Market Highlights
The global GPS tracking device market is growing continually. The market growth attributes to the growing integration of video telematics to field service management and advanced analytics capable of transforming fleet management software. Besides, rising numbers of users who use GPS trackers to track various multiple devices with the help of advanced and sophisticated software on a single screen drive the market growth.
With the increasing uses of GPS vehicle tracking devices developed to track the quality of the road and provided improved mapping facilities, the market is projected to garner substantial traction in the years to come. According to Market Research Future (MRFR), the global GPS tracking device market is expected to grow exponentially by 2027, registering an impressive CAGR during the forecast period (2020-2027).
Additional factors bolstering the market growth include increasing usages of mobile phones & GPS technology and advances in analytical capabilities in communication technologies. The emergence of 3G/4G and 5G technologies fuel the growth of the market, improving vehicle connectivity. Simultaneously, the proliferation of autonomous and semi-autonomous vehicles and growth in cloud computing-based vehicle tracking systems boost the market size.
Rapid economic growth worldwide provides ample opportunities for the expansion of this market. Also, increased R&D expenditures and the expansion of international players influence market growth. Conversely, technological limitations causing the failure of GPS and cellular-based trackers due to limited/failed cellular or wireless network coverage are the significant factors projected to impede the market growth.
Also, requirements for the high R&D investments for research and development activities challenge new market players majorly. Nevertheless, vast advances and uptake of advanced vehicle security technologies would support market growth throughout the assessment period.
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Segmentation:
The report is segmented into types, components, end-users, and regions. The type segment is sub-segmented into standalone tracker, advance tracker, covert GPS trackers, and others. The component segment is sub-segmented into real-time GPS trackers, GPS loggers, personal GPS trackers, and others.
The end-users segment is sub-segmented into retail, hospitality, education, government, defense, industrial, automotive and aerospace, healthcare, transportation, and others. By regions, the market is sub-segmented into Americas, Asia Pacific, Europe, and rest-of-the-world.
Global GPS Tracking Device Market – Regional Analysis
North America dominates the global GPS tracking device market. The region houses many advanced communication technologies and witnesses high uses of GPS vehicle tracking devices. Besides, the increase in demand from the automotive sector and vehicle thefts increases the size of the GPS tracker market for cars. The early adoption of cloud-based deployment services and GPS trackers propels the development of the market.
Asia Pacific stands second in the global GPS tracking device market. The market is driven by the rising sales of premium and luxury vehicles and uptake of GPS trackers. The strong presence of notable manufacturers and operating units with the availability of sophisticated technologies boost the regional market growth. Furthermore, the increasing adoption of GPS services and cloud-based services drives the growth of the regional market.
The proliferation of smartphones provides enormous opportunities for business growth. The growing use of navigation services offers an impetus to the regional market's growth. Rapidly growing countries, such as Japan,
China, and India, are anticipated to grow rapidly through the forecast period.
Global GPS Tracking Device Market – Competitive Analysis
Highly competitive, the GPS tracking device appears fragmented, with several well-established players accounting for a substantial market share. These players incorporate strategies such as acquisition, collaboration, partnership, expansion, and product & technology launch to gain a larger competitive share.
They make vast investments in new product development and global expansion initiatives. The market is likely to witness relentless innovations and new products, eventually intensifying competition among synchronous motor manufacturers.
Major Players:
Players leading the global GPS tracking device market include Sierra Wireless Inc. (Canada), Laipac Technology, Inc. (Canada), Queclink Wireless Solutions Co., Ltd. (China), Atrack Technology Inc. (Taiwan), Tomtom International B V ( Netherland), Calamp Corp. (US), Orbocomm Inc. (US), Concox Information Technology Co., Ltd. (China), Spy tech, Inc. (US), and Verizon Wireless (US).
Industry/ Innovation/ Related News
May 19, 2021 --- Accel-KKR, a leading tech-focused private equity firm, announced the acquisition of a fleet management software leader - GPS Insight. GPS Insight provides SaaS-based fleet management software and complementary solutions for Class 3-6 fleets in the United States and Canada.
Accel-KKR, under its management, has assets worth over US$10 billion. Accel-KKR is merging GPS Insight with its two existing portfolio companies - InSight Mobile Data and Rhino Fleet Tracking focused on fleet management, field services and GPS tracking.
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By Type (Covert GPS Trackers, Standalone Tracker, Advance Tracker), by Components (GPS Loggers, Personal GPS Trackers, Real-Time GPS Trackers), By End-User (Automotive and aerospace, Healthcare, Transportation, Government and defense) - Forecast 2027
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The report "GPS Tracking Device Market by Type (Standalone Tracker, OBD Device & Advance Tracker), Deployment Type (Commercial Vehicle, Cargo & Container), Industry (Transportation & Logistics, Metals & Mining, and Construction) and Geography - Global Forecast to 2025" The GPS tracking device market is expected to reach USD 3.7 billion by 2025, at a CAGR of 11.4% between 2017 and 2025.
The factors that are driving the growth of market include the increasing sales of commercial vehicles, small farm factor, affordable price, and high ROI.
The growth of these devices is driven by the growth of commercial fleet management and declining prices of GPS trackers.
“APAC is projected to dominate the GPS tracking device market between 2017 and 2025” APAC is one of the emerging markets for the GPS tracking devices.
The usage of GPS tracking devices in this region is less as compared to other regions.
Some of the key players offering GPS Tracking devices include Calamp (US), Orbocomm (US), Sierra Wireless (Canada), Quelink Wireless Solution (China), Concox Wireless Solution (China), TomTom International (Netherlands), Laird (UK), Xirgo Technologies (US), and Maestro Wireless Solutions (Hong Kong) among others.
GPS Tracking Device MarketData Bridge Market research released a new market study on GPS Tracking Device Market with 100+ market data Tables, Pie Chart, Graphs & Figures spread through Pages and easy to understand detailed analysis In GPS Tracking Device Market research report also directs the manufacturer about planning of advertising and sales promotion efforts and makes it more effective.
GPS Tracking Device Market survey provides key information about the industry such as helpful and important facts and figures, expert opinions, and the latest developments across the globe.
This market study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period derived with the help of SWOT analysis.Global GPS tracking device market is to register a healthy CAGR of 12.10% in the forecast period of 2019-2026.
The report contains data from the base year of 2018 and the historic year of 2017Grab Sample Report + All Related Tables & Charts of Global GPS Tracking Device Market Study Now @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-gps-tracking-device-marketMarket Definition: Global GPS Tracking Device MarketGPS tracking is basically an observation of the situation by the use of the Global Positioning System (GPS) to trace the position of an object distantly.
The technology can locate latitude, line of longitude, course direction and ground speed of the target.
The GPS may be a bunch of twenty-four aligned satellites that orbit the earth and create it a possibility for particular ground receivers to locate their geographic locationTop Manufacturers Covered in the Report:Few of the major competitors currently working in global GPS tracking device market are CalAmp, Sierra Wireless, ORBCOMM, Queclink Wireless Solutions Co ., Ltd., Concox Information Technology Co., Ltd. , Laird, TomTom International BV.
The study covers the global GPS tracking industry statistics, in terms of revenue, for a period ranging between 2015 and 2025.
The report, besides estimating the ‘GPS Tracking Device’ market potential till 2025, analyzes on who can be the market leaders and what partnerships would help them to capture the market share.
The report gives an overview about the dynamics of the market, by discussing various aspects such as drivers, restraints, Porter’s 5 forces, value chain, customer acceptance and investment scenario.
Request for sample copy of the report at: https://www.adroitmarketresearch.com/contacts/request-sample/624 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.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.
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.
