GPS Tracker Market Share 2021 Research Strategies, Growth Dynamics, Opportunities and Challenges Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for GPS Tracker Marketfor 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 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 Analsysis 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Tracker Marketproducts.

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Kenneth Research, in its repository of market research reports, have recently added a report on GPS Tracker Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The GPS Tracker Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. 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. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.

The report covers the forecast and analysis of the GPS Tracker Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of GPS Tracker Market over the period 2019-2026.

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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.

The major factors that are expected to be driving the GPS tracking device market are increasing commercial vehicle sales, various government mandates such as electronic logging device (ELD), affordable price, high ROI, and vehicle theft protection. The objective of the report is to define, describe, and forecast the GPS tracking device market size based on type (standalone tracker, OBD device, and advance tracker), deployment type (commercial vehicles, cargo & container, others), industry, and region.

The adoption of advanced GPS trackers is increasing significantly in commercial vehicles, cargo containers, and fleet management due to new features. The adoption of advanced trackers in fleet management systems helps managers keep a closer look at fleet movement and performance. This allows them to achieve high operational efficiency and return on investment (ROI). Moreover, all the information collected through advanced GPS trackers is uploaded to a software interface, which allows fleet managers to monitor the movement, fuel consumption, and appropriate routing of vehicles. These platforms can use this information to monitor fleet movement to optimize the supply chain operation, connect with the workforce, improve overall productivity, and minimize unscheduled downtime. Therefore, several vendors are seen focusing on developing and introducing advanced GPS trackers in the market, which will drive the growth of the global GPS tracker market during the forecast period.
GPS tracking is still in introductory stages of its application in the aviation industry. The delay in delivery of correct piece of information is a major drawback of this application, which is particularly critical in regions like Eastern Europe, where pilots have to operate in regions with unstable connection. This is motivating the several companies to launch high standard GPS trackers that could be helpful in aviation industry. In February 2017, UTair-Helicopter services, a Russian helicopter operator, launched GPS tracking over its entire fleet. These trackers monitor aircraft movements and thus work towards improving the aircraft safety.The rising imports and exports between countries bolsters the market growth for GPS trackers. The amount of cargos transported between countries is witnessing a fast growth which create an inevitable need for fleet management solutions to ensure the safe delivery of goods. These needs create an opportunity for a strong growth potential in the global GPS trackers market. According to World Bank, the exports and imports of goods from Brazil and Mexico increased significantly from 2010 to 2016.

by Manufacturers:
*Calamp
*Sierra
*Tomtom
*Xirgo
*Queclink
*Spy Tec
*ATrack
*Maestro

By Sensor Type
*Pressure Sensor

by Industry:
*Transportation & Logistics
*Construction
*Oil & Gas
*Metals & Mining
*Government

by Type:
*Standalone Tracker
*OBD Device
*Advance Tracker

by Deployment Type:
*Commercial Vehicle
*Cargo & Container
*Others

By Regional Ananlysis
North America
*U.S.
*Canada

Europe
*Germany
*UK
*France
*Italy
*Spain
*Belgium
*Russia
*Netherlands
*Rest of Europe

Asia-Pacific
*China
*India
*Japan
*Korea
*Singapore
*Malaysia
*Indonesia
*Thailand
*Philippines
*Rest of Asia-Pacific

Latin America
*Brazil
*Mexico
*Argentina
*Rest of LATAM

Middle East & Africa
*UAE
*Saudi Arabia
*South Africa
*Rest of MEA

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,

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Competitive Analysis:
The GPS Tracker Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.

About Kenneth Research:
Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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