GPS Tracking Device Market

Global GPS Tracking Device Market Size (2024 to 2032)

The global GPS tracking device market is predicted to reach USD 1.66 billion in 2024 and USD 4.38 billion by 2032, growing at a CAGR of 12.9% during the forecast period.

The study shows that the market has high demand in different segments, including transportation, IT, and Telecommunication, which offer real-time information about vehicles, products, and people. These devices provide advanced GPS vehicle tracking options for businesses and customers, improving safety and security.

The GPS Tracking Device is often carried by a moving vehicle or individual, which is employed to determine and track its present location. IoT and cloud technology are the most prominent factors driving this market. The modern technology in the GPS tracker allows a covert GPS tracking device to be placed anywhere on the basis of size, range, and dependability and being employed for surveillance. Stand-alone and advanced tracking devices are also being used. These devices can be used by businesses, governments, and people to showcase real-time information based on national safety.

MARKET DRIVERS

Factors like low-cost GPS tracking devices, rising employment of these systems in commercial vehicles, and the long life of the GPS device boost the expansion of the market. Moreover, the development of technology and software is estimated to offer numerous opportunities for the market in the coming future. Furthermore, the installation of these devices does not incur very high expenses that further popularize these devices. The relatively low prices also make it easy for small- and medium-sized businesses to deploy these systems and enhance their efficiency. Therefore, the market has been growing its customer base over the years. The critical reason that hampers demand for GPS devices is the accuracy of these devices in ascertaining the position of mobile objects. Nevertheless, the effects of nonstandard products and many environmental factors that result in poor user experience hamper market expansion.  

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global GPS Tracking Device Market Analysis By Type

The advance tracker is estimated to expand at the highest CAGR during the foreseen period. It is professionally installed in vehicles, cargo, and containers to not only show vehicle location but also share engine diagnosis and different parameters for temperature-controlled logistics.

Global GPS Tracking Device Market Analysis By End-User

The transportation & logistics business accounted for the highest share of the GPS tracking device market in the review period and is also estimated to expand at the highest CAGR during the foreseen period. The main reason for this leading position is the rising demand for connected vehicles in both passenger and freight transport. 

REGIONAL ANALYSIS

The North American GPS tracking device market is one of the dominating industries worldwide and accounted for the highest market share in 2019. In North America, these devices are broadly employed to assist in monitoring anti-poaching patrols and track the location continuously for commercial as well as personal uses.  Europe's GPS Tracking Device market is also showing a positive development owing to safety purposes and to also help in getting real-time vehicle location updates, vehicle speeds, and an instant alert message to bad driver behaviors. The Asia-Pacific GPS Tracking Device market, along with countries such as China, Japan, and South Korea, is a growing industry. This local market has great potential for the expansion of the GPS tracking device business, particularly in countries such as China, Japan, etc.

KEY PARTICIPANTS IN THE GLOBAL GPS TRACKING DEVICE MARKET

The key players presently operating in the global GPS tracking device market include CalAmp, Sierra Wireless, ORBCOMM, Queclink Wireless Solutions Co., Ltd., Concox Information Technology Co. Ltd., Laird, TomTom International BV., Meiligao GroupTELTONIKA, ATrack Technology Inc.,  Geotab Inc., Spy Tec International,  Rekvizitai.lt Lithuania, Lantronix, Inc, Xirgo Technologies., GPS Insight, ClearPathGPS, Inc, Azuga, Agile Fleet, US Fleet Tracking, ARIHANT ELECTRICALS, Shenzhen Eelink Communication Technology Co., Ltd., GPS SYSTEMS INDIA, AssetTrackr Pvt Ltd, among others.

RECENT HAPPENINGS IN THE GLOBAL GPS TRACKING DEVICE MARKET

• City-based UniGPS Solutions introduced GPS tracking devices under the name 'UNI Suraksh'. The event showcased the launch of GPS Wearable Watches and Portable Tracking Devices. The product aims to minimize security problems and threats, such as kidnapping, by providing solutions utilizing the latest technologies in the wake of safety problems in cabs and other public places. 

• Home-grown connected vehicle solutions provider Rollr has introduced Rollr Mini — a plug-and-play device that sends Live tracking, alerts, and car health updates. Rollr is a subsidiary of auto components giant Samvardhana Motherson Group (SMG). With this launch, SMG entered the business-to-consumer (B2C) category from the business-to-business (B2B) platform earlier. 

• Globalstar Europe satellite services, a subsidiary of Globalstar providing satellite messaging and emergency notification technologies, revealed that its Spot X two-way satellite communications device is now available across Europe and North Africa. Spot X offers two-way (GPS) tracking and an SOS button that sends the user's GPS location to the GEOS International Emergency Response Coordination Centre (IERCC) over Globalstar's satellite network. The IERCC then transmits details to local first responders to dispatch help to the user's location.

DETAILED SEGMENTATION OF THE GLOBAL GPS TRACKING DEVICE MARKET INCLUDED IN THIS REPORT

This research report on the global GPS tracking device market has been segmented and sub-segmented based on the type, tracking device, end-user, and region.

By Type

•  Standalone Tracker 
•  OBD Device 
•  Advance Tracker

By Tracking Device

• Cellular
• Satellite 

By End-User

• Transportation & Logistics 
• Construction
• Oil & Gas 
• Metals & Mining 
• Government 
• Others 

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa