What is Global Car GPS Trackers Market?
The Global Car GPS Trackers Market is a vast and dynamic sector that encompasses a wide range of devices used to track the location of vehicles around the world. These trackers are primarily used for navigation, security, and fleet management purposes. The market is driven by the increasing demand for vehicle safety and security, coupled with the rise in vehicle thefts globally. The advent of advanced technologies such as real-time tracking and geo-fencing has further propelled the growth of this market. The market is also influenced by various factors such as the increasing adoption of connected cars, the rise in the use of cloud-based technology for vehicle tracking, and the growing demand for intelligent transportation systems. The market is further segmented based on the type of tracker, application, and region.
Wired Car GPS Trackers, Wireless Car GPS Trackers in the Global Car GPS Trackers Market:
The Global Car GPS Trackers Market is bifurcated into wired and wireless trackers. Wired trackers are directly connected to the vehicle's power source and provide continuous tracking information. They are typically used in commercial vehicles for fleet management and theft prevention. On the other hand, wireless trackers are portable devices that use battery power and can be easily installed and removed. They are ideal for personal use and small businesses due to their flexibility and ease of use. Both types of trackers have their advantages and are chosen based on the specific needs and requirements of the user. The market for these trackers is influenced by various factors such as technological advancements, the increasing need for vehicle security, and the growing trend of connected cars.
Passenger Car, Commercial Vehicle in the Global Car GPS Trackers Market:
The Global Car GPS Trackers Market finds its application in both passenger cars and commercial vehicles. In passenger cars, these trackers are used for navigation, security, and tracking in case of theft. They provide real-time location updates and help in efficient route planning. In commercial vehicles, these trackers play a crucial role in fleet management. They help in monitoring the vehicle's location, speed, and route, thereby ensuring efficient logistics and delivery operations. They also aid in reducing fuel consumption and improving the overall operational efficiency. The market for these trackers in commercial vehicles is expected to grow significantly due to the increasing need for efficient fleet management and the rise in e-commerce activities.
Global Car GPS Trackers Market Outlook:
The future of the Global Car GPS Trackers Market looks promising. In 2023, the market was valued at a whopping US$ 22880 million and is expected to reach an impressive US$ 37350 million by 2030. This suggests a healthy compound annual growth rate (CAGR) of 7.1% during the forecast period from 2024 to 2030. China leads the market with a substantial share of 27%, followed closely by Europe with a 25% market share. The top five companies in this sector hold a dominant position, accounting for about 69% of the total market share. This data indicates a highly competitive market landscape with immense growth potential.
| Report Metric | Details |
| Report Name | Car GPS Trackers Market |
| Accounted market size in 2023 | US$ 22880 million |
| Forecasted market size in 2030 | US$ 37350 million |
| CAGR | 7.1% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Orbcomm, Meitrack, Queclink, Concox Information Technology, Teltonika, CalAmp, Tomtom, Shenzhen Eelink Communication Technology, Sierra Wireless, ThinkRace Technology, ARKNAV, Jimi Electronic, Trackimo, Suntech International, Ruptela, Shenzhen Coban Electronics, Starcom Systems, Gosafe Company Ltd., Huizhou Great-Will Industrial, GOTOP Limited |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
