The GPS tracking device market is projected to grow from USD 3.1 billion in 2023 to USD 5.7 billion in 2028; it is expected to grow at a CAGR of 13.1% during the forecasted period. Advancements in GPS tracking devices have developed features such as real-time monitoring, geofencing, custom reporting, etc. Such initiatives have made GPS tracking devices more attractive to transportation, logistics, construction, and agriculture industries.
Advance trackers are expected to register largest market share during the forecast period
Advance trackers are better than standalone trackers, especially in-vehicle applications, as they capture vehicle performance parameters directly from the engine rather than its own sensors. These devices are being used by various fleet management service providers to offer superior services beyond vehicle tracking and tracing. Fleet owners are interested in increasing operational efficiency to achieve higher ROI. However, the availability of advanced data analytics tools further favors their demand.
Cargo & containers segment to provide significant growth opportunities during the forecast period
Business owners focus on better visibility of the supply chain and security of the cargo and container that is enabled by GPS tracking devices; thus, the market of these devices in cargo and container is expected to grow at the highest growth rate during the forecast period. Valuable assets and freights are often transported across the world. The loss or damage of these containers or cargo may cause significant financial loss to the manufacturer or the buyer. Thus, keeping track of containers during their transportation is very important.
Market in Asia Pacific to grow at highest CAGR during the forecast period
The GPS tracking device market in Asia Pacific Region is mainly driven by a combination of factors, including increasing focus on safety and security, growing e-commerce market, government initiatives, and advancement in technology. Commercial vehicle plays a vital role in China’s economy. Being the global manufacturing hub, transportation and logistics is a crucial industries for the development of the country. Road transport represents a major chunk of the total goods transported in the Chinese market. Thus, the GPS tracking devices market in China is expected to witness high growth.
Breakdown of the profiles of primary participants:
- By Company Type: Tier 1 - 30%, Tier 2 - 35%, and Tier 3 - 35%
- By Designation: C-level Executives - 55%, Directors - 30%, and others - 15%
- By Region: North America - 20%, Europe - 35%, Asia Pacific - 35%, and RoW - 10%
Major players profiled in this report are as follows: CalAmp Corp. (US), Orbcomm Inc. (US), Sierra Wireless, Inc. (Canada), Shenzhen Concox Information Technology Co., Ltd. (China), Queclink Wireless Solutions Co., Ltd. (China), TomTom International BV (Netherlands), Teltonika UAB (Lithuania), ATrack Technology Inc. (Taiwan), Ruptela (Lithuania), and Sensata Technologies, Inc. (US).
Research Coverage
This research report categorizes the GPS tracking device market on the basis of type, deployment, industry, and region. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the GPS tracking device market and forecasts the same till 2028. Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the GPS tracking device ecosystem.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall GPS tracking device market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Segmentation of GPS Tracking Device Market
1.3.2 Regional Scope
1.3.3 Years Considered
1.4 Currency Considered
1.5 Limitations
1.6 Stakeholders
1.7 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 2 GPS Tracking Device Market: Research Design
2.1.1 Secondary and Primary Research
2.1.1.1 Key Industry Insights
2.1.2 Secondary Data
2.1.2.1 List of Major Secondary Sources
2.1.2.2 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Interviews with Experts
2.1.3.2 Breakdown of Primaries
2.1.3.3 Key Data from Primary Sources
2.2 Market Size Estimation
Figure 3 Market Size Estimation Methodology: Supply-Side Approach
2.2.1 Bottom-Up Approach
2.2.1.1 Approach to Estimate Market Size Using Bottom-Up Analysis (Demand Side)
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach to Estimate Market Size Using Top-Down Analysis (Supply Side)
Figure 5 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Breakdown and Data Triangulation
Figure 6 Data Triangulation
2.4 Research Assumptions
Figure 7 Research Study Assumptions
Table 1 Parameters Considered to Analyze Impact of Recession on Market
3 Executive Summary
Figure 8 Advance Trackers to Dominate GPS Tracking Device Market During Forecast Period
Figure 9 Cargo and Containers Projected to Record Highest CAGR During Forecast Period
Figure 10 Transportation & Logistics to Dominate Market
Figure 11 Market in Europe Held Largest Market Share in 2022
3.1 Impact Analysis of Recession on GPS Tracking Device Market
Figure 12 Gdp Growth Projection Till 2023 for Major Economies (Percentage Change)
4 Premium Insights
4.1 Attractive Opportunities for Players in GPS Tracking Device Market
Figure 13 Increase in Demand for Cloud Technology and IoT to Drive Growth of Market
4.2 GPS Tracking Device Market, by Type
Figure 14 Advance Trackers to Dominate Market Between 2023 and 2O28
4.3 GPS Tracking Device Market, by Deployment
Figure 15 Commercial Vehicles to Capture Highest Market Share in 2028
4.4 Asia-Pacific Market, by Industry and Country
Figure 16 in Asia-Pacific, Transportation & Logistics to be Most Lucrative Industry; China Likely to Dominate Market During Forecast Period
4.5 GPS Tracking Device Market, by Region
Figure 17 Europe Held Largest Share of Market in 2022
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 18 GPS Tracking Device Market : Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Increasing Demand for Commercial Vehicles
5.2.1.2 Demand for Compact Size and Durable GPS Tracking Devices
5.2.1.3 Increasing Popularity of Cloud Computing and Iot
5.2.2 Restraints
5.2.2.1 Impact of Nonstandard Products Leads to Poor User Experience
5.2.3 Opportunities
5.2.3.1 Demand for GPS Tracking Devices for Usage-Based Insurance
5.2.3.2 Development of Real-Time Monitoring Features
5.2.4 Challenges
5.2.4.1 Increasing Adoption of Hardware-Agnostic Tracking Solutions and Regular Maintenance of GPS Device
5.3 Supply Chain Analysis
Figure 19 Supply Chain Analysis: GPS Tracking Device Market
5.4 Pricing Analysis
Table 2 Indicative Pricing Analysis of GPS Tracking Devices Offered by Companies
Figure 20 Average Selling Price of GPS Tracking Device
5.5 Key Stakeholders and Buying Criteria
5.5.1 Key Stakeholders in Buying Process
Figure 21 Influence of Stakeholders on Buying Process for Top Three Industries
Table 3 Influence of Stakeholders on Buying Process for Top Three Industries (%)
5.6 Trade Analysis
Figure 22 Export Data for Products Covered Under Hs Code 8526, 2017-2021 (USD Million)
Figure 23 Import Data for Products Covered Under Hs Code 8526, 2017-2021 (USD Million)
5.7 Key Conferences and Events, 2023-2024
Table 4 GPS Tracking Device Market: Conferences and Events, 2023-2024
6 GPS Tracking Device Market, by Type
6.1 Introduction
Figure 24 Advance Trackers Expected to Record Highest CAGR During Forecast Period
Table 5 GPS Tracking Device Market, by Type, 2019-2022 (USD Million)
Table 6 Market, by Type, 2023-2028 (USD Million)
6.2 Standalone Trackers
6.2.1 Provide Near Real-Time Location of Vehicles
Table 7 Standalone Trackers: Market, by Region, 2019-2022 (USD Million)
Table 8 Standalone Trackers: Market, by Region, 2023-2028 (USD Million)
Table 9 Standalone Trackers: Market, by Industry, 2019-2022 (USD Million)
Table 10 Standalone Trackers: Market, by Industry, 2023-2028 (USD Million)
Table 11 Standalone Trackers: Market, by Deployment, 2019-2022 (USD Million)
Table 12 Standalone Trackers: Market, by Deployment, 2023-2028 (USD Million)
6.3 Obd Devices
6.3.1 Offers Information by Reading Dtcs from Vehicle Computer System
Table 13 Obd Devices: GPS Tracking Devices Market, by Region, 2019-2022 (USD Million)
Table 14 Obd Devices: Market, by Region, 2023-2028 (USD Million)
Table 15 Obd Devices: Market, by Industry, 2019-2022 (USD Million)
Table 16 Obd Devices: Market, by Industry, 2023-2028 (USD Million)
6.4 Advance Trackers
6.4.1 Connected to Automotive Communication Port to Provide Vehicle-Related Data
Table 17 Advance Trackers: Market, by Region, 2019-2022 (USD Million)
Table 18 Advance Trackers: Market, by Region, 2023-2028 (USD Million)
Table 19 Advance Trackers: Market, by Industry, 2019-2022 (USD Million)
Table 20 Advance Trackers: Market, by Industry, 2023-2028 (USD Million)
Table 21 Advance Trackers: Market, by Deployment, 2019-2022 (USD Million)
Table 22 Advance Trackers: Market, by Deployment, 2023-2028 (USD Million)
7 GPS Tracking Device Market, by Deployment
7.1 Introduction
Figure 25 GPS Tracking Device Market for Cargo and Containers to Expand at Highest CAGR During Forecast Period
Table 23 Market, by Deployment, 2019-2022 (USD Million)
Table 24 Market, by Deployment, 2023-2028 (USD Million)
7.2 Commercial Vehicles
7.2.1 Advance Trackers to Gain Popularity in Commercial Vehicles
Table 25 Commercial Vehicle: GPS Tracking Device Market, by Type, 2019-2022 (USD Million)
Table 26 Commercial Vehicle: Market, by Type, 2023-2028 (USD Million)
7.3 Cargo and Containers
7.3.1 Offers Simplified and Effective Solutions to Track Cargo and Containers
Table 27 Cargo and Container: GPS Tracking Device Market, by Type, 2019-2022 (USD Million)
Table 28 Cargo and Container: GPS Tracking Device Market, by Type, 2023-2028 (USD Million)
8 Communication Technologies for GPS Tracking Device
8.1 Introduction
8.2 Satellite
8.3 Cellular
9 GPS Tracking Device Market, by Industry
9.1 Introduction
Figure 26 Transportation & Logistics to Dominate GPS Tracking Device Market from 2023 to 2028
Table 29 Market, by Industry, 2019-2022 (USD Million)
Table 30 Market, by Industry, 2023-2028 (USD Million)
9.2 Transportation & Logistics
9.2.1 Automates Workflow Process and Ensures Streamlined Operations
Table 31 Transportation & Logistics: GPS Tracking Device Market, by Region, 2019-2022 (USD Million)
Table 32 Transportation & Logistics: Market, by Region, 2023-2028 (USD Million)
Table 33 Transportation & Logistics: Gmarket, by Type, 2019-2022 (USD Million)
Table 34 Transportation & Logistics: Market, by Type, 2023-2028 (USD Million)
9.3 Construction
9.3.1 Importance of Tracking Heavy Vehicles and Assets
Table 35 Construction: Market, by Region, 2019-2022 (USD Million)
Table 36 Construction: Market, by Region, 2023-2028 (USD Million)
Table 37 Construction: Market, by Type, 2019-2022 (USD Million)
Table 38 Construction: Market, by Type, 2023-2028 (USD Million)
9.4 Oil & Gas
9.4.1 Tracks Movement of Large-Scale Generators and Heavy Vehicles
Table 39 Oil & Gas: Market, by Region, 2019-2022 (USD Million)
Table 40 Oil & Gas: Market, by Region, 2023-2028 (USD Million)
Table 41 Oil & Gas: Market, by Type, 2019-2022 (USD Million)
Table 42 Oil & Gas: Market, by Type, 2023-2028 (USD Million)
9.5 Metals & Mining
9.5.1 Enables Transparency and Accountability in Mining Operations
Table 43 Metals & Mining: GPS Tracking Device Market, by Region, 2019-2022 (USD Million)
Table 44 Metals & Mining: Market, by Region, 2023-2028 (USD Million)
Table 45 Metals & Mining: Market, by Type, 2019-2022 (USD Million)
Table 46 Metals & Mining: Market, by Type, 2023-2028 (USD Million)
9.6 Government
9.6.1 Meets Community Safety Demands, Saves Fuel, and Provides Quick Response in Emergencies
Table 47 Government: Market, by Region, 2019-2022 (USD Million)
Table 48 Government: Market, by Region, 2023-2028 (USD Million)
Table 49 Government: Market, by Type, 2019-2022 (USD Million)
Table 50 Government: Market, by Type, 2023-2028 (USD Million)
9.7 Others
9.7.1 Education
9.7.2 Hospitality
9.7.3 Agriculture
9.7.4 Healthcare
Table 51 Others: GPS Tracking Device Market, by Region, 2019-2022 (USD Million)
Table 52 Others: Market, by Region, 2023-2028 (USD Million)
Table 53 Others: Market, by Type, 2019-2022 (USD Million)
Table 54 Others: Market, by Type, 2023-2028 (USD Million)
10 GPS Tracking Device Market, by Geography
10.1 Introduction
Figure 27 GPS Tracking Device Market: Regional Snapshot (2023-2028)
Table 55 Market, by Region, 2019-2022 (USD Million)
Table 56 Market, by Region, 2023-2028 (USD Million)
10.2 North America
Figure 28 North America: GPS Tracking Device Market Snapshot
Table 57 North America: GPS Tracking Device Market, by Country, 2019-2022 (USD Million)
Table 58 North America: Market, by Country, 2023-2028 (USD Million)
Table 59 North America: Market, by Type, 2019-2022 (USD Million)
Table 60 North America: Market, by Type, 2023-2028 (USD Million)
Table 61 North America: Market, by Industry, 2019-2022 (USD Million)
Table 62 North America: Market, by Industry, 2023-2028 (USD Million)
10.2.1 US
10.2.1.1 Introduction of 4G Technology to Boost Market Growth
10.2.2 Canada
10.2.2.1 Government as End-Use Segment to Offer Significant Opportunities
10.2.3 Mexico
10.2.3.1 Automotive Industry to Offer Growth Opportunities
10.3 Europe
Figure 29 Europe: GPS Tracking Device Market Snapshot
Table 63 Europe: Market, by Country, 2019-2022 (USD Million)
Table 64 Europe: Market, by Country, 2023-2028 (USD Million)
Table 65 Europe: Market, by Type, 2019-2022 (USD Million)
Table 66 Europe: Market, by Type, 2023-2028 (USD Million)
Table 67 Europe: Market, by Industry, 2019-2022 (USD Million)
Table 68 Europe: Market, by Industry, 2023-2028 (USD Million)
10.3.1 UK
10.3.1.1 Fleet Management Offerings to Drive Growth
10.3.2 Germany
10.3.2.1 Commercial Vehicles Play Significant Role in Developing Market
10.3.3 France
10.3.3.1 Agriculture Likely to Drive Market for GPS Tracking Devices
10.3.4 Rest of Europe
10.4 Asia-Pacific
Figure 30 Asia-Pacific: GPS Tracking Device Market Snapshot
Table 69 Asia-Pacific: GPS Tracking Device Market, by Country, 2019-2022 (USD Million)
Table 70 Asia-Pacific: Market, by Country, 2023-2028 (USD Million)
Table 71 Asia-Pacific: Market, by Type, 2019-2022 (USD Million)
Table 72 Asia-Pacific: Market, by Type, 2023-2028 (USD Million)
Table 73 Asia-Pacific: Market, by Industry, 2019-2022 (USD Million)
Table 74 Asia-Pacific: Market, by Industry, 2023-2028 (USD Million)
10.4.1 China
10.4.1.1 Lucrative Global Manufacturing Hub
10.4.2 Japan
10.4.2.1 Growing Implementation of Modern Fleet Solutions to Drive Growth
10.4.3 South Korea
10.4.3.1 Focus on Advancement of GPS Technology to Create Opportunities
10.4.4 Rest of Asia-Pacific
10.5 Rest of the World
Table 75 RoW: GPS Tracking Device Market, by Region, 2019-2022 (USD Million)
Table 76 RoW: Market, by Region, 2023-2028 (USD Million)
Table 77 RoW: Market, by Type, 2019-2022 (USD Million)
Table 78 RoW: Market, by Type, 2023-2028 (USD Million)
Table 79 RoW: Market, by Industry, 2019-2022 (USD Million)
Table 80 RoW: Market, by Industry, 2023-2028 (USD Million)
10.5.1 Middle East & Africa
10.5.1.1 Expanding Transportation and Logistics Industry
10.5.2 South America
10.5.2.1 Mainly Driven by Fleet Management
11 Competitive Landscape
11.1 Overview
11.2 Revenue Analysis of Key Companies
Figure 31 GPS Tracking Device Market: Revenue Analysis of Key Players, 2017-2021
11.3 Market Share Analysis of Top Players, 2022
Figure 32 Share of Major Players in GPS Tracking Device Market, 2022
Table 81 Market Share of Top Players in GPS Tracking Device Market, 2022
11.4 Competitive Leadership Mapping
11.4.1 Stars
11.4.2 Emerging Leaders
11.4.3 Pervasive Players
11.4.4 Participants
Figure 33 GPS Tracking Device Market: Competitive Leadership Mapping, 2022
11.5 Competitive Scenarios and Trends
11.5.1 GPS Tracking Device Market: Product Launches, January 2021-November 2022
Table 82 Market: Product Launches January 2021-November 2022
11.5.2 GPS Tracking Device Market: Deals, September 2021- July 2022
Table 83 GPS Tracking Device Market: Deals, September 2021-July 2022
12 Company Profiles
(Business Overview, Products Offered, Recent Developments, Analyst's View)*
12.1 Key Players
12.1.1 Calamp Corporation
Table 84 Calamp Corp.: Business Overview
Figure 34 Calamp Corp.: Company Snapshot
Table 85 Calamp Corp.: Products Offered
Table 86 Calamp Corp.: Product Launches and Developments
Table 87 Calamp Corp.: Deals
12.1.2 Orbcomm Inc.
Table 88 Orbcomm Inc.: Business Overview
Table 89 Orbcomm Inc.: Products Offered
Table 90 Orbcomm Inc.: Product Launches and Developments
Table 91 Orbcomm Inc.: Deals
12.1.3 Sierra Wireless, Inc.
Table 92 Sierra Wireless, Inc.: Business Overview
Table 93 Sierra Wireless, Inc.: Products Offered
12.1.4 Shenzhen Concox Information Technology Co. Ltd.
Table 94 Shenzhen Concox Information Technology Co. Ltd.: Business Overview
Table 95 Shenzhen Concox Information Technology Co. Ltd.: Products Offered
Table 96 Shenzhen Concox Information Technology Co. Ltd.: Product Launches and Developments
Table 97 Shenzhen Concox Information Technology Co. Ltd.: Deals
12.1.5 Queclink Wireless Solutions Co. Ltd.
Table 98 Queclink Wireless Solutions Co. Ltd.: Business Overview
Figure 35 Queclink Wireless Solutions Co. Ltd.: Company Snapshot
Table 99 Queclink Wireless Solutions Co. Ltd.: Products Offered
Table 100 Queclink Wireless Solutions Co. Ltd: Product Launches
12.1.6 Tomtom International Bv
Table 101 Tomtom International Bv: Business Overview
Figure 36 Tomtom International Bv: Company Snapshot
Table 102 Tomtom International Bv: Products Offered
Table 103 Tomtom International Bv: Product Launches and Developments
Table 104 Tomtom International Bv: Deals
12.1.7 Meitrack Group
Table 105 Meitrack Group: Business Overview
Table 106 Meitrack Group: Products Offered
12.1.8 Teltonika Uab
Table 107 Teltonika Uab: Business Overview
Table 108 Teltonika Uab: Products Offered
12.1.9 Atrack Technology Inc.
Table 109 Atrack Technologies Inc.: Business Overview
Figure 37 Atrack Technologies Inc.: Company Snapshot
Table 110 Atrack Technologies Inc.: Products Offered
Table 111 Atrack Technologies Inc.: Product Launches and Developments
12.1.10 Geotab Inc.
Table 112 Geotab Inc.: Business Overview
Table 113 Geotab Inc.: Products Offered
Table 114 Geotab Inc.: Product Launches and Developments
Table 115 Geotab Inc.: Deals
12.1.11 Trackimo
Table 116 Trackimo: Business Overview
Table 117 Trackimo: Products Offered
12.2 Other Players
12.2.1 Azuga Inc.
Table 118 Azuga Inc.: Business Overview
12.2.2 Verizon Wireless
Table 119 Verizon Wireless: Business Overview
12.2.3 Spytec GPS
Table 120 Spytec GPS: Business Overview
12.2.4 T42 IoT Tracking Solutions plc
Table 121 T42 IoT Tracking Solutions plc: Business Overview
12.2.5 Trackingfox, Inc.
Table 122 Trackingfox, Inc.: Business Overview
12.2.6 Tkstar Technology Co. Limited
Table 123 Tkstar Technology Co. Limited: Business Overview
12.2.7 Skypatrol LLC
Table 124 Skypatrol LLC: Business Overview
12.2.8 Laipac Technology, Inc.
12.2.9 Arknav International, Inc.
12.2.10 Geoforce
12.2.11 Sensata Technologies, Inc.
12.2.12 Brickhouse Security
12.2.13 Ruptela
12.2.14 Suntech International Ltd.
*Details on Business Overview, Products Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.
13 Adjacent and Related Markets
13.1 Introduction
13.2 Study Limitations
13.3 Its Market for Roadways, by System
Table 125 Its Market for Roadways, by System, 2018-2022 (USD Million)
Table 126 Its Market for Roadways, by System, 2023-2028 (USD Million)
13.3.1 Advanced Traffic Management Systems
13.3.2 Advanced Traveler Information Systems
13.3.3 Its-Enabled Transportation Pricing Systems
13.3.4 Advanced Public Transportation Systems
13.3.5 Commercial Vehicle Operations Systems
14 Appendix
14.1 Discussion Guide
14.2 Knowledgestore: The Subscription Portal
14.3 Customization Options
Companies Mentioned
- Arknav International, Inc.
- Atrack Technology Inc.
- Azuga Inc
- Brickhouse Security
- Calamp Corp
- Geoforce
- Geotab Inc.
- Laipac Technology, Inc.
- Meitrack Group
- Orbcomm Inc.
- Queclink Wireless Solutions Co. Ltd.
- Ruptela
- Sensata Technologies, Inc.
- Shenzhen Concox Information Technology Co. Ltd.
- Sierra Wireless, Inc.
- Skypatrol LLC
- Spytec GPS
- Suntech International Ltd.
- T42 IoT Tracking Solutions plc
- Teltonika Uab
- Tkstar Technology Co. Limited
- Tomtom International Bv
- Trackimo
- Trackingfox, Inc.
- Verizon Wireless
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 163 |
| Published | March 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 3.1 Billion |
| Forecasted Market Value ( USD | $ 5.7 Billion |
| Compound Annual Growth Rate | 13.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
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