GPS (Global Positioning System) Tracking System Market Is Anticipated To Undergo A CAGR Of 12.60%, Share, Outlook, Trends, Size, Demand, and Revenue Forecast By 2030

Gps Tracking Device Market "can grow into the most important market in the world that has played an important role in making progressive impacts on the global economy. Global Gps Tracking Device Market Report presents a dynamic vision to conclude and research market size, market hope and competitive environment. The study is derived from primary and secondary statistical data and consists of qualitative and numerical analysis.

Data Bridge Market Research analyses that the GPS (global positioning system) tracking system market was valued at USD 2193.4 million in 2022 and is expected to reach the value of USD 5667.94 million by 2030, at a CAGR of 12.60% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Global positioning system (GPS) tracking system technology is one of the most innovative inventions of our time. As it continues to advance, more fleets are using it to monitor their vehicles and get driving directions throughout the world.   According to the GPS tracking system market analysis, the global market has more demands in transportations, IT and telecommunications to keep an eye on its real-time information about individuals, products and vehicles. The GPS tracker online is useful to increase the security and safety of consumers and businesses.

Market Definition

A global positioning (GPS) tracking system is a portable unit that lets users track and monitor its location. These devices are most generally used as car tracking systems in vehicles. Whereas tracking systems are similar to in-car navigation systems, there are only some differences. GPS navigation systems display drivers their location on digital map and then deliver instructions during driving to get to a selected point. On the other side, GPS trackers usage GPS technology to track a current location of vehicle's and trip history. The GPS data is then broadcasted to a smartphone, computer or tablet.

Some of the major players operating in the GPS (global positioning system) tracking system market are:

Calamp (U.S.)
Orbocomm (U.S.)
Qualcomm Technologies, Inc (U.S.)
Sierra Wireless (Canada)
Hexagon (Sweden)
Queclink Wireless Solutions Co., Ltd. (China)
Shenzhen Concox Information Technology Co. Ltd., (China)
Laird (U.K)
TomTom International BV (Netherlands)
Meitrack Group (China)
Teltonika (Lithuania)
TomTom International BV. (Amsterdam)
ATrack Technology Inc. (Taiwan)
Verizon (U.S.)
Trackimo (U.S.)
Geotab Inc. (Canada) 

Drivers

Increased sales of commercial vehicles

The growth of the tracking system market is fuelled by the increased usage in commercial vehicle and device's durability. As the retail sector develops, a GPS tracking system can detect vehicles that use GPS to track their location. This upsurges the requirement of monitoring for efficient operation and safety. Accordingly, several commercial vehicles are equipped with global positioning system (GPS) tracking system. The growing sale of commercial vehicles, stimulating the growth of the market. The growing penetration of the e-commerce industry is also expected to upsurge the demand for these ing systems in light commercial vehicles.

Growth and expansion of IoT and cloud based technology

The global positioning system (GPS) tracker system, developed with modern technology such as cloud and IoT based technology. These technology allows it to serve a variety of applications. GPS trackers are embedded with internet connectivity and electronics, transforming the information into intelligent devices and objects that can connect to the cloud. These systems can be remotely communicate and controlled with one another by using cloud and IoT based technology. Consequently, the increasing demand for cloud and IoT technology boosts the expansion of the market.

Opportunities

Increasing focus towards safety and security

GPS tracking system are normally used in trains, taxis, buses and other public and private transportation modes. An increasing focus on the security and safety of vehicles and passengers create immense market expansion. The Ministry of Road Transport & Highways mandated in 2021 that all oxygen-transporting cars be equipped with a GPS tracking device for proper monitoring and protection, thereby preventing any diversion or delay in the process.

Growing usage of digital map

Digital map is experiencing extreme growth owing to growing internet subscribers and smartphone and portable device internet usage. The growing use of digital maps creates beneficial opportunities for GPS tracking system market. Many autonomous vehicles have digital map systems for route planning and navigation. The recent advancements in digital maps, for instance 3D maps, and the ease of locating and understanding a location are the primary growth factor for the market.

Restraints

Stringent licensing regulations

Strict regulations and rules regarding licensing are also hindering the market's growth. The regulatory approval for licensing are projected to be the major challenge for the market growth over the forecast period.

Technological and network issues

 The lack of network infrastructure in underdeveloped regions is estimated to act as a major market restraint. Global positioning (GPS) tracker systems are likely to face technological hurdles due to clock inaccuracies and satellite orbit movement.

This GPS (global positioning system) tracking system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the GPS (global positioning system) tracking system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

GPS (Global Positioning System) Tracking System Market Scope

Type

Covert GPS Trackers
Standalone Tracker
Advance Tracker

Components

GPS Loggers
Personal GPS Trackers
Real-Time GPS Trackers

Deployment Type

Commercial Vehicle
Cargo and Container
Others

Industry

Automotive and aerospace
Healthcare
Transportation
Government and Defense
Others

Global GPS (Global Positioning System) Tracking System Market Regional Analysis/Insights

The GPS (global positioning system) tracking system market is analyzed and market size insights and trends are provided by country, rolling element, gear type, product, applications and design as referenced above.

The countries covered in the GPS (global positioning system) tracking system market report are report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America

Europe dominates the GPS (global positioning system) tracking system market in revenue growth due to the increase in the need for GPS tracking system. Furthermore, the numerous conferences and the events regarding this system will further boost the growth market in the region. 

Asia-Pacific is projected to be the fastest developing region during the forecast period of 2023-2030. This is mainly due to growing urbanization, particularly in Asia's developing nations. The increasing demand for tracking, navigation and security will likely to boost the growth e market.

Browse more insight of Gps Tracking Device market research report enabled with respective tables and figures @ https://www.databridgemarketresearch.com/toc/?dbmr=global-gps-tracking-device-market

Competitive Landscape and Global GPS (Global Positioning System) Tracking System Market Share Analysis

The GPS (global positioning system) tracking system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to GPS (global positioning system) tracking system market.

 The report clarifies the following uncertainties related to the Gps Tracking Device market:

What are the various factors that are likely to impact the growth of the Gps Tracking Device market?

How are market players expanding their footprint in the Gps Tracking Device market?

What is the most notable trend that is currently influencing the dynamics of the Gps Tracking Device market?

Who are the leading players operating in the Gps Tracking Device market?

Which regional market is likely to present a plethora of opportunities for market players in the Gps Tracking Device ?

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