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GPS Tracking Device Market to Reach $2.8 Billion by 2023 - Analysis By Type, Deployment Type, GPS Tracking Device, Industry & Geography - Research and MarketsDUBLIN, June 23, 2017 /PRNewswire/ -- Research and Markets has announced the addition of the "GPS Tracking Device Market by Type (Standalone Tracker, OBD Device & Advance Tracker), Deployment Type (Commercial Vehicle, Cargo), Industry (Transportation & Logistics, Metals & Mining, & Construction) & Geography - Global Forecast to 2023" report to their offering. The GPS tracking device market is expected to reach USD 2.89 Billion by 2023, at a CAGR of 12.91% between 2017 and 2023. The growth of this market is propelled by various factors such as increasing commercial vehicle sales; and various government mandates such as electronic logging device (ELD), affordable price, high ROI, and vehicle theft protection. Advance tracker is expected to grow at the highest CAGR during the forecast period. Advance tracker is professionally installed in vehicles, and cargo and container not only provides vehicle location but also share engine diagnosis and various parameters for temperature-controlled logistics. The information related to vehicle performance captured by these devices is valuable, and thus the adoption rate of these trackers is high as compared to other types of GPS trackers. APAC is expected to be the fastest-growing market in the overall market during the forecast period. The major driving factors for the growth of the market in APAC are increased number of manufacturing facilities, aging infrastructure, and asset's safety and security. One of the key restraining factors for the GPS tracking device market is nonstandard products that are coming into the market. To gain competitive advantage, some manufacturers are introducing low-cost GPS tracking devices in the market. These devices may lead to poor user experience because of substandard GPS tracking devices. Companies Mentioned
Key Topics Covered: 3 Executive Summary 8 Communication Technologies for Gps Tracking Device For more information about this report visit https://www.researchandmarkets.com/research/spc3mk/gps_tracking Media Contact: Research and Markets |