The position tracking system market isn’t just growing, it is accelerating. Position tracking system allows tracking the current position of an object or a person through sensors and technologies being implemented. GPATS, Position Tracking Systems, Kongsberg Maritime and Advanced Real-time Tracking are a few major players in the global position tracking system market.
Growing demand for indoor position tracking system from retailers and other industry verticals is set to drive the growth of the position tracking system market. Increasing traction of vehicle tracking and fleet analytics are some of the major factors driving the growth of position tracking system market. Additionally, extensive use of position tracking systems in marine applications is responsible for fueling the market growth.
The global positioning system technology sub-segment of the market is expected to hold the largest market share, whereas, internet tracking sub-segment is expected to grow at the highest rate during the forecast period owing to the increasing implementation of internet tracking applications in smartphones and other mobile devices. Moreover, the growing trend of wireless connectivity across different mobile devices is one of the major factor driving the growth of Position Tracking System Market.
The growth of the market is also attributed to increasing focus on business organizations towards maintaining security and growing adoption of global positioning services by the automotive sector. In the global position tracking system market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing implementation of global positioning systems and internet tracking in order to ensure better connectivity and improved safety across different countries in the region.
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Major Key Players:
• GPATS (U.S.)
• Position Tracking Systems (U.S.)
• Kongsberg Maritime (Norway)
• Advanced Realtime Tracking (Germany)
• Inmotio (Amsterdam)
• Rilapp Technologies (India)
• Trinetra Technologies (India)
• Axestrack (U.S.)
• Cisco Ssytems, Inc (U.S.)
Position Tracking System Market Segmentation:
The global position tracking system market is segmented on the basis of the component, connectivity, technology, type, and application. However, the component segment is classified into hardware and software.
The hardware segment is further classified into the display, sensors, battery, capacitors, resistors, and diodes. Increasing demand for various sensors across different automotive applications is boosting the growth of position tracking system market. Growing demand for improved communication technologies and increased safety are major factors driving the market growth.
Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The market in North America is witnessing a rapid growth due to technological advancements and increasing demand for outdoor as well as indoor position tracking system across different industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue as well as owing to the extensive use of global positioning systems across different applications.
The global position tracking system market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas the Asia Pacific is projected to grow at the fastest rate during the forecast period.
The growth of the market in North America is attributed to technological advancements and increased adoption of indoor as well as outdoor position tracking system applications across various industry verticals.
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• Technology Investors
• Research/Consultancy Firms
• Government Bodies
• Position Tracking System Solution Vendors
• Position Tracking System Providers
• Information Technology Developers
• Third-Party Vendors
• Internet Service Providers
• Technology Providers
• System Integrators
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