In simple terms, a GPS fleet tracking software uses Global Positioning System (GPS), also known as Navstar, a global navigation satellite system (GNSS). This satellite system provides location and time information in all weather conditions anywhere on the planet. GPS fleet tracking software use this system to track any asset performing a remote task. Their main function is to gather crucial data on employees’ location, behaviour, and delivery. These software have become a highly crucial asset for businesses that, for example, provide remote services, such as employing professional drivers far and wide across the country. Businesses can use such software to assess the competency of the employees, issue status reports, instruct guidelines, monitor their behaviour as well as make sure of their wellbeing.
The global market for GPS fleet tracking software is growing at a steady pace due to the several positive effects that they have on business operations. However, there are many other factors that contribute to this growth. First, electronic logging devices and cloud-based fleet management solutions are increasingly preferred by businesses and thus are in demand. Second, real-time tracking has also become premium service for businesses in the face of stricter government regulations for trans-border shipments. As more and more businesses try to digitize their operations, they realise that a GPS fleet tracking software is the state-of-the-art technology that is the way forward. Third, these software are compatible with smartphones. The easy access to smartphones has also made them all the more appealing to businesses. The report published in LPI on the global GPS fleet tracking software market revealed the growth to be at a notable pace. The valuation of the GPS fleet tracking software market was further stated to surpass its previous valuation.
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The report has profiled various noteworthy players in the global GPS fleet tracking software market. This includes the analysis of various strategies adopted for expansion and an upper hand over their rivals.
Advanced Tracking Technologies
The global GPS fleet tracking software market has been segmented in terms of type and applications.
By application, the market includes into 6-24 Size Fleet, 1-5 Size Fleet, 50-99 Size Fleet, 25-49 Size Fleet. above 100 Fleet, and others.
By product type, the market segments into cloud-based and on-premise.
The global GPS fleet tracking software market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. In North America, the presence of major players coupled with the rising investments being made are driving the market growth. Additionally, the adoption of key technologies and the emergence of new technologies are all anticipated to boost the market growth in this region. Following this, the market in Asia Pacific is projected to garner strong growth over the forecast period due to increasing R&D activities and government encouragement.
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