Adroit Market Research delivers key insights on the global GPS tracking device market in its latest report, which examines the GPS tracking device market size and offers critical insights for the next seven years.The global GPS tracking device market size value to reach USD 3.49 billion by 2025. The biggest driver of demand will be the Asia-Pacific region.
Global GPS Tracking Device Industry
The global GPS tracking device market report provides a detailed study of strength, opportunities, current and future trends of the market at the global level. The report also provides an in-depth analysis of major players in the global market. This report covers the current scenario and the overall growth prospects of the global market. To compute the market size, the report studies the revenue generated from the various segments.
The global GPS tracking device market size is anticipated to grow from USD 1.26 billion to USD 3.49 billion at a CAGR of 13.6% during the forecast period. Factors such as increasing use of GPS tracking system fueling the GPS tracking device industry growth. However, various environmental factors and the impact of nonstandard products limit market growth. Likewise the innovations in technology and software are likely to deliver a number of opportunities for the GPS tracking device market in the coming years.
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The GPS tracking device market has been segmented based on the type, application, and geographical region. On the basis of type, the market is sub-segmented into the standalone tracker, advanced tracker, OBD device, and others. Among these, advanced trackers segment is projected to witness the largest market over the forecast period. Also, the OBD trackers segment is likely to grasp the GPS tracking device market share over the prediction period. By application, this market is categorized into transportation & logistics, construction, mining, and others. In between these, the transportation & logistics segment is expected to be the largest global GPS tracking device industry share into the coming years. This market is mainly driven by the growing demand for automotive worldwide. Additionally, the rising awareness concerning to safety is also likely to boost the GPS tracking devices demand across the globe.
In terms of geography, the Asia Pacific region was the largest market with 47.5% of the revenue in 2017. Similarly, Japan and China were prominent markets in 2017. Though, the Indian GPS tracking market is niche currently and has huge potential for growth during the prediction period. Growing consumer acceptance of GPS tracking device is anticipated to drive the global GPS tracking device market growth.
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This market is highly fragmented because of the existence of both organized and unorganized vendors. Some leading players in the GPS tracking device market are TomTom International BV, Calamp Corp, Trackimo LLC, Orbcomm Inc., and others. Key vendors accounted for more than 35% of the global GPS tracking device market share however, unorganized vendors accounted for near around 50% of the share in 2017.
Key segments of the global GPS tracker device market
Type Overview, 2015-2025 (USD Million)
- Standalone tracker
- OBD device
- Advance tracker
Application Overview, 2015-2025 (USD Million)
- Transportation & Logistics
- Metals & mining
- Construction
Regional Overview, 2015-2025 (USD Million)
- North America
- U.S.
- Europe
- Asia Pacific
- China
- India
- Japan
- Middle East and Africa
- Central & South America
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Video Link: http://www.youtube.com/embed/R1P7StVUec0
Table of Content:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Global GPS Tracking Device Market Overview, By Type
5. Global GPS Tracking Device Market Overview, By Application
6. Global GPS Tracking Device Market Overview, By Region
7. Industry Structure
8. Company Profiles
About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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