GPS Tracking Device Market (2024-2033)- Industry Share, Growth, Price And Trends Forecast Report | CalAmp Inc., ORBCOMM Inc., Sierra Wireless Inc., Shenzhen Jimi IoT Co. Ltd., Queclink Wireless Solutions Co. Ltd.

The GPS Tracking Device Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company’s comprehensive analysis in the GPS Tracking Device Global Market Report 2024, the burgeoning trajectory of the GPS tracking device market is unmistakable. Its impressive surge from $2.91 billion in 2024 to an anticipated $3.29 billion in the same year is indicative of an impressive compound annual growth rate (CAGR) of 13.3%. This remarkable growth can be attributed to several factors, including the ascendancy of fleet management solutions, the burgeoning landscape of e-commerce and last-mile delivery, stringent regulatory mandates for vehicle safety, and a discernible uptick in the adoption of GPS tracking devices for asset tracking and personal safety concerns.

Projections for the GPS tracking device market foretell a continued trajectory of rapid expansion, with an estimated market size of $5.46 billion by 2028, boasting a robust CAGR of 13.4%. This anticipated growth is underpinned by factors such as the rise of autonomous vehicles, an escalating demand for stolen vehicle recovery solutions, a heightened focus on environmental sustainability, expanding applications in healthcare, and an increased demand for geo-fencing solutions.

Noteworthy trends in the forecast period encompass seamless integration with IoT ecosystems, strides in real-time tracking capabilities, extended battery life, the infusion of artificial intelligence (AI) in analytics, satellite constellation expansion, and integration with wearable devices. These trends underscore the dynamic and innovative landscape of the GPS tracking device market.

The increasing demand for commercial vehicles is expected to propel the growth of the GPS tracking device market going forward. A commercial vehicle refers to a vehicle registered to a company, such as company cars, fleet vehicles, or other vehicles that are used to transport goods and general equipment for commercial or business purposes. GPS tracking devices are used in commercial vehicles to keep track of the vehicle, improve vehicle maintenance, and enhance customer service by providing real-time status. Therefore, the increasing demand for commercial vehicles is driving the growth of the GPS tracking device market. For instance, in 2024, according to the International Organization of Motor Vehicle Manufacturers, a Paris-based international trade association, production of commercial vehicles in the USA increased by 10% from 7,604,154 in 2021 to 8,308,603 in 2022. Further, the production of commercial vehicles in Argentina increased by 24% from 250,647 in 2021 to 279,388 in 2022. Therefore, the increasing demand for commercial vehicles is driving the growth of the GPS tracking device market.

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The gps tracking device market covered in this report is segmented –
1) By Type: Standalone Trackers, OBD Devices, Advance Trackers
2) By Deployment: Commercial Vehicles, Cargo And Containers
3) By Application: Automotive, Aerospace And Defense, Healthcare, Transportation

Top 5 Major Players:

• CalAmp Inc
• ORBCOMM Inc
• Sierra Wireless Inc
• Shenzhen Jimi IoT Co. Ltd
• Queclink Wireless Solutions Co. Ltd

A pivotal development within this landscape is the prevalence of product innovations, a burgeoning trend embraced by major market players to fortify their positions. A case in point is the January 2022 launch by ATrack Technology Inc., a prominent China-based telematics hardware designer and manufacturer. Their introduction of the AL300 LTE-M waterproof tracker, endowed with IP67 waterproof and dustproof functions, showcases a commitment to addressing the needs of heavy machinery and transportation equipment such as refrigerated trucks, trailers, scooters, and agricultural and construction heavy machinery. The AL300 stands out as an invaluable solution for prolonged outdoor monitoring, effectively contributing to cost control for heavy-duty outdoor machinery and transportation equipment. This innovation exemplifies the industry’s dedication to advancing technology to meet the evolving demands of diverse sectors.

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31. Global GPS Tracking Device Market Competitive Benchmarking
32. Global GPS Tracking Device Market Competitive Dashboard
33. Key Mergers And Acquisitions In The GPS Tracking Device Market
34. GPS Tracking Device Market Future Outlook and Potential Analysis
35. Appendix

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global GPS Tracking Device Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global GPS Tracking Device Market, Segmentation By Deployment, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global GPS Tracking Device Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 74: CalAmp Inc. Financial Performance
Table 75: ORBCOMM Inc. Financial Performance
Table 76: Sierra Wireless Inc. Financial Performance
Table 77: Shenzhen Jimi IoT Co. Ltd. Financial Performance
Table 78: Queclink Wireless Solutions Co. Ltd. Financial Performance

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