GPS (Global Positioning System) Tracking System Market to Exhibit a Remarkable Growth of USD 5667.94 Million by 2030, Size, Share, Key Drivers, Demand, Future Growth and Opportunity Analysis
SAN FRANCISCO, Jan. 26, 2023 /PRNewswire/ -- "GPS (Global Positioning System) Tracking System Market" is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. The market analysis and insights included in the wide-ranging GPS (Global Positioning System) Tracking System market report present key statistics on the market status of global and regional manufacturers and is an essential source of guidance that provides the right direction to the companies and individuals interested in the industry. To prosper in this competitive marketplace, businesses are highly benefited if they adopt innovative solutions such as this market research report. This first-class report acts as a backbone for the success of business in any sector. The market drivers and restraints have been explained in the consistent GPS (Global Positioning System) Tracking System report with the use of SWOT analysis.
Data Bridge Market Research analyses that the GPS (global positioning system) tracking system market was valued at USD 2193.4 million in 2022 and is expected to reach the value of USD 5667.94 million by 2030, at a CAGR of 12.60% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Market Analysis: GPS (Global Positioning System) Tracking System
Global positioning system (GPS) tracking system technology is one of the most innovative inventions of our time. As it continues to advance, more fleets are using it to monitor their vehicles and get driving directions throughout the world. According to the GPS tracking system market analysis, the global market has more demands in transportations, IT and telecommunications to keep an eye on its real-time information about individuals, products and vehicles. The GPS tracker online is useful to increase the security and safety of consumers and businesses.
A global positioning (GPS) tracking system is a portable unit that lets users track and monitor its location. These devices are most generally used as car tracking systems in vehicles. Whereas tracking systems are similar to in-car navigation systems, there are only some differences. GPS navigation systems display drivers their location on digital map and then deliver instructions during driving to get to a selected point. On the other side, GPS trackers usage GPS technology to track a current location of vehicle's and trip history. The GPS data is then broadcasted to a smartphone, computer or tablet.
Competitive Landscape and Global GPS (Global Positioning System) Tracking System Market Share Analysis
The GPS (global positioning system) tracking system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to GPS (global positioning system) tracking system market.
Top Leading Key Players of GPS (Global Positioning System) Tracking System Market:
- Calamp
- Orbocomm
- Qualcomm Technologies, Inc
- Sierra Wireless
- Hexagon
- Queclink Wireless Solutions Co., Ltd.
- Shenzhen Concox Information Technology Co. Ltd.,
- Laird
- TomTom International BV
- Meitrack Group
- Teltonika
- TomTom International BV.
- ATrack Technology Inc.
- Verizon
- Trackimo
- Geotab Inc.
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Why buy this report?
- The report offers a comprehensive evaluation of the Global GPS (Global Positioning System) Tracking System Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
GPS (Global Positioning System) Tracking System Market Drivers
- Increased sales of commercial vehicles
The growth of the tracking system market is fuelled by the increased usage in commercial vehicle and device's durability. As the retail sector develops, a GPS tracking system can detect vehicles that use GPS to track their location. This upsurges the requirement of monitoring for efficient operation and safety. Accordingly, several commercial vehicles are equipped with global positioning system (GPS) tracking system. The growing sale of commercial vehicles, stimulating the growth of the market. The growing penetration of the e-commerce industry is also expected to upsurge the demand for these ing systems in light commercial vehicles.
- Growth and expansion of IoT and cloud based technology
The global positioning system (GPS) tracker system, developed with modern technology such as cloud and IoT based technology. These technology allows it to serve a variety of applications. GPS trackers are embedded with internet connectivity and electronics, transforming the information into intelligent devices and objects that can connect to the cloud. These systems can be remotely communicating and controlled with one another by using cloud and IoT based technology. Consequently, the increasing demand for cloud and IoT technology boosts the expansion of the market.
Opportunities
- Increasing focus towards safety and security
GPS tracking system are normally used in trains, taxis, buses and other public and private transportation modes. An increasing focus on the security and safety of vehicles and passengers create immense market expansion. The Ministry of Road Transport & Highways mandated in 2021 that all oxygen-transporting cars be equipped with a GPS tracking device for proper monitoring and protection, thereby preventing any diversion or delay in the process.
- Growing usage of digital map
Digital map is experiencing extreme growth owing to growing internet subscribers and smartphone and portable device internet usage. The growing use of digital maps creates beneficial opportunities for GPS tracking system market. Many autonomous vehicles have digital map systems for route planning and navigation. The recent advancements in digital maps, for instance 3D maps, and the ease of locating and understanding a location are the primary growth factor for the market.
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Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
GPS (Global Positioning System) Tracking System Market Segmentations:
Type
- Covert GPS Trackers
- Standalone Tracker
- Advance Tracker
Components
- GPS Loggers
- Personal GPS Trackers
- Real-Time GPS Trackers
Deployment Type
- Commercial Vehicle
- Cargo and Container
- Others
Industry
- Automotive and aerospace
- Healthcare
- Transportation
- Government and Defence
- Others
GPS (Global Positioning System) Tracking System Market Regional Analysis/Insights
The GPS (global positioning system) tracking system market report is analyzed and market size insights and trends are provided by country, rolling element, gear type, product, applications and design as referenced above.
The countries covered in the GPS (global positioning system) tracking system market report are report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
Europe dominates the GPS (global positioning system) tracking system market in revenue growth due to the increase in the need for GPS tracking system. Furthermore, the numerous conferences and the events regarding this system will further boost the growth market in the region.
Asia-Pacific is projected to be the fastest developing region during the forecast period of 2023-2030. This is mainly due to growing urbanization, particularly in Asia's developing nations. The increasing demand for tracking, navigation and security will likely to boost the growth e market.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global GPS (global positioning system) tracking system Market: Regulations
- Market Overview
- Global GPS (global positioning system) tracking system Market, By Component
- Global GPS (global positioning system) tracking system Market, By Deployment Type
- Global GPS (global positioning system) tracking system Market, By Industry
- Global GPS (global positioning system) tracking system Market, By Region
- Global GPS (global positioning system) tracking system Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
For More Insights, Get Full Table of Content @ https://www.databridgemarketresearch.com/toc/?dbmr=global-gps-tracking-device-market
Browse Related Reports:
GPS (Global Positioning System) Tracking System Market, By Type (Covert GPS Trackers, Standalone Tracker, Advance Tracker), Components (GPS Loggers, Personal GPS Trackers, Real-Time GPS Trackers), Deployment Type (Commercial Vehicle, Cargo and Container, Others), Industry (Automotive and aerospace, Healthcare, Transportation, Government and Defense, Others) https://www.databridgemarketresearch.com/reports/global-gps-tracking-device-market
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