Tech market holds up GPS tracking devices on the run!!
The worldwide Global Positioning System has evolved as the highly used technology trend in the past decade. The current market of GPS trackers has tremendously grown due to an arise in the need of these devices in almost all industries ranging from small start-ups to giant corporates. As per the global market survey, the GPS tracker devices have witnessed a revenue of USD 1.28 billion till the last 2016 and is expected to hit a higher rate of about USD 3.81 billion by the end of 2025. 12.9% is said to be the calculated average Compound Annual Growth Rate of the revenue. Factors Influencing the rise Logistics & shipping Recent years, there is an ascend in the mode of transport used for the commercial activities and ecommerce. Fleet management as a result is critical and hence GPS trackers come into picture to provide better solution. From exporting, until the time of importing the goods on delivery, every movement is recorded. GPS devices, also cut costs an...