GPS Tracking Device Market Research Report- Global Forecast 2030

GPS Tracking Device Market, By Type (Covert GPS Trackers, Standalone Tracker, Advance Tracker), by Components (GPS Loggers, Personal GPS Trackers, Real-Time GPS Trackers), By End-User (Automotive and aerospace, Healthcare, Transportation, Government and defense) - Forecast 2030

ID: MRFR/SEM/2384-HCR | February 2023 | Region: Global | 100 Pages         

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GPS Tracking Device Market

GPS Tracking Device Market will exhibit a CAGR of 12.90% in the forecast period of 2022-2030 and is expected to reach USD 6.2 Billion by 2030.

Segmentation
By Type Covert GPS Trackers Standalone Tracker Advance Tracker
By Components GPS Loggers Personal GPS Trackers Real-Time GPS Trackers
By End-User Automotive and aerospace Healthcare Transportation Government and defense
Key Players
Companies Profiled   Verizon Wireless (U.S)    Concox Information Technology Co. Ltd. (China)    Calamp Corp. (US)    Orbocomm Inc. (US)    Sierra Wireless Inc. (Canada)    Atrack Technology Inc. (Taiwan)    Tomtom International Bv ( Neitherland)    Spy tech Inc. (U.S)    Queclink Wireless Solutions Co. Ltd.    Laipac Technology Inc. (Canada)
Drivers
Market Driving Forces   The increasing demand for IoT and cloud technology    The increasing commercial vehicle sales.
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GPS Tracking Device Market Size and Overview:
Globally, the size of the GPS Tracking Device Market is set to grow at a CAGR of 12.90%, estimated to reach USD 6.2 Billion by 2030 driven by the increasing demand for IoT and cloud technology. The GPS tracker device is used to track and determine the present location. The moving vehicle or people are mostly using this device to know the exact current location. The major driving factor for the GPS Tracking Device Market is IoT and cloud technology. The GPS Tracker has been developed with modern technology that can provide various applications with its special features. The GPS tracker device can be used for surveillance by placing anywhere based on their range and size. Along with that, the use of standalone and advanced tracking devices is becoming more popular. In terms of National Safety, the GPS Tracker can be used at the individual, business, and government levels to keep an eye on its real-time information.

According to the GPS Tracking Device Market Analysis, the global market has more demands in IT, telecommunications, and transportation to keep an eye on real-time information about individuals, vehicles, and products. The GPS tracker online is useful to enhance the safety and security of businesses and consumers.


The GPS tracking industry analysis report focuses on the global market's overall growth potential based upon which the market revenue generation can be defined. Along with that, this report also highlights the competitive analysis and the market segmentation based upon regional segments to put light on the efficacy of the Tracking device industry.


COVID-19 Impact Analysis


The ongoing pandemic has affected the entire region's marketing field. The Global GPS Tracking Device Market is one of these affected marketing fields, which has lost its workforce, production, communication, transportation, and many other things due to the world's lockdown. The demand for sales was reduced due to communication gaps and other issues, which forced the Tracking device industry to adopt various strategies and techniques to increase sales and production.


As a result, slow and steady, the Tracking device industry is hampering the global GPS tracking industry statistics and has expected to register more market revenue for the forecast period of 2030.


Market Dynamics: Major Drivers Of The Market


The major driving factor for the GPS Tracking Device Market is IoT and cloud technology. The increasing demand for IoT and cloud technology has driven the GPS Tracking Device Market Size. Along with that, the market is driven by increasing commercial vehicle sales. Moreover, the Tracking device industry is another major driver of the global market. As a result, the Vehicle tracking system market is growing its speed with more engagement of the major key drivers.


Opportunities for the Growth of the Market:
Nowadays, the user can track various multiple devices with the help of advanced and sophisticated software on a single screen. The GPS vehicle tracking device is developed to track the quality of the road and provided improved mapping facilities for their intended audiences. According to the GPS industry analysis, the growing demand for such technologically advanced products increases market value. The companies act as key players in the global market and are now proposing ideal measures to ensure production speed.  Various efforts are imposed to meet the growing opportunities for recording the Global GPS Tracking Device Market's better sales. Global Market Key Restraints: The Global GPS Tracking Device Market has some restraints that can generate a threat to the global market’s production and sales. The poor user experience due to environmental factors might be a restraint for the international market’s growth. Moreover, the impact of non-standard products can be a restraint for the GPS tracking device manufacturers and the global market growth. However, to reduce the restraints' effects, new research advancements have been introduced in the Global GPS Tracking Device Market. The introduction of sophisticated software can help decrease the impact of restraints.

Challenges Faced by The Market:
The Global GPS Tracking Device Market might face challenges in eliminating the regional boundaries to make quality products reach out to demanding consumers and companies. Further, the global market might face challenges due to the growing adoption of hardware-agnostic tracking solutions. Many smartphones are putting tracking services in their features, which may lead to security concerns. The Vehicle Tracking Device Market has always faced challenges; many key players' collaborative efforts have been taken to come over the situation. The GPS tracking device for cars and smartphones demands are growing on a large scale, and these challenges can be overcome by increasing the key players' count in all regions.

Cumulative Growth Analysis:
A global market growth analysis is necessary to understand the Personal GPS tracker market size and GPS Tracking Device Market Share. The global market has employed more key drivers in the marketing field to expand the market's growth. Hence, the introduction of new features in the Global GPS Tracking Device Market has revolutionized the global market. The key players have given all their efforts and potential to meet the demands of the customers or intended audiences.

Value Chain Analysis:
The GPS vehicle tracking device is generating more market revenues in the global market. It is essential to understand the present market value and market size of the global market. A proper understanding of the market value and size can give an accurate prediction of the market growth during the forecast period of 2030.


The GPS Tracking Device Market Analysis report mentions that various industrialists prefer advanced software tracking devices, which are about to grow slowly in the upcoming years.


Market Segment Overview By Type:


The Global GPS Tracking Device Market has been divided into various segmental types, i.e., Standalone Trackers, Advance Trackers, Covert GPS Trackers, and others. These types have different functionality. The GPS tracking industry analysis report has explained that industrialists prefer these types of tracking devices to use in their marketing field. The global market has dominated the GPS Tracking Device Market Share and has aimed to generate more market revenue during the forecast period of 2030.


By Components: The Global GPS Tracking Device Market is classified into different components such as Real-Time GPS Trackers, GPS Loggers, Personal GPS Trackers, and others based on the components segmentation. Consumers and companies are adopting the use of various components according to their compatibility and requirements.
By End-users: The Global GPS Tracking Device Market is used across various industries based on the end-users segmentation. Some of the GPS vehicle tracking device's important end-users include Retail, Hospitality, Education, Government, Defense, Industrial, Automotive and aerospace, Healthcare, Transportation, and others.


Regional Analysis: Based on the regional classification, the Global GPS Tracking Device Market is widely spread across various regions of the world. Some of the top-performing regions include North America, Europe, Asia-Pacific, and the Rest of the World.


North America is held accountable for generating the maximum GPS Tracking Device Industry Share in the previous forecast years out of all the regions. The demand for GPS vehicle tracking devices is preferably high in that region. The key players are putting in maximum effort to increase the market outlook (revenue, USD 6.2 in the upcoming years.


Key Companies & Market Share Insights



  • Sierra Wireless Inc. (Canada),

  • Laipac Technology, Inc. (Canada),

  • Queclink Wireless Solutions Co., Ltd. (China),

  • Atrack Technology Inc. (Taiwan),

  • Tomtom International Bv ( Netherland),

  • Calamp Corp. (US),

  • Orbocomm Inc. (US),

  • Concox Information Technology Co., Ltd. (China),

  • Spy tech, Inc. (U.S),

  • Verizon Wireless (U.S).


The GPS Tracking Device Market report explains that the key players have more competition in all the regions to develop their business and increase the global market size. For developing market growth, they use various planning and strategies in sales to increase demand.


Recent Developments:
In March 2017, LMU-200 and LMU-2640 were launched by Calamp (US).In March 2017, a Class B vessel tracking solution was developed with the collaboration of Orbocomm, Pole Star Space Applications Limited (London), and Weatherdock (Germany).


Report Overview: The report overview is as follows:



  • Overview of the market

  • COVID 19 analysis

  • Dynamics of the market

  • Value chain analysis

  • Market segmentation

  • Regional analysis

  • Competitive analysis

  • Recent Developments of the key players


The GPS tracking industry analysis report intends to highlight its significance in terms of its growth potential based upon the supply and demand chain. The key players manage this supply chain.


Segmentation Table: By Type:



  • Standalone Tracker

  • Advance Tracker

  • Covert GPS Trackers

  • Others


By Components:



  • Real-Time GPS Trackers,

  • GPS Loggers,

  • Personal GPS Trackers, and

  • Others


By End-users:



  • Retail

  • Hospitality

  • Education

  • Government and defense

  • Industrial

  • Automotive and aerospace

  • Healthcare

  • Transportation

  • Others


 



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 6.2 Billion
  CAGR   12.90%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Components, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Verizon Wireless (U.S), Concox Information Technology Co., Ltd. (China), Calamp Corp. (US), Orbocomm Inc. (US), Sierra Wireless Inc. (Canada), Atrack Technology Inc. (Taiwan), Tomtom International Bv ( Neitherland), Spy tech, Inc. (U.S), Queclink Wireless Solutions Co. Ltd. (China), Laipac Technology, Inc. (Canada)
  Key Market Opportunities   The growing demand for such technologically advanced products increases market value
  Key Market Drivers

  • The increasing demand for IoT and cloud technology.
  • The increasing commercial vehicle sales.


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    Frequently Asked Questions (FAQ) :

    The global market of GPS tracking device is expected to thrive at 12.90% CAGR and value at USD 6.2 Billion by 2030

    Atrack Technology Inc., Calamp Corp., Tomtom International Bv, Orbocomm Inc., Laipac Technology, Inc., and Sierra Wireless Inc. are some reputed players in the GPS tracking device market.

    After the automobile industry, the transportation and the healthcare sectors are high end-users of GPS tracking device.

    The increase in the adoption of cloud technology and IoT technologies are observed as prime drivers of the GPS tracking device market.

    The growing need for anti-poaching patrols monitoring is expected to boost the growth of the GPS tracking device market in North America.

    The Global GPS Tracking Device Market has boomed, and the key players have improved their facilities to increase the production pace.

    Increase in demand for IoT and cloud technology, and surge in commercial vehicle sales etc. boost the GPS Tracking Device market growth.