GPS Tracker Market 2018
Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt. Ltd.)
GPS Tracker Market 2018 GPS Tracker Market 2018: Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 The global GPS tracker market is projected to attain USD 2.72 billion in revenue while intensifying its growth with a 14.42 % CAGR in the forecast period from 2018-2023. The use of a GPS tracking system is majorly observed for security purpose in transport, patrols, fleet management, and asset tracking among others is increasing the growth of the global GPS tracker market. The chief benefits associated with the GPS tracking devices are high compatibility with smartphones, accuracy in tracking and navigation, and simplified operations. The other gains linked to the use of GPS tracker devices comprise of decreased labor cost, improved customer service, management of field personnel activity and removal of employee fraud. The features of GPS tracking devices such as geofencing, reporting, automated alerts, real-time updates, and historical fleet data feed. The escalating use of GPS tracking devices in transportation & logistics and government & defense among other industries is expected to motivate market expansion in the forecast period further.
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GPS Tracker Market 2018
“Taste the market data and market information presented through more than 50 market data tables and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “GPS Tracker Market Research Report - Global Forecast 2023”
The global GPS Tracker Market report includes an evaluation of the market dynamics, historical trends, ongoing industry trends, and forecast. It also comprises of a thorough market factor analysis that incorporates market factor analysis, supply chain analysis, and Porter’s Five Forces Analysis. A comprehensive analysis of the global GPS tracker market based on region as well as segmentation along with a country-level analysis of each segment is also offered in the report.
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GPS Tracker Market 2018 Segmentation: The segmentation of the global GPS tracker market is carried out on the basis of type, network, vertical and region. On the basis of type, the GPS tracker market is segmented into covert GPS tracker, standalone tracker, and advanced tracker. The advanced tracker segment is expected to achieve revenues totaling USD 981.74 million while expanding with a CAGR of 16.09% in the forecast period. On the basis of network, the market is segmented into LTE, 3G and 2G. The LTE segment is anticipated to achieve revenues touching USD 1,898.6 million while growing with a CAGR of 15.23% in the duration of the forecast period. Based on vertical, the global GPS tracker market is segmented into automotive & aerospace, healthcare, transportation & logistics, government & defense, oil & gas, metals & mining and others. The transportation segment of the market is expected to earn revenues totaling USD 846.98 million in the duration of the forecast period, while advancing with a 17.05% CAGR in the duration of the forecast period. The regions included in the global GPS tracker market are Asia Pacific, Europe, North America and the rest of the world.
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GPS Tracker Market 2018 Application & Major Players in this Research: GPS Tracker Market Prominent Players:
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Orbocomm Inc.,
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Laipac Technology, Inc.,
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TomTom International BV,
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Calamp Corp,
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Concox Information Technology Co., Ltd,
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Atrack Technology Inc.,
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Sony Mobile Communications Inc,
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Sierra Wireless Inc,
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GPS Tracker Market 2018 GPS Tracker Market Competitive Analysis Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: The regional analysis of the global GPS tracker market covers regions such as Asia Pacific, North America, Europe, and the rest of the world. The North American region generated revenue worth USD 343.17 billion in 2017 and is expected to grow at a CAGR of 12.75% in the forecast period. Mounting demand for efficient fleet management by many transportation and logistics service providers in the US is compelling the market development. High implementation of GPS tracking devices by law enforcement agencies in the country is also inducing the market growth in the US. Increasing demand for GPS trackers for construction assets and logistics is driving the growth of GPS tracker in Mexico. Furthermore, the growing adoption of GPS tracker in the mining industry also propels the market growth in Mexico. The European region is anticipated to develop at a 15.02% CAGR in the forecast period and had earned revenue worth USD 1,110 million by 2023. The rising demand for GPS trackers in commercial vehicles and automotive industry used for transportation and travel purposes is primarily motivating the GPS tracker market in Germany.
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