The Report Is Segmented Into Types
In line with a comprehensive research report by Market Research Future (MRFR), "Global GPS Tracking Device Market info by Type, Components, End-User and Region - forecast to 2027" the market has aimed to receive an 11.96% CAGR by the year 2019 to 2026 forecast period. The global GPS Tracking Device Market is witnessing fast traction, heading with the numerous advances in applied sciences. Besides, the rising integration of video telematics to discipline service administration and advanced analytics capable of transforming fleet management software program. Rising numbers of customers who use GPS trackers to trace varied a number of units with the assistance of superior and subtle software program on a single display screen drive the market development. With the rising uses of GPS car monitoring gadgets developed to track the quality of the highway and provided improved mapping amenities, the market is projected to garner substantial traction within the years to come back. Queclink Wireless Solutions Co., Ltd. Concox Information Technology Co., Ltd.
Increasing usages of mobile phones & GPS technology and iTagPro bluetooth tracker advances in analytical capabilities in communication technologies bolster the market progress. Additionally, the emergence of 3G/4G and 5G applied sciences gasoline the growth of the market, enhancing car connectivity. Simultaneously, the proliferation of autonomous and semi-autonomous automobiles and growth in cloud computing-based vehicle tracking techniques enhance the market dimension. Rapid economic development worldwide supplies ample alternatives for the enlargement of this market. Also, increased R&D expenditures and the growth of worldwide players affect market development. Vast advances and uptake of advanced automobile security applied sciences assist the GPS Tracking Devices market progress. Technological limitations inflicting failures in GPS and cellular-primarily based trackers due to glitches in cellular or wireless community protection are main factors projected to impede the market growth. Also, requirements for the excessive R&D investments for research and development activities challenge new market gamers majorly. Nevertheless, advances in wireless technologies would help the market development all through the assessment period.
The report is segmented into types, elements, end-customers, and regions. The kind phase is sub-segmented into standalone trackers, advance trackers, covert GPS trackers, ItagPro and others. The component segment is sub-segmented into actual-time GPS trackers, GPS loggers, private GPS trackers, and others. The end-users phase is sub-segmented into retail, hospitality, training, iTagPro bluetooth tracker government, protection, industrial, iTagPro bluetooth tracker automotive and aerospace, healthcare, transportation, and others. By regions, the market is sub-segmented into Europe, Asia Pacific, Americas, and relaxation-of-the-world. North America dominates the global GPS tracking device market. The region homes many superior iTagPro bluetooth tracker communication applied sciences and witnesses high uses of GPS vehicle tracking units. Besides, the rise in demand from the automotive sector and vehicle thefts increases the size of the GPS iTagPro bluetooth tracker marketplace for vehicles. The early adoption of cloud-primarily based deployment services and GPS trackers propels the development of the market. Additionally, rising sales of premium and luxury autos and uptake of GPS trackers. The robust presence of notable manufacturers and operating models with the availability of subtle applied sciences boost the regional market growth.
Furthermore, the proliferation of smartphones supplies enormous opportunities for enterprise progress. The rising use of navigation companies offers an impetus to the regional market's progress. The GPS tracking device market witnesses a number of strategic partnerships, alongside different strategic approaches similar to expansion, collaboration, mergers & acquisitions, and service & technology launches. Leading industry players make vast investments in research and improvement actions and fostering their enlargement plans. They make huge investments in new product growth and world expansion initiatives. The GPS Tracking Devices market is more likely to witness relentless innovations and new merchandise, finally intensifying competition amongst synchronous motor manufacturers. For example, on July 14, 2021, Amazon announced the event of an Alexa-powered wearable GPS tracking device for teenagers. The thought is to ship unique Amazon Kids Plus content material (earlier generally known as Amazon FreeTime Unlimited), permitting dad and mom to trace and iTagPro bluetooth tracker talk with children. In one other occasion, on May 19, 2021, Accel-KKR, a number one tech-targeted non-public fairness firm, introduced the acquisition of a fleet administration software leader - GPS Insight.
GPS Insight provides SaaS-based mostly fleet administration software program and complementary solutions for Class 3-6 fleets in the United States and Canada. Accel-KKR, underneath its management, has belongings worth over US$10 billion. Accel-KKR is merging GPS Insight with its two present portfolio firms - Insight Mobile Data and Rhino Fleet Tracking focused on fleet administration, subject services, and GPS monitoring. Despite the COVID-19 disruption, the GPS tracking device market garnered significant prominence, witnessing vital modifications in people's lifestyles. Pre pandemic, GPS expertise was already having a giant impression on the telecom business. Resultantly, the global GPS tracking device industry began garnering substantial traction, witnessing regularly growing investments. Market Research Future (MRFR) is a world market analysis company that takes pride in its services, offering an entire and accurate analysis relating to diverse markets and customers worldwide. Market Research Future has the distinguished objective of offering the optimal quality research and granular analysis to clients. Our market analysis research by products, providers, technologies, functions, finish customers, and market gamers for world, regional, and iTagPro product country degree market segments, allow our clients to see extra, know more, and do more, which help answer your most necessary questions.