The GPS tracking device market is expected to grow at a CAGR 9% during the forecast period 2021-2026. Various factors such as increasing commercial vehicle sales, various government mandates such as electronic logging device (ELD), affordable price, high ROI, and vehicle theft protection are expected to fuel the market growth.

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European region is expected to lead the market during the forecast period. Being the automotive manufacturing hub, various companies such as Teltonika UAB (Lithuania), Ruptela UAB (Lithuania), Neomatica LLC (Russia), and Box Telematics Ltd. (UK) are offering GPS tracking devices in the said market. In addition, various events, and conferences related to GPS tracking device are also driving the growth of the European market.

Key market players include Calamp Corp. (US), Orbocomm Inc. (US), Sierra Wireless Inc. (Canada), Queclink Wireless Solutions Co., Ltd. (China), and Concox Information Technology Co., Ltd. (China), as well as exhibitions such as Munich Satellite Navigation Summit (Germany), NaviTech 2016 (Russia), among others.

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