Market for GPS tracking devices
The global market for GPS tracking devices is subjected to transformative growth through quick technological progress, increased demand for fleet management and an extension of use in search and rescue operations. According to the latest analysis, the industry was rated 2.8 billion US dollars in 2022 and is expected to grow from 2031 to 2031 with an annual growth rate (CAGR) of 11.9% and will reach $ 7.4 billion until the end of the forecast period.
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Market overview
GPS tracking devices use satellite-based global navigation satellite system (GNSS) signals to determine the exact location of vehicles, assets or individuals in real time. By triangling signals of three or more satellites, these devices offer latitude, length, speed and course direction. GPS trackers, which are widespread by fleet managers, logistics operators and personal users, improve operational efficiency, strengthen security and facilitate data-controlled decisions. In commercial transport, optimize routing and reduce fuel consumption. They protect high -quality programs in asset management; And in personal applications you improve security and enable Swift search and rescue efforts.
Market driver & trends
Increasing demand for fleet and asset tracking: The need to minimize downtime, not to identify and prevent crimes not authorized, has driven investments in vehicle and asset persecutors in trading and passenger fleets. Real -time monitoring ensures a quick reaction to collapse or incidents that promote broader acceptance.
Search and rescue applications: GPS tracker in particular compact, personal variant-sind now critical tools for search and rescue teams. By setting up live location data, these devices increase the likelihood that missing people, whether at sea, in aviation incidents or in remote terrestrial environments, increases the likelihood that they are at sea.
Integration into the insurance company (UBI): insurers and telematics providers embedded usage-based insurance modules in GPS trackers. This synergy enables pay-how-you-drive guidelines, the promotion of cost savings for safe drivers and the opening of added value for market participants.
Extended functional development: Leading manufacturers organize portable trackers with built-in dashboard cameras, two-way communication, polygonal geofencing, SOS warnings and MAN-Down detection. These innovations are aimed at growing customer demand for extensive surveillance and situation awareness.
Challenges and costs and costs: Despite strong growth, concerns with regard to higher operating costs and occasional location radio companies that are satellite signal-observering pose.
Main actors and industry leaders
The competitive landscape is fragmented, with a large number of players invest in product improvements, strategic partnerships and M&A to consolidate the market share. Remarkable companies include:
Arusnavi
AT&T Inc.
Atrack Technology Inc.
Calamp Corp.
Geotab Inc.
GPS insight
Metackack group
Navelecom, LLC
Queclink Wireless Solutions Co., Ltd.
Bruntela
Sensata Technologies Inc.
Shenzhen Eelink Communication Technology Co. Ltd.
Sierra Wireless, Inc.
Trackimo
These organizations focus on the expansion of portfolios, the improvement of connectivity options (e.g. 4G LTE, NB-IT) and the persecution of acquisitions to expand the geographical reach and depth of solutions.
Recent developments
October 2022: GPS Insight acquired certified tracking solutions that strengthen its telematics and industrial IoT offers for fleet and field and field service management.
June 2021: The wireless power innovator, the Ossia, worked with Sensata-Xirgo technologies to start a COTA trailer tracking yard management solution in order to reduce slandered trailers in large sales centers.
July 2020: The Meitrack Group presented the P88L a compact GPS tracker with a two-way calling, Geofence Alerts, SOS and MAN-Down recognition, which are tailored to population groups such as children and the elderly.
Latest market trends
Verphalt tovent (V2X) Connectivity: Devices now support V2X communication, so that vehicles can exchange data with infrastructure and other street users, which improves traffic management and security.
Rand processing analyzes: New trackers contain onboard processors that analyze driving behavior and vehicle diagnostics locally and reduce the costs and latency of data transmissions.
Satellite IoT integration: Hybrid trackers combine GNSS with satellite-iot networks (e.g. iridium, swarm) to guarantee the cover in ultra-remote areas, to expand applications in maritime, oil and gas and extreme environments.
Environmental-friendly constructions: Manufacturers introduce solarbig and low power supply GPS trackers to minimize maintenance cycles and support sustainability goals.
Market opportunities
Usage-based insurance (UBI): Since insurers accept telematics, GPS track manufacturers can work together to offer bundled hardware software packages and type in the rapidly growing UBI segment.
Search and rescue contracts: Governments and NGOs increase the budget for the emergency reaction. Special personal trackers and UAV-compatible modules offer lucrative channels.
SME & Emerging Market Penetration: Small and medium -sized companies in Latin America, Africa and Southeast Asia represent under -sufficient markets with increasing logistics needs.
Vertical-specific solutions: custom solutions for industries such as construction, mining and supply companies-Eech with unique environmental and regulatory requirements that are sources of income.
Future prospects
With a predicted CAGR of 11.9% from 2023 to 2031, the market for GPS tracking devices will become $ 2.8 billion in 2022 to $ 7.4 billion by 2031. Innovations in connectivity (5G, satellite iot), AI-controlled analysis and intersection integrations (insurance, smart cities). If the regulatory framework exacerbates the telematics for commercial fleet and heavy vehicles, GPS persecution are determined as a fundamental technology for transport and asset management.
Market segmentation
According to type
Independent trackers
OBD devices (on-board diagnostics)
Extended multi-sensor tracker
By providing
Commercial vehicles
Fracht and container
By application
Fleet management
Asset management
Other (personal persecution, waste and recycling management)
Vertical according to industries
Transport & logistics
Aerospace & defense
Government and public security
Oil & gas
construction
Metals & mining
BFSI (banking, financial services, insurance)
Other (food and drinks, energy and care, healthcare)
According to region
North America
Europe
Asia -Pacifik
Middle East and Africa
South America
Regional knowledge
Europe led the market in 2022 and achieved around 34% of global sales. Strict security and emission regulations in connection with OEM-integrated telematics in high-performance trucks that drive adoption in Germany, France and Great Britain
North America is the second largest market that is driven by the US truck industries.
The Asian-Pacific area is the fastest growing region, which is heated by expanding the logistics networks in China and India and by government initiatives to modernize the transport infrastructure.
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Why buy this report?
Comprehensive analysis: Detailed market forecasts until 2031, supported by historical data (2017-2021).
Segmentation depth: granular breakdown according to device type, deployment mode, application, industry vertical and region.
Competitive landscape: Incoming profiles of leading actors, including product portfolios, financial data, strategies and recent developments.
Strategic findings: implementable recommendations for market entry, product positioning and M&A opportunities.
Value creation tools: Porters five forces, value chain analysis and cross-segment comparisons to control investment decisions.
Frequently asked questions
How big was the size of the global market for GPS tracking devices in 2022?
The market had a value of 2.8 billion US dollars in 2022.
What is the expected CAGR and market value by 2031?
A CAGR of 11.9% will be forecast from 2023 to 2031, with the market reaching 7.4 billion US dollars by the end of 2031.
Which device type holds the largest market share?
Standalone GPS trackers are expected to offer the majority due to their reliability, manipulation-proof characteristics and durability under hard conditions.
Which region dominates the market for GPS tracking devices?
Europe led global sales in 2022 with a market share of around 34%, followed by North America and Asian Pacific.
Who are the most important actors in this market?
Industry leaders include Geotab Inc., Calamp Corp., Sensata Technologies Inc., Queclink Wireless Solutions, Meitrack Group, Shenzhen Eelink, Sierra Wireless, AT&T Inc., Trackimo and GPS Insight.
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