GPS equipment market

15. Germany market for GPS devices

16. Market for GPS devices in France

17. Eastern Europe GPS Equipment Market

18. Russia market for GPS equipment

19. North America GPS Equipment Market

20. US GPS Devices Market

21. South America GPS Equipment Market

22. Brazil GPS Equipment Market

23. Middle East GPS Devices Market

24. GPS Devices Market in Africa

25. Competitive Landscape and Company Profiles in the GPS Equipment Market

26. Major Mergers and Acquisitions in GPS Equipment Market

27. GPS Devices Market Trends and Strategies

28. Future Outlook and Potential Analysis of GPS Equipment Market

29. Appendix

companies mentioned

• Calamp Corporation

• Sierra Wireless, Inc.

• Orbocomm Inc.

• Queclink Wireless Solutions Co., Ltd.

• Laird PLC.

• Tomtom International Bv

• Concox wireless solution

• Xirgo Technologies, Inc.

• Shenzhen Concox Information Technology Co.Ltd.

• Wireless Maestro solutions

• Geotab Inc.

• Teltonika UAB

• Trimble Navigation Limited

• MiTAC Digital Technology Corporation (Navman)

• Spy Tech, Inc.

• Texas Instruments Inc.

• Garmin Ltd.

• Mio Technology Corporation

• Shenzhen Coban Electronics Co.,Ltd.

• Ruptela UAB

• Meitrack Group

• VerizonWireless

• Trackimo LLC

For more information about this report, visit https://www.researchandmarkets.com/r/2lj8dv