Global GPS Tracking Devices Industry Expected to Reach $3.8 Billion by 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global GPS Tracking Devices Market (2022-2027) by Type, Technology, Industry, Geography, Competitive Analysis and Covid-19 Impact with Ansoff Analysis” report has been added to from ResearchAndMarkets.com offer.

The Global GPS Tracking Devices Market is estimated to be worth USD 2.14 Billion in 2022 and is projected to reach USD 3.82 Billion by 2027, growing at a CAGR of 12.3%.

Market dynamics are forces that are impacting pricing and stakeholder behaviors in the global GPS Tracking Devices market. These forces create price signals that result from changes in the supply and demand curves for a given product or service. The forces of market dynamics can be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand and supply. Human emotions can also drive decisions, influence the market and create price signals.

As market dynamics impact supply and demand curves, policymakers aim to determine how best to use various financial tools to stem various strategies aimed at accelerating growth and reducing risk.

Competitive quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and assess the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Ansoff analysis

The report presents a detailed analysis of the Ansoff Matrix for the Global GPS Tracking Devices Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design business growth strategies. The matrix can be used to assess approaches in four strategies viz. Market development, market penetration, product development and diversification. The matrix is ​​also used for risk analysis to understand the risk associated with each approach.

The analyst analyzes the global GPS Tracking Devices market using the Ansoff Matrix to provide the best approaches a company can take to improve its position in the market.

Based on the SWOT analysis done on the industry and industry players, the analyst has designed appropriate strategies for market growth.

Why buy this report?

  • The report offers a comprehensive assessment of the Global GPS Tracking Devices Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and market size projections. Projections are calculated using proven research methodologies.

  • The report has been compiled through extensive primary and secondary research. The main research is done through interviews, surveys and observations of renowned personnel in the industry.

  • The report includes in-depth market analysis using Porter’s 5 forces model and Ansoff’s matrix. Additionally, the impact of Covid-19 on the market is also presented in the report.

  • The report also includes the regulatory scenario in the industry, which will help you to make an informed decision. The report discusses the major regulatory bodies and major rules and regulations imposed on this industry across various geographies.

  • The report also contains competitive analysis using Positioning Quadrants, the analyst’s proprietary competitive positioning tool.

Market dynamics

Drivers

  • Commercial vehicle growth

  • Growing benefits of smaller size, longer life, high return on investment and affordable prices

Constraints

  • The impact of non-standard products and several environmental factors lead to poor user experience

Opportunities

  • Use of GPS tracking device for usage-based insurance (UBI)

  • Advancement in software

Challenges

  • Increased adoption of hardware-independent tracking solutions

Market segmentation

The global GPS tracking devices market is segmented on the basis of type, technology, industry, and geography.

  • By type, the market is categorized into data loggers, data pushers, and data extractors.

  • By technology, the market is categorized into standalone tracker, OBD device, and optical network terminal.

  • By industry, the market is categorized into transportation and logistics, construction, oil and gas, metals and mining, government, and others.

  • By geography, the market is categorized into Americas, Europe, Middle East & Africa, and Asia-Pacific.

Companies cited

  • Atrack Technology Inc.

  • Calamp Corp.

  • Concox Information & Technology Co. Ltd (Shenzhen Jimi IoT Co. Ltd)

  • Geotab Inc

  • Meitrack Group

  • Orbcomm Inc

  • Queclink Wireless Solutions Co. Ltd

  • Sierra Wireless Inc.

  • Starcom Systems Ltd

  • Trackimo Group

  • Teltonika Uab

For more information about this report visit https://www.researchandmarkets.com/r/aw8yad

About Geraldine Higgins

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