NEW
YORK, June 6, 2024 /PRNewswire/ -- The global
smart tracker market size is estimated to grow by
USD 572.8 million from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 9.75% during the forecast period. The smart
tracker market is driven by the demand for durable and rugged
devices. Manufacturers address this need by using metal in their
designs and ensuring IP43 water resistance. Tile's Pro Series, for
example, boasts IP68 waterproofing. These durability features match
customer requirements, fostering market growth during the forecast
period.
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the snapshot
of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Consumer
products, Pets, and Luggage), Technology (Bluetooth, Cellular
technology, and GPS), and Geography (North America, Europe, APAC,
South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Adero Inc., Beijing
Zizai Technology Co. Ltd., Chipolo doo, Elios Inc., Findster
Technologies SA, Innova Technology LLC, Kaltio Technologies Oy,
Lugloc Inc., Mars Inc., PB Inc., Pitpatpet Ltd., Qorvo Inc.,
Samsung Electronics Co. Ltd., Smart Tracking Technologies LLC, Tago
LLC, Tile Inc., Traxbean Technology Ltd. Co., Wistiki SAS, and XY
The Persistent Co.
|
Key Market Trends Fueling Growth
The Smart Tracker market is experiencing significant growth with
technologies like GPS and Bluetooth leading the way. Technologies
enable real-time location tracking for various applications such as
asset management, personal safety, and pet tracking. Smartphones
and wearable devices are popular platforms for these trackers. The
trend towards connected devices and the Internet of Things (IoT) is
driving innovation in this space.
Devices are becoming more affordable and feature-rich, making
them accessible to a wider audience. Companies are focusing on
developing more accurate and reliable tracking systems to meet
consumer demands. The market is expected to continue growing as
more industries adopt these technologies to improve efficiency and
productivity.
Research report provides comprehensive data on
impact of trend, driver and challenges - Download a
Sample Report
Market Challenges
- The smart tracker market faces significant challenges,
primarily due to the poor battery life and limited functionality of
devices. Tile, a leading brand, offers non-replaceable batteries,
while others like Slightech and TrackR have replaceable batteries.
Additional features can decrease battery life to a month.
Manufacturers must address these issues to enhance product value
and potentially hinder market growth during the forecast
period.
- The Smart Tracker market faces several challenges in the
technological landscape. Devices and technologies, such as GPS,
cellular, and Bluetooth, play crucial roles in this industry.
However, ensuring security and privacy in these devices is a
significant challenge. Additionally, the integration of various
technologies and the development of user-friendly interfaces are
essential for market growth.
- Furthermore, the competition from established players and new
entrants, as well as the need for cost-effective solutions, pose
additional challenges. The market also requires regulatory
compliance and adherence to industry standards. Lastly, the
market's success depends on the ability to provide accurate and
reliable tracking services, making technology advancements and
innovation vital.
For more insights- Download a Sample
Report
Segment Overview
- Application
- 1.1 Consumer products
- 1.2 Pets
- 1.3 Luggage
- Technology
- 2.1 Bluetooth
- 2.2 Cellular technology
- 2.3 GPS
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Consumer products- The market for
Bluetooth, cellular technology, and GPS-connected smart trackers is
gaining traction, offering consumers an efficient solution for
locating misplaced items such as accessories, valuables, and small
household objects. These devices are particularly beneficial for
disorganized individuals and parents seeking to monitor their
children's whereabouts. Despite limited market awareness, Technavio
anticipates increased demand due to improving consumer
understanding and the latest reverse smartphone tracking
functionality.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Smart Tracker Market encompasses cutting-edge technologies
such as Sensor Technologies, Bluetooth, GPS, and UWB, which are
integral to the functionality of these devices. These technologies
find extensive applications in various industries, including
Logistics and Supply Chain Management, the Fitness Industry, and
the Pet Care sector. Smart Trackers, enabled by IoT, are
transforming the way we manage and monitor essential items like
purses, wallets, keys, bags, and even pets.
With the widespread adoption of wearable technology and
smartphones, the market for these tracking devices is poised for
significant growth. Cellular and Bluetooth connectivity, along with
advanced features like GPS and UWB, enhance the capabilities of
these devices, making them indispensable tools for individuals and
businesses alike.
Market Research Overview
The Smart Tracker Market encompasses innovative technologies and
solutions designed for locating and monitoring objects or
individuals in real-time. These devices utilize various
technologies such as GPS, Bluetooth, Wi-Fi, and cellular
connectivity to provide accurate and reliable tracking. The market
is witnessing significant growth due to the increasing demand for
asset protection, personal safety, and logistics management.
Additionally, the integration of artificial intelligence and
machine learning algorithms is enabling advanced features like
predictive analytics and real-time alerts. The market is segmented
based on technology, application, and end-user industry. The major
applications include asset tracking, personal safety, and logistics
management. The end-user industries include transportation,
healthcare, retail, and construction. The market is expected to
continue its growth trajectory due to the increasing need for
real-time monitoring and location-based services.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Consumer Products
- Pets
- Luggage
- Technology
-
- Bluetooth
- Cellular Technology
- GPS
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio