Operations of production and manufacturing industries have been heavily impacted by the outbreak of COVID-19, which led to slowdown in growth of the GPS tracking device industry in 2020.Īccording to the GPS tracking device market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries. European countries under lockdown have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. It is creating uncertainty in the stock market, falling business confidence, massive slowing of supply chain, and increase in panic among customers. The impact of this outbreak is growing day-by-day as well as affecting the supply chain. The COVID-19 pandemic is impacting the society and overall economy across the globe. The opportunity lies in increase in awareness for need of GPS, developments in automotive sector, and transportation issues in the developing countries. The key factors that hamper the GPS tracking device market growth are low awareness among small scale manufactures and competition from uninterrupted and non-fluctuating power supply systems. Get more information on this report : Request Sample Pages Furthermore, rise in usage of digital map and surge in advancements and upgradation of software used in GPS tracking devices are expected to offer lucrative opportunities for the growth of the global GPS tracking device market. However, impact of nonstandard products and several environmental factors leading to poor user experience are expected to pose major threats for the GPS tracking device market. The key factors that drive the growth of the GPS tracking device market include increase in demand for IoT and cloud technology and surge in commercial vehicle sales. The emergence of COVID 19 has declined the growth of GPS Tracking Device market in 2020 and is estimated to witness slow growth till the end of 2021 due to implementation of partial and complete lockdown across various countries globally as it has impacted the manufacturing and industrial sector. GPS tracking devices are used in vehicles, mining, agriculture, and others. GPS establishes a person or object’s location on Earth with astonishing precision. GPS tracking device is a navigation device used for tracking a vehicle, object or a person. The global GPS tracking device market size was valued at $1.78 billion in 2020, and is projected to reach $4.93 billion by 2028, registering a CAGR of 12.3% from 2021 to 2028. In industries such as automobile leasing, logistics, and others, our GPS monitoring system can provide unified oversight of these cars, save fuel and other operational expenses for the fleet, and boost staff productivity.GPS Tracking Device Market Outlook – 2028 Our GPS Tracking System (WhatsGPS) works worldwide and serves customers in over 100 countries and regions. Well-supported, accurate, and stable GPS tracking system.Simply stick it to your vehicle’s flat magnetic metal surface and it’s good to use. The dimensions of this mini multi-functional GPS tracker are L60.0mm*W31.0mm*H19.0mm. This mini wireless tracker comes with G-Sensor functions, which measure the G value of axis X, Y or Z exceeds the thresholds set by users and the alarm will be sent to backend CMS software. This small GPS security tracker comes with audio monitoring along with real-time GPS tracking, allowing you to hear what’s happening in the vehicles. Our tracking system generates reports that allow you to see how many trips you’ve taken, how fast you went, how many stops you made, and more. ![]() When your vehicle is over-speed or your car’s attitude has changed, you will receive an alert. This portable magnetic car GPS tracking locator features vibration, over speed, low power, and tamper alarms.
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