GPS Tracker Market - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

Posted April 29, 2019 by advacetechnology

GPS tracking devices are used for tracking the movements any person or vehicles, which help in determining the exact location of the assets

GPS tracking devices are used for tracking the movements any person or vehicles, which help in determining the exact location of the assets. This information is stored in the tracking unit, which are further transmitted to a central location database by using a cellular devices, radio, or satellite modem embedded in the unit.
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Increasing adoption of Internet of Things (IoT) and Cloud Technology is one of the major factors driving growth of the market
One of the major factors attributed to growth of the market is advancement in Internet of Things (IoT) and cloud technology due to increasing penetration of internet users across the world. For instance, according to the Internet World Stats, in June 2017, total Internet users were reported to be 3.88 billion among global population of 7.52 billion. Moreover, according to the Coherent Market Insights’ analysis, the number of Internet of things (IoT) connected devices was US$ 17.72 billion in 2016, and it has increased to US$ 20.38 billion, worldwide. Integration of IoT and cloud technology provides facility to install the GPS tracking device in any location such as office, home, and many more, which further  increases security of physical assets placed in the residential and business. This device allows users to monitor individual, animals, vehicles, or any object in real time, which in turn makes communication rapid and faster between devices and users along with high accuracy, precision, and reliability.
Global GPS Tracker Market: Segment Trends
Among deployment type, commercial vehicles segment accounted for the largest market share in 2017, and expected to hold the largest market share in the global GPS tracker market during the forecast period (2018 to 2026). The factor attributed to growth of the market is increasing sales of commercial vehicles worldwide. For instance, according to The Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2015 the sales of commercial vehicles was 23.3 million and it has grown up to 24.3 million in 2016.
Global GPS Tracker Market: Regional Insights
The GPS tracker market in Asia Pacific region is expected to exhibit the highest CAGR during the forecast period of 2018 to 2026. The factor attributed to market growth is increasing stringent government regulations along with increase in production of vehicles in emerging economies such as India and China. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), the production of commercial vehicles in India in 2016 was 4.51 million and it has grown to 4.78 million in 2017.
Global GPS Tracker Market: Competitive Landscape
Major player operating in the global tracker GPS market include Orbcomm Inc., Laird PLC., Teltonika UAB, Geotab Inc., Sierra Wireless, Inc., Queclink Wireless Solutions Co., Ltd, Tomtom International Bv, Rilapp Technology Inc., Calamp Corporation, and Shenzhen Concox Information Technology Co.
Global GPS Tracker Market: Taxonomy
By Product Type
• Standalone Tracker
• Convert GPS Trackers
• Advance Tracker
By Components
• GPS Loggers
• Personal GPS Tracker
• Real Time GPS Tracker
By Deployment Type
• Commercial Vehicle
• Cargo & Container
By Tracking Devices
• Satellite
• Cellular
By Verticals
• Transportation & Logistics
• Construction
• Oil & Gas
• Metals & Mining
• Government
• Others (Education, Retail, Hospitality, Agriculture, and Health care)

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Issued By Coherent Market Insights
Country India
Categories Technology
Last Updated April 29, 2019