GPS Tracker Market, by Product Type (Standalone Tracker, Convert GPS Trackers, and Advance Tracker), by Components (GPS Loggers, Personal GPS Tracker, and Real Time GPS Tracker), by Deployment Type (Commercial Vehicle, and Cargo & Container), by Tracking Devices (Satellite and Cellular), by Verticals (Transportation & Logistics, Construction, Oil & Gas, Metals & Mining, Government, and Others ( Education, Retail, Hospitality, Agriculture, and Health care)), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

GPS tracking devices are used for tracking the movements any person or vehicles, which help in determining the exact location of the assets. This information is stored in the tracking unit, which are further transmitted to a central location database by using a cellular devices, radio, or satellite modem embedded in the unit.

Increasing adoption of Internet of Things (IoT) and Cloud Technology is one of the major factors driving growth of the market

One of the major factors attributed to growth of the market is advancement in Internet of Things (IoT) and cloud technology due to increasing penetration of internet users across the world. For instance, according to the Internet World Stats, in June 2017, total Internet users were reported to be 3.88 billion among global population of 7.52 billion. Moreover, according to the Coherent Market Insights’ analysis, the number of Internet of things (IoT) connected devices was US$ 17.72 billion in 2016, and it has increased to US$ 20.38 billion, worldwide. Integration of IoT and cloud technology provides facility to install the GPS tracking device in any location such as office, home, and many more, which further  increases security of physical assets placed in the residential and business. This device allows users to monitor individual, animals, vehicles, or any object in real time, which in turn makes communication rapid and faster between devices and users along with high accuracy, precision, and reliability. Moreover, GPS tracking also helps the organizations to run smoothly and timely which in turn, organizations to keeps customers satisfied with accurate time frames and scheduling. Hence, this factor is expected to propel growth of the GPS tracker market during the forecast period (2018-2026) However, sometimes GPS tracker fails to perform in bad weather conditions such as heavy rainfall, snowfall, and others, which is expected to restrain growth of the GPS tracker market over the forecast period (2018 - 2026).

Global GPS Tracker Market: Segment Trends

Among deployment type, commercial vehicles segment accounted for the largest market share in 2017, and expected to hold the largest market share in the global GPS tracker market during the forecast period (2018 to 2026). The factor attributed to growth of the market is increasing sales of commercial vehicles worldwide. For instance, according to The Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2015 the sales of commercial vehicles was 23.3 million and it has grown up to 24.3 million in 2016. Hence, this factor will further increase the installation of GPS tracker in the commercial vehicles as this GPS tracker help in reducing the fuel consumption by tracking the miles of the vehicles and it also identify the shortest path of the route which further help in eliminating unnecessary fuel expenses. 

Global GPS Tracker Market: Regional Insights

The GPS tracker market in Asia Pacific region is expected to exhibit the highest CAGR during the forecast period of 2018 to 2026. The factor attributed to market growth is increasing stringent government regulations along with increase in production of vehicles in emerging economies such as India and China. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), the production of commercial vehicles in India in 2016 was 4.51 million and it has grown to 4.78 million in 2017. According to a press release of Autocar pro, a leading semiconductor manufacturing company, in January 2018, the Ministry of Road Transport and Highways (MoRTH) had mandated the installation of GPS tracking devices and panic button to all the passengers transport vehicles, which further helps in improving safety of individuals who utilise passenger transport vehicles. Therefore, stringent government norms will inadvertently increase the installation of GPS tracker in the vehicles, which in turn is driving growth of the market in this particular region.

Global GPS Tracker Market: Competitive Landscape

Major player operating in the global tracker GPS market include Orbcomm Inc., Laird PLC., Teltonika UAB, Geotab Inc., Sierra Wireless, Inc., Queclink Wireless Solutions Co., Ltd, Tomtom International Bv, Rilapp Technology Inc., Calamp Corporation, and Shenzhen Concox Information Technology Co.

The key players of the market are adopting new product development strategy in order to gain competitive edge in the market. For instance, in November 2016, the Rilapp Technologies launched the R-locator GPS tracking devices. The facilities included in system are real time tracking, ignition detection, engine cut-off, distance calculation, speed monitoring, movement monitoring, in build battery backup for electricity failure, in build memory for historical data upload under different circumstances, and others. 

Global GPS Tracker Market: Taxonomy

By Product Type

  • Standalone Tracker
  • Convert GPS Trackers
  • Advance Tracker

By Components

  • GPS Loggers
  • Personal GPS Tracker
  • Real Time GPS Tracker

By Deployment Type

  • Commercial Vehicle
  • Cargo & Container

By Tracking Devices

  • Satellite
  • Cellular

By Verticals

  • Transportation & Logistics
  • Construction
  • Oil & Gas
  • Metals & Mining
  • Government
  • Others (Education, Retail, Hospitality, Agriculture, and Health care)

 By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
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Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

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  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
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  • Distributors
  • End-users

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