GPS Tracking Device Market - Increased Accuracy Of GPS And Decreased In Cost Of GPS Sensor
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Increased accuracy of GPS and decreased in cost of GPS sensor is one of the driver of the GPS tracking devices market during the forecast period. Increase in accuracy of GPS is one of the important factor driving the market for GPS tracking devices. GPS tracking devices provided accurate data which is more useful than raw data available. This raw data do not provide more information to take a decision. Further, decreased in cost of GPS sensor is another driver of the GPS tracking device market. Due to decrease in cost tracking device can be used in small scale economics activities and individual person can afford it. It can used by parent to track small children in the city.
Security and privacy concerns of person is one of the restraint of the GPS tacking devices market. In a number of cases, unauthorized data is obtained by service providers about geographic location of the consumer or the consumer’s vehicle. Another key restraint of the GPS tracking device market is loss of strategic data in case of cyber-attack. In cyber-attack, the attacker can get an opportunity to known key information relating geographical positioning of an individual.
The GPS tracking devices market can be segmented on the basis of type, deployment vehicle, industry and region. By type GPS tracking devices market can be further segmented as OBD device, standalone tracker & advance tracker. Key restraint for standalone GPS tracking devices is integrated GPS chips in mobile handsets. As mobile phone consists of multiple function along with tracking function and consumer preferred mobile phone over standalone GPS tracking devices as the used of smart phone is very more in developed and developing countries. Advance tracker is used in the commercial vehicles to provide basic data and engine diagnosis data. Engine diagnosis data information can used be to measure the performance of the vehicle in real time. Thus, the adoption of advance GPS trackers is more. By Deployment Vehicle it can be divided as Commercial Vehicle, Cargo & Container. By Industry segmented as Metals & Mining, Transportation & Logistics and Construction. Furthermore, the GPS tracking devices market can also be studied by regions into North America, Europe, Asia Pacific, Middle East & Africa and South America. Further, the discrete automation components are having highest growth rate in Asia Pacific region.
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Many players are involved in the GPS Tracking devices market with wider solution portfolio. Some of major players active in the global GPS tracking devices market include, Orbocomm Inc, Ltd, Calamp Corp, Concox Wireless Solution Co., Ltd., Geotab Inc. Meitrack Group, TomTom International BV, Teltonika UAB, Laird PLC, Trackimo LLC, ATrack Technology Inc,., and Sierra Wireless Inc.
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