GPS tracking devices are used to find real-time location-based accurate information of a vehicle, or other types of assets. GPS tracking devices detect the person or vehicle that uses the GPS to track its specific location. The location information is stored and transmitted to others, which are connected via the internet using cellular, radio, or satellite modem embedded in the unit. It comprises a GPS module to receive the GPS signal. Deployment of the GPS tracking device helps to monitor and track commercial vehicles such as buses, trucks, heavy commercial vehicles, and construction vehicles.
MARKET SCOPE
The "Global GPS Tracking Device Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the GPS tracking device market with detailed market segmentation by type, deployment type, industry, and geography. The report provides key statistics on the market status of the leading GPS tracking device market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global GPS tracking device market is segmented into standalone tracker, OBD device, and advance tracker.
- on the basis of deployment type, the market is segmented into commercial vehicle, cargo and container, and others.
- based on industry, the market is segmented into transportation and logistics, metals and mining, construction, government, education, and others.
MARKET DYNAMICS
Drivers:
- The growth of commercial vehicles is driving the global GPS tracking device market.
- Advancement in the software is anticipated to create opportunities for the GPS tracking device market during the forecast period.
Restraints:
- The impact of nonstandard products might hinder the growth of the global GPS tracking device market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The GPS tracking device market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the GPS tracking device market in these regions.
IMPACT OF COVID-19 ON GPS TRACKING DEVICE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the GPS tracking device market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from GPS tracking device market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the GPS tracking device market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- CalAmp
- Laird Connectivity
- Meitrack Group
- Orbocomm
- Queclink Wireless Solutions Co., Ltd
- Shenzhen Concox Information Technology Co., Ltd
- Sierra Wireless, Inc.
- Teltonika
- TomTom International BV
- Trackimo LLC