Lucintel’s latest market report analyzed that GPS tracking device provides attractive opportunities in the transportation and logistics, construction, oil and gas, and metal & mining industries. The GPS tracking device market is expected to reach $2.9 billion by 2027 with a CAGR of 8%. In this market, commercial vehicle is the largest segment by deployment, whereas transportation and logistics is largest by end use industry. The development of humancentric GPS tracking and monitoring devices and more emphasis on livestock welfare tracking provides strategic growth path in this market.
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Based on deployment, the GPS tracking device market is segmented into commercial vehicles, cargo and containers, and others. The commercial vehicle segment is accounted for the largest share of the market in 2021 and is expected to register the highest CAGR during the forecast period due to growth in commercial vehicle production and increasing uses of GPS tracking devices in the transportation and logistic industry.
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79 – Tables
88 – Figures
190 – Pages
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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