The rise of space infrastructures or what’s commonly known as the US brand Global Positioning System (GPS) significantly influenced businesses by allowing people to view appropriate routes to efficiently reach destinations. Significantly, it is more beneficial to the transportation and logistics sectors as it can track vehicles for reliable and transparent services. In particular, a GPS vehicle tracking system provides a convenient driving experience to guide transporters to precise routes while avoiding wasted mileage, fuel, and time. And consequently, it increases the productivity and profitability of any business that uses vehicles to provide services to its customers or clients.
Based on the research of Report Ocean, the escalating need for improving business operations, real-time fleet monitoring, and firm enforcement of the legislation for guaranteeing the safety of the vehicles will enhance business operations from the period 2019 to 2027. Accordingly, the Global GPS Tracking Device Market is predicted to reach $4.6 billion by the end of the year 2025 while the GPS Tracking Device industry is predicted to grow at a CAGR of 12.2% during the period 2019-2025.