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Gps Tracking Device Market - Forecast(2024 - 2030)
GPS Tracking Device Market Overview
GPS Tracking Device Market size is estimated to reach US$ 6.38 billion by 2030 and is projected to grow at a CAGR 12.5% during the forecast period 2024-2030. The growth of GPS Tracking Device Market is majorly attributed to growing demand for tracking current geographic position of moving objects, assets or individuals to collect real-time information for safety and security purposes. Increasing adoption of intelligent transportation system ensuring vehicle theft protection and growing demand for real-time tracking of all connected devices enabling machine to machine (M2M) communication to gain real-time visibility and control for asset monitoring in remote areas has contributed to the growth of the market. With the increasing integration of wide area augmentation system (WAAS) with air navigation for improving accuracy, integrity and availability the demand for satellite-based radio navigation and tracking system has gained a huge traction. The burgeoning demand for on board diagnostics, Electronic logging device, Standalone Tracker, Data loggers to determine geographic position accelerating commercial vehicle tracking system is boosting the GPS Tracking Device Market. A significant trend in the GPS tracking device market is the integration of advanced connectivity technologies, such as 5G, LTE-M, and NB-IoT. These technologies offer faster data transmission, lower latency, and extended coverage, enabling more reliable and efficient tracking of assets, vehicles, and personnel in real-time. The adoption of these connectivity solutions enhances the capabilities of GPS tracking devices, allowing for seamless communication, remote monitoring, and data analytics across diverse industries and applications. Furthermore, the integration of IoT platforms and cloud-based software enables users to access and analyze tracking data from anywhere, facilitating informed decision-making, resource optimization, and operational efficiency. As connectivity continues to evolve, GPS tracking device manufacturers are innovating to leverage the benefits of advanced networks, providing customers with scalable and future-proof solutions tailored to their tracking and monitoring needs. Another notable development in the GPS tracking device market is the rise of autonomous vehicle tracking and fleet management solutions. With the advancement of vehicle automation technology, there is an increasing demand for GPS tracking devices equipped with advanced features such as autonomous navigation, predictive maintenance, and driver behavior monitoring. These solutions enable fleet operators to optimize route planning, reduce fuel consumption, and enhance driver safety and compliance. Moreover, the integration of telematics systems and artificial intelligence (AI) algorithms allows for predictive analytics and proactive fleet management, enabling companies to anticipate maintenance issues, mitigate risks, and improve overall fleet performance. As autonomous vehicles become more prevalent across industries such as transportation, logistics, and delivery, the demand for sophisticated GPS tracking solutions that support autonomous operations and fleet optimization is expected to continue growing, driving innovation and competitiveness in the GPS tracking device market.
Report Coverage
The report “GPS Tracking Device Market – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the GPS Tracking Device Market
By Device Type: Standalone tracker, OBD device
By Communication Type: Cellular, Satellite
By Deployment: Commercial vehicle, Cargo & Container, others
By Application: Asset tracking, commercial fleet management, shipping container tracking, personnel tracking, medical equipment tracking, wearable, others
By End User: Industrial (Automotive, Aerospace, Defense, Transportation & Logistics, Construction, Mining, Healthcare, Agriculture, Utility, Oil & Gas, Food & Beverage, Chemical, Government & Public sector, other), Consumer
By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea, Australia and Others), South America(Brazil, Argentina and others), and RoW (Middle east and Africa)
Key Takeaways
•Europe is estimated to dominate the market during 2024-2030 owing to government regulations and high investments towards integration of GPS tracker with latest technologies.
•Increasing adoption of GPS trackers in maritime applications and rising demand for industrial asset management solution are augmenting the market.
•Commercial vehicle segment is analyzed to dominate the market during the forecast period 2024-2030 owing to rising adoption of commercial fleet management.
•Transportation and logistics is anticipated to dominate the market between 2024 and 2030 owing to massive transition towards intelligent transportation.
•Data security is one of the challenges impeding the market growth.
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GPS Tracking Device Market Segment Analysis - By Deployment
By Deployment, GPS Tracking Device is segmented into commercial vehicle, cargo and container segment. Commercial vehicle segment dominated the market in 2023 acquiring a share of 42% and is analysed to hold the major GPS Tracking Device market share of 44% by 2030 owing to growing demand for commercial fleet management. Rising demand for real-time tracking and monitoring of commercial vehicles coupled with engine diagnosis data and vehicle performance related information for maintenance optimization and safety purposes is augmenting the market. Increasing sales of commercial vehicles has contributed to the growth of the market. Growing penetration of electronic logging devices (ELD) in commercial vehicles to automatically record hours of service is analysed to boost the market. In December 2024, Orbcomm Inc., launched a new satellite modem integrated with an antenna offering dual-mode connectivity for their transport solutions such as fleet management, cold chain monitoring ensuring improved asset visibility and security. Such innovations are accelerating the market growth.
GPS Tracking Device Market Segment Analysis - By End User
By end user, GPS Tracking Device Market is segmented into industrial and consumer segment. Industrial segment held the major market with a share of 67% in 2023 and is estimated to dominate the market during 2024-2030. In industrial segment transportation and logistics is estimated to dominate the market with a CAGR 11.23% during 2024-2030 due to increasing government norms about installing GPS tracker in commercial and passenger vehicles for ensuring safety. The rising demand for cargo and container tracking for real-time information has also contributed to the growth of the market. The massive transition towards intelligent transportation system is anticipated to boost the market during 2024-2030.
GPS Tracking Device Market Segment Analysis - By Geography
By Geography, GPS tracking device market is segmented into North America, Europe, APAC, South America and RoW. Europe dominated the market acquiring a share of 31% in 2023 and is estimated to hold the major market share during 2024-2030 owing to early adoption of GPS tracking system for security purposes, strict government rules ensuring public safety and high investment towards integration of software with GPS Tracking Devices. APAC is estimated to be the fastest growing market with a CAGR 8.78% owing to heavy industrialization, rapid urbanization and emerging economy. Increasing sales of automotive vehicles in this region is also contributing towards the growth of the market. APAC is estimated to be the hot zone for establishing manufacturing hubs during 2024-2030 and thus accelerating the growth of the market.
GPS Tracking Device Market Drivers
Increasing adoption of GPS tracking and monitoring in marine applications
Increasing demand for automation of marine operations such as search and rescue, navigation, speed measurement, location determination to gain real-time position information for enhancing safety and efficiency mitigating the risks associated with potential hazards or accidents is augmenting the market. Increasing penetration of GPS data for underwater surveying, navigational hazard location and mapping is set to drive the market. Rising demand of GPS Tracking Devices in commercial fishing fleets for determining optimum fishing location, tracking fish migrations ensuring compliance with regulations has contributed to the growth of the market. Integration of geographic information software (GIS) with GPS technology is enhancing the efficient management of maritime port facilities and thus stimulating the market. Such technological advancements are analyzed to drive the market during the forecast period 2024-2030.
Rising demand for industrial asset tracking solutions
Rising adoption of asset tracking and monitoring solutions in various industry verticals to gather information about asset location for optimizing asset utilization is set to drive the market during the forecast period 2024-2030. Rising penetration of different GPS Tracking Devices such as data logger, data pusher, data puller in defense, aerospace, automotive or logistics industries are augmenting the market. Advancements in industrial IoTs utilizing telematics systems to prevent theft, loss, damage for improving asset visibility and operational efficiency has contributed to the growth of the market.
GPS Tracking Device Market Challenges
Data security
Alarming growth in cyber-attacks and security threats is hampering the adoption. According to reports, many GPS Tracking Devices are exposing real-time information such as location information, device model and type information, phone numbers, audio recordings, images resulting in multitude of privacy concerns. However, continuous improvements on cyber-security is anticipated to offset this challenge and promote a healthy growth during the later stages of the forecast period 2024-2030.
GPS Tracking Device Market Landscape
Product innovations, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the GPS Tracking Device market. In 2020, the market of GPS Tracking Device industry outlook has been fragmented by several companies. GPS Tracking Device top 10 companies include Orbcomm Inc., Laird PLC, Teltonika UAB, Geotab Inc., Sieraa Wireless Inc., Tomtom International BV, CalAmp, ATrack Technology Inc., Quecklink Wireless Solutions Co. Ltd., Xirgo Technologies, Inc. among others.
Product Innovation/Acquisitions
•In September 2023, Hero-owned Qubo has launched car GPS trackers that allow customers to track their vehicle's location and monitor how it is being driven. It also features an AI-based Accident Detection feature that alerts emergency contacts during accidents.
•In June 2023, Jio, the renowned Indian company, has launched a budget-friendly item-tracking device named JioTag in the country. This innovative gadget provides a cost-effective alternative to Apple's AirTag and utilizes Bluetooth technology to help individuals locate lost or misplaced items effortlessly.
Relevant Report Titles:
Smart Fleet Management Market
Report Code: ITR 78412
Real Time Location System Market
Report Code: ESR 0037
1. GPS Tracking Device Market Overview
1.1 Definitions and Scope
2. GPS Tracking Device Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By Service Type
2.3 Key trends segmented by Geography
3. GPS Tracking Device Market
3.1 Comparative Analysis
3.1.1 Product/Service Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis
4. GPS Tracking Device Market – By Startup Company Scenario (Premium)
4.1 Investment
4.2 Revenue
4.3 Venture Capital Funding
5. GPS Tracking Device Market – By Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework
5.2 Customer Analysis
5.3 Case Studies
5.4 Ease of Doing Business Index
6. GPS Tracking Device Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Network of new entrants
6.3.4 Rivalry among existing players
6.3.5 Network of substitutes
7. GPS Tracking Device Market – By Strategic Analysis (Market Size -$Million/Billion)
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle/Market Life Cycle Analysis
7.4 Suppliers and Distributors
8. GPS Tracking Device Market – By device type
8.1 Standalone tracker
8.2 OBD device
8.3 Advance tracker
9. GPS Tracking Device Market – By communication type
9.1 Cellular
9.2 satellite
10. GPS Tracking Device Market – By Deployment
10.1 Commercial vehicle
10.2 Cargo & container
10.3 Others
11. GPS Tracking Device Market – By Application
11.1 Asset tracking
11.2 Commercial Fleet Management
11.3 Shipping Container tracking
11.4 Personnel tracking
11.5 Medical equipment tracking
11.6 Wearable
11.7 Others
12. GPS Tracking Device Market - By End User
12.1 Industrial
12.1.1 Automotive
12.1.2 Aerospace & defense
12.1.3 Transportation & logistics
12.1.4 Construction
12.1.5 Mining
12.1.6 Healthcare
12.1.7 Agriculture
12.1.8 Utility
12.1.9 Oil & gas
12.1.10 Food & beverage
12.1.11 Chemical
12.1.12 Government & public sector
12.1.13 Others
12.2 Consumer
13. GPS Tracking Device Market – By Region
13.1 North America
13.1.1 U.S
13.1.2 Canada
13.1.3 Mexico
13.2 South America
13.2.1 Brazil
13.2.2 Argentina
13.2.3 Rest of South America
13.3 Europe
13.3.1 Germany
13.3.2 France
13.3.3 UK
13.3.4 Italy
13.3.5 Spain
13.3.6 Russia
13.3.7 Rest of Europe
13.4 APAC
13.4.1 China
13.4.2 Japan
13.4.3 South Korea
13.4.4 India
13.4.5 Australia
13.4.6 Rest of APAC
13.5 RoW
13.5.1 Middle East
13.5.2 Africa
14. GPS Tracking Device Market - Industry Landscape Analysis (Premium)
14.1 Market Share by Region
14.2 Market Share by Industry
14.3 Market Share by Type
15. GPS Tracking Device Market - Key Companies by Country (Premium)
16. GPS Tracking Device Market Entropy
16.1 New Product Launches
16.2 M&As, Collaborations, JVs and Partnerships
17. GPS Tracking Device Market - Company Analysis
17.1 Orbcomm Inc
17.2 Laird PLC
17.3 Teltonika UAB
17.4 Geotab Inc.
17.5 Sieraa Wireless Inc.
17.6 Company 6
17.7 Company 7
17.8 Company 8
17.9 Company 9
17.10 Company 10
LIST OF TABLES
1.Global GPS Tracking Device Market By Type Market 2023-2030 ($M)1.1 Standalone Tracker Market 2023-2030 ($M) - Global Industry Research
1.2 OBD Device Market 2023-2030 ($M) - Global Industry Research
1.3 Advance Tracker Market 2023-2030 ($M) - Global Industry Research
2.Global GPS Tracking Device Market By Deployment Type Market 2023-2030 ($M)
2.1 Commercial Vehicle Market 2023-2030 ($M) - Global Industry Research
2.2 Cargo & Container Market 2023-2030 ($M) - Global Industry Research
3.Global GPS Tracking Device Market By Industry Market 2023-2030 ($M)
3.1 Transportation & Logistics Market 2023-2030 ($M) - Global Industry Research
3.2 Construction Market 2023-2030 ($M) - Global Industry Research
3.3 Oil & Gas Market 2023-2030 ($M) - Global Industry Research
3.4 Metals & Mining Market 2023-2030 ($M) - Global Industry Research
3.5 Government Market 2023-2030 ($M) - Global Industry Research
4.Global GPS Tracking Device Market By Type Market 2023-2030 (Volume/Units)
4.1 Standalone Tracker Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 OBD Device Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Advance Tracker Market 2023-2030 (Volume/Units) - Global Industry Research
5.Global GPS Tracking Device Market By Deployment Type Market 2023-2030 (Volume/Units)
5.1 Commercial Vehicle Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Cargo & Container Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global GPS Tracking Device Market By Industry Market 2023-2030 (Volume/Units)
6.1 Transportation & Logistics Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Construction Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Oil & Gas Market 2023-2030 (Volume/Units) - Global Industry Research
6.4 Metals & Mining Market 2023-2030 (Volume/Units) - Global Industry Research
6.5 Government Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America GPS Tracking Device Market By Type Market 2023-2030 ($M)
7.1 Standalone Tracker Market 2023-2030 ($M) - Regional Industry Research
7.2 OBD Device Market 2023-2030 ($M) - Regional Industry Research
7.3 Advance Tracker Market 2023-2030 ($M) - Regional Industry Research
8.North America GPS Tracking Device Market By Deployment Type Market 2023-2030 ($M)
8.1 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
8.2 Cargo & Container Market 2023-2030 ($M) - Regional Industry Research
9.North America GPS Tracking Device Market By Industry Market 2023-2030 ($M)
9.1 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
9.2 Construction Market 2023-2030 ($M) - Regional Industry Research
9.3 Oil & Gas Market 2023-2030 ($M) - Regional Industry Research
9.4 Metals & Mining Market 2023-2030 ($M) - Regional Industry Research
9.5 Government Market 2023-2030 ($M) - Regional Industry Research
10.South America GPS Tracking Device Market By Type Market 2023-2030 ($M)
10.1 Standalone Tracker Market 2023-2030 ($M) - Regional Industry Research
10.2 OBD Device Market 2023-2030 ($M) - Regional Industry Research
10.3 Advance Tracker Market 2023-2030 ($M) - Regional Industry Research
11.South America GPS Tracking Device Market By Deployment Type Market 2023-2030 ($M)
11.1 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
11.2 Cargo & Container Market 2023-2030 ($M) - Regional Industry Research
12.South America GPS Tracking Device Market By Industry Market 2023-2030 ($M)
12.1 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
12.2 Construction Market 2023-2030 ($M) - Regional Industry Research
12.3 Oil & Gas Market 2023-2030 ($M) - Regional Industry Research
12.4 Metals & Mining Market 2023-2030 ($M) - Regional Industry Research
12.5 Government Market 2023-2030 ($M) - Regional Industry Research
13.Europe GPS Tracking Device Market By Type Market 2023-2030 ($M)
13.1 Standalone Tracker Market 2023-2030 ($M) - Regional Industry Research
13.2 OBD Device Market 2023-2030 ($M) - Regional Industry Research
13.3 Advance Tracker Market 2023-2030 ($M) - Regional Industry Research
14.Europe GPS Tracking Device Market By Deployment Type Market 2023-2030 ($M)
14.1 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
14.2 Cargo & Container Market 2023-2030 ($M) - Regional Industry Research
15.Europe GPS Tracking Device Market By Industry Market 2023-2030 ($M)
15.1 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
15.2 Construction Market 2023-2030 ($M) - Regional Industry Research
15.3 Oil & Gas Market 2023-2030 ($M) - Regional Industry Research
15.4 Metals & Mining Market 2023-2030 ($M) - Regional Industry Research
15.5 Government Market 2023-2030 ($M) - Regional Industry Research
16.APAC GPS Tracking Device Market By Type Market 2023-2030 ($M)
16.1 Standalone Tracker Market 2023-2030 ($M) - Regional Industry Research
16.2 OBD Device Market 2023-2030 ($M) - Regional Industry Research
16.3 Advance Tracker Market 2023-2030 ($M) - Regional Industry Research
17.APAC GPS Tracking Device Market By Deployment Type Market 2023-2030 ($M)
17.1 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
17.2 Cargo & Container Market 2023-2030 ($M) - Regional Industry Research
18.APAC GPS Tracking Device Market By Industry Market 2023-2030 ($M)
18.1 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
18.2 Construction Market 2023-2030 ($M) - Regional Industry Research
18.3 Oil & Gas Market 2023-2030 ($M) - Regional Industry Research
18.4 Metals & Mining Market 2023-2030 ($M) - Regional Industry Research
18.5 Government Market 2023-2030 ($M) - Regional Industry Research
19.MENA GPS Tracking Device Market By Type Market 2023-2030 ($M)
19.1 Standalone Tracker Market 2023-2030 ($M) - Regional Industry Research
19.2 OBD Device Market 2023-2030 ($M) - Regional Industry Research
19.3 Advance Tracker Market 2023-2030 ($M) - Regional Industry Research
20.MENA GPS Tracking Device Market By Deployment Type Market 2023-2030 ($M)
20.1 Commercial Vehicle Market 2023-2030 ($M) - Regional Industry Research
20.2 Cargo & Container Market 2023-2030 ($M) - Regional Industry Research
21.MENA GPS Tracking Device Market By Industry Market 2023-2030 ($M)
21.1 Transportation & Logistics Market 2023-2030 ($M) - Regional Industry Research
21.2 Construction Market 2023-2030 ($M) - Regional Industry Research
21.3 Oil & Gas Market 2023-2030 ($M) - Regional Industry Research
21.4 Metals & Mining Market 2023-2030 ($M) - Regional Industry Research
21.5 Government Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Gps Tracking Device Market Revenue, 2023-2030 ($M)2.Canada Gps Tracking Device Market Revenue, 2023-2030 ($M)
3.Mexico Gps Tracking Device Market Revenue, 2023-2030 ($M)
4.Brazil Gps Tracking Device Market Revenue, 2023-2030 ($M)
5.Argentina Gps Tracking Device Market Revenue, 2023-2030 ($M)
6.Peru Gps Tracking Device Market Revenue, 2023-2030 ($M)
7.Colombia Gps Tracking Device Market Revenue, 2023-2030 ($M)
8.Chile Gps Tracking Device Market Revenue, 2023-2030 ($M)
9.Rest of South America Gps Tracking Device Market Revenue, 2023-2030 ($M)
10.UK Gps Tracking Device Market Revenue, 2023-2030 ($M)
11.Germany Gps Tracking Device Market Revenue, 2023-2030 ($M)
12.France Gps Tracking Device Market Revenue, 2023-2030 ($M)
13.Italy Gps Tracking Device Market Revenue, 2023-2030 ($M)
14.Spain Gps Tracking Device Market Revenue, 2023-2030 ($M)
15.Rest of Europe Gps Tracking Device Market Revenue, 2023-2030 ($M)
16.China Gps Tracking Device Market Revenue, 2023-2030 ($M)
17.India Gps Tracking Device Market Revenue, 2023-2030 ($M)
18.Japan Gps Tracking Device Market Revenue, 2023-2030 ($M)
19.South Korea Gps Tracking Device Market Revenue, 2023-2030 ($M)
20.South Africa Gps Tracking Device Market Revenue, 2023-2030 ($M)
21.North America Gps Tracking Device By Application
22.South America Gps Tracking Device By Application
23.Europe Gps Tracking Device By Application
24.APAC Gps Tracking Device By Application
25.MENA Gps Tracking Device By Application
26.Calamp Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Orbocomm Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Laird PLC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Tomtom International Bv, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Meitrack Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Teltonika UAB, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Atrack Technology Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Trackimo LLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Geotab Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Key Innovators, Sales /Revenue, 2015-2018 ($Mn/$Bn)