Regional Outlook

In its regional analysis, MRFR has studied [FURL=https://www.marketresearchfuture.com/reports/gps-tracker-market-7017]GPS Tracking Devices Market[/FURL] in the regions of Europe, North America, Asia Pacific, and the rest of the world (RoW).

Given the massive demand for effectual fleet management among several transportation and logistics service suppliers in the United States (US), North America will be the leading market. Surging use of GPS tracking devices in law enforcement agencies also stimulates market growth. Apart from this, mounting demand for GPS trackers for construction assets and logistics helps elevate market position in Mexico. Increasing adoption of GPS tracker in the mining sector also benefits the Mexico market. North America had touched the valuation of USD 343.17 billion in 2017 and could grow at a rate of 12.75% during the evaluation period.

Asia Pacific market size could expand to USD 650.04 million by 2023, and it is expected to attain a CAGR of 16.42% during the review period. Soaring demand for wearable GPS tracking devices for human tracking as well as pets leads to the market’s progress. On top of this, the rising adoption of GPS trackers to track personal vehicles, construction assets, and cargo trailers in China could encourage market expansion in the coming years.

Europe has been estimated to advance at a CAGR of 15.02% during the assessment forecast period. The regional market could be worth USD 1,110 million by 2023, says MRFR. The accelerated demand for GPS trackers in commercial vehicles and automotive industry principally favors market growth in Germany. The robust demand for GPS trackers in devices like unmanned aerial vehicles and tracking drones leads to market advancement as well. Other than this, mounting adoption rate of GPS trackers by government and law enforcement authorities in the region is expected to motivate the market’s progress from 2018 to 2023.

Leading Companies

TomTom International BV, Calamp Corp, Orbocomm Inc., Sony Mobile Communications Inc, Laipac Technology, Inc., Verizon Wireless, and Queclink Wireless Solutions Co., Ltd, Sierra Wireless Inc, Spy Tech, Inc, Concox Information Technology Co., Ltd, Atrack Technology Inc., are some of the leading players in the GPS tracker market.

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