Dallas, TX / CRWE PRESS RELEASE / April 11, 2022 - According to the recent study the GPS tracking device market is projected to reach an estimated $2.9 billion by 2027 from $1.8 billion in 2021, at a CAGR of 8% from 2021 to 2027. Growth in this market is primarily driven by growth in the transportation and logistics industry and affordable price of GPS tracking devices.

Browse 88 figures / charts and 79 tables in this 190 -page report to understand trends, opportunities and forecast in GPS tracking device market by end use industry (transportation and logistics, construction, oil and gas, metal and mining, government, and others), device type (standalone trackers, OBD devices, and advanced trackers), deployment type (commercial vehicles, cargo and containers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Commercial vehicle market is expected to remain the largest segment during the forecast period.”

Based on deployment, the GPS tracking device market is segmented into commercial vehicles, cargo and containers, and others. Lucintel forecasts that the commercial vehicle is expected to witness the largest segment and it is also expected to witness the highest growth over the forecast period due to growth in commercial vehicle production and increasing uses of GPS tracking devices in the transportation and logistic industry.   

“Within the GPS tracking device market, the transportation and logistics segment is expected to remain the largest end use industry”

Based on end use industry, the transportation and logistics segment is expected to witness the largest segment due to increasing adoption of GPS tracking in the transportation and logistics sector for real time fleet management and affordable price of GPS tracking devices.    

“North America will dominate the GPS tracking device market in near future”

North America is expected to be the largest region due to the increasing adoption of intelligent transport systems and APAC is expected to witness the highest growth over the forecast period, supported by increasing vehicle production and increasing trade activities.

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Major players of GPS tracking device market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. CalAmp Corporation, Orbcomm Inc., Sierra Wireless, ATrack Technology, Geotab, Concox Information, Trackimo, Meitrack Group, and Ruptela UAB are among the major GPS tracking device providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/gps-tracking-device-market.aspx or helpdesk@lucintel.com