Ankit Gupta is a seasoned market intelligence and strategic research professional with over six plus years of experience in the ICT and Semiconductor industries. With academic roots in Telecom, Marketing, and Electronics, he blends technical insight with business strategy. Ankit has led 200+ projects, including work for Fortune 500 clients like Microsoft and Rio Tinto, covering market sizing, tech forecasting, and go-to-market strategies. Known for bridging engineering and enterprise decision-making, his insights support growth, innovation, and investment planning across diverse technology markets.
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Co-Author
Shubham Munde
Team Lead - Research
Shubham brings over 7 years of expertise in Market Intelligence and Strategic Consulting, with a strong focus on the Automotive, Aerospace, and Defense sectors. Backed by a solid foundation in semiconductors, electronics, and software, he has successfully delivered high-impact syndicated and custom research on a global scale. His core strengths include market sizing, forecasting, competitive intelligence, consumer insights, and supply chain mapping. Widely recognized for developing scalable growth strategies, Shubham empowers clients to navigate complex markets and achieve a lasting competitive edge. Trusted by start-ups and Fortune 500 companies alike, he consistently converts challenges into strategic opportunities that drive sustainable growth.
The secondary research process involved comprehensive analysis of regulatory filings, telecommunications authority databases, automotive production statistics, fleet management publications, and IoT industry standards. Key sources included the US Federal Communications Commission (FCC), National Highway Traffic Safety Administration (NHTSA), Federal Motor Carrier Safety Administration (FMCSA), European Telecommunications Standards Institute (ETSI), European Environment Agency (EEA), International Organization of Motor Vehicle Manufacturers (OICA), International Energy Agency (IEA), GSMA Intelligence, International Transport Forum (ITF), Eurostat Transport Database, Transport Canada, UK Office of Communications (Ofcom), and national transport ministry reports from key markets.
Data on vehicle production, regulatory requirements (eCall, AIS-140, ELD), spectrum allocation regulations, fleet statistics, import/export trade data, and trends in the usage of GPS tracking devices, fleet management software, and telematics services were all gathered from these sources.
Primary Research
To gather both qualitative and quantitative insights, supply-side and demand-side stakeholders were interviewed during the primary research process. CEOs, VPs of engineering, heads of IoT product development, and regulatory compliance officers from semiconductor chipset suppliers, telematics service providers (TSPs), GPS device manufacturers, and car OEM telematics divisions were among the supply-side sources. Demand-side sources included asset monitoring procurement leads from commercial fleet operators, rental car companies, logistics & transportation organizations, and government transport agencies; chief fleet operators; logistics directors; automobile purchasing managers; and insurance telematics specialists. In addition to confirming 4G/5G migration timescales and validating market segmentation, primary research also provided insights on software subscription models, hardware pricing trends, and regulatory compliance requirements.
Primary Respondent Breakdown:
By Designation: C-suite/VP Level (40%), Director Level (32%), Others (28%)
By Region: North America (32%), Europe (30%), Asia-Pacific (28%), Rest of World (10%)
Market Size Estimation
Revenue mapping and unit shipping analysis were used to get the global market valuation. The following were part of the methodology:
Finding more than fifty important firms in Latin America, Asia-Pacific, Europe, and North America
Product mapping for satellite-based trackers, portable/asset trackers, hardwired GPS systems, OBD-II trackers, and personal tracking devices
Examination of yearly revenues for GPS hardware and subscription services, both stated and estimated
coverage of producers who will account for 65–70% of the world market in 2024
Segment-specific valuations for the verticals of fleet management, asset monitoring, and consumer tracking are obtained through extrapolation utilizing top-down (service provider revenue validation) and bottom-up (unit shipments × ASP by country/region) methodologies.
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