logo
logo
AI Products 

GPS Tracker Market Growth to Surge Owing to Increasing Adoption by End-use Applications by 2032

avatar
Randall Adorno
GPS Tracker Market Growth to Surge Owing to Increasing Adoption by End-use Applications by 2032

Market Overview

The global GPS Tracker Market Size is to grow from USD 2.8 Billion in 2023 to USD 6.5 Billion by 2030 during the review period. Further, the same market is anticipated to increase the market growth at a 12.8 % CAGR during the forecast period of 2023 to 2030. 

The GPS tracking system is widely used for fleet management, patrols, asset tracking, and transport security purposes. Hence, the increasing demand for GPS tracking systems is driving the GPS Tracker Market Growth during the forecast period. Moreover, these GPS tracking devices have many major benefits, such as tracking and navigation accuracy, high compatibility with smartphones, and simplified and easy operation. Additionally, this GPS tracker device has other benefits like the removal of employee fraud, better customer service, management of field personnel activity, and reduced labor costs. 

For Additional List and Detail Information on Key Players, Send Your Request for Sample Report Brochure @ https://www.marketresearchfuture.com/sample_request/7017

Furthermore, there are some important features of GPS tracking devices that include historic fleet data feed, automated alerts, geofencing, real-time updates, and reporting. For instance, the increasing demand for advanced GPS trackers in government & defense, transport & logistics, and other industries is expected to expand the global market during the review period. Moreover, the growing concerns over theft and personals are another major growth driving factor for the global market. However, the lack of global standards might hinder the market growth in the forecast period. 

Keyplayers

Some of the key market players are Sierra Wireless, Orbocomm, Atrack Technology, Geotab Inc., Box Telematics, Meitrack Group, Trackimo Group, Calamp Corp, Starcom System Ltd. and, Concox Wireless Solution

Market Segmentation

According to the GPS Tracker Market Forecast report, there are various market segments that are propelling the market revenue. These segments include Network, Type, and Vertical. The global market has been segmented into 2G, LTE, and 3G

 based on the network segment. 

The present market has been segregated into Standalone Tracker, Covert GPS Tracker, and Advanced Tracker in terms of type segment. For instance, the wearable type GPS tracker is projected to hold the largest GPS Tracker Market Share in the research period because of its advantages like children's safety, easy availability, cost-effectiveness, and multiutility. 

On the basis of the vertical segment, the worldwide market has been classified into Healthcare, Automotive & Aerospace, Government & Defense, Transportation & Logistics, Metals & Mining, Oil & Gas, and others.

Regional Analysis

The GPS Tracker Market Analysis highlights that geographical locations like Asia Pacific, Europe, North America, Latin America, and the rest of the world are the major hubs of the GPS tracker industry. 

Among all, the Asia Pacific regional market is anticipated to witness the highest CAGR during the forecast period of 2018 to 2023. This regional market is expanding due to the growth in vehicle production in developing markets of China and India; and the development of strict government regulations. According to the International Organization of Motor Vehicle Manufacturers (OICA), growth has been witnessed in commercial vehicles production in India. In 2016, the production was 4.51 million, and further, it has increased to 4.78 million by the end of the year 2017.

Browse Additional Details on “GPS Tracker Market" @ https://www.marketresearchfuture.com/reports/gps-tracker-market-7017

Industry News

Presently, the leading market player for GPS trackers market is ORBCOMM. This company provides Machine-to-Machine (M2M) communications solutions and Industrial Internet of Things (IoT) that are helpful to monitor, track, and manage mobile and fixed assets.

Related Reports:

End User Experience Monitoring Market

Mobile Unified Communication and Collaboration Market

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Us:                                                                                     

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: [email protected]

Website: https://www.marketresearchfuture.com

collect
0
avatar
Randall Adorno
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more