GPS Tracking Device Market - Growth Drivers, Opportunities and Forecast Analysis to 2027

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The tracking device market is anticipated to grow by US$2.53 Billion by 2023 rapidly growing at a CAGR of 11.9% during the forecast period 2017 and 2023. The GPS Tracking Device market is driven by growth in IoT and advanced solutions being developed in cloud technology. These factors have helped shape the tracking device market and are expected to boost the growth. Companies in the tracking device market could also face challenges such as lack of skilled professionals and limited awareness about such devices. The details covered in the tracking device market report cover all the aspects of the industry. tracking device market analysts have also shared growth projections in the report and have suggested tracking device market players to plan growth strategies accordingly.


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Market Segmentation


The GPS Tracking Device market has been segmented based on type, components, and end-users. On the basis of components, the market for tracking device is segmented based on Personal GPS Trackers, GPS Loggers, and Real-Time GPS Trackers. Additionally, the market on the basis of type, is segmented into Standalone Tracker, Covert GPS Trackers, and Advance Tracker. The global market for tracking device is also covered based on the end-users segment which is further split into Healthcare, Automotive and aerospace, Government and defense, and Transportation.




Factors like use of modern technology in GPS tracker and arrival of standalone advance tracking devices support the tracking device market growth. The performance of the tracking device market has also been studied for the past and current years. Additionally, the tracking device market report provides analysis of these segments. The tracking device market segmental analysis provided in the report offers major details about the tracking device market performance and future.


Regional Overview


Companies in the tracking device market are spread across the world. The tracking device market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American tracking device market has many companies across the United States, Canada, and Mexico. Europe has companies in the tracking device market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the tracking device market across India, China, and Japan in the Asia-Pacific region is also presented in the report. The tracking device market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the tracking device market can be found in the market research report.


Competitive Landscape


The tracking device market is supported by growing demand from commercial sectors and rising need for the personal purposes. The population growth around the world and increasing demand of tracking device market based services and products also support the market growth. However, the tracking device market growth can be affected due to a highly competitive market for new entrants and lack of support for startups. The report covers all such details which will help companies in the tracking device market to strengthen their business plan and improve their product portfolio. The tracking device market research report also provides company profiles of major companies. The company profile of organizations operating in the tracking device market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the tracking device market. New entrants and established players can plan their strategies based on this data provided in the tracking device market research report.


Industry News


Buoyed by the increased excitement regarding the launch of the coronavirus vaccine, the U.S. stocks of telecoms have seen a reasonably stable showing for much of the past week. In comparison, after initial rebuffs, with President Trump signing the bipartisan assistance package worth $2.3 trillion, the industry seems to have achieved a feeling of prosperity going into 2021.


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