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GPS Tracking Device Market 2019-2025 Global Industry Analysis & Forecast | TomTom International, Teltonika, Calamp, Sierra Wireless, Orbcomm, Queclink Wireless Solutions, Laird, Meitrack Group, ATrack Technology, Concox Wireless Solutions, Xirgo Technolog
The global GPS tracking device market size is estimated to reach USD 3.49 billion by 2025 driven by the increasing demand for the product as a cost-effective source of fleet management. Rising instances of unauthorized use of company vehicles coupled with the increasing need for fleet productivity are projected to drive the global GPS tracking devices market demand over the forecast period.Request sample copy of this report at: https://www.adroitmarketresearch.com/contacts/request-sample/624
Engagement of vehicles in timely delivery of labor, materials, money or machines, where improvement in transit time & productivity can make a significant difference to the cost or control over logistics, is a prospect for vehicle tracking system installed. The companies dealing in this market are anticipated to tap the underlying opportunities in this segment.
The recent shift in the trend from ownership of vehicles to rental and leasing is driving the demand for fleet management solutions including GPS tracking devices. Nowadays consumers are more interested in being able to access mobility services rather than buying it. The thriving tourism industry is further projected to increase the need for vehicle rental services which in terms is projected to drive the global GPS device tracking market expansion for efficient fleet management.
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An increasing number of online app-based services is expected to impel online car booking services market. For instance, the automobile industry in Asia Pacific is flourishing and online booking services account for more than 60% of the market share. Furthermore, the government of China is implementing regulations to limit the number of on-road vehicles in Tier-I cities which is accelerating the number of rental cars booking. These factor together are providing an impetus for the growth of the global GPS tracking device market.
As the global automotive industry is showing rapid paradigm shift towards electric vehicles (EVs), GPS for electric cars is an additional factor projected to benefit the overall GPS tracking device market. For instance, GPS tracking for EVs will continuously monitor the situation of charging and will notify whether it is time to return home or look for a charging station.
Asia Pacific was the leader within the global GPS tracking device industry with a projected revenue size of USD 1.77 billion by 2025 on account of the rising sales of automobile coupled with the increasing installation of telematics. North America and Europe are also predicted to show significant growth over the forecast period.
The global GPS tracking industry is fragmented with the presence of numerous players spread across the globe. The market is also characterized by the presence of a notable unorganized sector. TomTom International, Teltonika, Calamp, Sierra Wireless, Orbcomm, Queclink Wireless Solutions, Laird, Meitrack Group, ATrack Technology, Concox Wireless Solutions, Xirgo Technologies, Trackimo, and Geotab are some of the active players operating in the global GPS tracking device market.
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Key segments of the global GPS tracker device market
Type Overview, 2015-2025 (USD Million)
Standalone tracker
OBD device
Advance tracker
Application Overview, 2015-2025 (USD Million)
Transportation & Logistics
Metals & mining
Construction
Regional Overview, 2015-2025 (USD Million)
North America
U.S.
Europe
Asia Pacific
China
India
Japan
Middle East and Africa
Central & South America
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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