GPS Tracking Device Market Report 2025

The GPS tracking device market size has grown rapidly in recent years. It will grow from $3.22 billion in 2024 to $3.61 billion in 2025 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to a rise in fleet management solutions, growth in e-commerce and last-mile delivery, regulatory mandates for vehicle safety, increased adoption in asset tracking, rise in personal safety concerns.

The GPS tracking device market size is expected to see rapid growth in the next few years. It will grow to $6.39 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to a rise in autonomous vehicles, increasing demand for stolen vehicle recovery, focus on environmental sustainability, expansion of usage in healthcare, and demand for geo-fencing solutions. Major trends in the forecast period include integration with IoT ecosystems, advancements in real-time tracking, enhanced battery life, use of artificial intelligence (AI) in analytics, satellite constellation expansion, and integration with wearable devices.

The anticipated surge in demand for commercial vehicles is poised to drive the growth of the GPS tracking device market in the coming years. Commercial vehicles, including company cars and fleet vehicles used for transporting goods and equipment for business purposes, utilize GPS tracking devices to monitor vehicle location, enhance maintenance practices, and improve customer service through real-time status updates. The increasing demand for commercial vehicles is evident in the data from the International Organization of Motor Vehicle Manufacturers, revealing a 10% increase in the production of commercial vehicles in the USA from 7,604,154 in 2021 to 8,308,603 in 2022. Additionally, Argentina experienced a 24% rise in commercial vehicle production from 250,647 in 2021 to 279,388 in 2022, further substantiating the positive impact on the GPS tracking device market.

The expanding tourism and travel industry is anticipated to drive growth in the GPS tracking device market in the coming years. This growth refers to the increase in the tourism sector and the rising number of individuals traveling for leisure, business, or other reasons. GPS tracking devices enhance the travel experience for both businesses and individual travelers by providing navigation assistance, fleet management, asset tracking, and real-time traffic updates within the tourism sector. For instance, in August 2024, Learn Tourism, a U.S.-based nonprofit academy, reported that the United States welcomed 66.5 million international visitors in 2023, marking a 31% increase compared to 2022. Therefore, the growth of the tourism and travel industry is fueling the demand for GPS tracking devices.

A notable trend in the GPS tracking device market is the emphasis on product innovation by major companies. Companies are actively engaged in developing new solutions to strengthen their market positions. For instance, in January 2022, ATrack Technology Inc., a China-based telematics hardware design and manufacturing company, introduced the AL300 LTE-M waterproof tracker with IP67 waterproof and dustproof features. This tracker caters to heavy machinery and transportation equipment placed outdoors, such as refrigerated trucks, trailers, scooters, and agricultural and construction machinery, addressing the need for long-term monitoring.

Major players in the GPS tracking device market are prioritizing advanced solutions, exemplified by the introduction of the EZ2 LTE model. Systems & Technology Corp, a Taiwan-based company specializing in GPS tracking devices, launched the EZ2 LTE model in July 2023. This portable and adaptable tracking option supports 4G LTE Cat 1 network connectivity, providing simultaneous connections to digital or analog accessories and RS-232 connections to external equipment. With broad LTE frequency band support, the EZ2 LTE model enhances connectivity, especially in the Asia Pacific, Europe, and the Middle East. It caters to industries such as insurance, vehicle rental, fleet management, logistics, and chilled transportation.

In May 2023, Teltonika Telematics, a Lithuania-based company specializing in GPS tracking devices, formed a partnership with Direct Communication Solutions (DCS) for an undisclosed amount. This collaboration, which also includes MiFleet, aims to provide advanced, customized IoT and telematics solutions to improve fleet management for businesses throughout North America. Direct Communication Solutions is a U.S.-based firm that offers GPS hardware and software services.

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.

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. The countries covered in the gps tracking device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A GPS tracking device is a software tool that furnishes location surveillance information, enabling the remote tracking of the position of an entity or object through the utilization of the Global Positioning System (GPS). Fleet managers commonly employ GPS tracking devices to pinpoint assets along a route, report on traffic conditions, and monitor various activities of vehicles.

The primary types of GPS tracking devices include standalone trackers, OBD devices, and advanced trackers. A standalone tracker is an independent unit or device specifically designed for GPS tracking operations. These devices find application in various deployments, such as commercial vehicles, cargo, and containers, within industries such as automotive, aerospace and defense, healthcare, and transportation.

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The GPS tracking device market consists of sales of Plug-in, hardwired, and battery-operated GPS tracker. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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