Allied Market Research published an exclusive report entitled “GPS tracking device market size, share, competition landscape and trend analysis report according to technology, type and application: global opportunities analysis and industry forecast, 2021-2028”.
The global market size for GPS tracking devices was rated 1.78 billion US dollars in 2020 and is expected to achieve 4.93 billion US dollars by 2028, with a CAGR of 12.3% from 2021 to 2028.
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The report on GPS tracking devices offers a detailed analysis of the main factors, which have an impact on market growth like important market participants, current market developments and decisive trends. The report contains a thorough examination of the most important determinants of the global market, including drivers, challenges, restrictions and upcoming opportunities.
The report on GPS tracking devices includes driving factors in connection with main obstacles and temporary factors that affect market growth. The report helps existing manufacturers and entry -level companies to develop strategies to combat challenges and use lucrative opportunities to gain a foothold on the global market.
Important market participants:
The report of the GPS tracking device size offers a detailed analysis of the 10 Prime market participants on the market. In addition, it offers their thorough financial analysis, business strategies, SWOT profiles, business overview and recently introduced products and services. In addition, the report offers current market developments such as market expansion, mergers and acquisitions as well as partnerships and cooperation. The main market players examined in the report are Sierra Wireless, OrboComm, Atrack Technology, Geotab Inc., Box Telematics, Meitrack Group, Trackimo Group, Calamp Corp, Starcom System Ltd. and Concox Wireless solution.
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Segmentation analysis:
The key factor that promotes the growth of the market for GPS tracking devices is to increase the demand for IoT and cloud technology and the sales of commercial vehicles. The key factors that affect the growth of this market are the effects of non -standard products and several environmental factors that lead to poor user experience. The chance is to record the use of digital map and the progress as well as the upgrading of software used in GPS tracking devices.
According to the technology, the market size for personal GPS trackers will continue to eat up in an independent tracker, OBD device and in advance tracker. Among everyone was the independent segment for Tracker devices the highest segment for the generation of sales, which made $ 662.8 million in 2020. However, the Segment Advance Tracker devices will record the fastest growth of a CAGR of 14.5% in the forecast period.
According to market trends for GPS tracking devices, the Aerospace and Defense segment is the fastest growing application segment to register a CAGR of 17.4%during the forecast period. However, transport is the highest contribution to sales that made $ 566.1 million in 2020.
In the region, the market is divided to North America, Europe, Asian-Pacific and Lamera. Europe was the highest segment with sales, which was worth $ 584.8 million in 2020 worth $ 584.8 million. This region is expected to reach a market value of $ 846.2 million by 2022, which grows on a CAGR of 11.0%by 2022. In addition, Europe is expected to maintain its dominant position in the forecast period. Lamea and Asian-Pacific are the second and third and third regions of the market share for GPS tracking devices.
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The report offers:
• Evaluation of the market share for regional and country level segments.
• Market analysis of the top industry players.
• Strategic recommendations for new participants.
• All segments and regional market forecasts mentioned for the next 10 years.
• Market trends (drivers, difficulties, opportunities, threats, challenges, investment options and recommendations)
• Strategic recommendations in the main business segment of the market forecast.
• Competition landscape design of the most important general trends.
• Company profiles with detailed strategy, financial and recent developments.
• Latest technological progress mapping of the supply chain trends.
The market study also promotes a sustainable market scenario based on important product offers. On the other hand, Porter's five-forces analysis underlines the effectiveness of buyers and suppliers so that stakeholders can make profit-oriented business decisions and strengthen their supplier buyer network. The report contains explicit breakdown for GPS tracking devices and illustrates how the opposition will take shape in the coming new years. The study will work on the market on the market and emphasizes the guidelines and approaches you integrated by you, which you keep in the industry.
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