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(IT-NEWSWIRE.COM, October 31, 2018 ) The Global GPS Tracking Device Market was valued at USD 1.28 billion in 2016 and is projected to reach USD 3.81 billion by 2025, growing at a CAGR of 12.89% from 2017 to 2025.
A GPS tracking unit is a device by which an individual can track as well as determine their location as well as map out the path by which they are meant to follow. This device is used usually by a moving individual or vehicle and provides an accurate route to the desired location. In recent times, the usage for GPS systems has boosted as the services implantation is now being done in several devices, not only devices that are used primarily for the GPS usage, but also mobile phones. The system works by using the satellite system in order to track the location of the user and then route their maps.
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GPS devices, according to their type, can provide various types of information in addition to the location and route of the individual. These services include vehicle speed, predicted the time at which the user will arrive at their chosen destination as well as warnings for areas with increased traffic. Factors that are driving the market for the GPS tracking device is the efficiency of the device, less money needed for fuel, greater safety for individuals in the society and the increasing incorporation of this system into devices such as mobile phones.
The “Global GPS Tracking Device Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Sierra Wireless, Inc., Queclink Wireless Solutions Co , Ltd, Laird PLC., Meitrack Group, Atrack Technology Inc., Geotab Inc., Trackimo LLC, Calamp Corporation, Orbocomm Inc., Shenzhen Concox Information Technology Co., Ltd, Tomtom International Bv, Teltonika UAB. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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