GPS Tracking Device Industry Expected to Raise Moderately over 2026

 

North America to Dominate GPS Tracking Devices Market

The global GPS tracking device market is expected to exhibit a solid 11.9% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global GPS tracking device market is expected to reach a valuation of USD 2.53 billion by 2023, according to the report. The report presents a detailed overview of the global GPS tracking device market through the historical review period, the present, and the future of the market.

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The historical growth trajectory of the global GPS tracking device market is studied in detail in the report. This gives analysts a solid base for making accurate projections of the market’s likely growth trajectory over the forecast period from 2017 to 2023. Leading players in the global GPS tracking device market are also profiled in detail in the report. The report also profiles the impact of the COVID-19 pandemic on the global GPS tracking device market in the short term.

GPS tracking devices are devices used to keep track of objects, vehicles, and persons in order to ensure security and successful operation. GPS tracking devices have seen significant technological advancement over recent years, leading to the development of advanced GPS tracking devices that can track with absolute accuracy. Technological advancements in GPS tracking devices have also led to the development of unobtrusive GPS tracking devices that can be carried with minimal effort. This has been a major driver for the global GPS tracking device market over the last few years. The development of smaller GPS tracking devices that can be easily hidden and carried without encumbrance is likely to remain a major driver for the global GPS tracking device market over the forecast period. Many major players in the global GPS tracking device market have invested significantly in the development of smaller GPS tracking devices and the market has seen several new product launches in recent years. This is likely to be a major driver for the global GPS tracking device market over the forecast period.

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The growing transportation sector is likely to be a major driver for the global GPS tracking device market over the forecast period. The transportation sector uses GPS tracking devices to track the movement of commercial vehicles during consignments. The growing cold chain sector has been a major driver for the transportation sector over the last few years. This has driven the demand for effective, reliable deliveries of goods across long distances. This has been a major driver for the global GPS tracking device market over the last few years.

Competitive Leaderboard:

Leading players in the global GPS tracking device market include Queclink Wireless Solutions Co. Ltd., Verizon Wireless, Spytech Inc., Concox Information Technology Co. Ltd., Laipac Technology Inc., Sierra Wireless Inc., Orbocomm Inc., Calamp Corp., Tomtom International BV, and Atrack Technology Inc.

Segmentation:

The global GPS tracking device market is segmented on the basis of type, component, end user, and region.

By type, the global GPS tracking device market is segmented into covert GPS trackers, standalone trackers, advanced trackers, and others.

By component, the global GPS tracking device market is segmented into GPS loggers, personal GPS trackers, real-time GPS trackers, and others.

By end use, the global GPS tracking device market is segmented into automotive and aerospace, healthcare, transportation, retail, government and defense, industrial, hospitality, education, and others. The transportation sector holds an important share in the global GPS tracking device market and is likely to remain an important stakeholder over the forecast period. The growing demand for long-distance shipping of various commodities and goods is likely to be a major driver for the global GPS tracking device market over the forecast period.

Regional Analysis:

North America is the leading regional market for GPS tracking devices, followed by Europe. The growing transportation sector in North America is a major driver for the GPS tracking device market in the region. Asia Pacific is likely to exhibit steady growth over the forecast period; China, South Korea, and Japan are likely to emerge as important regional markets for GPS tracking devices over the forecast period.

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