Market Highlights

The worldwide GPS Tracker Market Size is projected to represent USD 2.72 Billion of market income during the survey time frame. Further, a similar market is expected to build the market development at a 14.42 % CAGR during the estimate time of 2018 to 2023.

The GPS global positioning framework is broadly utilized for armada the executives, watches, resource following, and transport security purposes. Henceforth, the expanding interest for GPS global positioning frameworks is driving the GPS Tracker Market Growth during the estimate time frame. Besides, these GPS beacons have many significant advantages, for example, following and route exactness, high similarity with cell phones, and rearranged and simple activity. Furthermore, this GPS tracker gadget has different advantages like the evacuation of representative extortion, better client assistance, the executives of field work force action, and diminished work costs.

Moreover, there are a few significant highlights of GPS beacons that incorporate notable armada information feed, computerized cautions, geofencing, continuous updates, and detailing. For example, the expanding interest for cutting edge GPS trackers in government and guard, transport and coordinated factors, and different businesses is relied upon to extend the worldwide market during the survey time frame. Besides, the developing worries over robbery and personals are another significant development driving variable for the worldwide market. Nonetheless, the absence of worldwide norms may frustrate the market development in the gauge time frame.

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Segmentation:

According to the GPS Tracker Market Forecast report, there are various market segments that are propelling the market revenue. These segments include Network, Type, and Vertical. The global market has been segmented into 2G, LTE, and 3G based on the network segment.

The present market has been segregated into Standalone Tracker, Covert GPS Tracker, and Advanced Tracker in terms of type segment. For instance, the wearable type GPS tracker is projected to hold the largest GPS Tracker Market Share in the research period because of its advantages like children's safety, easy availability, cost-effectiveness, and multiutility.

On the basis of the vertical segment, the worldwide market has been classified into Healthcare, Automotive & Aerospace, Government & Defense, Transportation & Logistics, Metals & Mining, Oil & Gas, and others.

Regional Analysis

The GPS Tracker Market Analysis highlights that geographical locations like Asia Pacific, Europe, North America, Latin America, and the rest of the world are the major hubs of the GPS tracker industry.

Among all, the Asia Pacific regional market is anticipated to witness the highest CAGR during the forecast period of 2018 to 2023. This regional market is expanding due to the growth in vehicle production in developing markets of China and India; and the development of strict government regulations. According to the International Organization of Motor Vehicle Manufacturers (OICA), growth has been witnessed in commercial vehicles production in India. In 2016, the production was 4.51 million, and further, it has increased to 4.78 million by the end of the year 2017.

Industry News

Presently, the leading market player for GPS trackers market is ORBCOMM. This company provides Machine-to-Machine (M2M) communications solutions and Industrial Internet of Things (IoT) that are helpful to monitor, track, and manage mobile and fixed assets.

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Global GPS Tracker Market Research Report: By Type, (Covert GPS Tracker, Standalone Tracker, And Advanced Tracker), By Network, (LTE, 3G, and 2G), By Vertical, (Automotive & Aerospace, Healthcare, Transportation & Logistics, Government & Defense, Oil & Gas, Metals & Mining and Others) - Forecast to 2027

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