Various factors such as increasing commercial vehicle sales, various government mandates such as electronic logging device (ELD), affordable price, high ROI, and vehicle theft protection are expected to fuel the market growth.
The transportation & logistic industry accounted for the largest share of market. GPS tracking device is widely used in commercial vehicles such as trucks, trailers, buses, and light commercial vehicles for tracking purposes.
Advance tracker is expected to grow at the highest CAGR during the forecast period. Advance tracker is professionally installed in vehicles, and cargo and container not only provides vehicle location but also share engine diagnosis and various parameters for temperature-controlled logistics. The information related to vehicle performance captured by these devices is valuable, and thus the adoption rate of these trackers is high as compared to other types of GPS trackers.
Commercial vehicle segment is expected to lead the market. Deployment of GPS tracking device helps to track and monitor commercial vehicles such as trucks, buses, heavy commercial vehicles, and construction vehicles.
European region is expected to lead the market during the forecast period. Being the automotive manufacturing hub, various companies such as Teltonika UAB (Lithuania), Ruptela UAB (Lithuania), Neomatica LLC (Russia), and Box Telematics Ltd. (UK) are offering GPS tracking devices in the said market. In addition, various events, and conferences related to GPS tracking device are also driving the growth of the European market. APAC is expected to be the fastest-growing market in the overall market during the forecast period. The major driving factors for the growth of the market in APAC are increased number of manufacturing facilities, aging infrastructure, and asset’s safety and security.
Key market players include Calamp Corp. (US), Orbocomm Inc. (US), Sierra Wireless Inc. (Canada), Queclink Wireless Solutions Co., Ltd. (China), and Concox Information Technology Co., Ltd. (China), as well as exhibitions such as Munich Satellite Navigation Summit (Germany), NaviTech 2016 (Russia), among others.
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Market Dynamics
3.1.1. Growth of Commercial Vehicles
3.1.2. Smaller Size, Longer Life, and High Roi
3.1.3. Affordable Prices
3.2.1. Impact of Nonstandard Products and Several Environmental Factors Leads to Poor User Experience
3.2.2. Increasing Adoption of Hardware Agnostic Tracking Solutions
3.3.1. Usage of GPS Tracking Device for Usage-Based Insurance (UBI)
3.3.2. Advancement in the Software
4. Executive Summary
5. GPS Tracking Device Market, By Type
5.1. Standalone tracker
5.2. OBD tracker
5.3. Advance tracker
6. GPS Tracking Device Market, By Deployment Type
6.1. Commercial vehicles
6.2. Cargo and container
7. GPS Tracking Device Market, By Industry
7.1. Transportation and logistics
7.3. Oil and gas
7.4. Metals and mining
7.6. Others (education, retail, hospitality, agriculture, healthcare)
8. GPS Tracking Device Market, By Region
8.1. North America
8.2.4. Rest of Europe
8.3. Asia Pacific
8.3.3. South Korea
8.3.4. Rest of APAC
8.4. Rest of the World
8.4.1. South America
8.4.2. Middle East and Africa
9. Company Profiles
9.1. Leading Companies in GPS Tracking Device Market
9.1.1. Calamp Corporation
9.1.2. Sierra Wireless, Inc.
9.1.3. Orbocomm Inc.
9.1.4. Queclink Wireless Solutions Co ., Ltd
9.1.5. Shenzhen Concox Information Technology Co., Ltd
9.1.6. Laird PLC.
9.1.7. Tomtom International BV
9.1.8. Meitrack Group
9.1.9. Teltonika UAB
9.1.10. Atrack Technology Inc.
9.2. Other Companies in GPS Tracking Device Market
*Company introduction, financial information, recent developments, SWOT analysis
10. Conclusion and Recommendations