The GPS tracking device market is expected to grow from $3.1 billion in 2023 to $5.7 billion in 2028; it is expected to grow at a CAGR of 13.1%


during the forecast period. Advances in GPS tracking devices have developed features like real-time monitoring, geofencing, custom reporting, etc. Such initiatives have made GPS tracking devices more attractive to the transportation, logistics, construction, and agriculture industries.

NEW YORK, March 31, 2023 (GLOBE NEWSWIRE) — announces the release of the report, “GPS Tracking Device Market by Type, Deployment, Communication Technologies, Industry and Region – Global Forecast to 2028” – https://www

“Advanced trackers are expected to capture the largest market share during the forecast period
Advanced trackers are better than standalone trackers, especially in-vehicle applications, because they capture vehicle performance parameters directly from the engine rather than its own sensors. These devices are used by various fleet management service providers to offer superior services beyond vehicle location and tracking.

Fleet owners are interested in increasing operational efficiencies to achieve higher ROI. However, the availability of advanced data analysis tools further favors their demand.

Cargo and container segment to provide significant growth opportunities during the forecast period
Business owners focus on better supply chain visibility and cargo and container security enabled by GPS tracking devices; Hence, the market for these devices in cargo and containers is expected to grow at the highest growth rate during the forecast period. Valuable assets and cargo are frequently transported around the world.

Loss of or damage to this container or cargo can result in significant financial loss to the manufacturer or buyer. Therefore, it is very important to keep an eye on containers during their transport.

The Asia Pacific market is set to grow at the highest CAGR during the forecast period
The Asia Pacific GPS tracking devices market is being driven primarily by a combination of factors including increasing focus on security, growing e-commerce market, government initiatives and technological advancements. Commercial vehicles play an important role in China’s economy.

As a global manufacturing hub, transportation and logistics are crucial industries for the country’s development. Road transport accounts for a large part of the total goods transported in the Chinese market.

Therefore, the GPS tracking device market in China is expected to see high growth.

Breakdown of the main participants’ profiles:
• By company type: Tier 1 – 30%, Tier 2 – 35% and Tier 3 – 35%
• By title: C-level executives – 55%, directors – 30% and others – 15%
• By region: North America – 20%, Europe – 35%, Asia Pacific – 35% and RoW – 10%

The following major players are profiled in this report: 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) and Sensata Technologies, Inc. (USA).

research reporting
This research report categorizes the GPS tracking devices market by type, deployment, industry and region. The report describes the key drivers, restraints, challenges and opportunities related to the GPS Tracking Devices market and forecasts them up to 2028.

Apart from that, the report also consists of guide mapping and analysis of all the companies that are included in the GPS trackers ecosystem.

Key benefits of purchasing the report:
The report will assist market leaders/new entrants with information on the most accurate approximations of sales figures for the overall GPS Tracking Devices market and its sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position companies and plan appropriate go-to-market strategies.

The report also helps stakeholders to understand the pulse of the market, providing them with information on the major market drivers, restraints, challenges, and opportunities.
Read the full report:

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