MRFR TECH

  Market Analysis The global  GPS tracker industry  will touch USD 2.72 billion at a 14.42% CAGR in the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. A GPS tracker is a device used for tracking and determining the present location.  The people or moving vehicle mostly uses this device to know the exact current location. Various factors are fuelling the global GPS tracker market demand. As per the recent MRFR market estimates, such factors include the increasing need for fleet management in logistics, growing need for advanced GPS trackers, and the growing awareness of the different benefits of these trackers such as simplified operation, navigation and tracking accuracy, and high compatibility with smartphones, along with removal of employee fraud, better customer service, management of field personnel activity, and reduced labor costs. The additional factors adding market growth include the alluring features of GPS tracking de...

  Market Overview According to Market Research Future (MRFR), the global  market for GPS trackers  is expected to generate significant revenue of USD 2.72 billion at a moderate 14.42% CAGR over the review period (2018 to 2023).  Drivers and Restraints The adoption of a GPS tracking system is observed mainly for safety purposes in transportation, fleet management, patrols, and asset tracking, among others, affects the growth of the global GPS tracker market. The effect of GPS tracker software has enhanced connectivity with precision navigation and tracking, smartphones, and simpler operations. Also, the deployment of GPS trackers to reduce labour costs, enhance customer service, control field staff activities and eradicate employee theft is expected to fuel market growth over the forecast period. The proliferation of cloud technology providing scalable and versatile storage and mobile connectivity along with IoT ‘s prominence is expected to create new possibilities in...