Kenneth Research released a report on GPS Tracker Market that consists detailed analysis and industry insights for the forecast period, i.e. 2020-2026. On the basis of analysis of the market value and calculation of the CAGR during the forecast period, the latest trends and business opportunities in the market are discussed in the report. Backed by the growing advancements in the ICT industry, especially in the field of internet of technology (IoT) and artificial intelligence (AI), along with the advancements that support the basic backbone of the overall ICT industry, the GPS Tracker Market is projected to grow with a modest CAGR during the forecast period, i.e. 2020-2026.
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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years.
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 Sensor Type
*Transportation & Logistics
*Oil & Gas
*Metals & Mining
by Deployment Type:
*Cargo & Container
By Regional Ananlysis
*Rest of Europe
*Rest of Asia-Pacific
*Rest of LATAM
Middle East & Africa
*Rest of MEA
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,
The Information and Communications Technologies (ICT) sector in Canada consists of more than 41,500 companies, out of which, over 37,000 companies come under the category of software and computer services industries. Hence, around 89.8% of key players in the ICT industry are involved in software and computer services, 4.5% companies are in ICT wholesaling, 3.4% in communications services and the remaining 2.2% companies are involved in ICT manufacturing in the country, as per the Canadian ICT Sector Profile released by the Government of Canada in 2018.
Reasons to Purchase this Report
* Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
* Provision of market value (USD Billion) data for each segment and sub-segment
* Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
* Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
* Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
* Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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