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
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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 Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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