GPS Tracking Device Market Size

Rising Need for Commercial Vehicle Sales to boost market growth

The user may monitor many devices on a single screen with modern, sophisticated software. The GPS vehicle tracking system was created to monitor the state of the roads and give its target consumers better mapping capabilities. According to a GPS industry analysis, the increased demand for such technologically advanced items boosts market value. The businesses that are major players in the international market are now outlining the best ways to guarantee quick output. Numerous attempts are made to take advantage of the expanding prospects for greater sales of GPS tracking devices.

Incorporating electronics and internet connectivity into GPS trackers makes them intelligent items and objects that can connect to the cloud, be controlled remotely, and interact with one another. As a result, the GPS tracking market is developing because of the rising need for IoT and cloud technology. The GPS device market is expanding due to the device's increased use in commercial vehicle tracking systems and durability. GPS monitoring devices can identify automobiles that use GPS to track their precise location as the retail industry grows.

The need for monitoring to ensure safety and effective operation grows.Hence, the rising number of commercial vehicles is expected to supersede the market CAGR globally in recent years.

Due to the device's rising use in commercial vehicle monitoring systems and longevity, the GPS device market is growing. As the retail sector expands, GPS tracking devices may recognize vehicles that use GPS to track their location. As a result, monitoring is increasingly necessary to guarantee security and efficient functioning enabling a wider GPS Tracking Device market revenue.

The Global GPS Tracking Device Market Industry is poised for substantial growth, with projections indicating a market value of 3.4 USD Billion in 2024 and an anticipated increase to 11.3 USD Billion by 2035. This growth trajectory reflects a compound annual growth rate of 11.52% from 2025 to 2035. The increasing demand for GPS tracking solutions across various sectors, including logistics, personal safety, and fleet management, contributes to this optimistic outlook. As technological advancements continue to enhance the capabilities of GPS tracking devices, the market is likely to expand, driven by both consumer and business needs.

Technological advancements play a crucial role in shaping the Global GPS Tracking Device Market Industry. Innovations such as enhanced satellite systems, improved accuracy, and integration with IoT devices are transforming how GPS tracking devices function. These advancements enable users to access real-time data and analytics, facilitating better decision-making processes. For example, the integration of artificial intelligence with GPS tracking systems allows for predictive analytics, which can foresee potential issues before they arise. As technology continues to evolve, the market is expected to expand, with projections indicating a growth to 11.3 USD Billion by 2035, reflecting a compound annual growth rate of 11.52% from 2025 to 2035.

The Global GPS Tracking Device Market Industry experiences a notable surge in demand for fleet management solutions. Businesses increasingly recognize the value of real-time tracking to enhance operational efficiency and reduce costs. For instance, logistics companies utilize GPS tracking to monitor vehicle locations, optimize routes, and improve delivery times. This trend is projected to contribute significantly to the market's growth, with the market value expected to reach 3.4 USD Billion in 2024. As companies strive for greater accountability and transparency in their operations, the adoption of GPS tracking devices is likely to become more prevalent, driving the overall market forward.

The expansion of e-commerce and delivery services significantly influences the Global GPS Tracking Device Market Industry. As online shopping continues to grow, logistics and delivery companies are increasingly reliant on GPS tracking to ensure timely deliveries and enhance customer satisfaction. The ability to track packages in real-time allows businesses to provide accurate delivery estimates, which is crucial in a competitive market. This trend is expected to drive the demand for GPS tracking devices, as companies seek to improve their logistics operations. The market's growth trajectory is likely to be reinforced by the increasing reliance on technology in the e-commerce sector.

Regulatory support and compliance requirements are pivotal drivers of the Global GPS Tracking Device Market Industry. Governments worldwide are implementing regulations that mandate the use of GPS tracking devices in various sectors, including transportation and logistics. These regulations aim to enhance safety, reduce emissions, and improve overall efficiency. For example, many countries require commercial vehicles to be equipped with GPS tracking systems to monitor driving behavior and ensure compliance with safety standards. This regulatory landscape is likely to propel the adoption of GPS tracking devices, as businesses strive to meet compliance requirements and avoid penalties.

The Global GPS Tracking Device Market Industry is witnessing a growing adoption of GPS tracking devices in personal safety applications. Individuals increasingly utilize these devices for personal security, particularly in urban areas where safety concerns are prevalent. For instance, wearable GPS trackers for children and elderly individuals provide peace of mind to caregivers and parents. This trend is likely to bolster market growth as consumers prioritize safety and security. The increasing awareness of personal safety issues and the availability of affordable GPS tracking solutions contribute to this trend, suggesting a sustained demand for personal safety applications in the GPS tracking market.

The Major market players are investing heavily in their research and development departments by introducing a vast product portfolio. The market participants also introduce various market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the GPS Tracking Device industry realize that to appeal to a wider consumer base; their products should be offered at a lower price base.

One of the primary business strategies that the market leaders in the GPS Tracking Device industry apply is reducing operating costs. The GPS Tracking Device market major player such as Verizon Wireless (U.S), Concox Information Technology Co. Ltd. (China), Calamp Corp. (US), Orbocomm Inc. (US), Sierra Wireless Inc. (Canada), and others are working on expanding the market demand by investing in research and development activities.

The Internet of Things (IoT) software applications, cloud services, data intelligence, and telematics goods and services are all offered by CalAmp, a company in Irvine, California. The company's technological offerings include edge computing devices and SaaS-based apps for remotely tracking and managing cars, drivers, freight, and other mobile assets. The business also sells a linked car and lot management products and owns the patents and trademarks for the LoJack Stolen Vehicle Recovery System.

Jacob Inbar and David Nichols, who had previously worked together at a microwave branch of Eaton Corporation, established CalAmp as California Amplifier Inc. in Newbury Park, California, in 1981. Initial products produced by the business included amplifiers and other tools for transmitting microwave signals for satellite video and broadband communications.

To track, monitor, and control fixed and mobile assets in markets like transportation, heavy equipment, maritime, oil and gas, utilities, and government, ORBCOMM, an American company, provides industrial Internet of things (IoT) and machine-to-machine communications hardware software, and services. The business offers hardware gadgets, modems, online programs, and data services supplied via several cellular and satellite networks.

Serving original equipment manufacturers (OEMs) like Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery Co., Ltd., John Deere, Komatsu Limited, and Volvo Construction Equipment, as well as other clients like Hub Group, KLLM Transport Services, Marten Transport, Swift Transportation, Target, Tropicana, Tyson Foods, Walmart, and Werner Enterprises, ORBCOMM had more than 2.3 million billable subscriber communicators as of June 30, 2022.