The GPS Tracking Device Market is expected to grow at a CAGR of 8.2% during the forecast period of 2018-2022. The market is increasingly rising in demand for GPS tracking devices among end-users.
The increasing use of GPS tracking devices has led to an increase in the number of gps tracker manufacturers in this industry. Major players in this market include Garmin, Fitbit, TomTom, and Magellan. Some of them have also introduced their own proprietary software for managing their devices, such as Garmin Connect and Fitbit Connect.
2022 Product Trends
Connected Health: There is an increasing demand for connected health products that can provide users with intelligent insights about their health status and wellness levels. This includes wearable sensors such as heart rate monitors and blood pressure monitors.
Versatile: The key thing about these trackers is that they can be used for personal or professional use. Parents can use them to watch over their children and employees to keep a close eye on their workplace.
Improved Performance: Trackers are getting smaller and more powerful in 2022 with new features like longer battery life, improved accuracy, and better security.
GPS Tracking Device Market Share by Manufacturers 2022
According to 2018 statistics, there were 5 different manufacturers that own the market share for GPS tracking devices. Garmin was the most popular brand, with a market share of 32.4%.
The best gps tracker is one that offers an easy-to-use interface and a long battery life. It should also be easy to use and have an accurate tracking system.
So Garmin topped because it makes the best gps tracker due to its user-friendly design and long battery life. The interface on Garmin devices is easy to use as well as their accuracy.
As a result of the increasing awareness on gps trackers, their market is expected to grow from $4,913 million in 2018 to $6,859 million by 2023. This can be attributed to the increasing demand for these devices as an effective tool for tracking and monitoring.
The world's GPS tracker market is segmented into four major categories: vehicle trackers, asset trackers, personal trackers, and sports tracking devices. In 2018, the automotive segment dominated the overall market in 2018. It is also expected to maintain the high trend with increasing demand for the trackers.
Health trackers are expected to follow up as the world gets aware of health monitoring with gps trackers.
Companies like Apple, Fitbit, Samsung, and Huawei are also making their way into the market with innovative products that are designed to offer users a better experience. So this is a guarantee of a safe and technology-enabled feature with the best GPS trackers offering high-quality features at affordable price points.
GPS Trackers in Different Categories 2022
GPS trackers are expected to be a $10 billion market in 2022. There are many different types of trackers that have been developed in the recent years, and they are all competing to get the attention of consumers.
The market is saturated with many different types of trackers but still has plenty of room for growth. This is because there is no one-size-fits-all type of tracker on the market. Some people want a tracker that can monitor their fitness while others need something more specific like a baby monitor or a pet tracker.
The future will see even more innovations in GPS tracking technology as companies continue to develop new products and services that use GPS technology for their own purposes.
Other types of fitness trackers are also available in the market today include:
- Fitness bands: these are typically worn on the wrist or around the neck
- Baby monitors: these are used to keep an eye on a baby’s sleeping patterns
- Smartwatches: these have GPS capabilities and can be used as a fitness tracker
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