Sales of GPS Tracking Modules Continue to Grow Across the Entire Industry
Just a few years ago, technologists were claiming that GPS transceivers were going to become obsolete due to the growth of terrestrial microwave-based cellular resources. GPS-like apps have taken the world of mobile devices by storm, which was supposed to eliminate the need for this kind of equipment.
As it turns out, these pundits made a drastically wrong prediction. Not only is the industry striving, it seems poised to grow at a rate in excess of 10 percent over the next few years.
The biggest sector pushing on this growth is the increased demand for fleet management systems.
Fleet Management in an Increasingly Global Economy
This particular technology allows company administrators to oversee any kind of commercial vehicle. While business analysts usually use the example of a van service that uses a small fleet of delivery trucks, there's no reason that GPS tracking modules can't be put to work handling any number of tasks. For instance, you might find fleet management systems that are designed to look after rail cars, trucks, ships, private automobiles, planes and even helicopters.
Some of the more flexible solutions seem to be leading the way by contributing a great deal of financial value to multiple markets simultaneously. Consider the example of Teltonika GPS trackers: https://www.gpswox.com/en/gps-trackers-shop/teltonika-gps-trackers
These modules come in several sizes, which make them useful for a wide variety of businesses. Many companies have deployed them in private vehicles as well as traditional trucks and vans. Due to their small physical footprint and durable exterior case, they've certainly become attractive for these markets.
Other firms have found that they're excellent for use with tracking buses. Few public policymakers have seriously given much thought to the value of data in analyzing bus routes, but that's beginning to change.
Public agencies are looking for ways to deal with reduced budgets, and this information can assist them in planning routes that get the most for their money. Other private operators have used them to monitor valuables and even individuals who are moving around on foot or bicycles.
While not all of these uses might constitute a major area of growth, they have all contributed in some way to the explosive boom that doesn't show any sign of slowing down.
Electronic Logistics Service Providers Posting Record Profits
An in-depth study conducted by several economists seems to indicate that a series of no less than seven different firms have posted major profits as a result of their focus on electronic logistics tracking. These firms analyze GPS-provided data and identify areas of waste so business owners can revitalize their individual operations.
On top of that, many of these firms also help companies provide better tracking data for those who expect that every shipment gets to them on time. Smaller businesses in particular have had to rely on tracking data supplied by third-party delivery organizations. This isn't an ideal situation, since the companies themselves don't actually own any of this data.
Delivery services are quickly being launched by a number of companies that previously weren't in the business as well. These firms have found it difficult to provide accurate estimates for shipments owing to the fact that they lack any of the existing infrastructure that their larger competitors rely on.
By allying with a GPS service provider, these firms are able to equip all of their vehicles with tracking equipment. This enables them to monitor shipments and provide estimated timetables for arrival.
In many cases, it can also help them drastically reduce costs.
GPS Growth Spurred on by Promises of Cost-cutting
Unfortunately, employees don't always use company time in the wisest fashion. Firms that use GPS tracking equipment to monitor their progress can ensure that this doesn't become that much of a problem. They can also reduce costs by identifying many other types of bottlenecks that have forced prices to increase over time.
This focus on cost efficiency should help the GPS tracking device and electronic logistics markets continue to grow for the foreseeable future. While analysts have pointed out that the initial cost of some of these technologies may be a bit high, they have the potential to save businesses so much money that few end-users seem to mind.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.