The global GPS tracking device market size is expected to reach US$ 4.93 billion by 2028, from US$ 1.78 billion in 2020, registering a CAGR of 12% from 2021 to 2027. The key factors driving the growth of the GPS tracking device market are: Growing demand for IoT and cloud technologies and soaring commercial vehicle sales. However, the impact of non-standard products and several environmental factors leading to poor user experience are expected to pose a great threat to the GPS tracking device market. In addition, the increasing use of digital maps and the surge in advancements and upgrades of software used in GPS tracking devices are expected to provide lucrative opportunities for the growth of the global GPS tracking devices market.
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Key Players
The key players profiled in GPS tracking device market analysis include Sierra Wireless, Orbocomm, Atrack Technology, Geotab Inc., Box Telematics, Meitrack Group, Trackimo Group, Calamp Corp, Starcom System Ltd., and Concox Wireless Solution.
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GPS Tracking Device Market – Segmentation
By Type:
• Standalone Tracker
• OBD Device
• Advance Tracker
By Sensor Type
• Pressure Sensor
By Deployment Type:
• Commercial Vehicle
• Cargo & Container
• Others
By Industry:
• Transportation & Logistics
• Construction
• Oil & Gas
• Metals & Mining
• Government
• Others (Hospitality, Education, Retail, Agriculture, And Healthcare)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
