Global GPS Equipment Market Report 2023 | Market Size, Key Drivers And Top Trends | Calamp Corporation, Sierra Wireless, Inc., Orbocomm Inc., Queclink Wireless Solutions Co.
As per the GPS equipment market report by The Business Research Company, increased use of GPS tracking devices in commercial vehicles contributed to the growth of the GPS equipment market. GPS tracking devices help in monitoring commercial vehicles such as trucks, buses, heavy commercial vehicles, and construction vehicles. Through monitoring and handling these vehicles in real-time with GPS trackers, companies can get real-time updates, optimize routes, increase efficiency, and improve fuel efficiency among others.
The global GPS equipment market size will grow from $2.4 billion in 2022 to $2.54 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The global GPS equipment market size is expected to grow to $3.12 billion in 2027 at a CAGR of 5.4%.
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Major competitors in the GPS equipment market include Calamp Corporation, Sierra Wireless, Inc., Orbocomm Inc., Queclink Wireless Solutions Co., Ltd., Laird PLC., Tomtom International Bv, Concox Wireless Solution, Xirgo Technologies, Inc., Shenzhen Concox Information Technology Co. Ltd., and Maestro Wireless Solutions.
The GPS equipment market is segmented -
•By Product Type: Data loggers, Data pushers, Data pullers, Covert GPS Trackers
•By End-Use Industry: Transportation & Logistics, Construction, Oil & Gas, Metals & Mining, Government, Other End-Use Industries (Hospitality, Education, Retail, Agriculture, and Healthcare)
•By Application: Road, Aviation, Marine, Location-based services, Surveying and Mapping, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the GPS equipment market.
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The GPS equipment refers to various devices and tools required for the functioning of satellite navigation system. A GPS is a satellite navigation system that determines an object's location on the ground.
The Table Of Content For The GPS Equipment Market Include:
1. Executive Summary
2. GPS Equipment Market Characteristics
3. GPS Equipment Market - Macro Economic Scenario
4. GPS Equipment Market Size And Growth
5. GPS Equipment Market Segmentation
26. GPS Equipment Market Competitive Landscape And Company Profiles
27. Key Mergers And Acquisitions In The GPS Equipment Market
28. GPS Equipment Market Trends And Strategies
29. GPS Equipment Market Future Outlook and Potential Analysis
The "Global GPS Equipment Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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