GPS TRACKING DEVICE market report is generated with the combination of best industry insight, practical solutions, talent solutions and latest technology. It gives explanation about a methodical investigation of existing scenario of the global market, which takes into account several market dynamics. With the market data of this GPS TRACKING DEVICE report, emerging trends along with major drivers, challenges and opportunities in the market for ABC industry can be identified and analysed. Excellent practice models and method of research utilized while generating this GPS TRACKING DEVICE report reveals the best opportunities to thrive in the market. While generating this GPS TRACKING DEVICE market report, markets on the local, regional as well as global level are explored.
Market Analysis:
Global GPS tracking device market is to register a healthy CAGR of 12.10% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. The rise in the market value can be attributed to the use of GPS in the business vehicle lower price and smaller size of the GPS system.
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Major Market Players
Few of the major competitors currently working in global GPS tracking device market are CalAmp, Sierra Wireless, ORBCOMM, Queclink Wireless Solutions Co ., Ltd., Concox Information Technology Co., Ltd. , Laird, TomTom International BV. , Meiligao GroupTELTONIKA, ATrack Technology Inc., Geotab Inc. , Spy Tec International, Rekvizitai.lt Lithuania, Lantronix, Inc, Xirgo Technologies., GPS Insight, ClearPathGPS, Inc, Azuga, Agile Fleet, US Fleet Tracking , ARIHANT ELECTRICALS, Shenzhen Eelink Communication Technology Co., Ltd., GPS SYSTEMS INDIA, AssetTrackr Pvt Ltd among others.
Global GPS Tracking Device Market By Type (Standalone Tracker, OBD Device, Advance Tracker), Deployment Type (Commercial Vehicle, Cargo and Container, Others), GPS Tracking Device (Satellite, Cellular), Industry (Transportation & Logistics, Construction, Oil & Gas, Metals & Mining, Government, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Competitive Analysis
Global GPS tracking device market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of GPS tracking device market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Developments in the Market
- In July 2019, ATrack Technology Inc., which is a renowned manufacturer of GPS telematics products, introduced its new product namely AK7V. The AK7V is a vehicle tracking device that is comprises of advance features and is economical which appears to become impeccable for fleet management solution for the customers globally
- In February 2019, GPS Trackit announced its acquisition of TSO Mobile, InTouch GPS, and FleetTrax. With this acquisition, the company aims in expanding its tracking solution portfolio. Additionally, the company would be able to triple its consumer base serving them with better products so as to meet their consumer’s need
Market Definition:
GPS tracking is basically an observation of the situation by the use of the Global Positioning System (GPS) to trace the position of an object distantly. The technology can locate latitude, line of longitude, course direction and ground speed of the target. The GPS may be a bunch of twenty-four aligned satellites that orbit the earth and create it a possibility for particular ground receivers to locate their geographic location. The location precision is in between 10 to 100 meter for the many types of equipment. The accuracy is often located inside one meter with distinctive defense-approved equipment.
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
Market Drivers:
- Business vehicles increment capital to large supply of GPS system is a driving factor for the market growth
- Small size, longer life and dominating ROI of GPS devices is enhancing the market growth
- Lower prices of GPS devices is flourishing the market growth
- Upgrading in the software is driving the market growth
Market Restraints:
- Many environmental aspects leads to poor user experience acting as a restraint for the market growth
- Impact of the non-standard products is hindering the market growth
Segmentation: Global GPS Tracking Device Market
By Type
- Standalone Tracker
- OBD Device
- Advance Tracker
By Deployment Type
- Commercial Vehicle
- Cargo and Container
- Others
By GPS Tracking Device
- Cellular
- Satellite
By Industry
- Transportation & Logistics
- Construction
- Oil & Gas
- Metals & Mining
- Government
- Others
- Education
- Retail
- Hospitality
- Agriculture
- Healthcare
By Geography
- North America
- South America
- Europe
- Asia-Pacific
- Middle East and Africa
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