Gps Tracking Device Market By Type (OBD Device, Advance Tracker, Standalone Tracker), By Deployment Type (Cargo and Container, Commercial Vehicle) By Industry (Oil & Gas, Metals & Mining, Transportation & Logistics).
GLOBAL GPS TRACKING DEVICE MARKET was valued at USD 1.46 Billion in the year 2017. Global GPS Tracking Device Market is further estimated to grow at a CAGR of 11.12% from 2017 to reach USD 2.74 Billion by the year 2023.
Europe region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the UK as well the emerging markets like China with highest population base holds a notable market share in 2017 and it is projected to grow at a gradual pace in the coming years.
Sierra Wireless, Inc. (Canada), Orbocomm Inc. (US), Laird PLC (UK), Calamp Corporation (US), Queclink Wireless Solutions Co., Ltd (China) are some of the key players in the GPS Tracking Device Market with Laird PLC holding the significant market share because of its better global presence both at production and at an operational level.
Rising research and development expenses to address the changing demand of end users. Similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
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Increasing demand for commercial vehicles
Changing government regulations & policies as per region
Use of GPS tracking devices by small businesses for process improvement
Estimating the demand to cater production capacity
Segmentation done on the basis of Industry includes Oil & Gas, Metals & Mining, Transportation & Logistics, Construction of which the Transportation & Logistics segment is expected to hold the highest market share during the forecast period.
The Construction segment is also expected to grow at the highest CAGR of XXX during the year 2017-2023. This growth is attributed due to the use of wireless entertainment systems.
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Key Benefits for Stakeholders
GPS Tracking Device Manufacturers, Distributors and Retailers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
Regulatory bodies, policymakers and consumers.
By Deployment Type
Cargo and Container
Oil & Gas
Metals & Mining
Transportation & Logistics
Key Market Players
Sierra Wireless, Inc.
Queclink Wireless Solutions Co., Ltd
Shenzhen Concox Information Technology Co., Ltd
Atrack Technology Inc.
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