Gps Tracking Device Market Is Anticipated To Grow At A Cagr Of 8% During 2022-2027

By Author: Lucintel LLC
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The global GPS tracking device market is projected to reach $2.9 billion by 2027, at a CAGR of 8% during 2022-2027. The growth of GPS tracking device market is driven by growth in the transportation and logistics industry and affordable price of GPS tracking devices.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the GPS tracking device market by end use industry (transportation and logistics, construction, oil and gas, metal and mining, government, and others), device type (standalone trackers, OBD devices, and advanced trackers), deployment type (commercial vehicles, cargo and containers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the GPS tracking device market?
Q.4 What are some changing demands of customers in the GPS tracking device market?
Q.5 What are the new developments in the GPS tracking device market? Which companies are leading these developments? ...
...
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this GPS tracking device area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this GPS tracking device market?
Emerging trends, which have a direct impact on the dynamics of the industry, include development of humancentric GPS tracking and monitoring devices and more emphasis on livestock welfare tracking.
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Market Segmentation:
Based on deployment, the GPS tracking device market is segmented into commercial vehicles, cargo and containers, and others. The commercial vehicle segment is accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period due to growth in commercial vehicle production and increasing uses of GPS tracking devices in the transportation and logistic industry.
North America is expected to be the largest region due to the increasing adoption of intelligent transport systems and APAC is expected to witness the highest growth over the forecast period, supported by increasing vehicle production and increasing trade activities.
Key Players in the GPS tracking device market are CalAmp Corporation, Orbcomm Inc., Sierra Wireless, ATrack Technology, Geotab, Concox Information, Trackimo, Meitrack Group, and Ruptela UAB.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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