Smart trackers are tiny gadgets that are attached to or placed inside important items or valuables. The simplicity of design and small size of these devices reduces the manufacturing cost of the product significantly.
MRC Announces the Publication of its Research Report – Global Smart Tracker Market 2017-2021
MRC recognizes the following companies as the key players in the global smart tracker market: identifies Tile, TrackR, Link AKC, and Lugloc
Other Prominent Vendors in the market are: Chipolo, EasyFinder, Findster, SUPER HIRO, iKON Tracker, Kaltiot, Nuzzle, Slightech, Beijing Zizai Technology, Pally, Pebblebee, Petsimpl, Pixie, Innova Technology (Protag), PitPatPet, Radius Alert Systems, Tago, ThinkRace Technology, Tumi, Whistle Labs, Wistiki, XY- The Findables Company, and ZOMM.
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Rugged smart tracker. The smart tracker is a device that is going to be carried around by the owner most of the time.
This creates the need for a durable device that can withstand the wear and tear that can take place during daily use.
Even though this was a major challenge for manufacturers initially, they have overcome this hurdle and are designing trackers that are sufficiently durable. Thus, manufacturers are now using metal to design and develop their products.
They are ensuring that all the joints are fully sealed and have received a rating of IP43.”
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According to the report, one of the major drivers for this market is Low price will drive adoption. This allows the device manufacturers to price their offerings at a reasonable rate.
The relatively inexpensive nature of smart trackers and the ease with which it can find small but valuable items that often get misplaced make this a much-needed gadget with significant potential.
Further, the report states that one of the major factors hindering the growth of this market is Poor battery backup and limited functionality. The biggest issue with smart trackers is the poor battery life of the devices and the limited functionality they offer.
The features offered by a device influences the buying decision for almost any product in the market. Most tracking devices still offer just Bluetooth connectivity to track products, making the device not so attractive for the end-user.
Even though it is handy to have a Bluetooth button, manufacturers are marketing the device's ability to control presentation slides as a major feature; this only goes on to show its limited functionality. This is because this feature of smart trackers is nowhere close to the power of the best wireless presenters available in the market.
This feature also consumes a significant amount of battery, further depleting the already poor battery life.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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