GPS Tracking Device Market is valued at USD 1.57 Billion in 2018 and expected to reach USD 3.38 Billion by 2025 with the CAGR of 11.58% over the forecast period.
Upsurge in real-time fleet monitoring, rising mining and military activities around the world and increased use of GPS trackers in commercial vehicles are the major factors driving the growth of the Global GPS Tracking Device Market
GPS tracking is the surveillance of location which is operated by the global positioning system (GPS) to track the location of the object. GPS devices in smartphones are often used to track employee location. GPS tracking devices use the global navigation satellite system (GNSS) network. This network combines a number of satellites that use microwave signals and these signals are transmitted to GPS devices to provide information about location, vehicle speed, time and direction. When selecting the correct GPS tracker, there are mainly two options are available that is battery-powered also known as portable trackers and hardwired tracking devices. There are basically three types of GPS tracking devices are available including data pushers, data pullers and data loggers. The data pushers are GPS tracking units that are commonly used for personal tracking, asset tracking or the tracking of vehicles. The data loggers are used to store the position of any vehicle or person in its internal memory.
Global GPS Tracking Device Market is segmented on the basis of type, deployment, industry and by region & country level. Based on type, the market is segmented into the advance tracker, standalone tracker and OBD device. On the basis of deployment, the market is classified into commercial vehicle, cargo & containers and others. Based on industry, the market is segmented into transportation & logistics, metals & mining, construction, oil & gas, government and others.
The regions covered in this GPS tracking device market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of GPS tracking device market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players of the GPS tracking device market are,
Upsurge in real-time fleet monitoring, rising mining and military activities around the world and increased use of GPS trackers in commercial vehicles are the key factors encouraging the growth of global GPS tracking device market. The usage of GPS tracking systems is increasing rapidly with the major concern of the proposed system for identifying vehicle theft or monitoring the exact positioning of vehicles. For example; VE Commercial Vehicles (VECV), a Volvo Group and Eicher Motors joint venture, reported that they have sold around 6,236 units in December 2018. Furthermore, lower prices of GPS tracking devices with route optimization & fuel cost-cutting are also expected to boost the market growth within the forecast period. Fuel costs are one of the main expenses in fleet management but GPS tracking devices can help cut these costs and save money. However, the mechanism of a GPS tracking system can give inaccurate results which may deter the growth of this market.
Asia Pacific is anticipated to witness strong growth of GPS tracking device market due to the increasing vehicle sales, growing adoption of new GPS technology with improved features, and increased implementation of a GPS-based personal tracking system in this region. In recent years, lightweight GPS transmitters have been increasingly developed in China to meet the need for wildlife tracking. New vehicle sales in the Asia-Pacific region including passenger vehicles, trucks, and buses were reached about 40.5 million units and The American Ford Motor Company has sold 126,834 vehicles in the Asia Pacific region in 2016. Europe is estimated to be the second-highest region in market expansion owing to increasing commercial use of GPS tracking systems as well as a rise in government spending on telematics. Certain European countries are adopting GPS technology by focusing on applications in land survey, vehicle tracking, geographic information systems, and coastal navigation.
|2015 - 2020
|2019 - 2025
|Market Size in 2019:
|USD 1.57 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2025:
|USD 3.38 Billion
|Tables, Charts & Figures:
|TomTom International BV, Calamp Corp., Orbocomm Inc., Sierra Wireless Inc., Queclink Wireless Solutions Co., Ltd., Shenzhen Concox Information Technology Co., Laird Plc., Meitrack Group, Teltonika UAB, ATrack Technology Inc., Trackimo LLC, Geotab, Others
|By Type, By Deployment, By Industry
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
Middle East and Africa
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