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 most recent study offers an extensive analysis of the GPS Tracking Device market broad competitive landscape, focusing on the major competitors and their company profiles. The research has addressed a wide range of strategic actions done by these organisations, including new business deals, mergers and acquisitions, collaborations, joint ventures, technical advancement, and recent product introductions. The competitive environment of the market is examined in the research in several ways, including the regulatory standards and policies put in place recently across the sector.
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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
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Aerospace & Defense
- Transportation & Logistics
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.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global GPS Tracking Device market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for GPS Tracking Device with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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