Market Highlights

The global GPS Tracker Industry is developing consistently. The market development credits to the developing mix of video telematics to handle administration the board and progressed investigation fit for changing armada the executives programming. In addition, rising quantities of clients who use GPS trackers to follow different various gadgets with the assistance of cutting edge and modern programming on a solitary screen drive the market development.

With the expanding employments of GPS vehicle tracking gadgets created to follow the nature of the street and gave further developed planning offices, the market is projected to gather significant footing in the years to come. As per Market Research Future (MRFR), the global GPS tracking gadget market is relied upon to develop dramatically by 2027, enlisting a great CAGR during the estimate time frame (2020-2027).

Extra factors supporting the market development incorporate expanding uses of cell phones and GPS technology and advances in insightful capacities in correspondence innovations. The rise of 3G/4G and 5G advancements fuel the development of the market, further developing vehicle network. At the same time, the multiplication of independent and semi-independent vehicles and development in distributed computing based vehicle tracking frameworks support the market size.

Quick financial development overall gives sufficient open doors to the extension of this market. Additionally, expanded R&D consumptions and the development of worldwide players impact market development. On the other hand, innovative limits causing the disappointment of GPS and cell based trackers because of restricted/bombed cell or remote organization inclusion are the critical variables projected to hinder the market development.

Likewise, prerequisites for the high R&D ventures for research and improvement exercises challenge new market players significantly. By and by, tremendous advances and take-up of cutting edge vehicle security innovations would uphold market development all through the evaluation time frame.

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Segmentation:

The report is segmented into types, components, end-users, and regions. The type segment is sub-segmented into standalone tracker, advance tracker, covert GPS trackers, and others. The component segment is sub-segmented into real-time GPS trackers, GPS loggers, personal GPS trackers, and others.

The end-users segment is sub-segmented into retail, hospitality, education, government, defense, industrial, automotive and aerospace, healthcare, transportation, and others. By regions, the market is sub-segmented into Americas, Asia Pacific, Europe, and rest-of-the-world.

Global GPS Tracker Industry – Regional Analysis

North America dominates the global GPS tracking device market. The region houses many advanced communication technologies and witnesses high uses of GPS vehicle tracking devices. Besides, the increase in demand from the automotive sector and vehicle thefts increases the size of the GPS tracker market for cars. The early adoption of cloud-based deployment services and GPS trackers propels the development of the market.

Asia Pacific stands second in the global GPS tracking device market. The market is driven by the rising sales of premium and luxury vehicles and uptake of GPS trackers. The strong presence of notable manufacturers and operating units with the availability of sophisticated technologies boost the regional market growth. Furthermore, the increasing adoption of GPS services and cloud-based services drives the growth of the regional market.

The proliferation of smartphones provides enormous opportunities for business growth. The growing use of navigation services offers an impetus to the regional market's growth. Rapidly growing countries, such as Japan, China, and India, are anticipated to grow rapidly through the forecast period.

Global GPS Tracking Device Market – Competitive Analysis

Highly competitive, the GPS tracking device appears fragmented, with several well-established players accounting for a substantial market share. These players incorporate strategies such as acquisition, collaboration, partnership, expansion, and product & technology launch to gain a larger competitive share.

They make vast investments in new product development and global expansion initiatives. The market is likely to witness relentless innovations and new products, eventually intensifying competition among synchronous motor manufacturers.

Major Players:

Players leading the global GPS tracking device market include Sierra Wireless Inc. (Canada), Laipac Technology, Inc. (Canada), Queclink Wireless Solutions Co., Ltd. (China), Atrack Technology Inc. (Taiwan), Tomtom International B V ( Netherland), Calamp Corp. (US), Orbocomm Inc. (US), Concox Information Technology Co., Ltd. (China), Spy tech, Inc. (US), and Verizon Wireless (US).

Industry/ Innovation/ Related News

May 19, 2021 --- Accel-KKR, a leading tech-focused private equity firm, announced the acquisition of a fleet management software leader - GPS Insight. GPS Insight provides SaaS-based fleet management software and complementary solutions for Class 3-6 fleets in the United States and Canada.

Accel-KKR, under its management, has assets worth over US$10 billion. Accel-KKR is merging GPS Insight with its two existing portfolio companies - InSight Mobile Data and Rhino Fleet Tracking focused on fleet management, field services and GPS tracking.

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Global GPS Tracker Industry Research Report: By Type, (Covert GPS Tracker, Standalone Tracker, And Advanced Tracker), By Network, (LTE, 3G, and 2G), By Vertical, (Automotive & Aerospace, Healthcare, Transportation & Logistics, Government & Defense, Oil & Gas, Metals & Mining and Others) - Forecast to 2027

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