Global Smart Tracker Market 2017-2021
About Smart Tracker
A smart tracker is a device that functions on Bluetooth, GPS, and cellular technology. The device is paired with an app on the smartphone and is used to find or locate missing items.This gap in the market has been fulfilled by smart trackers, which are miniaturized devices working on Bluetooth or GPS technology to locate items that have been misplaced. This device also notifies an individual if he or she leaves behind any item. Geo-fencing technology is used to provide alerts to the individual, notifying them when they get too far from their belongings so that these items can be retrieved before it is too late.
Technavio’s analysts forecast the global smart tracker market to grow at a CAGR of 9.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global smart tracker market for 2017-2021. To calculate the market size, the report considers the revenue generated by the sales of stand-alone smart trackers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Smart Tracker Market 2017-2021
Technavio recognizes the following companies as the key players in the global smart tracker market: identifies Tile, TrackR, Link AKC, and Lugloc
Other Prominent Vendors in the market are: Chipolo, EasyFinder, Findster, SUPER HIRO, iKON Tracker, Kaltiot, Nuzzle, Slightech, Beijing Zizai Technology, Pally, Pebblebee, Petsimpl, Pixie, Innova Technology (Protag), PitPatPet, Radius Alert Systems, Tago, ThinkRace Technology, Tumi, Whistle Labs, Wistiki, XY- The Findables Company, and ZOMM.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rugged smart tracker. The smart tracker is a device that is going to be carried around by the owner most of the time. This creates the need for a durable device that can withstand the wear and tear that can take place during daily use. As these devices are designed to be used with almost everything, they must be built to be much tougher and stronger than the typical consumer-grade electronics. Even though this was a major challenge for manufacturers initially, they have overcome this hurdle and are designing trackers that are sufficiently durable. Thus, manufacturers are now using metal to design and develop their products. They are ensuring that all the joints are fully sealed and have received a rating of IP43.”
According to the report, one of the major drivers for this market is Low price will drive adoption. Smart trackers are tiny gadgets that are attached to or placed inside important items or valuables. The simplicity of design and small size of these devices reduces the manufacturing cost of the product significantly. This allows the device manufacturers to price their offerings at a reasonable rate. The relatively inexpensive nature of smart trackers and the ease with which it can find small but valuable items that often get misplaced make this a much-needed gadget with significant potential.
Further, the report states that one of the major factors hindering the growth of this market is Poor battery backup and limited functionality. The biggest issue with smart trackers is the poor battery life of the devices and the limited functionality they offer. The features offered by a device influences the buying decision for almost any product in the market. Most tracking devices still offer just Bluetooth connectivity to track products, making the device not so attractive for the end-user. Even though it is handy to have a Bluetooth button, manufacturers are marketing the device's ability to control presentation slides as a major feature; this only goes on to show its limited functionality. This is because this feature of smart trackers is nowhere close to the power of the best wireless presenters available in the market. This feature also consumes a significant amount of battery, further depleting the already poor battery life.
identifies Tile, TrackR, Link AKC, Lugloc, Chipolo, EasyFinder, Findster, SUPER HIRO, iKON Tracker, Kaltiot, Nuzzle, Slightech, Beijing Zizai Technology, Pally, Pebblebee, Petsimpl, Pixie, Innova Technology (Protag), PitPatPet, Radius Alert Systems, Tago, ThinkRace Technology, Tumi, Whistle Labs, Wistiki, XY- The Findables Company, and ZOMM.