GPS tracking device is used in vehicles to help track the live traffic conditions and locate specific vehicle position. Increase in commercial vehicle sales and rise in specific government mandates such as electronic logging device (ELD), vehicle theft protection are some of the reasons that are contributing towards the growth of GPS tracking device market. In addition, affordable price and high return on investment is promoting the market growth. The transportation and logistics industry is accounting for the largest market segment providing highest market revenue. GPS tracking devices are extensively used in heavy vehicles such as buses, trucks, trailers and in light vehicles that used for commercial purposes such as school buses or public buses.
The report on the global GPS tracking device market uses the top-down and bottom-up approaches to define, analyze, and describe the market trends for the next five years. The report also tracks the emerging applications, innovative technologies, and mergers & acquisitions. It also focuses on the growth drivers and restraints for the key market players during the forecast period.
KEY BENEFITS OF THE REPORT
KEY PREMIUM INDUSTRY INSIGHTS
The GPS tracking device market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. The European market holds the maximum market share and contributes the highest revenue in GPS tracking devices market. The region is more dominant than the other regions because of the presence of automotive manufacturing hub. In addition, various events and conferences are held to spread awareness regarding the GPS tracking devices which is why there is a scope for the market growth. Next in line is the Asia-Pacific region which is estimated to be the fastest growing market during the forecast period. Some of the factors that are promoting the growth of GPS tracking devices market in the Asia-Pacific region include, rise in number of manufacturing facilities, poor infrastructure and awareness about asset safety and security.
The research methodology for Scalar Market Research’s GPS tracking device market report utilizes a combination of top-down and bottom-up research formats. Our primary focus on continuous market tracking, rigorous fact-checking, data-triangulation, and multiple layers of quality control ensures high-quality data that can be leveraged for actionable research insights.
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This report analyzes the GPS tracking device market by the following segments:
KEY MARKET PLAYERS
Key players in the GPS tracking device market include:
GEOGRAPHIC COVERAGE AND ANALYSIS
This granular market research report covers the following geographic regions in great detail:
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