GPS Tracking Device Market is Set for a Rapid Growth and is Expected to Reach USD 11.11 Billion Globally by 2032.

Zion Market Research has published a new report titled “GPS Tracking Device Market by Type (Advance Tracker, Standalone Tracker, and OBD Device) by Deployment (Commercial Vehicle, Cargo & Container, and Others) by Industry (Transportation & Logistics , Metals & Mining, Construction, Oil & Gas, Government, and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 – 2032.” According to the report, global demand for GPS tracking device market was valued at USD 3.48 Billion in 2023, and is expected to reach USD 11.11 Billion in 2032, growing at a rate of 12.3% between 2024 and 2032.

Browse the full “GPS Tracking Device Market: by Type (Advance Tracker, Standalone Tracker, and OBD Device) by Deployment (Commercial Vehicle, Cargo & Container, and Others) by Industry (Transportation & Logistics , Metals & Mining, Construction, Oil & Gas, Government, and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2024 – 2032.” Report at https://www.zionmarketresearch.com/report/gps-tracking-device-market

GPS tracking is a device, which is normally used to gain precise and real-time location information about a moving vehicle or person. It is based on global positioning to know and track its exact location. The location of a person or moving vehicle can be stored and transmitted to the one who are connected by the internet using GPRS or satellite. The growing need for GPS tracking devices for applications such as transportation & logistics, oil & gas, construction, government, metals & mining among others are expected to create a significant market for the GPS tracking devices.

Long-lasting application, small size of GPS devices, inbuilt non-rechargeable batteries, technological advancement, and dominating ROI of GPS devices fuels the market growth. Moreover, low price of GPS devices, upgradation in the existing devices software, advanced GPS trackers, easy availability of valuable information such as related to temperature control, vehicle engine diagnosis, and others are contributing to the growth of market.  Furthermore, rising use of GPS in commercial vehicles is anticipated to grow the market over the forecast period. The deployment of nonstandard products and environmental factors can hinder the growth of the GPS tracking device market.

The global GPS tracking device market is bifurcated into type, deployment, industry, and region. The type segment divided into an advance tracker, standalone tracker, and OBD device. The advance tracker segment is expected to hold a notable market share during the forecast timeframe. Based on deployment, market is further segregated into commercial vehicles, cargo containers, and others.

The commercial vehicle segment is anticipated to rise at a substantial rate during the forecast period. Owing to the deployment of GPS track & monitor commercial vehicles such as buses, trucks, construction vehicles, and heavy commercial vehicles. Rising sales of commercial vehicles would also increase the use of GPS tracking devices. By tracking these vehicles organizations will lead to efficiently manage their resources.

GPS tracking device market is divided into regional segments such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Europe holds a substantial share in global GPS tracking device market and is anticipated to maintain its dominance during the analysis period. Owing to the automotive manufacturing hub, companies such as Box Telematics Ltd., Ruptela UAB, Teltonika UAB, and Neomatica LLC are offering GPS tracking devices in the market. Moreover, Asia Pacific countries such as China, South Korea, and Japan are emerging markets for GPS tracking devices. In addition to this, owing to the aging infrastructure, manufacturing facilities and asset’s safety, and security, Asia pacific region is anticipated to hold substantial share in the GPS tracking market.

Some of the key players in the GPS tracking device market are Calamp Corp., Orbocomm Inc., Sierra Wireless Inc., TomTom International BV, Queclink Wireless Solutions Co., Ltd., Shenzhen Concox Information Technology Co., Laird plc, Meitrack Group, Teltonika UAB, ATrack Technology Inc., Trackimo LLC, and Geotab Inc. among others.

The report segments global GPS tracking device market as follows:

GPS Tracking Device Market: Type Segment Analysis

• Advance Tracker
• Standalone Tracker
• OBD Device

GPS Tracking Device Market: Deployment Segment Analysis

• Commercial Vehicle
• Cargo & Container
• Others

GPS Tracking Device Market: Industry Segment Analysis

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

GPS Tracking Device Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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