Smart Tracker Market Overview:
The latest research study “Smart Tracker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global smart tracker market size reached US$ 435.51 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 869.33 Million by 2027, exhibiting a growth rate (CAGR) of 11.50% during 2022-2027.
Smart trackers refer to electronic devices incorporated into specific equipment and household appliances, including head-mounted displays, elegant jewelry, implantable devices, vehicles, fitness wearables, and smartwatches. They consist of embedded accumulators, internal storage, sensors, and microprocessors to receive and track real-time data. Smart trackers utilize technologies, such as Bluetooth, cellular networks, and global positioning systems (GPS), to record information.
They assist in monitoring human activity, including running, sleep quality, walking, and heart rate, improving fleet performance, locating the user, documenting and file tracking, and measuring vehicle utilization. As a result, smart trackers find extensive utilization in monitoring luggage, consumer products, and pets across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Smart Tracker Market Trends and Drivers:
The escalating product need for fitness devices to monitor the health, sleep pattern, blood oxygen, blood pressure, and heart rate of patients is among the primary factors driving the smart tracker market. Besides this, the elevating requirement for these devices to enhance usability and provide a quality experience to users through data collection and analysis is further augmenting the market growth.
Moreover, the introduction of miniaturized smart trackers that are easy to install in pacemakers, cellphones, smartwatches, computers, wearable devices, and defibrillators is also catalyzing the global market. Apart from this, the incorporation of this product in personal computers (PCs) and laptops to enable location tracking during theft and misplacement is acting as another significant growth-inducing factor.
Additionally, the launch of innovative variants with intuitive and advanced features, such as virtual assistance, voice recognition, and artificial intelligence (AI)-based sensors, is also stimulating the market growth. Furthermore, the emerging trend of digitalization, the growing product popularity in intelligent homes, and the rising expenditure capacities of consumers are expected to bolster the smart tracker market in the coming years.
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Smart Tracker Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- iKON Tracker
- Kaltio Technologies
- Link AKC
- PitPatPet Inc
- ThinkRace Technology Co. Ltd.
- Tile Inc. (Life360 Inc.)
The report has been segmented the market into following categories:
- Consumer Products
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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