Press release
Strong Growth Ahead: GPS Tracking Device Market Size To Grow At Arecord 15.3% Cagr By 2029
GPS Tracking Device
How Big Is the GPS Tracking Device Market Size Expected to Be by 2034?
The GPS Tracking Device Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
How Big Is the GPS Tracking Device Market Size Expected to Be by 2034?
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What Are the Emerging Segments Within the GPS Tracking Device Market?
The GPS tracking device market covered in this report is segmented -
1) By Type: Standalone Trackers, OBD Devices, Advance Trackers
2) By Deployment: Commercial Vehicles, Cargo And Containers
3) By Application: Automotive, Aerospace And Defense, Healthcare, Transportation
Subsegments:
1) By Standalone Trackers: Personal GPS Trackers, Pet GPS Trackers, Asset GPS Trackers
2) By OBD Devices: OBD-II Plug-And-Play Trackers, OBD Devices With Diagnostics Features
3) By Advance Trackers: Real-Time Tracking Devices, Fleet Management Trackers, GPS Tracking Devices With Geofencing Features, GPS Trackers With Fuel Monitoring
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What Long-Term Drivers Are Shaping GPS Tracking Device Market Trends?
The advancement in the GPS tracking device market is closely linked with the growing need for commercial vehicles. These vehicles, registered under a company name, are usually company cars, fleet vehicles or other vehicles used for the transport of goods and general equipment for commercial or business use. Using GPS tracking devices in these commercial vehicles helps monitor the vehicle's location, improve its maintenance, and increase customer service through real-time updates. Hence, the heightened need for commercial vehicles is fueling the expansion of the GPS tracking device market. As an example, the International Organization of Motor Vehicle Manufacturers, a global trade association based in Paris, reported a 10% rise in the production of commercial vehicles in the USA, escalating from 7,604,154 in 2021 to 8,308,603 in 2022. Furthermore, Argentina also witnessed a 24% hike in commercial vehicle production, moving up from 250,647 in 2021 to 279,388 in 2022. Therefore, the rising demand for commercial vehicles is propelling the development of the GPS tracking device market.
Who Are the Top Competitors in Key GPS Tracking Device Market Segments?
Major companies operating in the GPS tracking device market include CalAmp Inc., ORBCOMM Inc., Sierra Wireless Inc., Shenzhen Jimi IoT Co. Ltd., Queclink Wireless Solutions Co. Ltd., Teltonika Networks, ATrack Technology Inc., Geotab Inc., Meitrack Group Co. Ltd., Trackimo Ltd., Starcom Systems International Inc., TomTom International BV, Ruptela UAB, ICONCOX Co. Ltd., Geoforce LLC, Laird plc, Verizon Wireless, Concox Information Technology Co. Ltd., Laipac Technology Inc., Maestro Wireless Solutions Ltd., Pointer Telocation Ltd., Xirgo Technologies LLC, Fleet Complete Inc., Spireon Inc., GPS Insight LLC, Fleetmatics Group plc, Omnitracs LLC, Zonar Systems Inc., SkyBitz Inc., Trimble Inc.
What GPS Tracking Device Market Trends Are Gaining Traction Across Different Segments?
One significant trend that is becoming more prevalent in the GPS tracking device market is the emphasis on product innovation. Key players in this market are investing their resources in creating new solutions to consolidate their market position. Highlighting this trend, ATrack Technology Inc., a Chinese company renowned for designing and manufacturing telematics hardware, unveiled the AL300 LTE-M waterproof tracker in January 2022. This tracker, equipped with IP67 waterproof and dustproof functions, is perfectly built to serve heavy-duty machinery or transport equipment like refrigerated trucks, trailers, scooters, and agricultural and construction machinery. Its predominant function is to monitor these types of equipment, which are often located outdoors for extended periods, and help effectively manage related costs.
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Which Regions Are Becoming Hubs for GPS Tracking Device Market Innovation?
Europe was the largest region in the GPS tracking device market in 2024. The regions covered in the GPS tracking device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the GPS Tracking Device Market?
2. What is the CAGR expected in the GPS Tracking Device Market?
3. What Are the Key Innovations Transforming the GPS Tracking Device Industry?
4. Which Region Is Leading the GPS Tracking Device Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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