GPS tracking device market expected to grow 2017 to 2023

June 27, 2017  - By

The GPS tracking device market is expected to exhibit significant growth potential between 2017 and 2023, according to a new report by Research and Markets.

The key driving factors for the growth of the GPS tracking device market include the increase in sales of commercial vehicles, smaller size, affordable price and high return on investment. Moreover, the advent of cellular technology reduced the service cost, while the decline in GNSS/GPS IC makes inroads in cellphone that provide the scale of economies to GNSS/GPS module supplier.

The report is titled GPS Tracking Device Market by Type, Deployment Type, Industry & Geography – Global Forecast to 2023.

Other findings:

  • Transportation and logistics to hold the largest share of the overall GPS tracking device market.
  • APAC will be the fastest-growing market for GPS tracking device during the forecast period.

Learn more here.

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1 Comment on "GPS tracking device market expected to grow 2017 to 2023"

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  1. William K. says:

    Certainly, an announcement like this will cause share prices to rise a bit. Now it is indeed probable that the demand for GPS tracking devices will indeed increase, but what possible benefit does announcing that have other than boosting share prices? Do the present producers of these devices want to encourage more competitors to enter the field? I would guess not.