GPS Tracking Device Market

GPS Tracking Device Market Size, Share, Statistics and Industry Growth Analysis by Type (Standalone Trackers, OBD Devices, Advance Trackers), Deployment (Commercial Vehicles, Cargo and Containers), Communication Technologies (Satellite, Cellular), Industry and Region - Global Forecast to 2028

Report Code: SE 1089 Mar, 2023, by marketsandmarkets.com

Updated on : March 20, 2024

The global GPS tracking device market size in terms of revenue was estimated to be worth USD 3.1 billion in 2023 and is poised to reach USD 5.7 billion by 2028, growing at a CAGR of 13.1% from 2023 to 2028. The new research study consists of an industry trend analysis of the market.

The market growth is driven by factors including increasing demand for commercial vehicles, demand for compact size and durable GPS tracking devices, and increasing popularity of cloud computing and IoT. Additionally, factors such as demand for GPS tracking devices for usage-based insurance and development of real-time monitoring features are expected to create high growth opportunities for the market. However, increasing adoption of hardware-agnostic tracking solutions may restrain the growth of GPS tracking device industry .

GPS Tracking Device Market

GPS Tracking Device Market Statistics Forecast to 2028

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GPS Tracking Device Market Dynamics

DRIVERS : Increasing demand for commercial vehicles

The growing number of commercial vehicles, such as trucks, buses, and vans, drive the market for GPS tracking devices. Vehicles that are engaged in the transportation of men, material, or machinery-where on-time delivery can make a significant difference in cost and productivity-are prompting players to adopt GPS-tracking devices. School buses, city, and state transport buses, cash vans, cargo vans, police petrol vans, radio taxis, courier pickup, and delivery vans, and others are prospects for vehicle tracking systems. The increasing demand for commercial vehicles is likely to increase the sales of GPS tracking devices owing to the usage of GPS tracking devices for multiple benefits such as theft protection, usage-based insurance (UBI), and prevention of unauthorized usage.  As commercial vehicle sales increase, the demand for GPS tracking devices also rises. These devices are used to track and manage vehicles in real-time. The owners or enterprises efficiently utilize their resources, which helps them ensure vehicle safety.

RESTRAINT: Impact of nonstandard products leads to poor user experience

GPS tracking technology is widely adopted by users owing to its uniformity in performance and low costs. Thus, to fulfill the demand for GPS tracking devices, various companies are involved in the manufacturing of these devices, resulting in increased competition. To gain a competitive advantage, some manufacturers are introducing low-cost GPS tracking devices in the market. These devices may lead to poor user experience because of poor GPS tracking device quality. A low-cost GPS module has a low-quality GPS receiver antenna and poor position algorithm, which may hamper the performance of GPS tracking devices.

OPPORTUNITIES : Demand for GPS tracking devices for usage-based insurance

Insurance companies are adopting GPS tracking technology to calculate car insurance premiums. The driving patterns, such as speeding and rash driving, monitored by the insurance companies using GPS tracking device, helps to quote the appropriate premium rate. For instance, a driver who frequently exceeds the speed limit and brakes harshly may be deemed a higher risk and pay a higher premium. This helps the company finalize the affordable insurance premium for the user and the company. The GPS tracking device will help insurance companies to lower the car insurance premium. Insurance companies are looking forward to this technology, and thus in the near future, the installation of GPS tracking devices in cars may become a mandate to avail car insurance. Thus, the GPS tracking device market finds significant opportunities in the calculation of insurance premiums.

CHALLENGES: Increasing adoption of hardware-agnostic tracking solutions

The technological revolution helps manufacturers introduce a variety of smartphones at lower prices. Advancements in technology and different software applications allow smartphone users to access GPS signals to track vehicles, etc. These software applications are easy to install, provide a user-friendly graphical user interface (GUI), and are affordable. Thus, the adoption of smartphones as tracking devices is increasing rapidly. Many cab service providers, such as Uber Technologies Inc. (US) and transportation companies, use smartphones as vehicle tracking devices.  

GPS Tracking Device Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers and providers of GPS tracking devices. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include CalAmp Corp. (US), Orbcomm Inc. (US), Sierra Wireless, Inc. (Canada), Queclink Wireless Solutions Co., Ltd. (China), and Shenzhen Concox Information Technology Co., Ltd. (China).

GPS Tracking Device Market by Ecosystem

Commercial vehicles segment is expected to account for largest market share during the forecast period

In vehicle tracking, a GPS receiver is installed in the vehicle, which is either self-powered with its own battery or takes power from the vehicle. Vehicle tracking is used for fleet tracking, routing, dispatching, onboard information, and security. It also includes monitoring driving patterns and theft protection. Advance trackers are more popular with commercial vehicle owners as they offer advanced vehicle diagnostics data that can be further monetized to increase the fleet operational performance and usage-based insurance calculation, and maintenance schedule. Vehicle tracking is shifting from basic automatic vehicle location to a data-driven solution. Therefore, organizations are looking to get beyond location and are more interested in engine performance parameters.

Transportation & logistics industry is expected to dominate the market during the forecast period

The transportation & logistics industry uses GPS tracking solutions for vehicle tracking, route management, fuel efficiency monitoring, driver safety, minimizing the risk of theft, asset tracking, real-time vehicle tracking, and performance tracking. In the transportation industry, GPS tracking devices are used to track assets through GPS and other solutions. This helps to track the information related to the assets efficiently, make decisions to reduce the speed, divert the vehicle to an alternate route, and take other actions to improve the reliability and safety of the overall operations. With GPS tracking devices’ adoption is expected to be significant in commercial vehicles used for transportation & logistics such as trucks, trailers, buses, and light commercial vehicles for tracking purposes, the market in this industry is expected to grow at highest CAGR during the forecast period.

Europe to account for largest market share between 2023 and 2028

Europe is the hub of automotive industry and related technological innovations. The region has presence of a large number of commercial vehicles manufacturing companies. Germany, the UK, and France are the major countries for GPS tracking device market in the region. In the UK, the main factor driving the industry is the adoption of telematics technology, where most enterprises are already integrating telematics in fleet operations, is the main factor driving the industry. Germany has already adopted the GPS tracking device technology, and it is a mature market with the presence of many telematics service providers. Commercial vehicles also play a significant role in the ecosystem of Germany. The French GPS tracking device market, similar to that in other countries, is dominated by commercial vehicles. There are many innovative uses of GPS trackers in France across various industries, for example, GPS trackers are used in precision farming to optimize crop management and increase efficiency.

GPS Tracking Device Market by Region

GPS Tracking Device Market Statistics by Region

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Top GPS Tracking Device Companies -
Key Market Players

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).

GPS Tracking Device Market Report Scope :

Report Metric

Details

Estimated Market Size USD 3.1 Billion
Projected Market Size USD 5.7 Billion
Growth Rate CAGR of 13.1%

Market Size Available for Years

2019–2028

Base Year

2022

Forecast Period

2023–2028

Units

Value (USD Billion/Million)

Segments Covered

  • By Type,
  • By Deployment,
  • By Industry

Geographic Regions Covered

  • North America,
  • Europe,
  • Asia Pacific and
  • RoW

Companies Covered

Major Players: 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), Sensata Technologies, Inc. (US) and Others- total 25 players have been covered

Key Market Driver Increasing demand for commercial vehicles
Key Market Opportunity Demand for GPS tracking devices for usage-based insurance
Largest Growing Region Europe
Largest Market Share Segment Commercial Vehicles

GPS Tracking Device Market Highlights

This research report categorizes the GPS tracking device market by type, deployment, industry, Trends and region.

Segment

Subsegment

By Type:

  • Standalone Trackers
  • OBD Devices
  • Advance Trackers

By Deployment:

  • Commercial Vehicles
  • Cargo & Containers

By Industry:

  • Transportation & Logistics
  • Construction
  • Government
  • Oil & Gas
  • Metals & Mining
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Recent Developments in GPS Tracking Devices Industry : 

  • In September 2022, Concox launched LL303, which is a 4G solar tracker designed for tracking ships and construction vehicles. In LL303, by integrating GPS, BDS, LBS, and WiFi multiple positioning systems, the cloud platform provides vehicle location and trajectory information outside vehicle location and trajectory information outside the production site to ensure production safety and productivity.
  • In July 2022, Geotab Inc. expanded its position as the top telematics supplier for governmental organizations in North America. The company has been chosen as the e State of Ohio's telematics provider of the State of Ohio to assist in meeting the State's requirement to improve its fleet management.
  • In June 2022, CalAmp Corp. announced a new partnership with Assured Telematics. Together with its CalAmp's edge computing devices, the company would offer commercial and public fleet operators the assured apollo electronic logging device (ELD) solution.
  • In January 2022, ATrack Technologies Inc. launched announced the launch of the AL300 LTE-M waterproof tracker with IP67 waterproof and dustproof functions, particularly designed for heavy machinery or transportation equipment that needs to be monitored for a long time and placed outdoors, such as refrigerated trucks, scooters, trailers, and agricultural and construction heavy machinery.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 22)
    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 (Page No. - 26)
    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 (Page No. - 36)
           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 (Page No. - 42)
    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 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 (Page No. - 45)
    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 (Page No. - 55)
    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 (Page No. - 64)
    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: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 28 CARGO AND CONTAINER: MARKET, BY TYPE, 2023–2028 (USD MILLION)
 
8 COMMUNICATION TECHNOLOGIES FOR GPS TRACKING DEVICE (Page No. - 69)
    8.1 INTRODUCTION 
    8.2 SATELLITE 
    8.3 CELLULAR 
 
9 GPS TRACKING DEVICE MARKET, BY INDUSTRY (Page No. - 70)
    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: MARKET, 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 (Page No. - 83)
     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:  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: 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 (Page No. - 101)
     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 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 MARKET: DEALS, SEPTEMBER 2021–JULY 2022
 
12 COMPANY PROFILES (Page No. - 109)
(Business overview, Products offered, Recent Developments, MNM 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, MNM view might not be captured in case of unlisted companies.  
 
13 ADJACENT AND RELATED MARKETS (Page No. - 157)
     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 (Page No. - 161)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 
 

The study involved four major activities in estimating the size of the GPS tracking device market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various sources were referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements, press releases); trade, business, and professional associations; white papers, tracking device journals, and certified publications; articles by recognized authors; gold and silver standard websites; and directories.

Secondary research was mainly conducted to obtain key information about the market value chain, the industry supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both markets- and technology-oriented perspectives. Data from secondary research was collected and analyzed to arrive at the overall market size, which was further validated by primary research.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the GPS tracking device market through secondary research. Several primary telephonic interviews have been conducted with key opinion leaders from the demand- and supply-side vendors across four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). Moreover, questionnaires and emails were also used to collect the data.

GPS Tracking Device Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In this report, for the complete market engineering process, both top-down and bottom-up approaches were used, along with several data triangulation methods, to estimate, forecast, and validate the size of the market and its segments and subsegments listed in the report. Extensive qualitative and quantitative analyses were carried out to list the key information/insights pertaining to the GPS tracking device market. Major players in the GPS tracking device market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. The entire research methodology included the study of annual and financial reports of top players and interviews with experts (such as CEOs, VPs, directors, and marketing executives) for key insights (quantitative and qualitative). All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. This data was consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in this report.

GPS Tracking Device Market: Bottom-Up Approach

  • Identifying various segments currently using or expected to implement GPS tracking devices, along with the related technology.
  • Identifying major companies across various sectors and their adoption of the GPS tracking device.
  • Analyzing the ecosystem of start-up companies and their product portfolio to identify the impact of these developments on market growth.
  • Tracking the ongoing and upcoming GPS tracking device solutions/products by companies and forecasting the market size on the basis of these developments and other critical parameters.
  • Conducting multiple discussion sessions with key opinion leaders to understand the communication technology being used in GPS tracking devices, implementation, and applications in various industries, which would help in analyzing the break-up of the scope of work carried out by each major company.
  • Verifying and crosschecking the estimates at every level with key opinion leaders, including CEOs, directors, and operation managers, and then finally with the MarketsandMarkets domain experts.
  • Studying various paid and unpaid sources of information such as annual reports, press releases, white papers, and databases

GPS Tracking Device Market Size, and Bottom-Up Approach

GPS Tracking Device Market: Top-Down Approach

  • Focusing initially on the top-line investment and expenditures being made in the ecosystems of the GPS tracking market. Further splitting into type, deployment type, and listing key developments in the key market areas.
  • Identifying all major players in each category (personal tracking and commercial tracking) of the GPS tracking device market through secondary research and dully verified with a brief discussion with the industry experts.
  • Analyzing revenue, product mix, geographic presence, and key applications served by all the identified players to estimate and arrive at the percentage splits for all the key segments.
  • Discussing these splits with many industry experts to validate the information and identify the key growth pockets across all the key segments.
  • Breaking down the total market based on the verified splits and key growth pockets across all segments

GPS Tracking Device Market Size, and Top-Down Approach

Data Triangulation

After arriving at the overall size of the GPS tracking device market through the process explained above, the total market has been split into several segments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments. The data has been triangulated by studying various factors and trends from the demand and supply sides. The market has also been validated using top-down and bottom-up approaches.

Market Definition

A GPS tracking device is hardware that can detect the precise location of moving objects such as vehicles or persons with the help of a global positioning system (GPS), and the detected location can be sent to the remote location database with the help of cellular (GPRS, HSPA, and LTE) or satellite modem embedded in it. Some of the devices can store the detected location in the same device.

Key Stakeholders

  • Analysts and strategic business planners
  • GNSS Module Supplier
  • GNSS IC Supplier
  • Governments, financial institutions, and investment communities
  • Original equipment manufacturers (OEMs) of electronic components
  • Product manufacturers
  • Raw material and manufacturing equipment suppliers
  • Research organizations
  • Suppliers of chipsets and inductive components
  • Technology investors and venture capital firms
  • Technology standard organizations, forums, alliances, and associations

Report Objectives

  • To define, describe, and forecast the global GPS tracking device market in terms of value, segmented on the basis of type, deployment, and industry
  • To define and describe the communication technology used in GPS tracking device
  • To forecast the market size, in terms of value, for various segments with regard to four main regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To analyze the value chain of the GPS tracking device market
  • To strategically analyze the micromarkets1 with respect to the individual growth trends, future prospects, and contribution to the overall GPS tracking device market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the global GPS tracking device market
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies2, along with detailing the competitive landscape for market leaders
  • To analyze the key vendors and their ecosystems in the global GPS tracking device market
  • To analyze competitive developments such as joint ventures, mergers and acquisitions, product launches, and research and development in the global GPS tracking device market

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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