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Market Overview of Global Wireless Car GPS Trackers market:
According to our latest research, the global Wireless Car GPS Trackers market looks promising in the next 5 years. As of 2022, the global Wireless Car GPS Trackers market was estimated at USD 721.76 million, and it's anticipated to reach USD 1757.28 million in 2028, with a CAGR of 15.99% during the forecast years.
Car GPS Trackers is a kind of equipment used to remotely monitor the position of cars. The device sends the data to the GPS satellite, which then forwards the information to the application or phone number connected by the device owner. The report mainly studies the global Wireless Car GPS Trackers market.
Market Challenges
Product homogenization means that in the same industry, products of different brands are similar in function, appearance, production process and transmission content. Since the e-commerce channel was opened, most Wireless Car GPS Trackers manufacturers tend to reduce the production cost by imitation in order to pursue higher market share. Imitation production leads to serious homogenization of products in Wireless Car GPS Trackers industry, and the phenomenon that bad money drives out good money is obvious: the similarity in appearance is extremely high; In terms of performance, most Wireless Car GPS Trackers products pursue the characteristics of accurate positioning, high speed, stable performance and real-time positioning. Some small and medium-sized enterprises have weak awareness of intellectual property protection, and a large number of infringements will disrupt the market order, which is not conducive to the sound development of the industry.
With the development of internet and the rise of e-commerce, the product price, product category and product function of Wireless Car GPS Trackers tend to be transparent. Before buying Wireless Car GPS Trackers, consumers can obtain a large amount of information through network channels, and their autonomy is gradually enhanced. The homogenization of Wireless Car GPS Trackers products is serious, and the price becomes an important measure when consumers choose products. Based on the above reasons, low-price competition has gradually become an important means for Wireless Car GPS Trackers to compete for market share. The phenomenon of low-price competition forces more enterprises to be involved in price wars, and in this process, small and medium-sized enterprises with weak financial strength are more likely to be eliminated by the market. In order to stabilize the market foundation and maintain the profit level of enterprises, Wireless Car GPS Trackers enterprises usually take the following measures: small profits but quick turnover: directly reduce the price of goods to improve the price advantage of products, and then drive the sales of products to increase, relying on product sales to ensure the profits of enterprises; Reduce labor costs: hire cheap labor and extend labor hours to reduce labor costs; Reducing production costs: including reducing raw material costs and production procedures. Reducing raw material costs can be achieved by reducing raw material quality, and reducing production procedures can be achieved by reducing product functions. All of the above methods have drawbacks, because small profits but quick turnover can easily lead to a vicious circle, which requires the financial strength and production capacity of enterprises. At present, labor costs tend to rise, and reducing labor costs in enterprises will affect the stability of employees. Reducing the cost of raw materials will directly lead to the decline of product quality, which is not conducive to the accumulation of product reputation. Therefore, low-price competition has a high degree of damage to enterprises in terms of capital, labor and word of mouth, which is not conducive to the long-term development of enterprises, and then affects the healthy and orderly development of the industry.
Region Overview:
From 2023-2028, Europe is estimated to witness robust growth prospects.
Company Overview:
The top three companies are Concox Information Technology, Queclink, Teltonika with the revenue market share of 2.26%, 2.20%, 1.92% in 2020.
Concox Information Technology Co., Ltd., incorporated for over 15 years, has become a leading designer and manufacturer of telematics and wireless communications products, dedicates to bringing reliable products and customized solutions to clients across the world.
Queclink is a leading supplier of wireless machine-to-machine (M2M) devices and solutions. Queclink brings together an experienced team from both the wireless module industry and service operator side, for a complete understanding of the M2M business. company offer ready-made products for automotive tracking, fleet management, tracking & tracing, lone worker safety, mobile health care, remote monitoring and control of any assets, and wireless alarms to cover most popular applications via the Internet. Owing to the dedicated engineers who have extensive experience with 2G & 3G, GPS, Bluetooth, WiFi, RFID& NFC and other wireless connectivity, and the international customer support team, we ensure that the products are integrated in a smooth and timely manner for your business.
Segmentation Overview:
Among different product types, Commercial Vehicle segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Asset Management segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Wireless Car GPS Trackers market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Wireless Car GPS Trackers Market Report:
Market Size Estimates: Wireless Car GPS Trackers market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Wireless Car GPS Trackers market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Wireless Car GPS Trackers market
Segment Market Analysis: Wireless Car GPS Trackers market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Wireless Car GPS Trackers market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Wireless Car GPS Trackers Market: Revenue and sales volume of major countries in each region
Wireless Car GPS Trackers Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Wireless Car GPS Trackers market in major regions.
Wireless Car GPS Trackers Industry Value Chain: Wireless Car GPS Trackers market raw materials & suppliers, manufacturing process, distributors, downstream customers
Wireless Car GPS Trackers Industry News, Policies & Regulations
Key players in the global Wireless Car GPS Trackers market are covered in Chapter 12:
ARKNAV
Trackimo
TKSTAR
Concox Information Technology
AUTOPMALL
Queclink
VJOY CAR ELECTRONICS LIMITED
Meitrack
Teltonika
Shenzhen Coban Electronics
In Chapter 2 and Chapter 15.1, based on types, the Wireless Car GPS Trackers market from 2018 to 2028 is primarily split into:
Commercial Vehicle
Passenger Car
In Chapter 3 and Chapter 15.2, based on applications, the Wireless Car GPS Trackers market from 2018 to 2028 covers:
Fleet Management
Asset Management
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Wireless Car GPS Trackers market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028