GPS Tracking Device Market Analysis

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: