GPS Tracking Device Market worth 2.89 Billion USD by 2023

1. GPS Tracking Device Market worth 2.89 Billion USD by 2023 According to the new market research report "GPS Tracking Device Market by Type (Standalone Tracker, OBD Device & Advance Tracker), Deployment Type (Commercial Vehicle, Cargo & Container), Industry (Transportation & Logistics, Metals & Mining, and Construction) and Geography - Global Forecast to 2023", The GPS tracking device market is expected to reach USD 2.89 Billion by 2023, at a CAGR of 12.91% between 2017 and 2023. Factors that are driving the growth of the market include the increasing sales of commercial vehicles, small farm factor, affordable price, and high ROI. Download PDF Brochure- https://bit.ly/2q7yDas “Advance GPS tracker to hold the largest market share in the overall GPS tracking device market during the forecast period“ The growth of GPS tracking device market is driven by the growth of commercial fleet management and declining prices of GPS trackers. Advance tracker is professionally installed in the commercial vehicles to provide engine diagnosis data and vehicle performance-related information in addition to basic function. The information related to engine diagnosis can further be utilized to measure the performance of the vehicle in near-real time. Thus, this will likely to lead the adoption of advance GPS trackers. “Commercial vehicle deployment type is expected to hold thelargest market share in 2023” Deployment of GPS tracking device helps to track and monitor commercial vehicles such as trucks, buses, heavy commercial vehicles, and construction vehicles. These vehicles are loaded with valuable goods, and thus it is important to track and monitor these commercial vehicles. Moreover, according to International Organization of Motor Vehicle Manufacturers (OICA), sales of commercial vehicles are on an uptrend and may drive the GPS tracking device market. “APAC region is expected to lead the GPS tracking device market between 2017 and 2023” APAC is an emerging market for GPS tracking devices. The adoption rate of GPS tracking device in this region is low compared to other regions. Thus, it is an untapped market with a huge potential for growth of GPS tracking device. Asset’s safety and security is the key driver for the growth of the GPS tracking device market in APAC. Moreover, supportive government programs, various events and conferences, and product launches and developments are also driving the growth of the market in APAC. The major players involved in this market include Calamp Corp. (US), Orbocomm Inc. (US), Sierra Wireless Inc. (Canada), Quelink Wireless Solution Co., Ltd. (China), Concox Wireless Solution Co., Ltd. (China), TomTom International BV (Netherlands), Laird PLC (UK), Atrack Technology Inc. (Taiwan), Meitrack Group (China), Teltonika UAB (Lithuania), Trackimo LLC (US), and Geotab Inc. (Canada).

2. Companies such as Shenzhen Coban Electronics Co., Ltd. (China), Xirgo Technologies, Inc. (US), Maestro Wireless Solutions Ltd. (Hong Kong), and Ruptela UAB (Lithuania) play an important role in the ecosystem of GPS tracking devices. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Rohan MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com