Global GPS Tracking Device Market By Type (Standalone Tracker, PBD Device, Advance Tracker) By Deployment type (Commercial Vehicle, Cargo and Container, Others), By Application (Transportation & Logistics, Construction, Oil & Gas, Metals & Mining, Government, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
Global GPS Tracking Device Market accounted to USD 1.5 billion in 2016 growing at a CAGR of 13.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
A GPS tracking unit is a device, normally carried by a moving vehicle or person, that uses the Global Positioning System to determine and track its precise location, and hence that of its carrier, at intervals. The latest trend in this market is growth in commercial vehicle leading to the growth of GPS system, they are in small in size, easy to carry, which may further develop the market in future. There is need of GPS tracking devices for several applications like Transportation & Logistics, Construction, Oil & Gas, Metals & Mining, Government; others will create a huge market for the GPS tracking devices.
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Major Market Competitors:
- Calamp Corporation,
- Sierra Wireless, Inc.,
- Orbocomm Inc.,
- Queclink Wireless Solutions Co., Ltd,
- Shenzhen Concox Information Technology Co., Ltd,
- Laird PLC.,
- Tomtom International Bv,
- Teltonika UAB,
- Atrack Technology Inc.,
- Trackimo LLC,Geotab Inc.,
- Shenzhen Coban Electronics Co., Ltd,
- Xirgo Technologies, Inc.,
- Maestro Wireless Solutions Ltd.,
- Ruptela UAB, Spy tech, Inc.,
- Verizon Wireless among others.
In 2017, Volkswagen sign a deal with Sierra wireless Inc. to use the GPS tracking devices in their cars.
GPS Tracking Device Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Major Market Drivers and Restraints:
- Commercial Vehicles increment leading to large supply of GPS system
- Smaller Size, Longer Life, and High ROI
- Low Prices
- Several Environmental Factors Leads to Poor User Experience
- Advancement in the Software
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Some Major Countries Covered in This Report:-
- South Korea,
- Saudi Arabia,
- South Africa,
- among others.
In 2017, North America is expected to dominate the market.
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