Global GPS Tracking Device Market Projected to Triple by 2035, Report Says
Fleet Mandates and E-Commerce Growth Cited as Key Drivers Through Next Decade
The global market for GPS tracking devices is projected to grow from an estimated $4.58 billion in 2025 to $15.3 billion by 2035, according to a new report from Market Research Future, a New York-based market research firm.
The report projects a compound annual growth rate of 12.8% over the decade, up from an estimated $2.51 billion in 2021 and a projected $5.17 billion in 2026.
Two forces are driving the projected growth, according to the report: expanding fleet telematics mandates across North America, Europe and Asia-Pacific that increasingly require electronic logging and real-time vehicle tracking, and the growth of last-mile logistics tied to e-commerce fulfillment. Global logistics spending is expected to exceed $2.1 trillion annually by 2030, the report states, adding pressure on fleet operators and asset managers to adopt connected tracking systems.
The report cites a McKinsey Mobility survey finding that logistics operators combining real-time GPS tracking with AI-driven dispatch optimization cut fuel costs by 14% to 19% and improved on-time delivery rates by more than 21%, compared with operators using older systems.
On the hardware side, the report points to multi-constellation satellite receivers — combining the U.S. GPS system with Russia’s GLONASS, Europe’s Galileo and China’s BeiDou constellations — as a factor pushing sub-meter positioning accuracy in both dense urban and rural settings.
The report named a group of established telematics and hardware providers as key competitors in the space, including Trimble, CalAmp, Geotab, Garmin, Trackimo (owned by Amcrest), ORBCOMM, Spireon (owned by Solera), Verizon Connect, Samsara and PowerFleet.
Regionally, North America holds about 36% of the global market, the report states, citing the size of the U.S. commercial trucking fleet and compliance with electronic logging device mandates. Europe follows at about 28%, led by Germany, France, the United Kingdom and the Netherlands. Asia-Pacific is forecast to be the fastest-growing major region, driven by China’s commercial vehicle fleet and India’s expanding logistics sector.
The Middle East and Africa is projected to post the highest regional growth rate, at about 9.1% annually through 2035. Vehicle theft prevention remains the leading driver of tracker adoption in South America, the report states, with Brazil, Mexico and Colombia identified as the region’s most active markets.