The global GPS or global positioning system tracking device market size reached USD 2.15 Billion in 2021 and is expected to register a revenue CAGR of 12.3% during the forecast period, according to a latest analysis by Emergen Research. GPS tracking market revenue growth is driven by factors such as increasing demand for the Internet of Things (IoT) and cloud technology, increasing commercial vehicle sales, growing usage of digital maps, and advancements and upgrades of software used in GPS tracking devices. GPS technology has become an integral component of modern life, and GPS tracking is the core of every car monitoring system. The system consists of a network of satellites circling the Earth and gadgets that can determine the position of an object or a person. Today, GPS has a variety of applications, ranging from global military exercises to navigational directions for vehicles.
The report also sheds light on the recent technological developments and product advancements in the GPS Tracking Device market. The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
CalAmp, ORBCOMM, Sierra Wireless, ATrack Technology Inc., Geotab Inc., Concox, Trackimo, Meitrack Group, RUPTELA, and Geoforce, Inc
Research Report on the GPS Tracking Device Market Addresses the Following Key Questions:
- Who are the dominant players of the GPS Tracking Device market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the GPS Tracking Device market?
- What are the key growth drivers and restraining factors of the GPS Tracking Device market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the GPS Tracking Device market and its key segments?
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Emergen Research has segmented the global GPS Tracking Device market on the basis of type, type of care, and region
Segments Covered in this report are:
Technology Type Outlook (Revenue, USD Billion; 2019-2030)
- Standalone Tracker
- OBD Device
- Advance Tracker
Deployment Type Outlook (Revenue, USD Billion; 2019-2030)
- Commercial Vehicles
- Cargo & Containers
- Others
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Automotive
- Aerospace & Defense
- Healthcare
- Transportation & Logistics
- Others
In conclusion, the GPS Tracking Device Market report is an exhaustive database that will help readers formulate lucrative strategies. The GPS Tracking Device Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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