The global GPS Tracking Device Marketwas valued at USD 1.19 billion in 2016 and is projected to reach USD 3.54 billion by 2025, growing at a CAGR of 12.87% from 2017 to 2025.
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 recorded location data can be stored within the tracking unit, or it may be transmitted to a central location database, or Internet-connected computer, using a cellular (GPRS or SMS), radio, or satellite modem embedded in the unit.
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1. Market Drivers
1.1 Increasing applications of Commercial Vehicles
1.2 Growing demand for Smaller Size, Longer Life, and High Roi
1.3 Growing consumer preference for Affordable Prices
2. Market Restraints
2.1 Impact of Nonstandard Products and Several Environmental Factors Leads to Poor User Experience
1. Global GPS Tracking Device Market, by Deployment Type:
1.1 Commercial Vehicle
1.2 Cargo and Container
2. Global GPS Tracking Device Market, by Type:
2.1 Standalone Tracker
2.2 PBD Device
2.3 Advance Tracker
3. Global GPS Tracking Device Market, by Industry:
3.1 Transportation & Logistics
3.3 Oil & Gas
3.4 Metals & Mining
4. Global GPS Tracking Device Market, by Communication Technologies:
5. Global GPS Tracking Device Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Calamp Corporation
2. Sierra Wireless, Inc.
3. Orbocomm Inc.
4. Queclink Wireless Solutions Co ., Ltd
5. Shenzhen Concox Information Technology Co., Ltd
6. Laird PLC.
7. Tomtom International Bv
8. Meitrack Group
9. Teltonika UAB
10. Atrack Technology Inc.
11. Trackimo LLC
12. Geotab Inc
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the GPS Tracking Device Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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