Innovations in Features and Applications Fuel Expansion of the Global Smart Tracker Market
DUBLIN, Nov. 7, 2023 /PRNewswire/ -- The "Smart Tracker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global smart tracker market has achieved substantial growth, reaching a market size of US$ 493.0 million in 2022. It is projected to continue its upward trajectory, with an expected compound annual growth rate (CAGR) of 11.6% during the forecast period of 2023-2028, eventually reaching a total valuation of US$ 988.8 million.
Key Market Drivers:
Smart trackers are electronic devices integrated into specific equipment and household appliances, such as vehicles, head-mounted displays, smart jewelry, implantable devices, fitness wearables, and smartwatches. They are equipped with sensors, embedded accumulators, internal storage, and microprocessors to receive and track real-time data. Smart trackers utilize technologies such as cellular networks, Bluetooth, and global positioning systems (GPS) to record information, facilitating various functions including activity monitoring, location tracking, fleet performance improvement, and vehicle utilization measurement.
The global smart tracker market is witnessing positive growth primarily due to the significant expansion of the healthcare industry worldwide. Smart trackers are widely employed in health and fitness devices to monitor various health parameters, including sleep patterns, blood oxygen levels, blood pressure, and heart rate. Additionally, their integration into smart devices enhances usability and user experiences by enabling data collection and analysis.
Smart trackers have found application in personal computers (PCs) and laptops, allowing for location tracking in cases of theft or misplacement. The introduction of miniaturized smart trackers that can be easily installed in a wide range of devices, including pacemakers, cellphones, smartwatches, computers, wearable devices, and defibrillators, is further driving market growth.
Manufacturers are launching innovative smart tracker variants equipped with advanced features like virtual assistance, voice recognition, and artificial intelligence (AI)-based sensors, which are contributing to market expansion. Factors such as increasing digitalization, growing adoption of smart trackers in smart homes, and rising consumer spending capacity are expected to fuel further market growth.
Key Market Segmentation:
The report offers an extensive analysis of the competitive landscape within the global smart tracker market. It covers various aspects of competition, including market structure, market share among key players, player positioning, top-winning strategies, a competitive dashboard, and company evaluation quadrant. Detailed profiles of major companies such as Chipolo, Findster, iKON Tracker, Kaltio Technologies, Link AKC, Lugloc, Pebblebee, PitPatPet Inc, ThinkRace Technology Co. Ltd., and Tile Inc. (Life360 Inc.) are also included in the report.
Key Questions Answered in This Report:
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