LONDON--(BUSINESS WIRE)--The GPS tracker market is expected to grow by USD 568.09 million, progressing at a CAGR of almost 7% during the forecast period. The market is fragmented due to the presence of several players. The rising demand for automobiles is forcing automakers to invest in setting up new manufacturing plants. Besides, the rising number of road accidents has led to the introduction of stricter regulations that mandate vehicles to be equipped with eCall systems that transmit the exact geographic location of the accident. Many such factors are expected to drive the demand for GPS trackers during the forecast period.
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The rising investment in satellite deployment is one of the major factors propelling market growth. The market is witnessing significant investments in the deployment of new satellites. For instance, In September 2018, Lockheed Martin Corp. announced its plans of constructing 22 next-generation GPS III satellites for the US Air Force. These satellites are expected to increase the network coverage area and strengthen the communication signals. This will increase the adoption of GPS trackers and in turn, drive the growth of the market. However, factors such as growing demand for OBD dongles will hamper the market growth.
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GPS Tracker Market: End-user Landscape
Based on the end-users, the market saw maximum growth in the logistics and transportation segment in 2019. The growth of this segment can be attributed to the growing need for continuous tracking of assets and goods in the supply chain. The market growth in the segment will be significant over the forecast period.
GPS Tracker Market: Geographic Landscape
By geography, APAC is going to witness lucrative growth during the forecast period. About 37% of the market’s overall growth is expected to originate from APAC. The rising demand for ride-hailing services led by increasing disposable incomes and strong internet penetration is the key factor driving the growth of the GPS tracker market in APAC. China and Japan are the key markets for GPS trackers in APAC.
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Related Reports on Information Technology Include:
Global Smart Tracker Market - Global smart tracker market is segmented by application (consumer products, pets, and luggage), technology (Bluetooth, cellular technology, and GPS), and geographic landscape (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Global Radio Frequency Filters Market - Global radio frequency filters market is segmented by application (cellular devices, GPS devices, tablets, and others) and geography (APAC, Europe, MEA, North America, and South America). Click Here to Get an Exclusive Free Sample Report
Companies Covered:
- CalAmp Corp.
- Concox Information Technology Co. Ltd.
- Geotab Inc.
- JSC Teltonika
- Navtelecom LLC
- ORBCOMM Inc.
- Queclink Wireless Solutions Co. Ltd.
- Sierra Wireless Inc.
- UAB Ruptela
- Xirgo Technologies LLC
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Logistics and transportation - Market size and forecast 2019-2024
- Construction and mining - Market size and forecast 2019-2024
- Government - Market size and forecast 2019-2024
- Oil and gas - Market size and forecast 2019-2024
- Market opportunity by End-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- CalAmp Corp.
- Concox Information Technology Co. Ltd.
- Geotab Inc.
- JSC Teltonika
- Navtelecom LLC
- ORBCOMM Inc.
- Queclink Wireless Solutions Co. Ltd.
- Sierra Wireless Inc.
- UAB Ruptela
- Xirgo Technologies LLC
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
