Latest News- Gps Tracker Market: Logistics and transportation is expected to lead the End-user segment during 2024-2028

The Gps Tracker Market is being driven by Increasing demand for fleet management system

The Gps Tracker Market is expected to grow at a CAGR of 19.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2133.8 million. In the dynamic GPS tracker market, vendors are forging strategic alliances with technology providers, certification agencies, and software developers to broaden their reach, advance product innovation, and gain access to cutting-edge technologies and resources. For instance, CalAmp Corp.'s recent partnership with Assured Techmatics in June 2022, enables the company to offer fleet operators the assured Apollo electronic logging device solution alongside its CalAmp edge computing devices. Furthermore, market players are also pursuing acquisitions of related companies to access their technologies and software, thereby bolstering their product offerings and fueling market expansion throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Logistics and transportation
  • Construction and mining
  • Government
  • Oil and gas
• Technology
  • Standalone tracker
  • Obd device
  • Advance tracker
• Geography
  • Europe
    • Germany
    • France
  • APAC
    • China
    • Japan
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for fleet management system
• Growing investment in satellite deployment
• Growing investment in LTE network

However, the market also witnesses some limitations, which are as follows:

• Growing demand for OBD dongles
• Connectivity issues with GPS trackers
• Security issues related to fleet management system

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Market Scope in Gps Tracker Market Research Report

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Research Analysis Overview

The GPS tracker market caters to fleet management solutions, providing real-time monitoring of vehicle movements through GPS tracking devices. Fleet managers utilize this technology for optimizing operational activities, resource allocation, and enhancing operational efficiency. Valuable assets are safeguarded against theft, while vehicle telematics requirements offer insights into driver behavior and vehicle performance. RS-232 connections facilitate integration with external equipment, and 4G Cat 1 ensures reliable connectivity. Features include tracking speed, direction, and vehicle location, as well as addressing concerns of personal safety, cyber threats, hacking attempts, unauthorized access, legal repercussions, and financial losses.

Market Research Overview

The Global Gps Tracker Market is a significant segment of the larger Technology Hardware, Storage, and Peripherals industry. This market encompasses manufacturers and providers of vehicle monitoring systems, fleet management solutions, real-time location tracking devices, geofencing solutions, personal safety devices, asset tracking systems, mobile tracking applications, IoT-based location tracking systems, fleet tracking systems, supply chain monitoring solutions, location-based services, wireless asset management systems, smart tracking solutions, and GPS-enabled devices. According to Technavio's market analysis, the growth of this market will be fueled by the increasing demand for cloud services and digitization in the new business landscape post-COVID-19, which is driving the need for advanced data centers and digital infrastructure. Companies are investing in these technologies to adapt to the evolving work-from-home culture and ensure efficient operations during the crisis.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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Website: www.technavio.com/