GPS Tracking Device Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Standalone Tracker, OBD Device, Advanced Tracker), By Deployment Type (Commercial Vehicle, Cargo & Containers), By End User (Automotive, Aerospace, Defense, Healthcare transportation, Others), By Components (Personal GPS tracker, Real-Time GPS tracker, GPS logger), and Region Forecast 2020-2031

GPS Tracking Device Market size was valued at US$ 3,024 million in 2024 and is expected to reach US$ 6,811 million by 2031, growing at a significant CAGR of 12.3% from 2025-2031. The GPS tracking device is the device used to track or determine the current location. The GPS trackers can be used in various sectors like automobiles, shipment containers, personnel GPS trackers for personal use, and such more. The main key factor driving the market is the increasing demand for Internet on Things and Cloud technology.

The GPS trackers are enhanced by the use of modern technology which provides various specifications to the users. The increasing demand for information technology, telecom industry, and logistics to keep a track on real-time information of a product, vehicles or even an individual. The demand for vehicle tracking devices increased due to the increasing number of accident.The increased number of accidents has grabbed the attention of government authority and fleet management to implement tracking devices. The vehicle tracking segment is expected to grow at a significant rate in the forecasted period.

Furthermore, the increased sales of commercial vehicle and growing demand for IoT and Cloud technology is expected to boost the market in the forecasted years. Increasing focus on safety & security and increasing usage of digital maps are expected to provide an opportunity in the growth of market. Factors like strict rules and regulations regarding licensing and lack of network infrastructure in some underdeveloped countries and technological issues faced by these region people are the factors expected to hinder the growth of GPS tracking devices market. Geographically, Asia Pacific region is expected to hold major market share and is expected to dominate the global market in the forecasted years.

Key Developments:

• In September 2024: Media company Outside acquired MapMyFitness—a suite of GPS-based tracking apps including MapMyRide, MapMyRun, and MapMyWalk—from Under Armour.
• In June 2024: Genesys introduced an AI-integrated navigation map tailored for the automotive and mobility sectors. This initiative aims to encompass the largest navigable road network in India, enhancing navigation accuracy and efficiency.
• In February 2024: Petcube announced the expansion of its product lineup by introducing a GPS tracker equipped with customizable geofencing features. This device caters to the growing demand for pet tracking solutions, allowing owners to monitor their pets' real-time locations and set virtual boundaries.