Global Wireless Car GPS Trackers Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Wireless Car GPS Trackers Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

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 Overview:

The latest research study on the global Wireless Car GPS Trackers market finds that the global Wireless Car GPS Trackers market reached a value of USD 721.76 million in 2022. It’s expected that the market will achieve USD 1757.28 million by 2028, exhibiting a CAGR of 15.99% during the forecast period.

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.

Key Companies in the global Wireless Car GPS Trackers market covered in Chapter 3:

Queclink
TKSTAR
Concox Information Technology
AUTOPMALL
Meitrack
Teltonika
Shenzhen Coban Electronics
ARKNAV
VJOY CAR ELECTRONICS LIMITED
Trackimo

In Chapter 4 and Chapter 14.2, on the basis of types, the Wireless Car GPS Trackers market from 2018 to 2029 is primarily split into:

Commercial Vehicle
Passenger Car

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Wireless Car GPS Trackers market from 2018 to 2029 covers:

Fleet Management
Asset Management

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)