GPS Tracker Market Research Size to Grow by USD 914.96 Mn | CalAmp Corp. and Concox Information Technology Co. Ltd. Among Key Vendors | Technavio

NEW YORK, Dec. 15, 2021 /PRNewswire/ -- The GPS tracker market has been segmented by end-user (logistics and transportation, construction and mining, government, and oil and gas) and geography (Europe, APAC, North America, MEA, and South America). By end-user, the logistics and transportation segment will have significant market share growth during the forecast period. The optimization of the supply chain through continuous tracking of assets is the primary focus of enterprises in the market. For instance, perishable products such as food can lose their market value if the delivery is delayed. In the e-commerce industry, on-time delivery is required to ensure customer satisfaction. For products such as ornaments, security is crucial in the supply chain. Companies are opting for fleet management solutions to achieve supply chain optimization. In addition, the adoption of GPS trackers is increasing in the transportation segment. The growth of ride-hailing services, including cab services and vehicle tracking for delivery services such as UBER Eats, Seamless, Grubhub, and others, is one of the major drivers.

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Some of the primary growth drivers for the GPS tracker market are the increasing demand for fleet management system, growing investment in satellite deployment, and growing investment in LTE network, according to a senior analyst at Technavio. The market size is expected to grow by USD 914.96 mn from 2020 to 2025. The year-over-year growth rate of the market in 2021 is 9.63%.

Key Vendors and Their Offerings

• CalAmp Corp. -  The company offers GPS trackers such as Asset Trackers, Vehicle Trackers, Fleet Telematics, OBD Telematics, Telematics Gateways, Telematics Routers like ATU-620, LMU-330, LMU-2130, LMU-3030 LTE CAT-1, and many more.
• Concox Information Technology Co. Ltd. - The company offers GPS trackers such as Vehicle Tracker, Asset Tracker, and Personal Tracker like GT06E, JM-LL301, Qbit, and many more.
• Geotab Inc. - The company offers GPS trackers such as Geotab GO device, MyGeotab, Camera and video solutions, Software packages, and many more.
• JSC Teltonika - The company offers GPS trackers for vehicle tracking and its accessories like FMC001, FMM130, FMU126, MSP500, and many more.
• Navtelecom LLC - The company offers GPS trackers such as SIGNAL S-2651, SIGNAL S-2653, SIGNAL S-4651, and their software.

Regional Analysis

• 33% of the growth will originate from APAC.
• China and Japan are the key countries for the GPS tracker market in APAC.
• Market growth in this region will be faster than the growth of the market in Europe, APAC, North America, MEA, and South America.

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Notes:

• The GPS tracker market size is expected to accelerate at a CAGR of 11.91% during the forecast period.
• The market is fragmented due to the presence of many vendors holding significant market share.
• The research report offers information on several market vendors, including CalAmp Corp., Concox Information Technology Co. Ltd., Geotab Inc., JSC Teltonika, Navtelecom LLC, ORBCOMM Inc., Queclink Wireless Solutions Co. Ltd., SENSATA TECHNOLOGIES HOLDING PLC, Sierra Wireless Inc., and UAB Ruptela

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SOURCE Technavio