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GPS tracking device market forecast to 2023 explored in latest research

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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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Drivers: 

             Increasing demand for commercial vehicles

Restraints:

             Changing government regulations & policies as per region

Opportunities:

             Use of GPS tracking devices by small businesses for process improvement

Challenges:

             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

Government bodies

Technology Standards Organizations, Forums, Alliances and Associations

End-use industries

Regulatory bodies, policymakers and consumers.

By Type

OBD Device

Advance Tracker

Standalone Tracker

By Deployment Type

Cargo and Container

Commercial Vehicle

By Industry

Oil & Gas

Metals & Mining

Transportation & Logistics

Construction

Others

By Region

North America

Europe

Asia-Pacific

ROW

Key Market Players

Sierra Wireless, Inc.

Orbocomm Inc.

Laird PLC

Calamp Corporation

Queclink Wireless Solutions Co., Ltd

Shenzhen Concox Information Technology Co., Ltd

Meitrack Group

Atrack Technology Inc.

Trackimo LLC

Teltonika UAB

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News From

Genesis Market InsightsGenesis Market Insights
Category: Market Research Publishers and RetailersCompany about: Genesis Market Insights (GMI), is a subsidiary of Genesis Management & Market Research Pvt.Ltd. (GMMR) having a strong experience both in primary and secondary market research serving small to large scale enterprises across the globe. Established in 1993, GMMR has become a recommended brand for Market Research for various international and MNC Corporations with its strong data foundation. With its exhaustive research capabilities, strong analytics services and in-house data validation tools, ...
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