Global GPS Tracking Device Market Size By Type, By Deployment Type, By Industry, By Geographic Scope And Forecast

Report Highlights

GPS Tracking Device Market Size And Forecast
GPS Tracking Device Market was valued at USD 1.70 Billion in 2019 and is projected to reach USD 4.18 Billion by 2027, growing at a CAGR of 12.87% from 2020 to 2027.

Global GPS Tracking Device Market Overview
GPS tracking devices are smaller in size and with time they are expected to become even smaller. With the advent of technology, it has been possible to develop thumbnail-sized GPS receivers and smaller batteries which makes it a long-lasting application. The batteries used in the GPS tracking device have a life of about 3-4 years which makes the operations smoother. Many of the major companies and players in the market will also be able to get a high ROI with a reduced payback period. Some of the advanced GPS tracking devices can provide crucial information related to vehicles such as vehicle engine diagnosis, temperature, and others. Furthermore, these devices can be used to monitor vehicles from a remote location. Along with all these benefits, technological advancements can provide real-time information to various industries with the help of software. Moreover, improved mapping coupled with a predictive diagnosis will drive the demand for adoption of GPS tracking devices across various industries which leads to growth in the global GPS tracking device market.

Global GPS Tracking Device Market: Segmentation Analysis
Global GPS Tracking Device Market is segmented based on Type, Deployment Type, Industry, And Geography.