GPS Tracking Device Market Analysis by Size, Business Strategies, Share, Growth, Trends, Revenue, Competitive Landscape and Developments Forecast by 2030

The global GPS or global positioning system tracking device market size reached USD 2.15 Billion in 2021 and is expected to register a revenue CAGR of 12.3% during the forecast period, according to a latest analysis by Emergen Research. GPS tracking market revenue growth is driven by factors such as increasing demand for the Internet of Things (IoT) and cloud technology, increasing commercial vehicle sales, growing usage of digital maps, and advancements and upgrades of software used in GPS tracking devices.

GPS technology has become an integral component of modern life, and GPS tracking is the core of every car monitoring system. The system consists of a network of satellites circling the Earth and gadgets that can determine the position of an object or a person. Today, GPS has a variety of applications, ranging from global military exercises to navigational directions for vehicles.

IoT is a very innovative concept that impacts all facets of lives. It is feasible to integrate GPS trackers, sensors, and even everyday items with electronics and network connectivity in order to make them smart. These embedded systems can connect to the cloud, be remotely controlled, and interact with one another. Despite the fact that GPS technology has been around for decades, the advent of IoT has altered the way GPS-based apps and devices are used. The IoT allows GPS gadgets to remotely transmit data and connect with other systems and sensors.

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Modern tracking systems are capable of capturing and transmitting a large array of vehicle data, including fuel monitoring, remote temperature monitoring, and driver identification. Automobile rental firms can benefit greatly from GPS tracking devices by increasing service levels and decreasing damage expenses. When a GPS tracking device is installed in a rented vehicle, the renter gains total control over the vehicle and can examine all of its data at any time. It is a useful tool for tracking company vehicles after they have left the office. Loss or damage to a vehicle can have a monetary impact on a car rental company's finances.

The Global GPS Tracking Device Market Research Report added to its expanding repository is an all-inclusive document containing insightful data about the GPS Tracking Device market and its key elements. The report is formulated through extensive primary and secondary research and is curated with an intent to offer the readers and businesses a competitive edge over other players in the industry. The report sheds light on the minute details of the GPS Tracking Device industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2030. The report assesses the historical data and current scenario to offer accurate estimations of the GPS Tracking Device market in the coming years.

Competitive Terrain:

The Global GPS Tracking Device Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.

Major Companies in the Market Include:

CalAmp, ORBCOMM, Sierra Wireless, ATrack Technology Inc., Geotab Inc., Concox, Trackimo, Meitrack Group, RUPTELA, and Geoforce, Inc.

Key Highlights From the Report

The commercial vehicles segment accounted for moderate revenue share in 2021. Commercial GPS tracking is incredibly useful and is getting more popular among businesses that use vehicles. One can improve business operations by using a GPS tracker for commercial cars to always detect the precise position of drivers. Installing a GPS tracker that connects with mapping software enhances routing, dispatch, and safety while also lowering fuel costs and increasing the number of jobs that can be accomplished.

The on-board diagnostic segment accounted for a significant revenue share in 2021. OBD Tracker is a GPS device that offers a number of features such as can read engine fault codes, engine RPM, and vehicle speed. It's easier to set up and operate, and it's more suited for vehicle monitoring. The scope of applicability is expanded. Once the gadget is placed, this tracker will begin its ongoing surveillance of the car.

The aerospace & defense accounted for a significant revenue share in 2021. GPS is employed by aviators globally to improve flying safety and efficiency. With its accurate, continuous, and global capabilities, GPS offers a continuous satellite navigation service to fulfill the demands of a variety of aviation users.

The market in North America accounted for moderate revenue share in 2021. These devices are commonly employed in countries such as the U.S. and Canada to monitor anti-poaching patrols and track the locations of all goods. As a part of the Global Positioning System satellite-based navigation system, the United States Department of Defense sent 24 satellites into orbit.

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Emergen Research has segmented the global GPS tracking device market on the basis of technology type, deployment type, end-use, and region:

Technology Type Outlook (Revenue, USD Billion; 2019-2030)

Standalone Tracker

OBD Device

Advance Tracker

Deployment Type Outlook (Revenue, USD Billion; 2019-2030)

Commercial Vehicles

Cargo & Containers

Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Automotive

Aerospace & Defense

Healthcare

Transportation & Logistics

Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Turkey

Rest of MEA

Key insights presented in the report:

Market revenue shares by major business players, by type, by application, and market scope of global GPS Tracking Device market

Sales revenue by key players and new entrants

Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers

Recent mergers, acquisitions, product launches, recent investments, and joint ventures

Regional analysis to provide insight into recent trends and opportunities

The report demonstrates the progress and advancement achieved by the global GPS Tracking Device market, including the historical analysis and progress through the forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter's Five Forces analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.

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