In order to pinpoint the precise location of the assets, GPS tracking devices are used to monitor the movements of people and vehicles. The tracking device stores this data, which is then sent to a central location database using an embedded satellite modem, radio, or cellular device. A group of satellites known as the global positioning system (GPS) enables exact positioning, navigation, and timing (PNT) measurements all over the world. Since it was one of the first satellite positioning systems, GPS has grown to be a crucial tool for international business. A person, vehicle, or piece of equipment can be accurately located with the help of GPS. GPS tracking devices broadcast satellite signals that are decoded by a receiver.
The
main drivers of the GPS Tracker Market are an increase in demand for IoT and cloud technology
as well as an increase in sales of commercial vehicles. A large number of
well-established competitors are present in the global market for GPS tracking
devices, which is advantageous. Vendors of GPS tracking device technologies are
anticipated to surpass their competitors due to their extensive financial and
technical resources and ability to meet consumer demand.
The
GPS tracker was developed using cutting-edge technology, including IoT and
cloud computing, to enable it to serve various functions. The electronics
and internet connectivity of GPS Tracker Market turn them into
intelligent objects and devices that can connect to the cloud, be remotely
controlled, and communicate with one another.
The
GPS
Tracker Market is expanding due to the robustness of GPS
devices and their rising use in commercial vehicle tracking systems. GPS
tracking devices can identify vehicles that use GPS to determine their location
as the retail industry expands. This enhances the tracking of necessities for the
sake of effectiveness and security. As a result, a lot of commercial vehicles
have GPS systems. Sales of commercial vehicles increase as a result,
stimulating the GPS tracking device market.
Key Players
Orbcomm Inc., Laird PLC,
Teltonika UAB, Geotab Inc., Sierra Wireless, Inc., Queclink Wireless Solutions
Co., Ltd, Tomtom International Bv, Rilapp Technology Inc., Calamp Corporation,
and Shenzhen Concox Information Technology Co. are major players in the global
tracker GPS market.
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