In a recent published report, Kenneth Research has updated the Market report for GPS Tracking and Navigation Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian GPS Tracking and Navigation Market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the Market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for GPS Tracking and Navigation MarketProducts.
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The general notion of tracking subjects has resulted in the advent of Global Positioning System (GPS) as a major breakthrough that the world had witnessed. Though the technology has been adopted a lot earlier in the developed countries, India is fast catching up the trend. GPS has surfaced as a ubiquitous concept that looks at bringing the entire world into close proximity by connecting far-off subjects.
The report begins with the introduction of concept of GPS along with a brief description of the types of tracking. It then goes on to describe the basic framework of the functioning of GPS through its work model. The different components that get synergized to form the GPS ecosystem are described in the following section. It is followed by market overview which can be segregated into the global and the Indian scenario respectively. The global market overview is elaborated with a general introduction as well as a market size by shipment and values. The global market is slated to increase at the rate of 25-30% and a prediction is stated till 2016. An overview of the Indian GPS market comes next wherein along with the understanding of the sector, the market size as well as a market structure is also presented. This is immediately followed by the differentiation of the GPS market into two primary heads. The focus then shifts towards the Geographic Information System (GIS) wherein a take on the concept of GIS along with the Indian market overview is rendered. The GIS market overview comes with the market size figures and the segments where it operates. The following sections speak about the product categories and the benefits associated with GPS in the country. The report then progresses towards implementation of GPS as a mobile phone technology and also deliberates on the modified version of technology that aims at ameliorating the usage for consumers. The discussion then moves towards GPS being implemented in Small and Medium Businesses (SMBs).
Brief descriptions of the drivers that help the sector to prosper include growth in logistics vertical, growth in radio cabs, increasing penetration of high end phones, demand from the BPO sector, increasing sale of luxury cars and entry of mapping portals. As logistics call forth goods being in transit, players often tend to be in the face of certain nuances in the likes of pilferage, fuel tampering, issues in fleet management and others. GPS entails tracking of the vehicle as well as fuel consumption that ultimately goes on to solve all the intricate issues in logistics management. As logistics players become cautious in their operations and herald the usage of GPS, growth in the same translates into growth for the GPS sector. Another high usage of GPS is in radio cabs. With safety and security concerns looming large over the country, radio cabs’ operators are installing GPS in their cabs both for their easy functioning as well as for commuters’ safety. Another significant driver in this regard is the usage of GPS available as an added feature in mobile phones which again poses as potent enough to drive growth for the sector. In lines with radio cabs, BPO sector has also introduced cars with GPS installed in them as concern over safety and security especially women and inadvertently as the sector grows, GPS is sure to derive growth from the same.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Another stimulant for this sector is the entry of mapping portals that provide navigation aids required for tracking as well. While these factors can be termed as growth drivers there are certain factors that act as impediments to the sector including customer retention, fragmented logistics sector, lack of awareness and consumer perception and operational issues.
The next section speaks about the Government participation in the sector which caters to providing brief deliberations on the Wireless Planning and Coordination Wing and related licenses.
The major trends identified in the sector include GPS providers cement bond with automobile manufacturers, GPS providers look at partnering with stores, mobile phone players rendering free services, emergence of new applications in the sector, GPS introduced for bikes, entertainment options offered with GPS devices, India to have its own GPS and GPS installed in public transport systems. The section ends with a Porter’s Five Forces analysis of the sector.
The competition section offers a competitive landscape of the players by providing their financials and key financial ratios. It also provides basic information regarding the organizations. Key financial parameters constitute the financial performances of the players which are followed by business highlights.
The report concludes with a section on strategic recommendations which comprises an analysis of the growth strategies of the event management market in India.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
The GPS Tracking and Navigation Market report answers the following questions:
What is the aim of the report?
- The GPS Tracking and Navigation Market report presents the estimated GPS Tracking and Navigation Market size of GPS Tracking and Navigation Market by the end of forecast period. Additionally, the historical and current GPS Tracking and Navigation Market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the GPS Tracking and Navigation Market based on geographical scope, GPS Tracking and Navigation Market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the GPS Tracking and Navigation Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of GPS Tracking and Navigation Market are incorporated in the research report.
- The report analyzes growth rate, GPS Tracking and Navigation Market size and valuation of the GPS Tracking and Navigation Market during the forecast period.
What aspects regarding the regional analysis GPS Tracking and Navigation Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future GPS Tracking and Navigation Market trends, providing information on product usage and consumption.
- The growth rate of the GPS Tracking and Navigation Market in every region, including their countries over the forecast period is included in the GPS Tracking and Navigation Market report.
How is GPS Tracking and Navigation Market segmentation explained in the report?
- The Medical Radiation Detection and Monitoring GPS Tracking and Navigation Market is segmented by – (End User Product Type)
- The report studies various factors responsible for growth of GPS Tracking and Navigation Market in each segment accompanied by analysis of the largest GPS Tracking and Navigation Market share holding segment.
- Additionally, the several segments catering to the growth of Robotic Process Automation (RPA) GPS Tracking and Navigation Market are discussed at length in this business intelligence report accompanied by sub-segments and individual GPS Tracking and Navigation Market values for each section.
Based on what factors are the key GPS Tracking and Navigation Market players assessed in this report?
- The report offers detailed analysis of leading companies in the GPS Tracking and Navigation Market across the globe.
- It provides details of the major vendors involved in the GPS Tracking and Navigation Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about GPS Tracking and Navigation Market competitors along with standpoints of leading GPS Tracking and Navigation Market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the Medical Radiation Detection and Monitoring GPS Tracking and Navigation Market report.
How does the report examine the growth drivers and restraints of GPS Tracking and Navigation Market?
- The factors resulting in the expansion of the GPS Tracking and Navigation Market are elaborated in the report after thorough primary and secondary research.
- Analytical strategies focused on gain indicators affecting the growth of the Robotic Process Automation (RPA) GPS Tracking and Navigation Market are presented in graphical formats.
- The business-related trends driving the product consumption are discussed in detail in the report along with industry expertise to minimize the barriers to GPS Tracking and Navigation Market growth.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the GPS Tracking and Navigation Market growth and GPS Tracking and Navigation Market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects GPS Tracking and Navigation Market in various geographical regions.
- The competitive landscape analysis on the GPS Tracking and Navigation Market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the GPS Tracking and Navigation Market, underlining the growth rate and opportunities offered in the business.
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