Dublin, April 20, 2020 (GLOBE NEWSWIRE) – The report “Global GPS Devices Market 2020-2030: COVID-19 Impact and Recovery” has been added ResearchAndMarkets.com Offer.
The global GPS device market was valued at $ 482 million in 2019. It is expected to grow at an average annual growth rate (CAGR) of 9.60% and reach $ 695.4 million by 2023. In 2019, North America was the largest region in the GPS device market.
This report covers market features, size and growth, segmentation, regional and country breakdown, competitive landscape, market shares, trends and strategies for this market. It traces the historical and forecast market growth of the market based on geographic features. It puts the market in the context of the broader GPS device market and compares it to other markets.
Major players in the Positioning Systems (GPS) market are 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. and Maestro Wireless Solutions.
The increased use of GPS tracking devices in commercial vehicles contributed to the growth of the GPS device market
GPS tracking devices help 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, companies can receive real-time updates, optimize routes, increase efficiency and improve fuel efficiency, among other things. Companies are increasingly using GPS to track vehicles and have an advantage over their competitors when it comes to delivering a better customer experience. Therefore, the use of GPS devices in commercial vehicles is a key factor in the growth of the GPS device market.
The software integrated in GPS trackers has developed rapidly
Using advanced software can provide real-time data in a specific location. The advanced software has helped improve the mapping capabilities and integration with resources such as Google Earth and predictive diagnostics. For example, in 2019 the National Kidney Registry and Newgate Security upgraded new GPS tracking devices to GPS technology to monitor human organ transport in real time. The development of an improved GPS tracker is gaining momentum and contributing to the growth of the market.
A security threat in GPS tracking applications is likely to hamper the growth of the market
Hackers can interfere with the signals from GPS devices and use the vehicle in unimaginable ways. The signals could be disturbed during transmission. The vulnerability of GPS allows a hacker to track the locations of thousands of vehicles and even turn off the engines while they are in motion, creating 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 weak points in GPS devices, which lead to complications in smooth processes, limit the growth of the market.
BAE Systems, Inc., a UK-based aerospace and security company, acquired Collins Aerospace’s military global positioning systems (GPS) business for $ 1.925 billion and Raytheon’s Airborne Tactical Radios (ATR) business for $ 275 Million USD in cash. The acquisitions of the GPS and ATR businesses are aimed at strengthening BAE Systems, Inc. in the defense electronics and communication systems business. Collins Aerospace, a US-based company specializing in the avionics and information technology systems business. Raytheon, a US-based company, specializes in the manufacture of military and commercial electronics.
2. Market characteristics for GPS devices
3. GPS Device Market Size and Growth
3.1. Global Historic GPS Device Market, 2015-2019, Billion US Dollars
3.1.1. Driver of the market
3.1.2. Restrictions in the market
3.2. Global GPS Device Forecasting Market, 2019-2023F, 2025F, 2030F, Billion US Dollars
3.2.1. Driver of the market
3.2.2. Restrictions in the market
4. Market segmentation for GPS devices
4.1. Global GPS Devices Market, Segmentation By Product Type, Historical And Forecast, 2015-2019, 2023F, 2025F, 2030F, Billion US Dollars
- Data logger
- Data slide
- Data extractor
- Covert GPS trackers
4.2. Global GPS Devices Market, Segmentation By End Use Industry, Historical And Forecast, 2015-2019, 2023F, 2025F, 2030F, Billion US Dollars
- Transport & logistics
- Metals & Mining
Others (Hospitality, Education, Retail, Agriculture, and Healthcare)
4.3. Global GPS Devices Market, Segmentation By Application, Historical and Forecast, 2015-2019, 2023F, 2025F, 2030F, Billion US Dollars
- Location based services
- Surveying and mapping
5. Regional and country-specific analysis of the market for GPS devices
5.1. Global GPS Devices Market Split by Regions, Historical and Forecast, 2015-2019, 2023F, 2025F, 2030F, Billion US Dollars
5.2. Global GPS Devices Market Split by Country, Historical and Forecast, 2015-2019, 2023F, 2025F, 2030F, Billion US Dollars
- 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.
- Maestro wireless 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
- Verizon Wireless
- Trackimo LLC
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