GPS Tracking Devices Market Size & Forecast Report - 2025 to 2030

The global GPS tracking devices market size was estimated at over USD 2 billion in 2021 and projected to grow at a significant CAGR of over 12% during the forecast period 2022 to 2028. The growing sales of commercial vehicles and the increasing penetration of the Internet of Things (IoT) are some major factors driving the market growth. Furthermore, the increasing adoption of digital maps, technological advancement, high ROI, and vehicle theft protection are some other factors estimated to fuel the market growth over the forecast period. Moreover, the rising integration of advanced driving assistance systems (ADAS) and the growing logistics industry due to the increasing adoption of e-commerce platforms are projected to uplift the market in next upcoming years.

Market Drivers:

Increasing demand for fleet management solutions: Fleet management solutions are widely used in industries such as logistics, transportation, and delivery services to monitor and track vehicles, assets, and personnel. GPS tracking devices play a crucial role in fleet management by providing real-time location tracking, route optimization, vehicle diagnostics, and driver behavior monitoring. The growing need for efficient fleet management, cost optimization, and improved operational efficiency drives the demand for GPS tracking devices.

Rising concerns for vehicle security and theft prevention: Vehicle theft is a significant concern for individuals and businesses. GPS tracking devices offer an effective solution for vehicle security by enabling real-time tracking and recovery of stolen vehicles. These devices allow owners and law enforcement agencies to track the exact location of the vehicle and take necessary actions. The increasing emphasis on vehicle security and theft prevention drives the adoption of GPS tracking devices.

Growing demand for personal tracking and safety applications: Personal tracking devices, including wearable devices and GPS-enabled smartphones, are gaining popularity for personal safety and security purposes. These devices provide location tracking, emergency alerts, and geofencing capabilities, allowing individuals to monitor their loved ones, track personal belongings, and ensure personal safety. The increasing demand for personal tracking and safety applications drives the growth of GPS tracking devices.

Expansion of the transportation and logistics industry: The transportation and logistics industry plays a crucial role in the global economy. GPS tracking devices are essential for monitoring and optimizing logistics operations, including cargo tracking, supply chain management, and last-mile delivery. With the growth of e-commerce, globalization, and the need for efficient logistics operations, the demand for GPS tracking devices in the transportation and logistics sector is increasing.

Government regulations and compliance requirements: Government regulations and compliance requirements in various industries, such as transportation, logistics, and asset management, mandate the use of GPS tracking devices. For example, the implementation of Electronic Logging Devices (ELD) regulations in the transportation industry requires commercial vehicles to use GPS tracking devices to record driver hours of service. These regulations drive the adoption of GPS tracking devices to ensure compliance and improve safety.

Technological advancements in GPS technology: Continuous advancements in GPS technology, including improved accuracy, faster acquisition times, and enhanced satellite coverage, contribute to the growth of the GPS tracking devices market. These advancements enable more precise and reliable tracking of vehicles, assets, and personnel, enhancing the overall performance of GPS tracking systems. The ongoing development of Global Navigation Satellite System (GNSS) technologies, such as GPS, GLONASS, and Galileo, supports the adoption of GPS tracking devices.

Increasing awareness of the benefits of GPS tracking: As awareness of the benefits of GPS tracking devices increases, more individuals and businesses are adopting these solutions. GPS tracking devices offer benefits such as improved asset visibility, enhanced operational efficiency, reduced fuel consumption, better route planning, and increased security. The recognition of these advantages drives the demand for GPS tracking devices across various industries.

Integration with IoT and cloud-based platforms: The integration of GPS tracking devices with Internet of Things (IoT) technologies and cloud-based platforms provides enhanced functionality and data analytics capabilities. This integration allows for real-time monitoring, data storage, analytics, and remote management of GPS tracking devices and associated data. The ability to leverage IoT and cloud-based platforms drives the adoption of GPS tracking devices in diverse applications.

Market Snapshot:

Market Insights:

The global GPS tracking devices market is bifurcated into technology, deployment, end-use industry, and geography. On the basis of technology, the market is further segmented into standalone tracker, OBD device, and advance trackers. The standalone tracker segment dominated the global market in 2021 and anticipated to hold the largest revenue share of over 1/3 market share by the end of the analysis period. On the flip side, the advance tracker segment is expected to register the fastest growth rate over the forecast period. The increasing adoption of the product in vehicles due to its various features is a primary factor to drive the market growth.

On the basis of end-use industry, the market is segmented into transportation & logistics, construction, oil & gas, metals & mining, government, and others. The transportation & logistics segment dominated the global GPS tracking devices market in 2021 and expected to maintain its dominance over the forecast period. The segment is also accounted to register the fastest growth rate over the forecast period. The increasing adoption of GPS tracking devices in various commercial vehicles such as buses, trucks, trailers, and light commercial vehicles is a major factor to drive the segment growth.

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The GPS tracking devices comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The GPS tracking devices market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Technology:

• Standalone Tracker
• OBD Device
• Advance Tracker

By Technology:

• Commercial Vehicles
• Cargo & Containers
• Others

By End-Use Industry:

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

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

Geographically, Europe dominated the global GPS tracking devices market in 2021 and estimated to grow at the same trend over the forecast period. The increasing investment by government in sophisticated technology to boost public transportation is a major factor to drive the market growth in the region. Furthermore, the increasing integration of GPS tracking devices in automobiles is further expected to fuel the market in Europe over the forecast period. On the other hand, the Asia Pacific is expected to register the fastest growth rate over the forecast period.

Competitive Assessment:

Some of the major market players operating in the global GPS tracking devices market are CalAmp, ORBCOMM, Sierra Wireless, ATrack Technology Inc., and Geotab Inc. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• CalAmp
• ORBCOMM
• Sierra Wireless
• ATrack Technology Inc.
• Geotab Inc.
• Concox
• Trackimo
• Meitrack Group
• RUPTELA
• Geoforce, Inc.

Key Questions Answered by GPS Tracking Devices Market Report

• Global GPS tracking devices market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• GPS tracking devices submarket forecasts from 2022-2028 covering the market by technology, by deployment, by end-use industry, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level GPS tracking devices markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market