Global GPS Tracking Device Market accounted to USD 1.5 billion in 2016 growing at a CAGR of 13.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
A GPS tracking unit is a device, normally carried by a moving vehicle or person, that uses the Global Positioning System to determine and track its precise location, and hence that of its carrier, at intervals. The latest trend in this market is growth in commercial vehicle leading to the growth of GPS system, they are small in size, easy to carry, which may further develop the market in future. There is need of GPS tracking devices for several applications like Transportation & Logistics, Construction, Oil & Gas, Metals & Mining, Government; others will create a huge market for the GPS tracking devices.
On the basis of type the GPS tracking device marketis segmented into Standalone Tracker, PBD Device, and Advance Tracker. The advance tracker market is expected to grow in the forecasted period.
On the basis of deployment type the GPS tracking device market is segmented into Commercial Vehicle, Cargo and Container, Others.The commercial vehicle market is expected to grow in the forecasted period.
On the basis of application the GPS tracking device market is segmented into Transportation & Logistics, Construction, Oil & Gas, Metals & Mining, Government, Others.The transportation and logistic market is expected to grow in the forecasted period.
On the basis of geography, GPS tracking device marketreport covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
GPS Tracking Device Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.