The Indian GPS tracking device market reaches $348.6 million

India GPS Tracking Devices Market Infographic Description:

• The global GPS tracking device market is expected to be worth around $10.2 billion by 2033
• The Indian GPS tracking device market was worth $95.2 million in 2019.
• The global GPS tracking device market in India is expected to reach $348.6 million in 2029, growing at a compound annual growth rate of 14.1% from 2020 to 2029.
• Among product types, OBD device is expected to account for a major share of 39.8% revenue in the Indian GPS tracking device market at the end of 2018.
• Of all the application segments, rail vehicles are expected to register the highest CAGR of over 15.1%.
• The rapidly growing transportation and logistics sectors in India are expected to drive the growth of the target market. The robust growth of the e-commerce sector and increasing trade activities to and from India are leading to increased flow of goods. Logistics companies face a significant burden when handling goods, and GPS tracking devices make tracking the intended vehicle extremely easy. In addition to fleet management, GPS tracking devices help determine fuel consumption, vehicle performance, driver performance, route planning and scheduling and, above all, theft prevention.
• Companies featured in the report are Garmin Ltd., Teltonika, Propress Instrumentation & Solutions Pvt Ltd., Danlaw Technologies, Hastaka, SenSight Technologies Pvt. Ltd. (AutoWiz), Autocop India Pvt Ltd., Galvanic Infotech Pvt. Ltd., Shenzhen Dytech Technology Co., Ltd. (Dyegoo), Shenzhen Coban Electronics Co., Ltd., Navi Technologies. (Lamrod) and Trakbond.