Global GPS Tracking Device Market Size, Development, Growth and Demand Forecast to 2023
Global GPS Tracking Device Market is further estimated to grow at a CAGR of 11.12% from 2018 to reach USD 2.74 Billion by the year 2023.
(EMAILWIRE.COM, June 25, 2018 ) GLOBAL GPS TRACKING DEVICE MARKET was valued at USD 1.46 Billion in the year 2017. Global GPS Tracking Device Market is further estimated to grow at a CAGR of 11.12% from 2018 to reach USD 2.74 Billion by the year 2023. Europe region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At country level, developed markets like U.K. as well the emerging markets like China with highest population base holds a notable market share in 2017 and it is projected to grow at a gradual pace in the coming years.
Sierra Wireless, Inc. (Canada), Orbocomm Inc. (U.S.), Laird PLC (U.K.), Calamp Corporation (U.S.), Queclink Wireless Solutions Co., Ltd (China) are some of the key players in the GPS Tracking Device Market with Laird PLC holding the significant market share because of its better global presence both at production and at an operational level. Rising research and development expenses to address the changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
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Drivers:
Increasing demand for commercial vehicles
Restraints:
Changing government regulations & policies as per region
Opportunities:
Use of GPS tracking devices by small businesses for process improvement
Challenges:
Estimating the demand to cater production capacity
Segmentation done on the basis of Industry includes Oil & Gas, Metals & Mining, Transportation & Logistics, Construction of which the Transportation & Logistics segment is expected to hold the highest market share during the forecast period.
The Construction segment is also expected to grow at the highest CAGR during year 2018-2023. This growth is attributed due to the use wireless entertainment systems.
Key Benefits for Stakeholders
GPS Tracking Device Manufacturers and Retailers
Defense Industry
Software and service providers
Government bodies
Semiconductor product designers and fabricators
End use industries
Regulatory bodies, policy makers and consumers.
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By Type
OBD Device
Advance Tracker
Standalone Tracker
By Deployment Type
Cargo and Container
Commercial Vehicle
By Industry
Oil & Gas
Metals & Mining
Transportation & Logistics
Construction
Others
By Region
North America
Europe
Asia-Pacific
ROW
Key Market Players
Sierra Wireless, Inc.
Orbocomm Inc.
Laird PLC
Calamp Corporation
Queclink Wireless Solutions Co., Ltd
Shenzhen Concox Information Technology Co., Ltd
Meitrack Group
Atrack Technology Inc.
Trackimo LLC
Teltonika UAB
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At Prominent Market Research, we are committed to provide the best possible service and recommendations to all our customers. You will be able to speak to seasoned analyst who will understand your research needs accurately. We make it our business to look after yours, with an efficient and friendly team always available to help you.
Sierra Wireless, Inc. (Canada), Orbocomm Inc. (U.S.), Laird PLC (U.K.), Calamp Corporation (U.S.), Queclink Wireless Solutions Co., Ltd (China) are some of the key players in the GPS Tracking Device Market with Laird PLC holding the significant market share because of its better global presence both at production and at an operational level. Rising research and development expenses to address the changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of the top players in the last 5 years.
Request for Discount at https://www.prominentmarketresearch.com/discount-report/34261
Drivers:
Increasing demand for commercial vehicles
Restraints:
Changing government regulations & policies as per region
Opportunities:
Use of GPS tracking devices by small businesses for process improvement
Challenges:
Estimating the demand to cater production capacity
Segmentation done on the basis of Industry includes Oil & Gas, Metals & Mining, Transportation & Logistics, Construction of which the Transportation & Logistics segment is expected to hold the highest market share during the forecast period.
The Construction segment is also expected to grow at the highest CAGR during year 2018-2023. This growth is attributed due to the use wireless entertainment systems.
Key Benefits for Stakeholders
GPS Tracking Device Manufacturers and Retailers
Defense Industry
Software and service providers
Government bodies
Semiconductor product designers and fabricators
End use industries
Regulatory bodies, policy makers and consumers.
Request for Sample Report at https://www.prominentmarketresearch.com/sample-report/34261
By Type
OBD Device
Advance Tracker
Standalone Tracker
By Deployment Type
Cargo and Container
Commercial Vehicle
By Industry
Oil & Gas
Metals & Mining
Transportation & Logistics
Construction
Others
By Region
North America
Europe
Asia-Pacific
ROW
Key Market Players
Sierra Wireless, Inc.
Orbocomm Inc.
Laird PLC
Calamp Corporation
Queclink Wireless Solutions Co., Ltd
Shenzhen Concox Information Technology Co., Ltd
Meitrack Group
Atrack Technology Inc.
Trackimo LLC
Teltonika UAB
Purchase Report Now at https://www.prominentmarketresearch.com/checkout/34261
About Prominent Market Research:
At Prominent Market Research, we are committed to provide the best possible service and recommendations to all our customers. You will be able to speak to seasoned analyst who will understand your research needs accurately. We make it our business to look after yours, with an efficient and friendly team always available to help you.
Contact Information:
Prominent Market Research
Robin
Tel: +1-815-957-4373
Email us
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Prominent Market Research
Robin
Tel: +1-815-957-4373
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results