Global GPS Tracking Devices Market – Size, Outlook, Trends and Forecast (2024 – 2032)

A GPS (Global Positioning System) tracking device is a navigation device usually carried by a moving person or a vehicle that is used to track the movements and location of a person or vehicle. GPS tracking devices are used to obtain real-time location-based data with high accuracy and to track its precise location. The location can be traced out, stored and transmitted to others, which are connected through the internet using satellite or cellular modem embedded in the unit. Data tracking software is available for smartphones with GPS.

Global GPS Tracking Devices Market Size & Growth:

The GPS tracking devices market will be growing at a CAGR of XX% to reach $XX Billion by 2025 from $XX Billion in 2019 during 2019-2025. The prominent factors leading the global GPS tracking devices market are increasing sales of commercial vehicles, affordable prices, high return on investments, small form factor, and high adoption of better technologies across different sectors. The momentum given to security systems and better management of resources will play a significant role in promoting the market growth during the forecast period. Also, IoT and cloud technology, growing use of GPS tracking devices in commercial vehicles and the long life of the GPS tracking devices are also leading the market growth. However, the impact of nonstandard products and several environmental factors are the significant restraints hampering the market growth. Advancements in technology and software are creating profitable opportunities for the global GPS tracking devices market during 2019-2025.

Global GPS Tracking Devices Market Segments Share:

The global GPS tracking devices market is segregated based on type, deployment type, component, tracking device, end user, and geography. By type, the global GPS tracking devices market is classified into the standalone tracker, advance tracker, and On-Board Devices (OBD). Among these, advanced GPS tracker is estimated to hold the most significant market share in the overall global GPS tracking devices market owing to declining prices and growth of commercial fleet management. Advance trackers capture the valuable information related to vehicle performance, and thus the adoption rate of these types of trackers is high compared to others. By deployment type, the market is again segregated into the commercial vehicle, cargo and container, and others. Commercial vehicle deployment type is expected to hold the most significant market share and is estimated to witness the highest CAGR due to increased sales and high usage of GPS tracking devices in commercial vehicles.

By component, the market is classified into GPS loggers, personal GPS trackers, and real-time GPS trackers. The advent of cellular technology reduced the service cost, and the declination in prices provides the scale of economies to GPS module suppliers. By tracking devices, the market is segmented into satellite and cellular. Among these, the cellular segment is expected to witness the highest CAGR and satellite segment is estimated to show the significant market growth owing to the rapid proliferation of mobile devices and high tracking accuracy.

By end user, the market is divided into transportation & logistics, automotive and aerospace, oil & gas, and others. Transportation & logistics segment holds the significant market share is owing to the high adoption rate of GPS tracking devices and long life. By geography, Asia Pacific region is expected to witness the highest CAGR during the forecast period. The primary factors leading the market growth in this region are new product launches and developments, more supportive government programs, and growing concern about safety and security in developing economies. North America region is anticipated to lead the market growth due to the rising popularity of automation and government initiatives.

Global GPS Tracking Devices Market Trends:

• In August 2018. Orbcomm Inc. launched a cloud-based analytics service to provide greater insights and leverages extensive telematics expertise.
• In July 2018, Sierra Wireless Inc. partnered with Origin GPS to deliver the industry’s smallest 2G to 4G GNSS (Global Navigation Satellite System) solution for IoT devices.

Global GPS Tracking Devices Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have a complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried out to understand the market more comprehensively.

Regional and Global Diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact on altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with significant competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The primary critical players in the Global GPS Tracking Devices Market are:

• ORBCOMM
• Laird PLC
• CalAmp Corporation
• Sierra Wireless Inc.
• Teltonika UAB
• Geotab Inc.

Along with these companies, there were many other companies considered/ cited in the report while analysing the global GPS tracking devices market. These companies hold substantial share-owning to the nature of the industry whereas the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and stable customer base.