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Global GPS Tracker Market 2019-2023 | Growing Demand for Advanced GPS Trackers to Boost Growth

Global GPS Tracker Market 2019-2023 | Growing Demand for Advanced GPS Trackers to Boost Growth

LONDON–(BUSINESS WIRE)–The global GPS tracker market is expected to post a CAGR of over 10% during the period 2019-2023, according to the latest market research report by Technavio.

several companies from a wide range of industries are seen implementing fleet management systems in their business operations, thereby driving the demand for GPS trackers.

As per Technavio, the growing demand for advanced GPS trackers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global GPS tracker market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global GPS Tracker Market: Growing Demand for Advanced GPS Trackers

The adoption of advanced GPS trackers is increasing significantly in commercial vehicles, cargo containers, and fleet management due to new features. The adoption of advanced trackers in fleet management systems helps managers keep a closer look at fleet movement and performance. This allows them to achieve high operational efficiency and return on investment (ROI). Moreover, all the information collected through advanced GPS trackers is uploaded to a software interface, which allows fleet managers to monitor the movement, fuel consumption, and appropriate routing of vehicles. These platforms can use this information to monitor fleet movement to optimize the supply chain operation, connect with the workforce, improve overall productivity, and minimize unscheduled downtime. Therefore, several vendors are seen focusing on developing and introducing advanced GPS trackers in the market, which will drive the growth of the global GPS tracker market during the forecast period.

“Apart from the growing demand for advanced GPS trackers, government mandates regarding integration of GPS trackers into vehicles, growing investment in satellite deployment, and the growing investment in LTE network are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

Global GPS Tracker Market: Segmentation Analysis

This market research report segments the global GPS tracker market by end-user (logistics and transportation; construction and mining; government; and oil and gas) and geographical regions (North America, APAC, Europe, MEA, and South America).

The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the growing demand for ride-hailing services in the region.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Source : businesswire.com

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