According to the recent study the GPS tracking device market is projected to reach an estimated $4 Billion by 2030 from $2.3 billion in 2023, at a CAGR of 10.0% from 2023 to 2030. Growth in this market is primarily driven by growth in the transportation and logistics industry and affordable price of GPS tracking devices.
Browse 88 figures / charts and 79 tables in this 190 -page report to understand trends, opportunities and forecast in GPS tracking device market by end use industry (transportation and logistics, construction, oil and gas, metal and mining, government, and others), device type (standalone trackers, OBD devices, and advanced trackers), deployment (commercial vehicles, cargo and containers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that GPS tracking device for the commercial vehicle market will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to growth in commercial vehicle production and increasing uses of GPS tracking devices in the transportation and logistic industry.
Within the GPS tracking device market, transportation and logistics will remain the largest end use industry due to increasing adoption of GPS tracking in the transportation and logistics sector for real time fleet management and affordable price of GPS tracking devices.
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North America will remain the largest region due to the increasing adoption of intelligent transport systems. APAC is expected to witness the highest growth over the forecast period, supported by increasing vehicle production and increasing trade activities.
CalAmp Corporation, Orbcomm Inc., Sierra Wireless, ATrack Technology, Geotab, are the major suppliers in the GPS tracking device market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
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