Global GPS (Global Positioning System) Tracking System market research report includes segmentation of the global market on the basis of application, technology, end users, and region where each segment gives a microscopic view of the market. Details about the market drivers and market restraints included in this marketing report helps understand whether the demand of the products in ABC industry will rise or get lower. Moreover, Global GPS (Global Positioning System) Tracking System market report not only presents with the valuable insights into the competitive landscape but also concentrates on minor as well as major factors influencing the business of key market players.

Qualitative and transparent research studies are performed devotedly to offer an excellent market research report for a certain niche. The product portfolios of all the companies profiled in the report are compared in detail in the product analysis section. Global GPS (Global Positioning System) Tracking System report provides the global market size and other information of the main players in each region. The report is accomplished with transparent research studies and is generated by a team work of experts in their own domain. The market studies, insights and analysis carried out in Global GPS (Global Positioning System) Tracking System market research report keeps marketplace clearly into the focus which helps achieve business goal.

Data Bridge Market Research analyses that the GPS (global positioning system) tracking system market was valued at USD 2193.4 million in 2022 and is expected to reach the value of USD 5667.94 million by 2030, at a CAGR of 12.60% during the forecast period.

Market Overview

A global positioning (GPS) tracking system is a portable unit that lets users track and monitor its location. These devices are most generally used as car tracking systems in vehicles. Whereas tracking systems are similar to in-car navigation systems, there are only some differences. GPS navigation systems display drivers their location on digital map and then deliver instructions during driving to get to a selected point. On the other side, GPS trackers usage GPS technology to track a current location of vehicle’s and trip history. The GPS data is then broadcasted to a smartphone, computer or tablet.

Some of the major players operating in the GPS (global positioning system) tracking system market are:

• Calamp (U.S.)

• Orbocomm (U.S.)

• Qualcomm Technologies, Inc (U.S.)

• Sierra Wireless (Canada)

• Hexagon (Sweden)

• Queclink Wireless Solutions Co., Ltd. (China)

• Shenzhen Concox Information Technology Co. Ltd., (China)

• Laird (U.K)

• TomTom International BV (Netherlands)

• Meitrack Group (China)

• Teltonika (Lithuania)

• TomTom International BV. (Amsterdam)

• ATrack Technology Inc. (Taiwan)

• Verizon (U.S.)

• Trackimo (U.S.)

• Geotab Inc. (Canada)

Global GPS (Global Positioning System) Tracking System Market Dynamics

Drivers

• Increased sales of commercial vehicles

The growth of the tracking system market is fuelled by the increased usage in commercial vehicle and device's durability. As the retail sector develops, a GPS tracking system can detect vehicles that use GPS to track their location. This upsurges the requirement of monitoring for efficient operation and safety. Accordingly, several commercial vehicles are equipped with global positioning system (GPS) tracking system. The growing sale of commercial vehicles, stimulating the growth of the market. The growing penetration of the e-commerce industry is also expected to upsurge the demand for these ing systems in light commercial vehicles.

• Growth and expansion of IoT and cloud based technology

The global positioning system (GPS) tracker system, developed with modern technology such as cloud and IoT based technology. These technology allows it to serve a variety of applications. GPS trackers are embedded with internet connectivity and electronics, transforming the information into intelligent devices and objects that can connect to the cloud. These systems can be remotely communicate and controlled with one another by using cloud and IoT based technology. Consequently, the increasing demand for cloud and IoT technology boosts the expansion of the market.

Opportunities

• Increasing focus towards safety and security

GPS tracking system are normally used in trains, taxis, buses and other public and private transportation modes. An increasing focus on the security and safety of vehicles and passengers create immense market expansion. The Ministry of Road Transport & Highways mandated in 2021 that all oxygen-transporting cars be equipped with a GPS tracking device for proper monitoring and protection, thereby preventing any diversion or delay in the process.

• Growing usage of digital map

Digital map is experiencing extreme growth owing to growing internet subscribers and smartphone and portable device internet usage. The growing use of digital maps creates beneficial opportunities for GPS tracking system market. Many autonomous vehicles have digital map systems for route planning and navigation. The recent advancements in digital maps, for instance 3D maps, and the ease of locating and understanding a location are the primary growth factor for the market.

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Highlights of TOC

Chapter 1: Market overview

Chapter 2:  Global GPS (Global Positioning System) Tracking System Market  

Chapter 3: Regional analysis of the Global GPS (Global Positioning System) Tracking System industry

Chapter 4: Global GPS (Global Positioning System) Tracking System segmentation based on types and applications

Chapter 5: Revenue analysis based on types and applications

Chapter 6: Market share

Chapter 7: Competitive Landscape

Chapter 8: Drivers, Restraints, Challenges, and Opportunities

Chapter 9: Gross Margin and Price Analysis

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