Innovations in Features and Applications Fuel Expansion of the Global Smart Tracker Market

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Nov 07, 2023, 19:30 ET

DUBLIN, Nov. 7, 2023 /PRNewswire/ -- The "Smart Tracker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global smart tracker market has achieved substantial growth, reaching a market size of US$ 493.0 million in 2022. It is projected to continue its upward trajectory, with an expected compound annual growth rate (CAGR) of 11.6% during the forecast period of 2023-2028, eventually reaching a total valuation of US$ 988.8 million.

Key Market Drivers:

Significant Growth in the Healthcare Industry
Integration of Smart Trackers in Various Devices
Introduction of Miniaturized Smart Trackers
Innovation and Advanced Features

Smart trackers are electronic devices integrated into specific equipment and household appliances, such as vehicles, head-mounted displays, smart jewelry, implantable devices, fitness wearables, and smartwatches. They are equipped with 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, facilitating various functions including activity monitoring, location tracking, fleet performance improvement, and vehicle utilization measurement.

Market Trends:

The global smart tracker market is witnessing positive growth primarily due to the significant expansion of the healthcare industry worldwide. Smart trackers are widely employed in health and fitness devices to monitor various health parameters, including sleep patterns, blood oxygen levels, blood pressure, and heart rate. Additionally, their integration into smart devices enhances usability and user experiences by enabling data collection and analysis.

Smart trackers have found applications in personal computers (PCs) and laptops, allowing for location tracking in cases of theft or misplacement. The introduction of miniaturized smart trackers that can be easily installed in a wide range of devices, including pacemakers, cellphones, smartwatches, computers, wearable devices, and defibrillators, is further driving market growth.

Manufacturers are launching innovative smart tracker variants equipped with advanced features like virtual assistance, voice recognition, and artificial intelligence (AI)-based sensors, which are contributing to market expansion. Factors such as increasing digitalization, growing adoption of smart trackers in smart homes, and rising consumer spending capacity are expected to fuel further market growth.

Key Market Segmentation:

Technology:
- Cellular
- Bluetooth
- GPS
- UWB
Application:
- Consumer Products
- Pets
- Luggage
- Others
Region:
- North America
  - United States
  - Canada
- Asia-Pacific
  - China
  - Japan
  - India
  - South Korea
  - Australia
  - Indonesia
- Europe
  - Germany
  - France
  - United Kingdom
  - Italy
  - Spain
  - Russia
- Latin America
  - Brazil
  - Mexico
- Middle East and Africa

Competitive Landscape:

The report offers an extensive analysis of the competitive landscape within the global smart tracker market. It covers various aspects of competition, including market structure, market share among key players, player positioning, top-winning strategies, a competitive dashboard, and company evaluation quadrant. Detailed profiles of major companies such as Chipolo, Findster, iKON Tracker, Kaltio Technologies, Link AKC, Lugloc, Pebblebee, PitPatPet Inc, ThinkRace Technology Co. Ltd., and Tile Inc. (Life360 Inc.) are also included in the report.

Key Questions Answered in This Report:

How has the global smart tracker market performed to date, and what are the growth prospects?
What impact has COVID-19 had on the global smart tracker market?
Which regions hold the most potential in the market?
What is the market breakdown by technology and application?
How is the healthcare industry contributing to the growth of smart trackers?
What role do miniaturized smart trackers play in market expansion?
What innovative features are being introduced in smart trackers?
How is digitalization impacting the adoption of smart trackers?

For more information about this report visit https://www.researchandmarkets.com/r/oip4o

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