USD 2.5 billion
GPS Market Size, Share, Growth Analysis, By Tracking Device, By Type, By Technology, By End User, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25F2001 |
Region:
Global |
Published Date: December, 2024
Pages:
165
|Tables:
68
|Figures:
71
GPS Market Insights
Global GPS Market size was valued at USD 2.5 billion in 2022 and is poised to grow from USD 2.8 billion in 2023 to USD 7 billion by 2031, growing at a CAGR of 12.1% during the forecast period (2024-2031).
An unobstructed line of sight to four or more GPS satellites on or near the Earth is required for a Global Positioning System (GPS) to provide position and timing information in all weather circumstances. Globally, GPS offers vital capabilities to users in the military, civil service, and business sectors. Anyone with a GPS receiver can access it, which is run by the American government. Since more businesses are adopting cutting-edge technology, the market for GPS (Global Positioning System) tracking devices is growing. In addition, it is anticipated that the demand for GPS-enabled smartphones would rise as e-hailing services become more widely used. Over the forecasted period, the market is also anticipated to be driven by an increase in smart mobility applications, including navigation, fleet management, satellite road traffic monitoring, and others. Furthermore, because of its smaller size, longer lifespan, and high return on investment, the market for GPS (Global Positioning System) tracking devices is anticipated to grow.
US GPS Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Transportation & Logistics
Fastest Growth
Transportation & Logistics
Growth Rate
12.1% CAGR
Global GPS Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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GPS Market Segmental Analysis
Global GPS Market is segmented by Tracking Device, Type, Technology, End User, Application and Region. Based on Tracking Device, the market is segmented into Satellite, Cellular. Based on Type, the market is segmented into Data Loggers, Data Pushers, Data Pullers. Based on Technology, the market is segmented into Standalone Tracker, Advance Tracker, OBD Device. Based on End User, the market is segmented into Automotive, Aerospace and Defence, Healthcare, Transportation, Metal and Mining, Others. Based on Application, the market is segmented into Vehicle Tracking, Fleet Management, Car Rental Services, Stolen Vehicle Recovery, Asset Tracking, Equipment and Machinery, Cargo and Freight, Personal Tracking, Elderly and Patient Safety, Fitness and Sports, Pet Tracking. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
GPS Market Analysis by Type
During the forecast time frame, the advance tracker is anticipated to increase at its fastest rate. Vehicles are properly equipped with advanced trackers, and freight and containers provide location information as well as motor conclusion and various boundaries for temperature-controlled coordination. When compared to other types of GPS trackers, these devices have a high appropriation rate since the information they collect about vehicle performance is significant.
GPS Market Analysis by Industry
The largest portion of the GPS market was accounted for by the transportation and logistics sector. During the hypothetical time frame, the aforementioned company must expand at the highest growth rate. For the following reasons, GPS systems are widely used in commercial vehicles such as trucks, buses, transporters, and light commercial vehicles. Enterprises can efficiently utilize their resources by tracking and managing these cars throughout time. Additionally ensuring vehicle safety are GPS tagging devices. In an emergency, GPS devices help locate the emergency vehicle and display the precise location from which a trouble signal was received.
Global GPS Market By Industry, 2021 (%)
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GPS Market Regional Insights
In 2021, North America dominated the global GPS market. It is predicted that North America would keep dominating the global GPS market during the forecast period. The region has already established its control over the market in recent years, largely as a result of rising demand for high-end navigation and increased use of advanced technologies. For the foreseeable future, the regional market is expected to benefit from about the same growth sources. Due to a rise in the use of GPS technology in the transportation, logistics, and healthcare sectors, North America now dominates the industry. Additionally, high military spending penetration by regional governments and regulatory agencies as well as rising mobile device penetration are factors contributing to the rise in demand for the GPS market. To compete in the area, several important firms in the region are also making significant investments in the creation of technology-based products and collaborating with others.
Because of the rapidly increasing use of smartphones in South Korea and China, it is predicted that the Asia Pacific will grow at a faster rate than the North American region. Due to the increasing demand for anti-poaching patrols monitoring the region, Asia-Pacific is anticipated to have a substantial increase during the forecast period. The availability of high-end military applications is expected to significantly increase the demand for GPS in Europe.
Global GPS Market By Geography, 2021 - 2028
- Largest
- Fastest
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GPS Market Dynamics
GPS Market Driver
- The key factor fueling the market's expansion is an increase in the use of global positioning systems (GPS) for navigation. Additionally, it is estimated that the market expansion would be supported over the forecast period by the rising smart transportation applications such as navigation, fleet management, satellite road traffic monitoring, and others.
- The development of the market is probably being driven by cutting-edge technologies like IoT, 4G, and 5G, as well as big data, cloud computing, and sophisticated analytics tools. Additionally, businesses can utilize these technologies to gather and analyze location-based data, which enables them to better serve their clients by offering tailored services. As a result, market growth is anticipated to pick up speed in the years to come.
GPS Market Restraint
- The accuracy of location and the lack of network infrastructure in developing nations are thought to be market restraints. Due to clock imperfections and satellite orbit movement, global positioning systems are likely to encounter technological challenges.
- The licensing industry is likewise constrained by strict rules and regulations that limit market expansion. Over the forecast period, the market for (GPS) global positioning systems is expected to face challenges related to regulatory approval for licensing.
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GPS Market Competitive Landscape
GPS companies are predicted to make friends with smartphone makers to benefit from significant potential in the cellular phone sector. Vendors might mostly concentrate on research and development in order to enhance client value and increase accuracy. For instance, Amazfit introduced its first smartwatch from the Zepp series in India in July 2021. The Zepp Z is a high-end product. It has an Alexa speech assistant and a built-in GPS.
GPS Market Top Players Company Profiles
- Garmin (United States)
- TomTom (Netherlands)
- Qualcomm (United States)
- Broadcom (United States)
- MediaTek (Taiwan)
- u-blox (Switzerland)
- Telit (United Kingdom)
- Quectel (China)
- Fibocom (China)
- Sierra Wireless (Canada)
- Navico (Norway)
- Trimble (United States)
- HERE Technologies (Germany)
- Esri (United States)
- Google (United States)
- Apple (United States)
- Thales (France)
- Raytheon Technologies (United States)
- Lockheed Martin (United States)
- Boeing (United States)
GPS Market Recent Development
- In April 2022, from Space Launch Complex 40 (SLC-40) at the Cape Canaveral Space Force Station in Florida, SpaceX launched 53 Starlink satellites into low-Earth orbit. This mission's first stage booster has already launched GPS III Space Vehicles 04 and 05, Inspiration 4, one Starlink mission, and Ax-1.
- In July 2021, using the Indian Space Research Organization's Navigation with Indian Constellation, Garmin released new portable devices (NavIC). The two gadgets, GPSMAP 66sr and GPSMAP 65s are made for a variety of uses, including tracking, mobile apps, fitness, outdoor enjoyment, and aviation and marine. Specialized features of the GPSMAP 66sr include night vision goggles. GPSMAP 65s, a handheld GNSS device includes sensors for elevation data and a barometer to tr
GPS Key Market Trends
- The market will soon have plenty of attractive prospects due to the rising need for IoT, big data, 4G and 5G networks, and cloud computing, which will accelerate the growth rate of the (GPS) global positioning systems market. Additionally, the rising demand for such cutting-edge technology products will present a wealth of expansion potential. Businesses in the market might take advantage of the need for GPS in a wide range of industrial applications, which is anticipated to grow at a rapid rate.
GPS Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the advance tracker is expected to grow at its quickest rate over the forecast time frame. The transportation and logistics industry accounted for the largest share of the GPS market. The global GPS market was dominated by North America in 2021. There will likely be a large increase in demand for GPS in Europe as a result of the availability of high-end military applications.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.5 billion |
| Market size value in 2031 | USD 7 billion |
| Growth Rate | 12.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on GPS Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on GPS Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the GPS Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GPS Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the GPS Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GPS Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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