Market research firm IndexBox has released a forecast for the global GPS trackers market covering 2026 to 2035. The report is a broad sizing exercise rather than a company or technology announcement, and the excerpt available gives few hard figures.
What the forecast says
According to IndexBox, the baseline scenario assumes continued growth in connected device adoption, gradual maturation of 5G and LPWAN networks, and steady enterprise investment in fleet and asset visibility. Under that scenario the market grows at a "moderate single-digit CAGR." The report projects a market index of about 185 by 2035, with 2025 set at 100. It does not state a dollar value in the text reviewed.
IndexBox expects hardware volumes to rise while average selling prices come under pressure from competition and chipset integration. Value growth is expected to outpace unit growth as software, analytics and subscription services take a larger share of revenue.
Segment split
IndexBox estimates end-use shares as follows:
- Fleet management and telematics: 34%
- Asset and inventory management: 22%
- Personal safety and wearables: 18%
- Pet and wildlife tracking: 14%
- Industrial and other applications: 12%
For fleets, the report cites fuel cost control, route optimization, insurance telematics and regulatory mandates for electronic logging in North America and Europe as demand drivers. It says adoption will spread from large fleets to small and medium enterprises as hardware costs fall. It also describes a shift from basic tracking toward platforms that combine GPS with engine diagnostics, video and AI analytics.
In asset tracking, the report points to cold chain, pharmaceutical logistics and construction equipment tracking, along with reusable tags, environmental sensors and satellite-cellular hybrid connectivity.
Constraints and players
IndexBox lists data privacy rules, battery life and connectivity limits in remote areas, semiconductor supply risk and smartphone substitution as restraints.
The report names Geotab, Samsara, Verizon Connect, CalAmp and Teltonika as representative fleet participants. Its wider company table also includes Sierra Wireless, ORBCOMM, Queclink, Garmin, Ruptela and Suntech, among others. It describes TomTom Telematics as now part of Bridgestone.
The forecast methodology and underlying data were not available in the excerpt, so the figures should be treated as the publisher's estimates.
Sources
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