Global GPS Fleet Tracking Software Market Growing On Expanding Transportation And Logistics Industry, Growing Vehicle Digitization, Rising Demand For Supply Chain Visibility and Increasing IoT Adoption
A GPS tracking system plays has been a crucial component of the navigation across moving platforms. The device is can be used for navigation by a vehicle or human himself with data input from the constellation of satellites also referred to as the Global Positioning System. The GPS systems are finding increased applications in commercial as well as individual requirements. The system is designed for tracking movements while being compatible with various tracking elements. The GPS role in fleet management has expanded from core tracking functionality to vehicle and driver safety monitoring.
The Global GPS Fleet Tracking Software market was estimated at around USD 15, 341 billion in 2019, and by the end of 2026, existing and expected developments would hit valuations of around USD 57,042 billion. The industry players and analysts predict the global GPS Fleet Tracking Software market growth of around 15.72 % in terms of CAGR.
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Various vendors are offering multiple sub-systems such as vehicle tracking app, speed warning, vehicle lock, vehicle health monitoring, etc. Additional security measures such as remote vehicle on-off and guide for efficient fuel consumption. Under the competitive landscape, the vendors are actively enhancing the product offering by including advanced analytics and display system for driving the profits of the clients for efficient fleet management. The competitive environment has brought prominence for negotiations on pricing, features, and implementation, wherein vendors are actively catering to the customized demand for expanding the client base. The global supply chain has been the major user of the GPS systems for monitoring the movement of fleets. The global demand for supply chain visibility is bringing new horizons for the global GPS fleet tracking systems. The penetration of advanced technology has provided clients with additional scope for profit margin enhancement. The fleet management entities are actively seeking systems for enhancing and simplified business functionalities and real-time fleet monitoring coupled with assistance in compliance with various driving norms.
In the foreseeable future, the digitization of transportation equipment, introduction of automatic and semi-automatic vehicles, and expanding the global transportation industry have collaboratively increased the consumption of GPS systems globally. The advanced analytics including predictive fleet maintenance and automated route planning is further benefiting the end-user of the GPS systems.
Top Market Players
- GPS Insight,
- Teletrac Navman US Ltd.,
- ClearPathGPS Inc.,
- Agile Fleet,
- Rarestep,
- Inc. (Fleetio),
- Omnitracs,
- US Fleet Tracking,
- GPS Trackit,
- One Step GPS LLC,
- Verizon,
- NexTraq LLC,
- Rhino Fleet Tracking,
- Mix Telematics,
- Trimble Inc.,
- Track Your Truck,
- BrickHouse Security,
- AT&T,
- TomTom Telematics B.V.,
- LiveViewGPS Inc.,
- Zubie Inc.,
- Fleet Trax,
- Phantom Ltd.
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On the basis of deployment type, the worldwide GPS Fleet Tracking Software market can be segmented into cloud-based and on-premise, with the ‘Cloud-Based’ category exhibiting the highest growth during the forecast period while the on-premise deployment segment leads the GPS Fleet Tracking Software market share. In terms of components, the global GPS Fleet Tracking Software market can be segmented into solutions and services. Based on fleet type, the market can be bifurcated into Commercial Fleet and Non-Commercial Flee. In terms of geography, the North American region held the leading market share with Europe registering around 18.5% CAGR. The regional coverage includes North America, Europe, Latin America, and Middle East & Africa in the global GPS Fleet Tracking Software market.
Frequently Asked Questions
What is GPS Fleet Tracking Software?
A GPS tracking system plays has been a crucial component of the navigation across moving platforms. The device is can be used for navigation by a vehicle or human himself with data input from the constellation of satellites also referred to as the Global Positioning System.
What are the key factors driving GPS Fleet Tracking Software Market expansion?
Expanding Transportation And Logistics Industry, Growing Vehicle Digitization, Rising Demand For Supply Chain Visibility and Increasing IoT Adoption is projected to raise demand for the GPS Fleet Tracking Software market.
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Which region will make notable contributions towards global GPS Fleet Tracking Software Market revenue?
Asia PacificGPS Fleet Tracking Software market is anticipated to register remarkable growth in the overall GPS Fleet Tracking Software market in the coming years. North America region held the leading market share with Europe registering around 15.72 % CAGR.
Which are the key players leveraging GPS Fleet Tracking Software Market growth?
Some of the leading and top GPS Fleet Tracking Software companies in the global GPS Fleet Tracking Software market include XirgoTechonologies, LLC, TomTom International, Seirra Wireless Inc., Teletrac Navman US Ltd., Meitrack Group, GPS Trackit, Laird PLC, Geotab Inc., NexTraq LLC, AT&T, Agile Fleet, Track Your Truck, Omnitracs, Verizon, GPS Insight, ClearPathGPS, Inc., US Fleet Tracking, Rarestep, Inc. (Fleetio), Phantom Ltd., LiveViewGPS Inc., One Step GPS, LLC, Zubie, Inc., Rhino Fleet Tracking, BrickHouse Security, Queclink Wireless Solutions, Mix Telematics, Trimble Inc., Fleet Trax among others.