GPS Tracking Devices Market Industry Insight and Forecast to 2030 | Segment by key firms – CalAmp, ORBCOMM, Sierra Wireless, ATrack Technology Inc and others
“GPS Tracking Devices Market | emergence research”
Increasing demand for IoT and cloud technology is a key factor driving revenue growth in GPS tracking devices market
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.
The GPS Tracking Devices Market study applies research methodologies, including survey and interview techniques, to calculate the product price, revenue, import and export status, and production capacity of the GPS Tracking Devices market manufacturers for the forecast period The market research report primarily focuses on the market size, share and growth rate of the industry during the estimated period with the aim of helping business owners to make a smart investment decision and draft profitable business strategies.
The continued spread of COVID-19 has emerged as one of the greatest risks to the global economy, causing significant anxiety and economic hardship for consumers, businesses and communities worldwide. The “new normal” that includes social distancing and working from home has created difficulties with daily activities, routine chores, requirements and supplies, resulting in delayed initiatives and missed opportunities. The global GPS tracking device manufacturing and industrial sector has been hit hard by the COVID-19 epidemic as the manufacturing facilities have shut down, leading to a huge surge in demand in the industry.
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The report is an exhaustive research study of the global GPS Tracking Devices Market including the latest trends, growth factors, developments, opportunities and the competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces Analysis. The report is based on primary and secondary research data, reviewed and validated by industry experts. The report provides an overview of the market leaders, segmentation by type, application and region, and advances in technology.
Some big companies operating in the market are:
CalAmp, ORBCOMM, Sierra Wireless, ATrack Technology Inc., Geotab Inc., Concox, Trackimo, Meitrack Group, RUPTELA and Geoforce, Inc.
The report also encompasses a comprehensive SWOT analysis and Porter’s Five Forces Analysis to provide a complete understanding of the competitive landscape and scenario of each market player. The report also includes an in-depth analysis of the applications and product types offered in the market.
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)
- Standalone tracker
- OBD device
- Advanced tracker
- Deployment Type Outlook (Revenue, $Bn; 2019-2030)
- commercial vehicles
- Freight & Containers
- End Use Outlook (Revenue, $Bn; 2019-2030)
- Aerospace & Defense
- Transportation & Logistics
Browse Report Description: https://www.emergenresearch.com/industry-report/gps-tracking-device-market
Main regions covered in the report:
- North America (USA, Canada)
- Europe (UK, Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
Some 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 connected 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.
- In addition to ground navigation at the airport, space-based positioning and navigation offers three-dimensional position determination for all flight phases such as take-off, flight and landing. GPS continues to fuel the growth of faster and more efficient flight routes.
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The global GPS Tracking Devices Market report evaluates the latest economic scenario in terms of value and volume. It highlights key growth drivers, restraints, production capacity, demand and supply ratio, import/export status, growth rate and other critical aspects. In addition, the report also performs SWOT analysis, Porter five forces analysis, speculation attainability investigation, and risk return investigation.
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Emergen Research is a market research and consulting firm offering syndicated research reports, custom research reports and consulting services. Our solutions are solely focused on your purpose of locating, targeting and analyzing changes in consumer behavior across demographics and industries and helping customers make smarter business decisions. We offer market intelligence studies that ensure relevant and fact-based research across multiple industries including Healthcare, Touch Points, Chemicals, Types and Energy. We are constantly updating our research offerings to ensure our clients are up to date with the latest trends in the market. Emergen Research has a strong base of experienced analysts from different disciplines. Our industry experience and ability to develop a concrete solution to any research problem provides our clients with an opportunity to gain an advantage over their respective competitors.
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