What is the current market size and future outlook for the gps equipment market?
The GPS equipment market size has grown rapidly in recent years. It will grow from $2.96 billion in 2024 to $3.32 billion in 2025 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to military application, consumer electronics boom, global positioning system (GPS) satellite, automotive industry adoption, government initiatives and investment.
The GPS equipment market size is expected to see rapid growth in the next few years. It will grow to $5.17 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to growth in IoT and connected devices, security and anti-theft measure, data analytics and location-based services, demand surge in emergency response and disaster management, integration with autonomous drones. Major trends in the forecast period include expansion in outdoor recreation, growing safety concerns, emergence of autonomous vehicles, rising use in agriculture, government initiatives and regulations.
Get Your Free Sample of The Global GPS Equipment Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2793&type=smp
Which Market drivers have played a significant role in driving the gps equipment market?
The increased use of GPS tracking devices in commercial vehicles contributed to the growth of the GPS equipment market. GPS tracking devices help in monitoring commercial vehicles such as trucks, buses, heavy commercial vehicles, and construction vehicles. Through monitoring and handling these vehicles in real-time with GPS trackers, companies can get real-time updates, optimize routes, increase efficiency, and improve fuel efficiency, among others. Businesses are increasingly using GPS for tracking vehicles and will have an edge over their competitors in providing a better customer experience. Therefore, the use of GPS equipment in commercial vehicles is a key factor leading to the growth of the GPS equipment market.
What are the key segments within the gps equipment market?
The GPS equipment market covered in this report is segmented –
1) By Product Type: Data Loggers, Data Pushers, Data Pullers, Covert GPS Trackers
2) By Application: Road, Aviation, Marine, Location-based services, Surveying And Mapping, Other Applications (Hospitality, Education, Retail, Agriculture, And Healthcare)
3) By End-Use Industry: Transportation And Logistics, Construction, Oil And Gas, Metals And Mining, Government, Other End-Use Industries
Subsegments:
1) By Data Loggers: Portable Data Loggers, Fixed Data Loggers
2) By Data Pushers: Real-Time GPS Trackers, Cellular Data Pushers
3) By Data Pullers: Request-Based Trackers, Remote Data Pullers
4) By Covert GPS Trackers: Battery-Powered Trackers, Hardwired Covert Trackers
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/gps-equipments-global-market-report
Which key players are shaping the gps equipment market?
Major companies operating in the GPS equipment market include Garmin Ltd., Sensata Technologies Inc., Trimble Navigation Limited, Jimi IoT, MiTAC Digital Technology Corporation (Navman), Eelink Communication Technology Limited, Queclink Wireless Solutions Co. Ltd., TomTom International BV, Geotab Inc., Teltonika UAB, Calamp Corporation, Sierra Wireless Inc., Mio Technology Corporation, Verizon, Orbocomm Inc., Concox Wireless Solution, Shenzhen Concox Information Technology Co. Ltd., ATrack Technology Inc., Meitrack Group, Trackimo LLC, Ruptela UAB, Xirgo Technologies Inc., Shenzhen Coban Electronics Co. Ltd., Maestro Wireless Solutions, Spy Tec Inc.
Which transformative trends will shape the gps equipment market landscape?
The software integrated with GPS trackers has developed rapidly. The use of advanced software can deliver real-time data on a specific location. The advanced software has helped improve mapping capabilities and the ability to integrate with resources such as Google Earth and predictive diagnosis. For instance, in September 2022, Trackem, a US-based platform for monitoring resources, supplies, and job progress, launched its most recent version of its GPS tracking platform for clients. The new system includes tools for tracking fuel bills, fleet-wide fuel usage, mileage analysis, and driver scorecards. Scorecards for drivers make it easier to see those who frequently accelerate quickly or drive too fast, both of which increase fuel consumption. This data may be employed for disciplinary or instructional purposes. Numerous places in the fleet that can be modified for fuel economy can be found with the use of detailed reports. Additionally, the new Maintenance area can help fleet managers or business owners stay current and repair their vehicles to maximize fuel efficiency. The development of an enhanced GPS tracker is gaining traction and contributes to the growth of the market.
How do regional factors impact the gps equipment market, and which region is the largest contributor?
The countries covered in the GPS equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
What Does The GPS Equipment Market Report 2025 Offer?
The gps equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The GPS equipment refers to various devices and tools required for the functioning of the satellite navigation system. A GPS is a satellite navigation system that determines an object’s location on the ground.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2793
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
