The global GPS tracking devices market is expected to grow at a substantial CAGR of 12.2% during the forecast period. The growth of the GPS tracking devices market is driven by the rising demand for fleet management solutions across various industries such as transportation and logistics, construction, and government. GPS tracking devices are an integral part of fleet management solutions and enable organizations to track the location, movement, and performance of their vehicles and assets in real-time. With the increasing need for operational efficiency, cost optimization, and regulatory compliance, organizations are increasingly adopting GPS tracking devices to improve fleet utilization, reduce fuel consumption, prevent theft and unauthorized use, and ensure driver safety and accountability. Furthermore, the rising trend of e-commerce and home deliveries is expected to boost the demand for GPS tracking devices in last-mile delivery applications.
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To meet the growing demand for fleet management solutions, market participants are actively seeking new collaborations in the form of acquisitions and partnerships to expand their customer reach. For example, in October 2019, American automaker Ford partnered with Geotab to develop integrated solutions in its vehicles. The partnership aims to integrate Geotab's fleet management technology into Ford's connected vehicle ecosystem, enabling commercial customers to access real-time data on vehicle performance and driver behavior. In addition, market participants are developing new and advanced solutions and product launches to remain competitive in the market. For example, Cyngn, a developer of innovative autonomous driving software solutions for industrial and commercial applications, launched Infinitracker, a global GPS asset tracking device and data collection gateway for the Internet of Things (“IoT”), in May 2022. The Infinitracker product aligns with Cyngn's mission to create new data insights in industries such as manufacturing, fulfillment, logistics, construction and mining.
In addition, advancements in GPS tracking technology, such as the integration of AI and IoT, are expected to provide further growth opportunities for the market. For example, these technological advancements enable GPS tracking devices to provide more accurate and reliable location data, predictive maintenance, and real-time analytics, thereby improving the overall efficiency and productivity of fleet management.
Global GPS tracking device market segment
By technology
• Standalone tracker
• OBD device
• Advanced Tracker
After application
• Automotive
• Aerospace & Defense
• Healthcare
• Transportation
• Other
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GPS Tracking Devices Market Report – Segment by Regions
North America
• United States
• Canada
Europe
• Germany
• Great Britain
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
rest of the world
• Middle East and Africa
• Latin America
Company profiles
• AT&T Inc.
• ATrack Technology Inc.
• Calamp Corp
• Concox Information Technology Co.
• Garmin Ltd.
• Geotab Inc.
• Laipac Technology Inc.
• Laird Connectivity
• Meitrack Group
• Orbocomm Inc.
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