Market Highlights
The improvement in tracking advancements is projected to spike the position tracking system market 2020. The global market report on the position tracking system market uncovers an appropriate development design for the market where it would be supported by the rising interest for better armada management and transportation. Climb in the utilization of the web of things (IoT), computerization, better advances, interest for consideration of GPS tracking system, and others are relied upon to reinforce the development of the position tracking system market, which can be inferred from the report distributed by Market Research Future (MRFR). It would likewise profit from the rising oceanic movement.
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Segmentation:
The global market report on the position tracking system market has been segmented by connectivity, type, technology, component, and application. This segmentation creates a scope for a study on the basis of various factors and dynamics, which would help in forming a strategy for the market.
By component, the position tracking system market has been segmented into hardware and software. The hardware segment includes a proper study of sensors, display, capacitors, resistors, battery, and diodes.
By connectivity, the report on the position tracking system market reveals a proper understanding of wired and wireless.
By technology, the discussion on the global position tracking system market includes a study of GPS, GIS, RFID, WLAN, internet tracking, and others.
By type, the study on the global position tracking system market includes a proper analysis of indoor tracking and outdoor tracking.
By application, the market has been studied on the basis of vehicle tracking, maritime, telemetric, fleet analytics, and industrial.
Regional Analysis:
In North America and Europe, this growth is quite easy as it would be backed by structural superiority, funding for research, better inclusion of top-class technology, and easy acceptance of the latest models. In Asia Pacific, the burgeoning automotive sector would boost the market.
Competitive Landscape:
The global market report on position tracking system market includes a discussion on the recent changes made by companies like Position Tracking Systems (U.S.), GPATS (U.S.), Advanced Realtime Tracking (Germany), Kongsberg Maritime (Norway), Rilapp Technologies (India), Inmotio (Amsterdam), Axestrack (U.S.), Trinetra Technologies (India), and Cisco Systems, Inc (U.S.). These companies have developed stands by implementing various strategic moves and it can inspire changes in the coming days.
Industry News:
The recent revelations in the market have led to news that Apple has filed a patent for location-tracking tag devices, called "Apple Tags" or "AirTags.” The recent leaks on the said topic have also elaborately discussed how the product is going to function. The company has applied for patents for "Multi-Interface Transponder Device - Altering Power Modes" and "Multi-Interface Transponder Device - Power Management" with the U.S. Patent and Trademark Office where along with other handsets and tools. The filings put special emphasis on the operational aspects of a multi-interface transponder (MIT) device that covers connectivity, communication with various nearby electronics, power affordances, and others.
In August 2020, the Government of Nepal announced that all the public vehicles in Nepal will now include a Global Positioning System (GPS) tracking. This will be in effect from the ongoing financial year. The Government is launching this move to effectively manage public vehicles and reduce the number of accidents happening in Nepal. The Department of Transport Management is expected to complete the agreement once it completes the evaluation of all tenders.
The global COVID-19 pandemic revealed that the market could find the situation adverse for some time as the production and supply chain got badly hit by the crisis. However, government efforts to bring back normalcy is laudable, which can bolster the market growth.
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Global Position Tracking System Market Research Report: By Component (Hardware, Software), Connectivity (Wired, Wireless), Technology (RFID, GPS, GIS, WLAN), Type (Indoor, Outdoor), Application (Maritime, Industrial, telemetric) – Forecast till 2027
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Position tracking system detects the current position of an object or person with the help of special sensors or markers.
The position tracking system market has seen exponential growth over the past years, and Market Research Future (MRFR) projects burgeoning growth over the forecast period 2017-2023.
Numerous factors are fueling the growth of position tracking system market.
Government authorities have largely identified the benefits of position tracking system and a regulatory push for more tracking and traceability have supported the growth of the market.
The need for ubiquitous connectivity, surging trend of deploying position tracking in fleet management, real-time bus, and car tracking, and vehicle tracking, increased use of position tracking systems in the marine industry, growing usage of internet and smartphones equipped with GPS are aiding the expansion of the market.
Data privacy concerns and lack of experts in the field are considered as the main factors which are impeding the market growth.The global position tracking system market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Position tracking system detects the current position of an object or person with the help of special sensors or markers.
The position tracking system market has seen exponential growth over the past years, and Market Research Future (MRFR) projects burgeoning growth over the forecast period 2017-2023.
Tracking devices are no more an added advantage; rather it is more of a management tool which more and more industries are employing for business advantage.
Numerous factors are fueling the growth of position tracking system market.
The expenses were pushed down due to rising trend of adoption of position tracking systems across various industry verticals.Government authorities have largely identified the benefits of position tracking system and a regulatory push for more tracking and traceability have supported the growth of the market.
The need for ubiquitous connectivity, surging trend of deploying position tracking in fleet management, real-time bus, and car tracking, and vehicle tracking, increased use of position tracking systems in the marine industry, growing usage of internet and smartphones equipped with GPS are aiding the expansion of the market.
