Position Tracking System Market Size


The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Position Tracking System Market Size. The growth sectors of the Position Tracking System Market Size are identified with precision for a better growth perspective.

The global position tracking system market is projected to witness a rapid growth during the forecast period owing to increasing emergence of cloud-based technologies and increasing adoption of artificial intelligence. Moreover, increasing demand for position tracking system solutions across various industry verticals such as retail, manufacturing, healthcare, energy and utilities, government and others is responsible for driving the growth of position tracking system market.

The global position tracking system market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North America market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of the position tracking system market in North America region owing to the presence of a large number of established key players such as GPATS and Position Tracking Systems in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. 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.

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.

Some of the prominent players in the global position tracking system market: 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.), and Cisco Ssytems, Inc (U.S.) (among others.

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.

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Position Tracking System Market Research Report | MRFR
Position Tracking System Market is estimated to grow at Regional CAGR, Position Tracking System…

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