The Worldwide GPS Tracking Device Market is Projected to reach USD 5.5 Billion by 2028, at a CAGR of 12.3%

GPS Tracking Device Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global GPS Tracking Device Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 12.3% CAGR during the forecast period.

The Advance Trackers segment acquired maximum revenue share in the Global GPS Tracking Device Market by Type in 2021 thereby, achieving a market value of $2.4 billion by 2028. In order to track a car, a GPS receiver must be put inside the vehicle. These receivers can either be self-powered by their batteries or run on an engine. Vehicles are tracked for fleet tracking, dispatching, on-board information, routing, and security. Additionally, it features theft prevention and driving behavior tracking.

The Cargo & Containers segment has shown the growth rate of 13% during (2022 - 2028). GPS tracking solutions offer a reliable way to track down shipping containers in real-time, secure the cargo, and boost revenue. GPS trackers are an affordable way to keep an eye on valuable assets, including powered assets like dry van trailers as well as unpowered assets like cargo containers. GPS tracking devices can provide historical, interval-based, and real-time data on an asset's location.

The Transportation & Logistics segment is leading the Global GPS Tracking Device Market by Industry in 2021 thereby, achieving a market value of $2.8 billion by 2028. The transportation and logistics sector uses GPS tracking technologies for asset tracking, fuel efficiency monitoring, route management, driver safety, reducing the risk of theft, and performance tracking. In the transportation sector, assets are tracked using GPS and other methods of GPS tracking devices.

The Europe market dominated the Global GPS Tracking Device Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.9 billion by 2028. The North America market is exhibiting a CAGR of 11.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 12.9% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/gps-tracking-device-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of TomTom N.V., Sierra Wireless, Inc. (Semtech Corporation), Sensata Technologies Holdings PLC, CalAmp Corp, Orbcomm, Inc. (GI Partners L.P.), Shenzhen Jimi IoT Co., Ltd., Queclink Wireless Solutions Co., Ltd., Teltonika, ATrack Technology, Inc. and Ruptela.

Global GPS Tracking Device Market Segmentation

By Type

• Advance Trackers
• Standalone Trackers
• On-Board Diagnostics (OBD) Devices

By Deployment

• Commercial Vehicles
• Cargo & Containers

By Industry

• Transportation & Logistics
• Construction
• Government
• Oil & Gas
• Metals & Mining
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• TomTom N.V.
• Sierra Wireless, Inc. (Semtech Corporation)
• Sensata Technologies Holdings PLC
• CalAmp Corp
• Orbcomm, Inc. (GI Partners L.P.)
• Shenzhen Jimi IoT Co., Ltd.
• Queclink Wireless Solutions Co., Ltd.
• Teltonika
• ATrack Technology, Inc.
• Ruptela

Related Reports:

North America GPS Tracking Device Market Size, Share 2028

• March-2023
• 82 Pages

LAMEA GPS Tracking Device Market Size & Forecast by 2028

• March-2023
• 93 Pages

Europe GPS Tracking Device Market Size & Forecast, 2022-2028

• March-2023
• 93 Pages

Asia Pacific GPS Tracking Device Market Size, Share, 2028

• March-2023
• 93 Pages