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.
The GPS tracking devices market has been pick immense speed in recent years, thanks to the rising adoption of the latest technologies across multiple industries. The boost given to the security systems along with better resource management can be instrumental in the market growth. Businesses everywhere are increasingly deploying GPS to track vehicles, gaining the upper hand by giving an enhanced customer experience. As a result, the increasing deployment of GPS trackers in commercial vehicles can play a significant role in market expansion.
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Which segment will provide the most chance for GPS Tracking Device Market growth Analysis till 2027?
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.
Which Top Market Participants are Consider for the highest GPS Tracking Device market share?
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.
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Apart from the uses and features, the global GPS Tracking Device Industry 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.
GPS Tracking Device Market By Geography
Asia pacific
Europe
North America
The Middle East and Africa
Latin America
Market Segmentation
GPS Tracking Device Market 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.
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