Industry Background:
GPS trackers are devices which use global positioning system to find out exact location of an individual or objects. The recorded location can be tracked or transmitted using cellular or satellite connection in-built in it. GPS trackers are increasing enormously largely because they help business in streamlining various operations and make them efficient. Of late, GPS trackers are finding their application in commercial vehicles, and their adoption in near future is expected to increase significantly which in turn providing huge opportunity for manufacturers.According to AMA, the market for Gps Trackers is expected to register a CAGR of 15.4% during the forecast period to 2026. This growth is primarily driven by Growing Need to Lower Down the Operational Cost and Improving Efficiencies of Various Businesses and Increasing Demand for GPS Trackers from Fleet Management System.
Globally, a noticeable market trend is evident Growing Deployment of GPS Tracker in Usage-Based Insurance (UBI)
. Major Players, such as Blueskysea (United States), Coban (China), Amber Alert (United States), MotoSafety (United States), TrackmateGPS (United States), ACR Electronics, Inc (United States), Garmin (United States), Spy Tec (United States), GlobalSat (United States), Laird (United Kingdom), Xirgo Technologies (United States) and Maestro Wireless Solutions (Hong Kong) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Growing Need to Lower Down the Operational Cost and Improving Efficiencies of Various Businesses
- Increasing Demand for GPS Trackers from Fleet Management System
Market Trend
- Growing Deployment of GPS Tracker in Usage-Based Insurance (UBI)
- Rising Telematics Led to Increasing Adoption of GPS Trackers in Commercial Vehicles
Restraints
- Need for Consistent Cellular Network Connectivity
Opportunities
Introduction of Advanced Software in GPS Tracking System and Increasing Transportation and Logistics Industry
Challenges
Increasing Market for Poor Standard Products and Environmental Factors Result in Poor User Experience
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Gps Trackers Study Sheds Light on
— The Gps Trackers Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Gps Trackers industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Gps Trackers industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.