Lucintel’s latest market report analyzed that GPS tracking device provides attractive opportunities in transportation and logistics, construction, oil and gas, government, and metal & mining industries. The GPS tracking device market is expected to reach $2.4 billion by 2025 with a CAGR of 5%. In this market, commercial vehicle is the largest segment by development type, whereas standalone tracker is largest by device type.
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Based on deployment type, the GPS tracking device market is segmented into commercial vehicles, cargo and containers. The commercial vehicles segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to the increasing uses of GPS tracking devices in transportation and logistics end use industry and rise in adoption of intelligent transport systems.
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The GPS tracking device market is marked by the presence of several big and small players. Some of the prominent players offering GPS tracking device include CalAmp Corporation, Orbcomm Inc., Sierra Wireless, ATrack Technology, Geotab, Concox Information, Trackimo, Meitrack Group, and Ruptela UAB.
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