Press release
2025 GPS Equipment Industry Trends Report: Long-Term Outlook Through 2034
GPS Equipment Market
GPS Equipment Market Size Growth Forecast: What to Expect by 2025?
The market size of GPS equipment has seen swift expansion in the past several years. A surge from $2.96 billion in 2024 to $3.32 billion in 2025 is projected, marking a compound annual growth rate (CAGR) of 12.3%. Factors fueling the historic period's growth include military uses, an upswing in consumer electronics, the use of the global positioning system (GPS) satellite, the automotive industry's adoption, and government initiatives and investment.
How Will the GPS Equipment Market Size Evolve and Grow by 2029?
The size of the GPS equipment market is projected to experience quick expansion in the next several years, with an estimated worth of $5.17 billion in 2029, representing a compound annual growth rate (CAGR) of 11.7%. The anticipated growth during this forecast period can be associated with the increased involvement in the Internet of Things (IoT) and connected devices, data analytics, and location-related services, alongside other factors such as surge in demand for disaster management and emergency response, tie-ups with autonomous drones, security measures, and anti-theft features. Additionally, the forecast period is also likely to witness certain trends, such as the increasing interest in outdoor recreational activities, expanding safety anxieties, the rise of autonomous vehicles, an upswing of utilization in the agricultural sector, forthcoming government initiatives, and regulatory measures.
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What Drivers Are Propelling the Growth of GPS Equipment Market Forward?
The surge in the utilization of GPS tracking devices within commercial vehicles has propelled the growth of the GPS equipment market. Commercial vehicles such as trucks, buses, hefty commercial vehicles, and construction vehicles make use of these GPS tracking devices for real-time monitoring and management. This allows companies to receive live updates, refine their routes, boost efficiency, enhance fuel efficacy, and more. With more businesses leveraging GPS tech for vehicle tracking, they gain a competitive advantage, leading to a superior customer experience. Thus, the employment of GPS gear in commercial vehicles serves as a primary driver for the expansion of the GPS equipment market.
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Which Emerging Trends Are Transforming the GPS Equipment Market in 2025?
GPS-integrated software has seen significant development recently. Utilizing sophisticated software can translate to accessing real-time information about specific locations. This improved software has led to enhanced mapping capabilities and increased integration with resources like Google Earth and predictive diagnosis. Take, for instance, US-based platform Trackem, which specializes in monitoring resources, supplies, job progress, and launched its newest GPS tracking platform version for clients in September 2022. The system features tools for tracking fuel bills, comprehensive fleet fuel use, mileage analysis, and driver scorecards. These scorecards for drivers simplify the process of identifying those who accelerate excessively or drive at high speeds, both actions contributing to higher fuel usage. This data could serve for disciplinary or educational functions. Comprehensive reports highlight many fleet areas that can be adjusted to optimize fuel economy. Moreover, the newly included Maintenance section aids fleet managers or company owners in keeping up-to-date and making necessary vehicle repairs to maximize fuel efficiency. The evolution of an advanced GPS tracker accentuates its acceptance and plays a significant role in the market's growth.
What Are the Key Segments in the GPS Equipment Market?
The GPS equipment market covered in this report is segmented -
1) By Product Type: Data Loggers, Data Pushers, Data Pullers, Covert GPS Trackers
2) By Application: Road, Aviation, Marine, Location-based services, Surveying And Mapping, Other Applications (Hospitality, Education, Retail, Agriculture, And Healthcare)
3) By End-Use Industry: Transportation And Logistics, Construction, Oil And Gas, Metals And Mining, Government, Other End-Use Industries
Subsegments:
1) By Data Loggers: Portable Data Loggers, Fixed Data Loggers
2) By Data Pushers: Real-Time GPS Trackers, Cellular Data Pushers
3) By Data Pullers: Request-Based Trackers, Remote Data Pullers
4) By Covert GPS Trackers: Battery-Powered Trackers, Hardwired Covert Trackers
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Who Are the Key Players Shaping the GPS Equipment Market's Competitive Landscape?
Major companies operating in the GPS equipment market include Garmin Ltd., Sensata Technologies Inc., Trimble Navigation Limited, Jimi IoT, MiTAC Digital Technology Corporation (Navman), Eelink Communication Technology Limited, Queclink Wireless Solutions Co. Ltd., TomTom International BV, Geotab Inc., Teltonika UAB, Calamp Corporation, Sierra Wireless Inc., Mio Technology Corporation, Verizon, Orbocomm Inc., Concox Wireless Solution, Shenzhen Concox Information Technology Co. Ltd., ATrack Technology Inc., Meitrack Group, Trackimo LLC, Ruptela UAB, Xirgo Technologies Inc., Shenzhen Coban Electronics Co. Ltd., Maestro Wireless Solutions, Spy Tec Inc.
What Geographic Markets Are Powering Growth in the GPS Equipment Market?
Asia-Pacific was the largest region in the GPS equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global GPS equipment market share during the forecast period. The regions covered in the gps equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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