GPS Tracking Device Market Outlook – 2028
The Global GPS Tracking Device Market size was valued at $1.78 billion in 2020, and is projected to reach $4.93 billion by 2028, registering a CAGR of 12.3% from 2021 to 2028.
GPS tracking device is a navigation device used for tracking a vehicle, object or a person. GPS establishes a person or object’s location on Earth with astonishing precision. GPS tracking devices are used in vehicles, mining, agriculture, and others.
The key factors that drive the growth of the GPS tracking device market include increase in demand for IoT and cloud technology and surge in commercial vehicle sales. However, impact of nonstandard products and several environmental factors leading to poor user experience are expected to pose major threats for the GPS tracking device market. Furthermore, rise in usage of digital map and surge in advancements and upgradation of software used in GPS tracking devices are expected to offer lucrative opportunities for the growth of the global GPS tracking device market.
The key factors that hamper the GPS tracking device market growth are low awareness among small scale manufactures and competition from uninterrupted and non-fluctuating power supply systems. The opportunity lies in increase in awareness for need of GPS, developments in automotive sector, and transportation issues in the developing countries.
By Technology
Advance Tracker segment is projected to be the most lucrative segment
Key Takeaways
The global market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
More than 1,500 product literature, industry releases, annual reports, and other such documents of major market industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
Key Market Dynamics
The GPS tracking device market is expected to witness notable growth during the forecast period, owing to the increasing need for real-time monitoring and management of commercial fleets. Furthermore, the growing adoption of personal vehicles drives the growth of the market. Moreover, the growth of connected devices and smart systems is expected to propel the growth of the GPS tracking device market during the forecast period.
However, increasing concerns over data privacy and unauthorized tracking are some of the prime factors that restrain market growth. On the contrary, the Growing demand for personal GPS tracking devices for children, the elderly, and pets is expected to provide lucrative opportunities for the growth of the GPS tracking device market during the forecast period.
Segment Overview
The GPS tracking device market share is segmented on the basis of technology, type, application, and region. By technology, the market is classified into standalone tracker, OBD device, and advance tracker. By type, the market is divided into data loggers, data pushers, and data pullers. By application, the market is fragmented into automotive, aerospace & defense, healthcare, transportation, and others. By region, the GPS tracking device market is studied across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
By Type
Data Pushers segment will dominate the market during the forecast period
Regional/Country Market Outlook
North America: North America is a mature market for GPS tracking devices, led by the United States and Canada. The region’s strong focus on fleet management, particularly in logistics, transportation, and ride-hailing services, drives the demand for GPS tracking solutions. In the U.S., government mandates for ELD (Electronic Logging Devices) compliance in commercial vehicles have spurred significant GPS tracking device market growth. Canada follows similar trends with increasing adoption in the transportation and construction sectors. Furthermore, North America’s focus on technological advancements and the integration of GPS devices with IoT platforms bolsters market expansion across various industries, including healthcare and defence.
Europe: Europe shows significant growth in the GPS tracking device market, driven by robust automotive and logistics industries. Germany, the UK, and France lead the region in adopting advanced tracking technologies for vehicle security, fleet management, and asset tracking. Germany’s well-established automotive sector promotes the use of GPS devices for real-time tracking and vehicle diagnostics. The UK and France are witnessing a surge in demand, fueled by increasing e-commerce, which relies heavily on GPS-enabled transportation solutions. Additionally, stringent EU regulations on vehicle safety and fleet management further encourage the integration of GPS devices across several industries.
Asia-Pacific: Asia-Pacific dominates the GPS tracking device market, with China, Japan, and India being key growth contributors. China's expanding logistics and transportation sectors, coupled with government mandates for vehicle tracking systems, drive substantial GPS tracking device market demand. Japan is known for its adoption of advanced GPS technologies in automotive and industrial applications, while India's growing fleet management and logistics services are propelling the widespread use of GPS trackers. The region’s rapid urbanization and investments in smart cities, particularly in China and South Korea, further support market growth. Moreover, the increasing penetration of IoT and telematics technologies in these countries boosts demand for GPS tracking devices across multiple sectors.
LAMEA: The LAMEA region presents emerging opportunities for the GPS tracking device market, with Brazil, Mexico, and the UAE leading growth. In Latin America, the expanding logistics and transportation sectors in Brazil and Mexico are driving demand for GPS solutions to enhance fleet management and optimize operations. The Middle East, particularly the UAE, is investing in smart city projects and modernizing its transportation infrastructure, creating opportunities for GPS tracking device adoption. Africa is slowly witnessing growth in urban centres as businesses increasingly recognize the need for asset and vehicle tracking solutions.
Competitive Analysis
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. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaborations, to enhance their market penetration.
By Application
Transportation segment will maintain the lead during the forecast period
Report Coverage & Deliverables
This report delivers in-depth insights into the GPS tracking device market, technology, type, application, and region and key strategies employed by major players. It offers detailed market forecasts and emerging trends.
Technology Insights
Standalone trackers provide basic GPS tracking capabilities, ideal for personal use and small-scale applications, offering affordability and easy installation. OBD devices plug directly into vehicle ports, providing detailed diagnostics alongside tracking, popular in fleet management. Advanced trackers offer robust features, such as real-time tracking, geo-fencing, and integration with IoT systems, suited for industrial and commercial applications requiring enhanced functionality.
Type Insight
Data loggers store GPS data and upload it later, making them useful for offline tracking or remote areas. Data pushers send real-time location data to a server, widely used in applications requiring constant monitoring. Data pullers retrieve information upon request, providing more controlled tracking, ideal for specific use cases like monitoring high-value assets.
Application Insight
In automotive, GPS tracking ensures vehicle safety, fleet management, and theft prevention. In aerospace & defense, it provides critical location-based intelligence for mission-critical operations. Healthcare applications benefit from tracking for ambulances and equipment logistics. Transportation sectors use GPS to optimize routes and track goods, while other industries, including retail and agriculture, leverage GPS to enhance operational efficiency and security.
Regional Insights
The Asia-Pacific region dominates the GPS tracking device market due to rapid industrialization, increasing adoption of advanced technologies, and the growing demand for fleet management solutions. Countries like China, Japan, and India are driving significant growth through expanding logistics and transportation sectors, where GPS tracking is essential for optimizing routes and ensuring timely deliveries. Additionally, rising concerns over vehicle theft and the growing automotive market further fuel demand for GPS tracking devices. Government regulations mandating the use of tracking systems in commercial vehicles and strong investments in smart city initiatives also contribute to the region's leadership. The presence of key market players and large-scale adoption of IoT technologies enhance the deployment of GPS tracking solutions across multiple industries.
Key Strategies and Developments
In July 2023, Systems & Technology Corp. introduced the EZ2 LTE model, a compact GPS tracker designed to meet vehicle telematics requirements with 4G LTE Cat 1 network coverage. The EZ2 LTE supports simultaneous connections to both digital and analog accessories, along with RS-232 connections for external equipment. It operates on multiple LTE frequency bands and offers a 4G Cat 1 network with fallback to 2G, ensuring reliable coverage. The device is well-suited for various applications, including logistics, fleet management, refrigerated transportation, and is highly beneficial for insurance and car rental services, making it a versatile solution in the telematics space.
In August 2023, Shenzhen Jimi IoT Co., Ltd. launched the VL101G INS-Aided IP66-Rated Vehicle Tracker. This 4G tracker incorporates GNSS positioning technology and dual-frequency GPS to provide highly accurate real-time location tracking across various applications. The device comes with features such as ignition detection, driving behavior analysis, and remote engine cut-off, enhancing vehicle monitoring and control. Additionally, it allows users to manage and monitor the tracker remotely through Jimi IoT’s cloud-based platform, making it an ideal solution for fleet management, asset tracking, and vehicle security.
Top Impacting Factors
Notable factors positively affecting the GPS tracking device market include increase in commercial vehicle sales and rise in demand for IoT and cloud technology and machinery in manufacturing units. However, nonstandard products and several environmental factors lead to poor user experience which hamper the growth of the GPS tracking device market. Furthermore, surge in usage of digital map and rise in advancements and upgradation of software used in GPS tracking devices are expected to offer lucrative opportunities for the GPS tracking device market growth in the coming years.
Increase in Demand For IoT and Cloud Technology
GPS tracking devices are used in many sectors such as automotive, healthcare, and more for tracking. Over the past few years, the need for tracking has increased at a rapid pace. GPS trackers are embedded with electronics and internet connectivity to make them smart devices and objects, which can connect to the cloud, be remotely controlled, and communicate with each other. This is attributed to increased demand for tracking system, which, in turn, drives the market growth.
Nonstandard Products and Several Environmental Factors Leads to Poor User Experience
Several environment factors, such as dense trees, tall buildings, heavy cloud cover, and rains can weaken GPS signal, sometimes the result or tracking gets delayed because of these geographical limitations. Also to gain competitive advantage, few vendors and manufacturers deliver low-cost and low quality GPS tracking devices in the market, thus resulting in poor user experience and poor quality. This is the key hurdle for the growth of the GPS tracking devicemarket.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the GPS tracking device market size along with the current trends and future estimations to depict imminent investment pockets.
- The overall GPS tracking device market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The present GPS tracking device market forecast is quantitatively analyzed from 2020 to 2028 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
- The report includes the market trends and the GPS tracking device market share of key vendors.
GPS Tracking Device Market Report Highlights
| Aspects | Details |
 By TECHNOLOGY |
|
 By TYPE |
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 By APPLICATION |
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 By Region |
|
 Key Market Players | ORBCOMM INC., QUECLINK WIRELESS SOLUTIONS CO., LTD., CONCOX INFORMATION & TECHNOLOGY CO., LTD. (SHENZHEN JIMI IOT CO., LTD.), GEOTAB INC., ATRACK TECHNOLOGY INC., SIERRA WIRELESS, INC., TRACKIMO GROUP, STARCOM SYSTEMS LTD., CALAMP CORP., MEITRACK GROUP |
Analyst Review
The global GPS tracking device market is competitive, owing to strong presence of existing vendors. GPS tracking devices technology vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
The GPS tracking device market holds a substantial scope for growth on a global scale. Its contribution to the market is anticipated to increase significantly during the forecast period. Recent discoveries and innovations have created vast opportunities for numerous players to step in the GPS tracking device market.
Increase in demand for tracking devices in commercial vehicles & transportation sectors drive the market growth. Environmental factors such as rain, and presence of dense tree areas affect the GPS range and gives poor signal which is the biggest hurdle for the market growth.
The key factors that hamper the growth of this market are low awareness among small scale manufactures and competition from uninterrupted and non-fluctuating power supply systems. The opportunity lies in increasing the awareness for need of GPS, growing need for security in developing countries.
On the basis of end use, the market is further divided into automotive, aerospace & defense, healthcare, transportation, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
The GPS Tracking Device Market is estimated to grow at a CAGR of 12.3% from 2021 to 2028.
The GPS Tracking Device Market is projected to reach $4.93 billion by 2028.
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Increase in demand for IoT and cloud technology, and surge in commercial vehicle sales etc. boost the GPS Tracking Device market growth.
The key players profiled in the report include Sierra Wireless, Orbocomm, Atrack Technology, Geotab Inc., Box Telematics, and many more.
On the basis of top growing big corporations, we select top 10 players.
The GPS Tracking Device Market is segmented on the basis of technology, type, application, and region.
The key growth strategies of GPS Tracking Device market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Advance Tracker segment would grow at a highest CAGR of 14.5% during the forecast period.
Data Pushers segment will dominate the market by the end of 2028.
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