GPS Tracker Market

GPS Tracker Market Segmentation, Application,
Technology & Analysis Report
GPS Tracker Market study provides key insights about market drivers,
restraints, opportunities, new product launches or approval, regional
outlook, and competitive strategies adopted by the leading players.
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.
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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.
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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.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering actionready syndicated research reports, custom market analysis, consulting services, and competitive
analysis through various recommendations related to emerging market trends, technologies,
and potential absolute dollar opportunity.
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Coherent Market Insights
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Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

GPS Tracker Market provides profiles of leading players in the market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies.