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.
COVID-19 Impact Analysis
Since the SARS-CoV-2 outbreak, several companies have had to face tough decisions, with respect to financial decisions and cost-cutting measures that ensure uninterrupted flow of operations. The lockdown situation has been the short term impact of the pandemic, which has led to a weaker demand from the hyperscale cloud service and smartphone providers. The plummeting demand has had a domino effect in the semiconductor industry, with the falling prices and vendors pulling back their current fab plans. COVID-19 outbreak has also led to shutting down of operations, e-commerce and retail stores, resulting in supply chains collapsing and creating a bigger gap between the demand and supply ratio.
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GPS Tracking DeviceMarketAnalysis Regional Classification
The GPS Tracking Devicemarket has gained global adoption due to rising demands for precision tools, expansion of industries, and demand for better technologies. The global GPS Tracking Devicemarket is divided into North America, the Asia Pacific, Europe, and the rest of the world. The European region is currently leading the market due to the well established industrial sector, demands for smart alternates, demands for new technologies, and other factors. The Asia Pacific region is the fastest-growing market due to the fast expansion of major industries, the rapid development of economies, the rise of demand for better technologies, and other factors.
GPS Tracking Device Market Demand Growing Rapidly with Top Manufacturers
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.
GPS Tracking Device Market Segmentation
The global Industry segmented into GPS Tracking Device Market Forecasts 2027 by 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.
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Apart from the uses and features, the global GPS Tracking Devicemarket faces challenges from vendor dependency, security issues, and other factors, which has restrained the global GPS Tracking Devicemarket 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.
By Geography
Asia pacific
Europe
North America
The Middle East and Africa
Latin America
Market Segmentation
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.
Drivers and Restraints
The GPS Tracking Devicemarket is driven by numerous factors such as increasing construction FDI in the Asia Pacific region, and policy reforms and policies that support them. Governments across all regions are observed, their construction sector supported, and created. The emerging economies are the ones that put in various reforms and regulations in particular to fuel their infrastructure growth and the real estate market. Such expansion is slated to increase scaffolding's market growth. The GPS Tracking Device market has constraints such as fluctuating prices of raw materials and slower economic growth, which hinder market development.
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Table of contents:
1 EXECUTIVE SUMMARY
1.1 GLOBAL GPS Tracking Device MARKET, BY COMPONENT
1.2 GLOBAL GPS Tracking Device MARKET, BY ORGANIZATION SIZE
1.3 GLOBAL GPS Tracking Device MARKET, BY DEPLOYMENT
1.4 GLOBAL GPS Tracking Device MARKET, BY END-USERS
1.5 GLOBAL GPS Tracking Device MARKET, BY REGION
2 MARKET INTRODUCTIONS
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
Continued
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