Global GPS Tracking Device Market: Overview
The global market for GPS tracking devices is gaining momentum due to the adoption of better technologies across several sectors. The impetus given to security systems and better management of resources will play a pivotal in enhancing market growth. GPS (Ground Positioning System) technology is widely used to determine the precise location of vehicles and other mobile entities. The information regarding the moving object can be transmitted to a central control unit or can also be stored within the tracking device. The system uses satellite, radio, or cellular modems fitted with the tracking device; devices enabled with GPS can be used to track the mobile objects. The device’s location uses geometric coordinates to position the object on a map. The GPS tracking system is divided into three parts viz. basic, intermediate, and advance design.
The market could be segmented based on the following parameters: type, industry, deployment vehicle, and region. Each of these categorizations are vital in ascertaining the progress of the market. It is important to analyze the sub-segments within these categories to get a wider purview of the market.
Transparency Market Research (TMR) elucidates key facts about the market in a report. The market dynamics have been decrypted to understand the pivotal forces that could augment growth in the future. The report employs pragmatic methodologies to gauge the progress of the market, and collects data through primary, secondary, and tertiary modes of research. The market growth has been quantified in the form of key parameters such as growth rate, market value, and regional market share. The report shall act as an important focal point for market players and analysts to gauge the future success of the market.
Global GPS Tracking Device Market: Key Trends and Opportunities
The prime reason that propels demand for GPS devices is the accuracy of these devices in ascertaining the position of mobile objects. Moreover, the installation of these devices does not incur very high costs, which further popularizes these devices. The relatively low cost also makes it easy for small- and medium-sized businesses to deploy these systems and improve their efficiency. Hence, the market has been expanding its consumer base over the years. The transport industry is a key consumer of these products; buses, trucks, freights, and cars owned by businesses are fitted with GPS tracking system. Another important factor bolstering demand is installation of these devices across public transport systems. The governments want to add utility to public services, thus, these systems are being rapidly adopted across government undertakings.
Global GPS Tracking Device Market: Regional Analysis
The global market for GPS tracking devices is geographically segmented into the Middle East and Africa, South America, Asia Pacific, North America, and Europe. The market in Asia Pacific is expected to exhibit a high growth rate on account of the rising popularity of automation in the regions. The affluence of regional market is expected to depend on the assistance from government initiatives and expansion of transport businesses.
Global GPS Tracking Device Market: Vendor Landscape
The market players operational in the global market are expected to innovate their solution portfolio to garner a greater market share. The leading players include Laird PLC,Calamp Corp, Teltonika UAB, Concox Wireless Solution Co., Ltd., TomTom International BV, Sierra Wireless Inc.,Geotab Inc. Meitrack Group, ATrack Technology Inc, Orbocomm Inc, Ltd, and Trackimo LLC.
Global GPS Tracking Device Market: Vendor Landscape: based on type
- OBD device
- Standalone tracker
- Advance tracker
Global GPS Tracking Device Market: Vendor Landscape: based on deployment vehicle
- Commercial Vehicle
Global GPS Tracking Device Market: Vendor Landscape: based on industry
- Metals & Mining
- Logistics and Construction
Global GPS Tracking Device Market: Vendor Landscape: based on region
- North America
- Asia Pacific
- Middle East & Africa
- South America
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.