GPS Tracking Devices Market | emergence research
According to a recent analysis by Emergen Research, the global market size for GPS or GPS tracking devices will reach USD 2.15 billion in 2021 and is expected to register a CAGR of 12.3% in sales during the forecast period. Revenue growth in the GPS tracking market will be fueled by factors such as increasing demand for the Internet of Things (IoT) and cloud technology, increasing sales of commercial vehicles, increasing use of digital maps, and advancements and upgrades in software built into GPS -Tracking devices used, powered.
GPS technology has become an integral part of modern life and GPS tracking is at the core of any car surveillance system. The system consists of a network of satellites orbiting the earth and devices that can determine the position of an object or person. Today, GPS has a wide variety of applications ranging from global military exercises to vehicle navigation instructions.
IoT is a very innovative concept affecting all facets of life. It is possible to integrate GPS trackers, sensors and even everyday objects with electronics and network connectivity to make them smart. These embedded systems can connect to the cloud, be controlled remotely, and interact with each other. Despite the fact that GPS technology has been around for decades, the advent of the IoT has changed the way GPS-based apps and devices are used. The IoT allows GPS devices to transmit data remotely and connect to other systems and sensors.
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Modern tracking systems are capable of capturing and transmitting a variety of vehicle data, including fuel monitoring, remote temperature monitoring, and driver identification. Car rental companies can benefit greatly from GPS tracking devices by increasing service levels and reducing damage costs. When a GPS tracking device is installed in a rental vehicle, the renter has full control over the vehicle and can view all of their data at any time. It’s a useful tool for tracking company vehicles after they leave the office. The loss of or damage to a vehicle can affect a car rental company’s finances.
The Global GPS Tracking Device Market Research Report, added to its growing repository, is a comprehensive document that provides insightful data about the GPS Tracking Device Market and its key elements. The report is formulated through extensive primary and secondary research and is curated with the intent to provide the readers and businesses with a competitive edge over other industry players. The report throws light on the smallest details of the GPS Tracking Devices industry in terms of growth factors, opportunities and lucrative business prospects, regions with promising growth and forecast estimates up to 2030. The report assesses the historical data and the current scenario to offer accurate estimates of the market for GPS tracking devices in the years to come.
The global GPS tracking devices market is highly consolidated due to the presence of a large number of companies in this industry. The report thoroughly discusses the current market standing of these companies, their past performance, demand and supply charts, production and consumption patterns, distribution networks, distribution channels, and growth opportunities in the market. The report examines the strategic approach taken by key market players to expand their product offerings and strengthen their market position.
Major companies in the market include:
CalAmp, ORBCOMM, Sierra Wireless, ATrack Technology Inc., Geotab Inc., Concox, Trackimo, Meitrack Group, RUPTELA and Geoforce, Inc.
Key highlights from the report
A moderate share of sales was attributable to the commercial vehicle segment in 2021. Commercial GPS tracking is incredibly useful and is growing in popularity among businesses that use vehicles. One can improve business operations by using a commercial vehicle GPS tracker to always know the exact location of drivers. Installing a GPS tracker linked to mapping software improves routing, dispatching and safety while reducing fuel costs and increasing the number of tasks to be completed.
On-board diagnostics segment accounted for a significant revenue share in 2021. OBD Tracker is a GPS device that offers a range of features such as: B. reading engine trouble codes, engine RPM and vehicle speed. It’s easier to set up and use, and better suited for vehicle monitoring. The scope is expanded. Once the gadget is placed, this tracker will start monitoring the car on an ongoing basis.
Aerospace & Defense accounted for a significant share of sales in 2021. GPS is used by aviators worldwide to improve flight safety and efficiency. With its accurate, continuous and global capabilities, GPS provides continuous satellite navigation service to meet the needs of a wide range of aviation users.
The North American market accounted for a moderate share of sales in 2021. These devices are commonly used in countries like the US and Canada to monitor anti-poaching patrols and track the locations of all goods. The US Department of Defense launched 24 satellites into orbit as part of the Global Positioning System satellite-based navigation system.
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Emergen Research has segmented the global GPS tracking devices market based on technology type, deployment type, end use, and region:
Technology Type Outlook (Revenue, $Bn; 2019-2030)
Deployment Type Outlook (Revenue, $Bn; 2019-2030)
Freight & Containers
End Use Outlook (Revenue, $Bn; 2019-2030)
Aerospace & Defense
Transportation & Logistics
Regional Outlook (Revenue, $Bn; 2019-2030)
rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
United Arab Emirates
Rest of MEA
Key takeaways from the report:
Market shares by major business players, by type, application, and market scope of the global GPS Tracking Devices market
Revenue by major players and new entrants
Competitive analysis of key players, including aspects such as company overview, product or service specification, vendors and buyers
Recent mergers, acquisitions, product launches, recent investments and joint ventures
Regional analysis to provide insight into current trends and opportunities
The report reveals the progress and advancements made by the global GPS tracking devices market including the historical analysis and progress over the forecast years. The report provides valuable insights for stakeholders, investors, product managers, marketing executives and other industry professionals. The report provides an accurate estimate by applying SWOT analysis and Porter’s Five Forces Analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.
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