GPS tracker uses the global positioning system (GPS) to detect, monitor, and record the location of a person or device such as smartphones, laptops, cars, and others. GPS uses (Global Navigation Satellite System (GNSS) network to offer real-time as well as historical worldwide data tracking. The tracking devices record the location at regular intervals and broadcast the data via a cellular network. The GPS tracking system is used majorly for security purpose in patrols, transport, fleet management, and asset tracking among others.
The global GPS tracker market is expected to reach approximately USD 2.72 billion by 2023, registering a CAGR of 14.42% during the forecast period.
The market has been divided into various segments based on type, network, vertical, and region.
By type, the market has been segmented into covert GPS trackers, standalone tracker, and advance trackers. The advance trackers segment is expected to dominate the global GPS tracker market in the type segment, generating the highest revenue. Advance trackers are multifunctional tracking devices. Due to advanced features such as reporting, configurable alerts, 3D mapping, and landmark creation, advance trackers are widely adopted which is driving the growth of this segment in the market.
By network, the market has been classified into 3G, LTE, and 2G. In the network segment, the LTE segment is expected to dominate the global GPS tracker market with the highest revenue, owing to the high speed and connectivity offered by the LTE network; it is an ideal network for transmitting emergency and alert notifications.
By vertical, the market has been divided into automotive & aerospace, healthcare, transportation & logistics, government & defense, oil & gas, metals & mining, and others. Transportation & logistics segment holds the highest market share thus dominating the application segment as the GPS tracking systems are used for tracking personal as well as commercial vehicles by organizations managing cab services, vehicle rentals, delivery/courier services such as Ola, Uber, Zoom cars, and others. In logistics, GPS trackers help in tracking the movement of assets throughout the supply chain. This provides transparency and control over the entire network, reducing the probability of theft or losing a shipment, and improving operational efficiency.
The key players of the GPS tracker market include ATrack Technology Inc. (Taiwan), CalAmp (US), ORBCOMM (US), TomTom International BV (Netherlands), Laipac Technology Inc. (Canada), Sierra Wireless (Canada), Concox Information Technology Co., Ltd (China), Spy Tec International (US), Queclink Wireless Solutions Co., Ltd (China), Verizon Wireless (US) and Sony Mobile Communication Inc. (Japan).
Global GPS Tracker Market Analysis & Forecast, from 2017 to 2023
• To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the GPS tracker market
• To provide insights into the factors affecting market growth
• To analyze the GPS tracker market based on Porter’s five force analysis
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries—North America, Europe, Asia-Pacific, and the rest of the world
• To provide country-level analysis of the market with respect to the current market size and future perspective
• To provide country-level analysis of the market for a segment on the basis of type, network, vertical and region.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the GPS tracker market
• Associations, organizations, forums, and alliances
• Supplier of GPS tracking devices
• GNSS/GPS IC supplier
• GNSS module supplier
• Semiconductor product designers and fabricators
• Software and service providers
• Technology investors
• The global GPS tracker market is expected to reach USD 2.72 billion by 2023.
• By type, the advance trackers segment dominated the market, generating the highest revenue of USD 491.88 million in 2017; it is expected to grow at 16.09% CAGR during the forecast period.
• By network, the LTE segment dominated the market, generating the highest revenue of USD 836.63 million in 2017, exhibiting CAGR of 15.23%.
• By vertical, the transportation & logistics segment dominated the global GPS tracker market with a share of USD 339.72 million at a 17.05% CAGR from 2018 to 2023.
• Geographically, North America has been projected to hold the largest market share in the global GPS tracker market, followed by Europe. Asia-Pacific is expected to exhibit the highest CAGR at 16.42%.
Regional and Country Analysis of GPS Tracker Market Estimation and Forecast
Geographically, North America is dominating the GPS tracker market owing to the growing demand for effective fleet management in various transportation and logistics service providers in the US. Also, the high demand for GPS trackers in various industries such as automotive, transportation and logistics, construction, and aerospace is further expected to fuel market growth. Asia-Pacific is the fastest growing market, owing to the increasing demand for wearable GPS tracking devices for human and pets tracking.
The report on the global GPS tracker market also covers the following country-level analysis:
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East & Africa
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