GPS Tracker Market: Advanced Trackers Segment by Type to Witness High Growth

The global market for GPS trackers is witnessing a tremendous growth due to emergence of new applications that use the GPS trackers system. The market is also expected to witness continued revenue growth in traditional applications such as preventing valuables from theft. However, non-standard products will always be a concern in this market due to poor quality involved in tracking.

According to new report published by Future Market Insights, revenue from the global GPS tracker market is likely to be valued at US$ 3,482.3 Mn in 2027, expanding at the CAGR of 8.4% during the projected period.

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Governments should focus on launching more satellites to improve the accuracy of navigation and location detection provided by GPS trackers. GPS Tracker manufacturers should focus on manufacturing high standard trackers and the non-standard trackers available in the market with poor quality should be banned. Awareness among population and businesses should be increased considering all the potential advantages provided by GPS trackers. For successful implementation of GPS Trackers in novel applications, proper R&D should be conducted.

On the basis of type, the global GPS tracker market is segmented into standalone trackers, OBD trackers, and advance trackers. On the basis of industry, the global GPS tracker market is segmented into transportation and logistics, construction, government, defense, energy & utilities, healthcare, others. In terms of value, Transportation and Logistics segment is projected to be the most attractive in the Global GPS Tracker market during the forecast period.

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On the basis of Application, the global GPS trackers market is segmented into fleet Management, asset Management, others. Fleet Management is not only anticipated to exhibit high market attractiveness index over the forecast period, but is also expected to capture largest market share of 56.3% in 2027.

Seven regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and MEA are included in this report. In terms of value, North America and APEJ are projected to be the most attractive regions in the Global GPS Tracker market during the forecast period. Western Europe market is expected to register high Y-o-Y growth rates throughout the forecast period.

Some of the key players operating in the global GPS trackers market are Calamp Corporation, Sierra Wireless, Inc., Tomtom International Bv, Xirgo Technologies, Inc., Queclink Wireless Solutions Co.,Spy Tec International Inc., ATrack Technology, Inc., Maestro Wireless Solutions Limited, Ruptela. Other players functioning in this market are- Laipac Technology Inc, Rocky Mountain Tracking Inc., Amcrest Technologies Llc.

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