International GPS Monitoring Units Market – Trade Evaluation and Forecast (2020-2027) – By Kind, GPS Monitoring Gadget, Deployment Kind, Trade, and Area.

Global GPS Tracking Devices Market was valued at USD XX million. in 2019 and is expected to reach $ XX million. by 2027 with a CAGR of XX% in the forecast period.

Market overview:

The GPS tracking device is used to capture and track an object or entity using a global position system to determine and track its exact location and therefore that of its wearer at intervals. It provides information on latitude and longitude, as well as the course and speed of the target. The GPS tracking device provides real-time and accurate information to the end user. In the report study, the sales impact of the Covid-19 pandemic on the sales of market leaders, market followers and disruptors were analyzed in the report. This is also reflected in our analysis.

The availability of a GPS tracking device at a reasonable cost makes individuals more likely to use it. The location of the moving vehicle or person can be saved and transmitted to others connected via the Internet to a cellular (GPRS or SMS), radio or satellite modem embedded in the device. The GPS tracker contains a GPS module for receiving the GPS signal. The latest trend in this market is the growth of commercial vehicles which leads to the growth of GPS. They are small and easy to transport. GPS tracking devices are used in a variety of applications including transportation and logistics, construction, oil and gas, metals and mining, government, and many others. The increasing use in various applications is expected to drive the GPS Tracking Devices market and the same is explored in the report with a forecast of the value it will create in the market in tangible terms.

Market dynamics:

The increasing number of commercial vehicles and the accuracy of these devices in locating the position of mobile objects are the main drivers for the growth of the GPS tracking device market. In addition, the increasing use of GPS technology to monitor and track these vehicles provides better consumer service, is small in size, and has a longer lifespan. Additionally, the use of a GPS tracking device for security and surveillance applications in some segments is expected to fuel the growth of the global GPS tracking device market over the forecast period. The report has covered its analysis with key players by region to give readers a micro-level understanding of the market.

As the cost of these devices decreases over time, it is expected that their use will also be commercialized in non-commercial applications.

The transportation industry has been the main consumer of these products from the start. Transport fleets of buses, trucks, cargo and cars are equipped with a GPS tracking system. An alternative important factor driving demand is the installation of these devices in public transportation systems. Governments around the world want to bring more value to public services so that these devices can be used in all government companies. With the recent advances in technology, it is possible to develop miniature size GPS receivers and tiny batteries that make the GPS tracking device a long-lasting application. Built-in non-rechargeable batteries in the GPS tracker have an average lifespan of 3 to 4 years, which contributes to smooth operation. Companies or individuals who use GPS tracking devices have a high return on investment (ROI) with a reduced payback period. The advanced GPS tracker provides a lot of valuable information on vehicle engine diagnostics, temperature control and other topics. A further development of technology and software as well as the increasing use of GPS tracking devices for usage-based insurance, also known as “pay-as-you-drive” insurance, can lead to high revenues and are likely to offer numerous market opportunities in the future.

However, the appearance of obstacles and extreme weather conditions, including geomagnetic storms, which can affect the accuracy of GPS, are some of the challenges that the industry is working to provide solutions. The GPS location unit in commercial vehicles requires a direct line of sight between the receiver and the satellite. Therefore, if an object is within the direct path it can deviate from the GPS signal and result in a poor signal. Numerous environmental factors such as dense trees, steep slopes, tall buildings or even a heavy cloud cover can weaken the GPS signal and cause delayed results due to these geographic restrictions.

Despite the massive benefits associated with the introduction of GPS tracking devices, the impact of non-standard products and environmental factors due to the poor quality of GPS tracking devices with a poorly performing GPS receiver antenna and poor positioning algorithm results in a poor user experience and can be the most effective Impair the performance of GPS tracking devices.

Market segmentation:

Based on the type segments, the Advance Tracker segment is expected to hold the largest market share in terms of sales in the region

Future. Availability of a lucrative pre-tracker and increasing adoption in vehicles as it provides data on engine performance.

After the segments of the application type, the commercial vehicle segment is expected to have the largest market share of the world market in terms of sales in the future. Increasing adoption of GPS to track and monitor commercial vehicles such as buses, construction vehicles, trucks, etc. and to protect valuable goods that are loaded into these vehicles.

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In terms of region, Europe had the largest share of sales and is expected to continue its position in the forecast period. The presence of well-known automotive companies consisting of Box Telematics Ltd., Ruptela UAB, Teltonika UAB and Neomatica LLC, which offer GPS tracking devices in vehicles, is a key factor in the growth of the market in this region. The North American market is expected to make up the second largest share of sales in the future.

The Asia-Pacific market is expected to see the fastest revenue growth in the future as Asia-Pacific countries such as China, South Korea and Japan develop markets for GPS tracking devices. Thanks to aging infrastructure, manufacturing facilities, and asset security and protection, the Asia-Pacific region is expected to have a significant share of the GPS tracking market.

The latest development:

In July 2019, ATrack Technology Inc., a renowned manufacturer of GPS telematics products, introduced its new product AK7V. The AK7V is a vehicle tracking device that has advanced features and is economical, which seems to be perfect for the fleet management solution for customers worldwide.

In February 2019, GPS Trackit announced the acquisition of TSO Mobile, InTouch GPS and FleetTrax. With this acquisition, the company intends to expand its tracking solution portfolio. In addition, the company could triple its customer base and offer them better products to meet consumer needs.

The aim of the report is to provide a comprehensive analysis of the global GPS Tracking Devices market with the involvement of all industry stakeholders. The past and current status of the industry with forecast market sizes and trends is presented in simple language in the report with the analysis of complicated data. The report covers all aspects of the industry with a dedicated study of the key players that includes market leaders, followers and new entrants. The report presented PORTER, SVOR, and PESTEL analysis with the possible impact of microeconomic factors in the market. Both external and internal factors that are supposed to influence the business positively or negatively were analyzed in order to give decision-makers a clear futuristic view of the industry.

The report also helps in understanding Global GPS Tracking Devices Market dynamics, structuring by analyzing the market segments, and projecting the Global GPS Tracking Devices market size. A clear presentation of the competitive analysis of the major players by application, price, financial condition, product portfolio, growth strategies, and regional presence in the global GPS Tracking Devices Market is the investor’s guide.

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Size of the global GPS tracking device market

Global GPS Tracking Devices Market By Type

• Standalone tracker
• OBD device
• Advance Tracker
Global GPS Tracking Devices Market by GPS Tracking Devices

• Cellular
• satellite
Global GPS Tracking Devices Market By Deployment Type

• Commercial vehicle
• Freight & Container
• Other
Global GPS Tracking Devices Market By Industry

• Transport & logistics
• Construction
• petrol
• Metals & Mining
• government
• Others (hospitality, education, retail, agriculture and healthcare)
Global GPS Tracking Devices Market by Regions

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Major Players in the Global GPS Tracking Devices Market

• Laird PLC
• Calamp Corp.
• Teltonika UAB
• Concox Wireless Solutions Co., Ltd.
• TomTom International BV
• Sierra Wireless Inc.
• Geotab Inc.
• Meitrack group
• ATrack Technology Inc.
• Orbocomm Inc, Ltd.
• Trackimo LLC

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