DUBLIN, June 22, 2023 (GLOBE NEWSWIRE) — The “Europe GPS Tracking Devices Market Segmented by Technology, By Network, By Product Type, By Type, By End-User, By Region, Competition, Opportunity and Forecast. 2018–2028” report has been added ResearchAndMarkets.com Offer.
The Europe GPS tracking device market is expected to flourish during the forecast period 2024-2028 owing to increased sales of commercial vehicles, low cost, good return on investment and widespread use of technology.
In addition, increasing demand for better security systems and resource management is fueling the market growth. In addition, the increasing demand for IoT and cloud technology, the increasing use of digital maps and the rapid development and updating of the software used in GPS trackers are expected to bring numerous growth opportunities to the Europe GPS trackers market.
Global Positioning System (GPS) is a global navigation system that can locate specific locations. A GPS tracking device is linked to the Global Navigation Satellite System (GNSS) to collect information about position and orientation.
GPS trackers work by transmitting radio signals and establishing satellite links to locate a person or object using geographic positioning. A GPS tracking gadget downloads the information quickly and once installed, pings those satellites. The satellites use latitude and longitude to determine the exact location and estimated distance of a specific point.
Both privately and professionally, GPS tracking is used both individually and professionally. GPS allows anyone to track their vehicle or pet, and businesses can use GPS tracking to protect their assets.
Growing demand for cloud and IoT technologies
The GPS tracker offers a wide range of possible applications with its unique function, which was developed using state-of-the-art technologies such as IoT and cloud computing.
GPS trackers have built-in electronics and internet connectivity, making them smart objects and devices that can connect to the cloud, be controlled remotely, and interact with each other. Consequently, the growing interest in IoT and cloud technology is driving the expansion of the GPS tracking market.
Increasing sales of commercial vehicles
The market is growing due to the high durability of GPS devices and the increasing use of GPS tracking systems in commercial vehicles. Due to the expansion of the retail sector, GPS tracking devices identify vehicles that use GPS to determine their precise location. This increases the need for tracking to ensure worker safety and productivity.
Therefore, GPS technology is widely used in business vehicles, which makes the market for GPS tracking systems grow with the increase in commercial vehicle sales. In addition, the increasing penetration of the e-commerce sector is expected to increase the demand for GPS tracking systems in light commercial vehicles.
Increased use of digital maps
The digital card industry is experiencing disruptive growth due to the increasing number of internet customers and the increasing use of smartphones and other portable devices to access the internet. As a result, the market for GPS tracking devices is growing due to the proliferation of digital maps.
Digital map systems are typically integrated into self-driving cars for navigation and route planning. The main reasons behind the growth of the GPS tracking market include new digital map trends such as 3D maps and the ease of understanding and pinpointing a location.
Real-time tracking, time efficiency and precision are made possible by GPS devices, which increases their marketability. They are small, easy to use, and good for tracking objects or people.
The Prime AT 2G GPS tracker, used for various applications such as vehicle tracking or asset tracking, with the ability to track live for a few seconds when moving but turn off when the tracker stops, was developed by BlueTrack, a manufacturer of GPS tracking, devices introduced in 2022.
Market trends and developments
- Increase outdoor use
- Increase in technological development
- government initiatives
- Lower costs
- Increasing investments
market dynamics
driver
- Growing demand for cloud and IoT technologies
- An increase in sales of commercial vehicles
- Increased use of digital maps
challenges
- Bad user experience
- Reduced accuracy of the devices
competitive landscape
Company Profiles: Detailed analysis of the main companies in the European GPS tracking device market.
- VerizonWireless
- Concox Information Technology Co.Ltd.
- Calamp Corp.
- Orbocomm Inc.
- Sierra Wireless Inc.
- Atrack Technology Inc.
- TomTom International
- Spy Tech Inc.
- Queclink Wireless Solutions Co.Ltd.
- Laipac Technology Inc.
Report scope:
Europe GPS Tracking Devices Market, By Technology:
- Standalone trackers
- Convert trackers
- Advance tracker
Europe GPS Tracking Devices Market, by Network:
Europe GPS Tracking Devices Market, by Product Type:
Europe GPS Tracking Devices Market, by Type:
- data logger
- data slide
- data puller
Europe GPS Tracking Devices Market, by End User:
- automobile
- Aerospace & Defense
- health care
- Other
Europe GPS Tracking Devices Market by Country:
- Germany
- Great Britain
- Italy
- France
- Spain
- Netherlands
- Poland
- Russia
For more information about this report, visit https://www.researchandmarkets.com/r/dosz09
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