Smart Tracker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Smart Tracker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global smart tracker market size reached US$ 493.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 988.8 Million by 2028, exhibiting a growth rate (CAGR) of 11.6% during 2023-2028.

Smart trackers are electronic devices incorporated into specific equipment and household appliances, including vehicles, head-mounted displays, smart jewelry, implantable devices, fitness wearables, and smartwatches. They consist of sensors, embedded accumulators, internal storage, and microprocessors to receive and track real-time data. Smart trackers utilize technologies such as cellular networks, Bluetooth, and global positioning systems (GPS) to record information. They assist in monitoring human activity, including walking, running, sleep quality, and heart rate, locating the user, documenting and file tracking, improving fleet performance, and measuring vehicle utilization.

Smart Tracker Market Trends:
Significant growth in the healthcare industry across the globe is creating a positive outlook for the market. Smart trackers are widely used in health and fitness devices to monitor patients’ health, sleep pattern, blood oxygen, blood pressure, and heart rate. Additionally, the extensive product assimilation in smart devices to enhance their usability and provide a quality experience to users through data collection and analysis is favoring the market growth. Apart from this, the incorporation of smart trackers in personal computers (PCs) and laptops to enable location tracking during theft and misplacement is providing a considerable boost to the market growth. Furthermore, the introduction of miniaturized smart trackers that are easy to install in pacemakers, cellphones, smartwatches, computers, wearable devices, and defibrillators is positively influencing the market growth. Besides this, smart tracker vendors are launching innovative product variants with intuitive and advanced features, such as virtual assistance, voice recognition, and artificial intelligence (AI)-based sensors, which is propelling the market growth. Other factors, including the increasing digitalization, widespread product adoption in smart homes, and rising expenditure capacities of consumers, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart tracker market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology and application.

Breakup by Technology:

Cellular
Bluetooth
GPS
UWB

Breakup by Application:

Consumer Products
Pets
Luggage
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Chipolo, Findster, iKON Tracker, Kaltio Technologies, Link AKC, Lugloc, Pebblebee, PitPatPet Inc, ThinkRace Technology Co. Ltd. and Tile Inc. (Life360 Inc.).

Key Questions Answered in This Report:
How has the global smart tracker market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global smart tracker market?
What are the key regional markets?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global smart tracker market and who are the key players?
What is the degree of competition in the industry?