GPS Tracking Devices Market Outlook, Market Share, Key Players, Revenue, Size and Forecast 2023-2030

By Linda Barrett On Sep 6, 2023

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The GPS tracking device market is valued at approximately USD 1 billion in 2022 and is projected to grow at a healthy growth rate of more than 20% during the forecast period 2023-2030. A GPS tracker 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 real-time location data to a central server or user device. GPS trackers are commonly used for vehicle tracking, fleet management, asset tracking, people tracking, and security purposes. They can provide accurate location information, speed, direction and other relevant data, allowing users to monitor and track the movements of the device or the person being tracked. The key factor driving the market growth is rising demand for commercial vehicles, increasing demand for compact and durable GPS tracking devices, as well as growing popularity of cloud computing and IoT, which are expected to support the market growth over the forecast period.

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Additionally, the increasing demand for commercial vehicles is supporting the growth of the GPS tracking device market by creating a greater need for effective fleet management and vehicle tracking solutions. Commercial vehicles such as trucks and vans are used extensively in logistics, transportation and other industries. With GPS tracking devices, companies can monitor and track their commercial vehicles in real time, providing valuable information on vehicle location, route optimization, fuel consumption, driver behavior and maintenance planning. This helps companies improve operational efficiencies, reduce fuel costs, increase driver safety and optimize the overall performance of their fleet. Thus, the increasing demand for commercial vehicles supports the market growth.

According to Statista, commercial vehicle sales in China in 2014 were 3.79 million units, and in 2021 the number reached 4.79 million units. Furthermore, the development of real-time monitoring capabilities and increasing advancement and updating of the software used in GPS trackers are expected to create lucrative opportunities for the market during the forecast period. However, the impact of non-standard products leads to poor user experience and slows down the market growth throughout the forecast period 2023-2030.

The key regions covered for the global GPS Tracking Devices market study include Asia Pacific, North America, Europe, Latin America and Middle East & Africa. Europe dominated the market in 2022 due to the growing automotive industry, increasing number of commercial vehicle manufacturers and increasing technological advances in product development in the region. The Asia-Pacific region is expected to grow significantly during the forecast period based on factors such as the proliferation of IoT devices, increasing digitalization, the rising number of commercial vehicles, the growing number of online taxi services, and the growing automotive industry in is due to the region.

The major market players listed in this report are:
CalAmp Corp. (UNITED STATES)
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)

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Current developments on the market:
In January 2022, ATrack Technologies Inc. released the AL300 LTE-M waterproof tracker. It has IP67 waterproof and dustproof features and is specially designed for heavy machinery or transportation equipment that needs to be tracked outdoors for a long period of time, such as: B. trailers, scooters and heavy agricultural and construction machinery.

Report Coverage: 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
Customization Scope: Free report customization (equivalent to up to 8 hours of analyst work) with purchase. Addition or change of country, regional and segment scope*
The aim of the study is to define the market sizes of various segments and countries in recent years and to forecast the values for the coming years. The report aims to consider both qualitative and quantitative aspects of the industry in the countries involved in the study.

The report also offers the detailed information about the crucial aspects like driving factors and challenges which will define the future growth of the market. In addition, it also includes potential investment opportunities in micro markets for stakeholders, as well as a detailed analysis of the competitive landscape and product offerings of the major players.

The detailed segments and sub-segments of the market are explained below:

By technology:
Standalone tracker
OBD device
Advance tracker

By type:
data logger
data slide
data puller

By request:
automobile
Aerospace & Defense
healthcare
transport
Other

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By region:
North America
US
Canada
Europe
United Kingdom
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa

Market overview:

Provides a general introduction to the market including its size, growth rate and key characteristics.
This section may also contain information on market segmentation such as by product type, application, or geography.

Industry trends and drivers:

Examines the current trends, developments, and factors driving the market growth or decline.
This may include technological advances, regulatory changes, consumer preferences or economic factors affecting the industry.

Market Analysis:

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Provides a detailed analysis of market dynamics, including supply and demand factors, competitive landscape and market attractiveness.
This section may contain information related to market share, market concentration, and competitive strategies of major players.

Market segmentation:

Divides the market into different segments based on criteria such as product type, application, end user or geography.
This analysis helps to identify specific market opportunities and target groups.

Market size and forecast:

Represents the current market size and estimates future market growth over a period of time.
-This section may contain historical, market forecast and growth rate for various segments.

Competitive Analysis:

Assesses the competitive landscape of the market, including the profiles of the major players, their market share and strategies.
This may also include a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of key competitors.

Market opportunities and challenges:

Identifies potential growth opportunities and challenges in the market. This section may highlight emerging market segments, untapped regions, or technological advancements that can spur market expansion.
It can also address market entry barriers, regulatory hurdles, or competitive threats.

Consumer Insights:

Provides an understanding of consumer behavior, preferences and buying patterns related to the market.
This section may contain survey data, consumer demographics, and customer feedback.

Future prospects and recommendations:

Provides insights into the future prospects of the market and makes recommendations for companies or stakeholders.
In this section strategies for market entry, product development, marketing or investment decisions can be suggested.

Attachment:

Contains additional data, charts, tables, or references that support the analysis presented in the report.

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COMTEX_439608850/2796/2023-09-06T02:55:01

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