GPS Tracking Device Market size was USD 3.6 billion in 2024 and is poised to cross USD 17.6 billion by 2037, expanding at a profitable CAGR of 12.8% over the forecast period, i.e., 2025-2037. In 2025, the industry size of GPS tracking device is estimated at USD 4.1 billion.
The GPS tracking device market is forecast for profitable growth owing to rising demands for real-time tracking and fleet management solutions across various industries. The surging demands from logistics and transportation, automotive, construction, agriculture, insurance, and other sectors create a significantly large market of end users, benefiting manufacturers supplying GPS solutions. For instance, more than 500 shipments of GPS tracking devices were imported worldwide between March 2023 to February 2024 with Chile, the U.S., and Peru leading in imports.
A key driver of the GPS tracking device market is the rising integration with the Internet of Things (IoT) and cloud-based platforms expanding the capability of GPS devices. The global shift towards smart and connected systems creates profitable opportunities for the sector by bolstering the sector’s expansion. The sector leverages government mandates worldwide to install GPS tracking devices in commercial vehicles in a bid to improve road safety. For instance, in September 2023, Apple included NavlC, i.e., a GPS manufactured in India, in certain new iPhone 15 models and the government stated that NavlC is likely to be made mandatory for all cars and devices. Additionally, businesses are expanding in low-to-middle-income nations to provide affordable GPS device solutions assisting the continued growth of the sector.
The GPS tracking device market is positioned to provide lucrative opportunities in the development of compact, energy-efficient devices tailored to specific industry requirements. The proliferation of 5G connectivity has boosted the reliability of GPS tracking, leading to greater adoption rates. Furthermore, expansion of applications in personal tracking, disaster management, and wildlife monitoring creates new segments for the manufacturers to leverage. For instance, in June 2023, researchers at the University of Copenhagen developed an advanced GPS tracker named KineFox that is lightweight and can be used tracking of small and larger mammals. The trends indicate that the demand for high-performance tracking solutions is projected to increase during the forecast period, further boosting the growth of the market.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
12.8% |
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Base Year Market Size (2024) |
USD 3.6 billion |
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Forecast Year Market Size (2037) |
USD 17.6 billion |
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Regional Scope |
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Type (Standalone GPS, Advance Tracker, OBD Devices)
The standalone GPS segment is poised to hold over 43.4% GPS tracking device market share by the end of 2037. A significant driver of the rising adoption of standalone GPS devices is owed to their affordability and portability expanding end users in small-and-medium enterprises and individual users. Standalone GPS devices operate independently to provide accurate location data without the need to be integrated with additional systems.
Additionally, the surging use of location-based services has expanded utility in optimizing routes and monitoring assets. AI-integration in standalone GPS devices is projected to boost expansion of the market in the future. For instance, in October 2024, BoT Talk announced AI powered GPS communicator for kids to solve screen addiction.
The advance tracker segment of the GPS tracking device market is poised to register a significant growth during the forecast period. The rising demands for feature-rich solutions benefits the segment’s growth surge. Advance trackers go beyond regular location tracking, and offer features such as driver behavior analysis, geofencing, and IoT integration. The surge in consumer segments such as bikes, pets, travel necessitates advanced tracking and monitoring solutions creating a sustained demand for advanced trackers.
Application (Vehicle Tracking, Asset Tracking, Personal Tracking)
The vehicle tracking segment of the GPS tracking device market is poised to register the largest application and increase its revenue share by the end of the forecast period. GPS tracking of vehicles is essential in fleet management and logistics to improve efficiency of transportation. A major driver of the segment is government mandates to integrate GPS tracking systems in commercial vehicles to ensure safety and compliance.
Additionally, advancements in 5G and 4G connectivity have improved accuracy of vehicle trackers, especially in emerging economies, positioning them as indispensable components in new commercial vehicles. For instance, in July 2024, Ola Cabs announced decision to shift to in-house online maps called Ola Maps and will exit Google Maps. The surge in ride-hailing services is positioned to create continued demands for vehicle tracking GPS services assisting the continued growth of the sector.
Our in-depth analysis of the global GPS tracking device market includes the following segments:
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Type |
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Application |
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End use Industry |
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Europe Market Forecast
Europe GPS tracking device market is expected to capture revenue share of over 33.7% by 2037, in comparison to other regional markets. The sector’s growth is characterized by rising adoption of telematics solutions in diverse industries such as automotive & transportation. For instance, in September 2024, UK-based RAC Connected launched telematics partnership with Continental Automotive for fleet and business vehicle operators. Additionally, manufacturers can leverage the European Union (EU) mandates on driver monitoring system in new vehicles from 2022 to provide advanced GPS tracking devices to increase sales.
Germany remains a leading market in the GPS tracking device market of Europe. The robust automotive manufacturing sector in the country is driving demands for GPS tracking devices. Investments in advancing smart infrastructure and intelligent traffic management creates a steady demand for GPS devices in consumer and commercial segments. The sector is positioned to leverage a strong regulatory framework to simplify cross border surveillance of vehicles in Europe. For instance, in November 2024, Germany, France, and Netherlands pushed for or continued a GPS-track or the bugging of a vehicle on the territory of another member state in Europe.
Additionally, the surging adoption of location-based services in tourism and urban mobility highlights the growing adoption of GPS tracking devices in the tech-savvy domestic market of Germany, while the defense sector of the country is proving to be a growing end-user of GPS devices. For instance, in July 2022, BAE Systems delivered jam-resistant GPS receivers to the military forces of Germany.
France is a burgeoning market in the GPS tracking device market in Europe. Advancements in the urban mobility solutions is a key driver of the GPS tracking device market in France. The country remains a strategic transportation hub in Europe benefiting demands for GPS devices in cross-border services and freight logistics. Advancements in commercial mobility solutions, such as driverless shuttles are positioned to lead the demands for GPS tracking devices in the future. For instance, in October 2024, self-driving shuttles were deployed in a remote region of Southeastern France.
Additionally, the increase in electric vehicle (EV) registrations in the country is projected to boost demands of GPS tracking device integration owing to rising popularity of automated EVs. For instance, in May 2024, data from Avere France indicated EV registrations saw a 21% increase in the country in comparison to May 2023.
APAC Market Analysis
The GPS tracking device market of APAC is positioned to exhibit the fastest revenue growth. The sector’s growth is fueled by expanding logistics and transportation activities, and surging adoption of telematics in emerging economies. The revenue growth in the region is led by China, India, South Korea, and Japan. The region is characterized by a large-scale e-commerce sector, where supply chain management relies heavily on advanced tracking technologies. The future of the GPS tracking device market in Asia Pacific is promising owing to growing investments in digital infrastructure, smart city projects, and biometric identification technologies. For instance, in October 2024, Petnow launched their app that allows users to identify their dogs and cats by recognizing unique biometric patterns while positioning location-based GPS service that helps owners track and reunite with lost pets.
China is positioned as a leading domestic market in the GPS tracking device market of APAC. Advancements in IoT integration and adoption across diverse industries within the country is boosting the market’s growth. The transportation, logistics, and personal safety sectors are some of the key end users of GPS tracking devices in the country. A significant driver of the sector in the country is China’s position as accounting for the largest EV market globally with an estimated 1.5 million exports in 2023 creating surging demands for GPS tracking devices domestically to be integrated with EVs.
Additionally, the success of China’s Beidou, i.e., the country’s own version of GPS is positioned to create new opportunities in the domestic market for manufacturers to utilize the global GPS system or the domestic PNT system to provide robust tracking and monitoring solutions.
India is projected to establish itself as a major market in APAC’s GPS tracking device sector. The rapid expansion of the transportation and logistics sector in the country is positioned to drive demands for GPS tracking systems. The surging growth of ride sharing services in India, characterized by a large percentage of population requiring efficient mobility services, is projected to be a major contributor to demands for accurate location mapping and tracking solutions.
Additionally, the profitable growth of companies such as Uber, Ola, Rapido, etc., in the country is poised to continue demands for efficient GPS tracking devices for fleet management. For instance, in November 2023, Rapido announced the launch of cab services in Bengaluru, India.
The GPS tracking device market is projected to register a profitable growth trajectory during the forecast period. The key players operating within the sector are poised to leverage the favorable growth trends by investing in expanding their portfolios and provide advanced GPS tracking devices that can perform multiple functions.
Here are some key players in the GPS tracking device market:
Author Credits: Abhishek Verma
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