Dublin, June 22, 2023 (GLOBE NEWSWIRE) -- The "Europe GPS Tracking Device Market Segmented By Technology ,By Network, By Product Type, By Type, By End User By Region, Competition, Opportunity, and Forecast. 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The Europe GPS Tracking Device Market is anticipated to thrive in the forecast period 2024-2028, owing to increased sales of commercial vehicles, low costs, good returns on investments, and widespread use of technology.
Moreover, increasing demand for better security systems and resource management boosts the market's growth. Additionally, increasing demand for IoT and cloud technology, increased use of digital maps, and the rapid development and upgrading of the software used in GPS tracking devices are anticipated to present the Europe GPS tracking device market with numerous growth opportunities.
Global Positioning System (GPS) is a global navigation system that can locate particular locations. A GPS tracking device is linked to the Global Navigation Satellite System (GNSS) to gather information about position and orientation.
GPS tracking devices operate by transmitting radio signals and establishing satellite connections to locate a person or an object using geographic positioning. A GPS tracking gadget quickly downloads the information and pings those satellites after installation. The satellites use latitude and longitude to determine the precise location and estimated distance of a given point.
Both individually and professionally, GPS tracking is employed both individually and professionally. With GPS, anyone can track their vehicle or pet, and businesses can use GPS tracking to safeguard their assets.
Growing Demand for Cloud and IoT Technologies
The GPS tracker offers a variety of applications with its unique feature, which was created using cutting-edge technologies like IoT and cloud computing.
GPS trackers have in-built electronics and internet connectivity, making them intelligent objects and devices that can connect to the cloud, be controlled from a distance, and interact with one another. Consequently, growing interest in IoT and cloud technology fuels the expansion of the GPS tracking market.
A Rise in Sales of Commercial Vehicles
The market is expanding due to GPS devices' high durability and the rising use of GPS tracking systems in commercial vehicles. Due to the expansion of the retail sector, GPS monitoring devices identify vehicles that utilize GPS to track their precise location. This increases the requirement for tracking to ensure worker safety and productivity.
Thus, GPS technology is widely used in business cars, due to which the market for GPS tracking systems is growing along with the increase in commercial vehicle sales. Additionally, it is anticipated that the e-commerce sector's increased penetration will increase the demand for GPS tracking systems in light commercial vehicles.
Increased Use of Digital Maps
Due to the rising number of internet customers and the increased usage of smartphones and other portable devices for internet access, the digital map industry is undergoing disruptive growth. As a result, the market for GPS tracking devices is growing due to the increase in the adoption of digital maps.
Digital map systems are typically incorporated in self-driving automobiles for navigation and route planning. The primary reasons driving the growth of the GPS tracking market include new digital map trends like 3D maps and simplicity of understanding and locating a location.
Real-time tracking, time efficiency, and precision are made possible by GPS devices, which boosts their marketability. They are small in size, simple to handle, and well utilized to track the object or person.
The Prime AT 2G GPS Tracker, which is used for various applications such as vehicle tracking or asset tracking with the ability to live tracking for a few seconds when moving but switch off when the tracker stops, was introduced by BlueTrack, a manufacturer of GPS tracking devices, in 2022.
Market Trends & Developments
- Increase Outdoor Application
- Rise In Technological Development
- Government Initiatives
- Lower Cost
- Rising Investment
Market Dynamics
Drivers
- Growing Demand for Cloud and Iot Technologies
- A rise in Sales of Commercial Vehicles
- Increased Use Of Digital Maps
Challenges
- Poor User Experience
- Reduced accuracy of the devices
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Europe GPS Tracking Device market.
- Verizon Wireless
- Concox Information Technology Co. Ltd.
- Calamp Corp.
- Orbocomm Inc.
- Sierra Wireless Inc.
- Atrack Technology Inc.
- Tomtom International
- Spy tech Inc.
- Queclink Wireless Solutions Co. Ltd.
- Laipac Technology Inc.
Report Scope:
Europe GPS Tracking Device Market, By Technology:
- Standalone Trackers
- Convert Trackers
- Advance Trackers
Europe GPS Tracking Device Market, By Network:
- 3G
- 4G
Europe GPS Tracking Device Market, By Product Type:
- Handheld
- Mounted
Europe GPS Tracking Device Market, By Type:
- Data Loggers
- Data Pushers
- Data Pullers
Europe GPS Tracking Device Market, By End User:
- Automotive
- Aerospace & Defense
- Healthcare
- Others
Europe GPS Tracking Device Market, By Country:
- Germany
- United Kingdom
- Italy
- France
- Spain
- Netherlands
- Poland
- Russia
For more information about this report visit https://www.researchandmarkets.com/r/dosz09
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