Global GPS Fleet Tracking Software Market Share is Likely to Grow at a CAGR Value of 15.10% By 2028

16-Aug-2022 | Facts and Factors

According to Facts and Factors, the global GPS fleet tracking software market size was worth USD 16,528.40 million in 2021 and is estimated to grow to USD 38,431.09 million by 2028, with a compound annual growth rate (CAGR) of approximately 15.10% over the forecast period. The report analyzes the GPS fleet tracking software market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the GPS fleet tracking software

Global GPS Fleet Tracking Software Market Size

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Gps fleet tracking is a management tool frequently used by businesses in the transportation sector, including trucking and car services, to keep track of company assets like machinery, cars, and drivers. A GPS fleet tracking software is a mobile application that enables real-time monitoring of vehicle information, current location, and any other pertinent data. This type of vehicle management technology can be customized to optimize routes by avoiding congested regions or providing alternate routes if one of them is damaged. The global GPS fleet tracking software market includes on-premise and cloud-based systems that allow businesses to track their vehicles. Businesses can follow the whereabouts of their products and equipment in almost real-time using GPS fleet tracking software (telematics), which also provides pertinent information about fleets and driver performance. You can increase driver safety, manage fleet performance, maintain the condition of your vehicles, and adhere to legal requirements with the aid of GPS fleet tracking software. Gps fleet tracking software is frequently used in transportation, heavy equipment, construction, utilities, landscaping, agriculture, retail and manufacturing, distribution, government and public safety, and food and beverage industries.

Browse the full “GPS Fleet Tracking Software Market Size, Share, Growth Analysis Report By Deployment (Cloud-Based, On-Premises), By Component (Solution, Services), By Fleet Type (Commercial Fleet, Non-Commercial Fleet), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/gps-fleet-tracking-software-market

Factors like rising demand for freight and logistics services and growing demand for fleet management solutions to cut fuel consumption are predicted to propel market growth. These factors have led to an increase in the number of vehicles deployed on roads, and increasing usage rates, which would subsequently lead to an increase in the number of drivers using GPS. The rising need for fleet management and analytics solutions is one of the key development reasons for the global GPS fleet tracking software market. Fleet tracking software's ability to offer real-time data with simple mobile device access has further accelerated its acceptance in several worldwide businesses.

Several factors, such as the rising demand for cloud-based and big data analytics solutions and the expanding need for trustworthy and inexpensive GPS fleet tracking software, are expected to contribute to the market's substantial expansion. The requirement for operational proficiency in fleet management, necessary government rules on vehicle maintenance and tracking, and a surge in the usage of wireless technology because of its accessibility and low cost support the market's growth globally. However, the market's expansion globally is hampered by elements including cost sensitivity among local firms and a lack of consistent & seamless internet connectivity.

Segmental Overview

The global GPS fleet tracking software market is segregated based on deployment, component, fleet type, and region. Based on deployment, the market is segregated into cloud-based and on-premises. In 2021, the cloud-based segment dominated the global GPS fleet tracking software. Based on the component, the market is segregated into services and solutions. In 2021, the solution category dominated the global GPS fleet tracking software. Based on the fleet type, the market is segmented into commercial and non-commercial fleets. In 2021, the commercial fleet segment will dominate the global GPS fleet tracking software.

Regional Overview

The global GPS fleet tracking software market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominated the global GPS fleet tracking software market in 2021 due to the wide adoption of real-time tracking systems for efficient business operations. Automobile manufacturers, including Ford, General Motors, and Fiat-Chrysler, are increasingly using car monitoring systems in the US. Additionally, the area is a pioneer in embracing digital technologies, which helps the region's market expansion. The manufacturing and transportation sectors in the United States and Canada are experiencing increasing demand for vehicle monitoring systems, which is encouraging for the North American market outlook. In addition, the automotive and logistics sectors have been leading the way.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 16,528.40 Million

Projected Market Size in 2028

USD 38,431.09 Million

CAGR Growth Rate

15.10% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

GPS Insight, Teletrac Navman US Ltd., Omnitracs, US Fleet Tracking, GPS Trackit, One Step GPS, LLC, Verizon, NexTraq LLC, ClearPathGPS, Inc., Agile Fleet, Rarestep, Inc. (Fleetio), Rhino Fleet Tracking, BrickHouse Security, AT&T, TomTom Telematics B.V., Mix Telematics, Trimble Inc., Track Your Truck, LiveViewGPS Inc., Zubie, Inc., Fleet Trax, Phantom Ltd., and Others

Key Segment

By Deployment, Component, Fleet Type, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Competitive Landscape

Key players in the global GPS fleet tracking software market include GPS Insight, Teletrac Navman US Ltd., Omnitracs, US Fleet Tracking, GPS Trackit, One Step GPS, LLC, Verizon, NexTraq LLC, ClearPathGPS, Inc., Agile Fleet, Rarestep, Inc. (Fleetio), Rhino Fleet Tracking, BrickHouse Security, AT&T, TomTom Telematics B.V., Mix Telematics, Trimble Inc., Track Your Truck, LiveViewGPS Inc., Zubie, Inc., Fleet Trax, and Phantom Ltd.

The Global GPS Fleet Tracking Software Market is segmented as follows:

By Deployment

  • Cloud-Based
  • On-Premises

By Component

  • Solution
  • Services

By Fleet Type

  • Commercial Fleet
  • Non-Commercial Fleet

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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