Starting a business is a fascinating idea but also a challenging assignment. To be successful in your business world, you need to make your idea work.
There are a lot of options in the global market to start a business, why do you want to select GPS in that? One good reason to choose GPS is because of the Global GPS tracking device market.
According to the market, the global GPS tracking device was estimated to be $1.7 billion in 2020. The industry experts forecasted the GPS tracking device market may reach nearly $3.7 billion by 2025 and $ 4.18 Billion by 2027.
Today GPS tracking applications are not only used in the transportation and logistics sector; GPS tracking devices are also widely been used in education, construction, farm equipment, government sectors, mining, etc.
Many applications like fleet management for the trucking industry, aviation, dashcams for commercial vehicles, even uses GPS these applications are expected to fuel the market in the next few years.
If we dig deep into the GPS tracking device market, it was divided into three different major applications.
- STAND-ALONE TRACKERS: These are the basic GPS trackers used to locate and monitor commercial motors like Jv200, WETRACK02, etc.
- OBD DEVICES (ON-BOARD DIAGNOSIS): These GPS devices are used to track and even diagnose the engine. E.g., OBD, FMB 120 are GPS devices which also used to connect with the fuel or temperature monitoring system.
- ADVANCED TRACKERS: Advanced GPS devices are used to track, diagnose and record events that happen with the vehicle. For example, we can say Dashcam, which is used to record and save the entire trip. Dashcams comes with inbuilt GPS, also provides us ADAS (Advanced Driver Assistance System) option to monitor driver behavior, and even helps to connect fuel monitoring system.
Advanced trackers are more than a normal GPS tracking system. These advanced trackers are 3 in one system, which provides the entire visibility of the vehicle.
How About Starting A Gps Business In APAC (Asia Pacific) Region?
Asia-Pacific GPS Market is expected to grow nearly 22.5% CARG, and also APAC is estimated to be the ruling market for GPS tracking devices by 2025 forecast.
You may have a doubt about how this is going to be possible? APAC has a huge market for transportation and logistics. In the last five years, the emerging commercial vehicle sector brought a huge demand for GPS and its application in the market.
“There is Supply for Every Demand.”
Then how about Indonesia, Specifically? Before starting a business, sure we need to analyze the opportunity and how it will be useful in the business? Analyzing the opportunity will assist the business to move on track.
Is It Worth Starting A Gps Tracking Business In Indonesia?
Considering the last 50 years, Indonesia adapting constant economic change and stepping as the largest economy in Southeast Asia. Though it is one of the growing economies, you have huge benefits by starting a GPS business in Indonesia.
The key benefit of starting a GPS tracking business in Indonesia is geographical location. So what is the specialty of Indonesia? Indonesia is located in southeast Asia, with Jakarta as its capital, and Indonesia collectively has 17,508 islands.
Indonesia is ranked the fifth largest country to have the longest waterways. The main thing here you want to note is Indonesia is connected with both the Indian Ocean and the Pacific Ocean.
What the Indian Ocean and the Pacific Ocean are going to do with GPS business? Let’s have a look at the neighboring countries of Indonesia. Indonesia is surrounded by Singapore, Malaysia, Australia, the Philippines, Thailand, Cambodia, Vietnam, Papua New Guinea, etc. There are both economically strong and weak countries around Indonesia, which makes an ideal place to do import and export business.
“Where there is demand, there will be supply” likewise, the vast ocean has a high opportunity for logistics operation, the vast logistics operations have the need for vehicle tracking system (GPS).
Indonesia is of the booming economies and has top export destinations which makes a competitive GPS market. Here are some hot places for a competitive GPS market.
Hope everything about Indonesia and GPS business scope was aligned your expectation. Now, this is the right time to know how to start a GPS business and GPS business, providers.