Global GPS Tracker Market Projected To Worth 2.92 Billion USD By 2022

Date: 2018-02-05

A GPS Tracker is a device, normally carried by a moving vehicle or person, that uses the Global Positioning System to determine and track its precise location, and hence that of its carrier, at intervals. The recorded location data can be stored within the tracking unit, or it may be transmitted to a central location database, or Internet-connected computer, using a cellular, radio, or satellite modem embedded in the unit.

The increasing commercial vehicle production embedded GPS Trackers; and various consumer electronic such as smart phones, bicycles are further propelling the growth of the global GPS Tracker market, according to report, the global GPS Tracker market is projected to hit 2.92 billion USD at a CAGR of 13.5% over 2018-2022.

In terms of application, the automotive and transportation industry held the largest share of 58% in the GPS tracker market in 2017, which also is expected to grow at the highest CAGR during the forecast period. GPS tracking device is widely used in commercial vehicles such as trucks, trailers, buses, and light commercial vehicles for tracking purposes.

Geographically, the Asia Pacific is expected to be the fastest growing market across the world during the forecast period in owing to increasing number of manufacturing facilities, aging infrastructure, and asset’s safety and security, also the other major driving factor for growth in Asia Pacific is the world largest vehicle sales and production there.

Global top manufacturers operating in GPS Tracker market are Calamp, Atrack Technology, Geotab, Laird, Maestro Wireless Solutions, Meitrack, Orbocomm, Queclink Wireless Solutions, Ruptela Uab, Shenzhen Coban Electronics, Shenzhen Concox Information Technology, Sierra Wireless, Teltonika Uab, Tomtom International, Trackimo, Xirgo Technologies among others.

Global GPS Tracker market share by geography as following:

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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520


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