Market Research Future (MRFR) anticipates that the market for GPS tracking device 2020 can procure a striking valuation of USD 2.53 Billion by 2023-end. MRFR also expects the market to advance at a rate of 11.9% between 2017 and 2023, which is the appraisal period. We will provide covid-19 impact analysis with the report. The report offers an in-depth review of the market following the coronavirus disease outbreak.
Owing to the huge demand for the GPS Tracking Device product, key players operating in the market relish on economies of scale. Due to a large number of partnerships and collaborations, the demand for the GPS Tracking Device product has risen at a considerable rate. However, the new entrants in the market are in an effort to increase their partnerships with the OEMs, which will result in an increased market share over the coming years. On the other hand, companies are also investing heavily in interoperability, which is expected to intensify the market competition during the forecast period.
GPS Tracking Device Market Analysis Regional Classification
The GPS Tracking Device market has gained global adoption due to rising demands for precision tools, expansion of industries, and demand for better technologies. The global GPS Tracking Device market is divided into North America, the Asia Pacific, Europe, and the rest of the world. The European region is currently leading the market due to the well established industrial sector, demands for smart alternates, demands for new technologies, and other factors. The Asia Pacific region is the fastest-growing market due to the fast expansion of major industries, the rapid development of economies, the rise of demand for better technologies, and other factors.
GPS Tracking Device Market Demand Growing Rapidly with Top Manufacturers
Verizon Wireless (U.S), Concox Information Technology Co., Ltd. (China), Calamp Corp. (US), Orbocomm Inc. (US), Sierra Wireless Inc. (Canada), Atrack Technology Inc. (Taiwan), Tomtom International Bv ( Neitherland), Spy tech, Inc. (U.S), Queclink Wireless Solutions Co. Ltd. (China), Laipac Technology, Inc. (Canada), are the renowned companies operating in the GPS tracking devices industry.
GPS Tracking Device Market Segmentation
The global Industry segmented into GPS Tracking Device Market Size, type, component, voltage, application and region. By type the segment is further classified into skid mounted and mobile GPS Tracking Device. By component, the segment is further classified into switchgear, bus bar, HVAC systems, transformer, frequency drives, monitoring and control systems and others. By voltage, the segment, is further classified into low voltage and medium voltage GPS Tracking Device. GPS Tracking Device are used in various industries such as oil and gas, mining, transportation, and power utilities.
Apart from the uses and features, the global GPS Tracking Device market faces challenges from vendor dependency, security issues, and other factors, which has restrained the global GPS Tracking Device market growth. This file offers a complete outlook on the opposition, opportunities, drivers restraints, and other factors affecting the neighborhood and global serverless architecture marketplace. The worldwide market is anticipated to sign in approximately 25 % annual growth in this era.
The Middle East and Africa
Covid 19 Analysis
Due to a rise in phishing activities, COVID-19 has substantially increased the adoption of cloud infrastructure and services. In addition, COVID-19 has significantly increased the security budget, which has resulted in a large increase in cloud infrastructure and services. According to the findings of a study conducted by Microsoft and published in August 2020, 36% of the total 800 respondents said that the budget for cybersecurity had risen as a consequence of the pandemic outbreak. Additionally, 42 percent of those who answered the survey said that the company altered its personnel by adding more security experts.
Drivers and Restraints
The GPS Tracking Device market is driven by numerous factors such as increasing construction FDI in the Asia Pacific region, and policy reforms and policies that support them. Governments across all regions are observed, their construction sector supported, and created. The emerging economies are the ones that put in various reforms and regulations in particular to fuel their infrastructure growth and the real estate market. Such expansion is slated to increase scaffolding's market growth. The GPS Tracking Device market has constraints such as fluctuating prices of raw materials and slower economic growth, which hinder market development.
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Table of contents:
1 EXECUTIVE SUMMARY
1.1 GLOBAL GPS Tracking Device MARKET, BY COMPONENT
1.2 GLOBAL GPS Tracking Device MARKET, BY ORGANIZATION SIZE
1.3 GLOBAL GPS Tracking Device MARKET, BY DEPLOYMENT
1.4 GLOBAL GPS Tracking Device MARKET, BY END-USERS
1.5 GLOBAL GPS Tracking Device MARKET, BY REGION
2 MARKET INTRODUCTIONS
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
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