$3.9 Billion Worldwide GPS Tracking Devices Industry to 2027 - Impact of COVID-19 on the Market
Thursday, August 13, 2020
DUBLIN, Aug. 5, 2020 /PRNewswire/ -- The "GPS Tracking Devices - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
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The publisher brings years of research experience to the 7th edition of this report. The 170-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global GPS Tracking Devices Market to Reach $3.9 Billion by 2027
Amid the COVID-19 crisis, the global market for GPS Tracking Devices estimated at US$1.7 Billion in the year 2020, is projected to reach a revised size of US$3.9 Billion by 2027, growing at a CAGR of 12.1% over the analysis period 2020-2027.
Standalone Tracker, one of the segments analyzed in the report, is projected to record a 11.2% CAGR and reach US$1.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the OBD Device segment is readjusted to a revised 12.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $511.9 Million, While China is Forecast to Grow at 11.7% CAGR
The GPS Tracking Devices market in the U.S. is estimated at US$511.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$680.1 Million by the year 2027 trailing a CAGR of 11.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.7% and 10.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR.
Advance Tracker Segment to Record 13.2% CAGR
In the global Advance Tracker segment, USA, Canada, Japan, China and Europe will drive the 13% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$374.9 Million in the year 2020 will reach a projected size of US$884.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$460.5 Million by the year 2027.
Competitors identified in this market include, among others:
-- Atrack Technology Inc.
-- CalAmp Corporation
-- Geotab, Inc.
-- Laird PLC
-- Maestro Wireless Solutions Ltd.
-- Meitrack Group
-- Orbocomm Inc.
-- Queclink Wireless Solutions Co., Ltd.
-- Ruptela, UAB
-- Shenzhen Coban Electronics Co., Ltd.
-- Shenzhen Concox Information Technology Co., Ltd.
-- Sierra Wireless, Inc.
-- Teltonika UAB
-- TomTom International BV
-- Trackimo LLC.
-- Xirgo Technologies
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
-- Global Competitor Market Shares
-- GPS Tracking Device Competitor Market Share Scenario Worldwide (in %):
2019 & 2025
-- Impact of COVID-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Total Companies Profiled: 38
For more information about this report visit https://www.researchandmarkets.com/r/r9brv
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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Research and Markets
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SOURCE Research and Markets
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