The global positioning system (GPS) equipment market be made up of sales of global positioning systems apparatus and related services for formative the ground position of an object during GPS satellites. GPS is a satellite navigation system which transmits specific signals that permits GPS equipment to decode and amount the exact position of the satellite.
According to the study, ‘GPS Equipment Global Market Report 2020-30: Covid 19 Impact and Recovery’ definite that there are quite an heap of key players that at this section active additional with accomplishment for sticking out the leading operative enlargement of the market and attaining the ingenious competitive edge all the same acceptive the innovative profitable ways at intermissions throughout the course of that and guidelines like joint ventures, mergers and acquisitions, organisation, unification and produce development includes Calamp Corporation, Sierra Wireless, Inc., Orbocomm Inc., Queclink Wireless Solutions Co., Ltd, Laird PLC., Tomtom International Bv, Concox Wireless Solution, Xirgo Technologies, Inc., Shenzhen Concox Information Technology Co. Ltd. and Maestro Wireless Solutions. The software combined with GPS trackers has industrialised quickly. The usage of advanced software can provide real time data on an exact location. The advanced software has helped enhance mapping capabilities and the capability to integrate with resources like Google Earth and predictive diagnosis. However, Security threat within GPS tracking applications is predictable to hinder the expansion of the market. Hackers can interfere with the signals from GPS equipment and take benefit of the vehicle within ways unimaginable. The signals could be jammed throughout the transmission. The vulnerability of GPS will permit a hacker to track the locations of thousands of vehicles and even substituting the engines off while they are within motion causing a complication.
Based on product type GPS equipment market in separated into data loggers, data pushers, data pullers, and covert GPS trackers. It is in addition deliberated by end-use industry into transportation & logistics, construction, oil & gas, metals & mining, government, others (hospitality, education, retail, agriculture, and healthcare). Based on application it is divided into road, aviation, marine, location-based services, surveying and mapping, others.
The countries covered in the global GPS equipment market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. Japan is predictable to be the maximum market share as a result of existence of a good number of customers inside the region. Whereas, South Korea is in accumulation probable to be the determined expansion rate within the forecast period 2020-2030.
Additionally, augmented usage of GPS tracking devices in commercial vehicles subsidized to the expansion of the GPS equipment market. GPS tracking devices assistance in monitoring commercial vehicles like trucks, buses, heavy commercial vehicles, and construction vehicles. Concluded monitoring and handling these vehicles within real time with GPS trackers, corporations can get real time updates, optimize routes, upsurge efficiency, and progress fuel effectiveness among others. Businesses are progressively using GPS for tracking vehicles and will have an edge over their competitors within giving a better consumer experience. Therefore, the usage of GPS equipment in commercial vehicles is a key factor prominent to the development of the GPS equipment market.
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Ankur Gupta, Head Marketing & Communications