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The present GPS tracking device market forecast is quantitatively analyzed from 2020 to 2028 to benchmark the financial competency
The global GPS tracking device market is expected to witness considerable growth, owing to rise in adoption of automation and wireless connectivity in the industry.” - Allied Market ResearchWILMINGTON, NEW CASTLE, DE, UNITED STATES, December 11, 2024 /EINPresswire / -- Allied Market Research published an exclusive report, titled, "GPS Tracking Device Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology, Type and Application : Global Opportunity Analysis and Industry Forecast, 2021-2028".
The Global GPS Tracking Device Market size was valued at $1.78 billion in 2020, and is projected to reach $4.93 billion by 2028, registering a CAGR of 12.3% from 2021 to 2028.
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The GPS tracking device report offers a detailed analysis of prime factors that impact the market growth such as key market players, current market developments, and pivotal trends. The report includes an in-depth study of key determinants of the global market including drivers, challenges, restraints, and upcoming opportunities.
The GPS tracking device report encompasses driving factors of the market coupled with prime obstacles and restraining factors that hamper the market growth. The report helps existing manufacturers and entry-level companies devise strategies to battle challenges and leverage lucrative opportunities to gain a foothold in the global market.
Key Market Players:
The GPS tracking device size report offers an in-depth analysis of the 10 prime market players that are active in the market. Moreover, it provides their thorough financial analysis, business strategies, SWOT profile, business overview, and recently launched products & services. In addition, the report offers recent market developments such as market expansion, mergers & acquisitions, and partnerships & collaborations. The prime market players studied in the report are Sierra Wireless, Orbocomm, Atrack Technology, Geotab Inc., Box Telematics, Meitrack Group, Trackimo Group, Calamp Corp, Starcom System Ltd., and Concox Wireless Solution.
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Segmentation Analysis:
The GPS tracking device is segmented into technology, type, application, and region. The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.
The GPS tracking device is analyzed across the globe and highlight several factors that affect the performance of the market across the various region including North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
The GPS tracking device report provides thorough information about prime end-users and annual forecast during the period from 2022 to 2030. Moreover, it offers revenue forecast for every year coupled with sales growth of the market. The forecasts are provided by skilled analysts in the market and after an in-depth analysis of the geography of the market. These forecasts are essential for gaining insight into the future prospects of the industrial cooking fire protection system industry.
The key factor that drives the growth of the GPS tracking device market growth includes increase in demand for IoT and cloud technology and surge in commercial vehicle sales. The key factors that hamper the growth of this market are impact of nonstandard products and several environmental factors leading to poor user experience. The opportunity lies in the surge in usage of digital map and advancements and upgradation of software used in GPS tracking devices.
By technology, the personal GPS tracker market size is further fragmented into standalone tracker, OBD device, and advance tracker. Among all, the standalone tracker device segment was the highest revenue generating segment that accounted for $662.8 million in 2020. However, the advance tracker device segment is expected to witness the fastest growth at a CAGR of 14.5% during the forecast period.
Key Findings of the Study:
The transportation segment is projected to be the major application during the forecast period.
Asia-Pacific and Europe dominate the GPS tracking device market, presently, and Europe is anticipated to witness highest growth rate during the forecast period.
U.S. was the major shareholder in the North America GPS tracking device market analysis.
The Report will help the Readers:
- Figure out the market dynamics altogether.
- Inspect and scrutinize the competitive scenario and the future GPS tracking device landscape with the help of different strictures including Porter's five forces.
- Understand the impact of different government regulations throughout the global health crisis and evaluate the GPS tracking device condition in the tough time.
- Consider the portfolios of the protruding players functional in the market in consort with the thorough study of their products/services.
- Have a compact idea of the highest revenue generating segment.
The research operandi of the global GPS tracking device includes significant primary as well as secondary research. When the primary methodology encompasses widespread discussion with a plethora of valued participants, the secondary research involves a substantial amount of product/service descriptions. Furthermore, several government sites, industry bulletins, and press releases have also been properly examined to bring forth high-value industry insights.
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COVID-19 Impact Analysis:
The COVID-19 pandemic hit almost all sectors across the globe. The government restrictions and guidelines issued by World Health Organization (WHO) have temporarily suspended the manufacturing facilities. In addition, the prolonged lockdown across several countries led to disruption of the supply chain and increased raw material prices. Such factors affected the global GPS tracking device growth . The report offers an in-depth analysis of the impact of the COVID-19 outbreak on the market.
The Report Offers:
. Evaluation of market share for regional and country-level segments.
. Market analysis of top industry players.
. Strategic recommendations for new entrants.
. All mentioned segments, and regional market forecasts for the next 10 years.
. Market Trends (Drivers, Difficulties, Opportunities, Threats, Challenges, Investment Opportunities and Recommendations)
. Strategic recommendations in the main business segment of the market forecast.
. Competitive landscaping of major general trends.
. Company profiling with detailed strategy, financial and recent developments.
. Latest technological progress mapping supply chain trends.
The market study further promotes a sustainable market scenario on the basis of key product offerings. On the other hand, Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. The report provides an explicit global GPS tracking device breakdown and exemplifies how the opposition will take shape in the new few years to come. Rendering the top ten industry players functional in the market, the study emphasizes on the policies & approaches integrated by them to retain their foothold in the industry.
About us :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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