The global GPS Tracking Devices market is valued at approximately $$ billion USD in 2022 and is expected to grow at a healthy growth rate of more than $%. during the forecast period 2023–2030. A GPS tracking device is a compact electronic device that uses the Global Positioning System (GPS) to determine and record the precise location of an object or person. It can be attached to vehicles, assets, or even individuals and uses satellite signals to transmit location data in real-time to a central server or a user's device. GPS tracking devices are commonly used for vehicle tracking, fleet management, asset tracking, personal tracking, and security purposes.
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They can provide accurate location information, speed, direction, and other relevant data, enabling users to monitor and track the movements of the tracked device or person. The key factor driving the market growth is the increasing demand for commercial vehicles, increasing demand for compact and durable GPS tracking devices, and growing popularity of cloud computing and IoT, which are expected to support the market growth during the forecast period.
Furthermore, the increasing demand for commercial vehicles is supporting the growth of the GPS tracking devices market as it is creating a greater need for effective fleet management and vehicle tracking solutions. Commercial vehicles such as trucks and vans are widely used in logistics, transportation, and other industries. GPS tracking devices enable companies to monitor and track their commercial vehicles in real-time and provide valuable information on vehicle location, route optimization, fuel consumption, driver behavior, and maintenance scheduling. This helps companies improve operational efficiency, reduce fuel costs, increase driver safety, and optimize overall fleet performance. Thus, the increasing demand for commercial vehicles is supporting the market growth. According to Statista, 3.79 million commercial vehicles were sold in China in 2014, and this figure rose to 4.79 million in 2021. Furthermore, the development of real-time monitoring features and increasing advancement and upgradation of software used in GPS tracking devices are expected to create lucrative opportunities for the market during the forecast period. However, non-standardized products result in poor user experience and hinder market growth throughout the forecast period 2023-2030.
The major regions considered for the study on the global GPS Tracking Devices market are Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Europe dominated the market in 2022 owing to the growing automobile industry, rising number of commercial vehicle manufacturers, and increasing technological advancements in product development in the region. Asia Pacific is expected to grow significantly during the forecast period owing to factors such as increasing adoption of IoT devices, increasing digitization, rising number of commercial vehicles, growing number of online taxi services, and growing automobile industry in the region.
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The main market players included in this report are:
CalAmp Corp. (USA)
Orbcomm Inc. (USA)
Sierra Wireless, Inc. (Canada)
Shenzhen Concox Information Technology Co., Ltd. (China)
Queclink Wireless Solutions Co., Ltd. (China)
TomTom International BV (Netherlands)
Teltonika UAB (Lithuania)
ATrack Technology Inc. (Taiwan)
Ruptela (Lithuania)
Sensata Technologies, Inc. (USA)
Current developments on the market:
In January 2022, the AL300 LTE-M waterproof tracker was launched by ATrack Technologies Inc. It is IP67 waterproof and dustproof and is specially designed for heavy machinery or transportation equipment that needs to be tracked outdoors for long periods of time, such as trailers, scooters, and heavy agricultural and construction equipment.
Scope of the Global GPS Tracking Devices Market Report:
Historical data: 2020 – 2021
Base year for the estimate: 2022
Forecast period: 2023-2030
Report Scope: Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors and Trends
Segments covered: Technology, Type, Application, Region
Regional scope: North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Scope of customization: Free customization of the report (equivalent to up to 8 hours of work by an analyst) upon purchase. Addition or change of country, regional and segment scope*
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The objective of the study is to define the market sizes of different segments and countries in the recent years and to predict the values for the coming years. The report is designed to consider both qualitative and quantitative aspects of the industry in the countries involved in the study.
The report also provides detailed information about the crucial aspects such as driving factors and challenges that will define the future growth of the market. Furthermore, it also includes potential investment opportunities in micro markets for stakeholders along with a detailed analysis of the competitive landscape and product offerings of the key players.
The detailed segments and sub-segments of the market are explained below:
By technology:
Standalone tracker
OBD device
Advanced Tracker
By type:
Data logger
Data Pusher
Data Extractor
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After application:
Automotive industry
Aerospace & Defense
Healthcare
transport
Other
By region:
North America
US
Canada
Europe
United Kingdom
Germany
France
Spain
Italy
ROE
Asia-Pacific
China
India
Japan
Australia
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South Korea
Asia-Pacific
Latin America
Brazil
Mexico
Middle East and Africa
Saudi Arabia
South Africa
Rest of the Middle East and Africa
Key questions for market analysis:
What is the current infrastructure of the markets?
What opportunities and challenges are there on the market?
What is the future growth potential in certain sectors?
What are the key geographic and market segments to target and what are the target end-user organizations and their potential operating volume?
What does the representative probability breakdown and the price chain breakdown look like?
What is the market size and growth rate in the expected period?
What are the key drivers of the market?
What key market trends are hindering market expansion?
What are the obstacles to market expansion?
Who are the top providers on the market?
Can you provide a thorough SWOT analysis of the market?
What threats and opportunities do current suppliers face in the global market?
Which trend factors influence the markets in different regions?
What initiatives are being taken by the top providers with a strategic focus?
Can you provide a PEST analysis of the top five market regions?
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