Global GPS Tracking Device Market Overview:
The Global GPS Tracking Device market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Global GPS Tracking Device Market, as well as the reasons for variations in the industry's growth in various locations.
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Market Scope:
This research study makes extensive use of secondary sources, directories, and databases, such as annual reports, press releases, journals, company websites, and databases, to discover and collect excerpts acceptable for this study.
The market for GPS tracking devices is anticipated to increase at a CAGR of 11.8% over the course of the forecast period and is projected to reach US$ 4.43 billion by 2029.
Segmentation:
The market for GPS tracking devices is expanding as a result of an increase in the number of commercial vehicles and the accuracy of these devices in determining the location of moving items. Additionally, the use of GPS technology to track and monitor these cars is growing since it provides better customer service, is compact, and has a longer lifespan. Additionally, the worldwide GPS tracking device market is anticipated to rise throughout the projected period due to the use of GPS tracking devices for security and surveillance applications. The report's research of important competitors by region has been covered, providing readers with a detailed insight of the industry at a micro level.
Key Players:
The entire method entails an examination of the key market players' financial reports. Following the assessment of the overall market size, the market was segmented into several divisions and sub-segments and validated by key industry professionals and marketing executives. The biggest players in the Global GPS Tracking Device market are as follows:
• Laird PLC
• Calamp Corp
• Teltonika UAB
• Concox Wireless Solutions Co., Ltd.
• TomTom International BV
• Sierra Wireless Inc.
• Geotab Inc.
• Meitrack Group
• ATrack Technology Inc.
• Orbocomm Inc, Ltd.
• Trackimo LLC
• Queclink Wireless Solutions Co., Ltd.
• Meiligao GroupTELTONIKA
• Spy Tec International
• Rekvizitai.lt Lithuania
• Lantronix, Inc
• Xirgo Technologies.
• GPS Insight
• ClearPathGPS, Inc
Regional Analysis:
The regional description of the Global GPS Tracking Device market analysis also contains individual market influencing variables and changes in market regulations that affect current and future market trends. Current and future trends are reviewed to evaluate the overall market potential and to identify profitable trends to get a more solid footing. The geographical market evaluation is based on the current environment and anticipated trends.
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COVID-19 Impact Analysis on Global GPS Tracking Device Market:
End-user industries where Global GPS Tracking Device are utilized had a drop in growth from January 2020 to May 2020 in some countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant fall in the revenues of businesses operating in these industries and, as a result, in demand for Global GPS Tracking Device manufacturers, impacting the Global GPS Tracking Device market's growth in 2020. With lockdowns and an increase in COVID-19 instances throughout the world, end-user business demand for Global GPS Tracking Device has declined dramatically.
Key Questions Answered in the Global GPS Tracking Device Market Report are:
- Which segment had the largest share in the Global GPS Tracking Device market in 2021?
- What is the competitive landscape of the Global GPS Tracking Device market?
- Which are the key drivers aiding the Global GPS Tracking Device market growth?
- Which region has the maximum share in the Global GPS Tracking Device market?
- What will be the CAGR of the Global GPS Tracking Device market during the forecast period (2021-2027)?
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