Vehicle Tracking Device Market Leads USD 30.02 Bn in 2025 at 16.55% CAGR

Vehicle Tracking Device Market Trends 2025: Hardware Dominance and Wireless Segment Growth

According to market projections, the vehicle tracking device industry is expected to grow from USD 25.76 billion in 2024 to USD 119.13 billion by 2034, reflecting a CAGR of 16.55%. North America led the vehicle tracking device market in revenue, while Asia Pacific is set for strong growth. Hardware dominated by component, but software is growing fast. Wired connectivity led the market, with wireless gaining momentum ahead.

The vehicle tracking device market is set to grow from USD 30.02 billion in 2025 to USD 119.13 billion by 2034, with an expected CAGR of 16.55% over the forecast period from 2025 to 2034. The growing cases of vehicle thefts in the U.S. and Canada coupled with rising emphasis on integrating advanced tracking in commercial vehicles to gather real-time insights has boosted the market growth.

Additionally, rapid investment by electronics companies to develop advanced sensors to enhance vehicle tracking along with numerous government initiatives aimed at mandating tracking systems in autonomous cars is playing a vital role in shaping the industrial landscape. The integration of AI and IoT in tracking devices is expected to create ample growth opportunities for the market players in the future.

Vehicle Tracking Device Market Growth and Trends 2025

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Introduction

The vehicle tracking device market is a prominent segment of the automotive industry. This industry deals in manufacturing and distribution of vehicle tracking devices across the world. There are various hardware components of these devices including OBD devices/advance tracker and standalone tracker. Also, the software components of these devices comprise of fleet management platforms, data analytics tools, mapping and navigation systems, real-time tracking software and some others. These trackers are designed for numerous types of vehicles consisting of passenger vehicles and commercial vehicles. It finds application in different industries consisting of transportation & logistics, construction, oil & gas, mining, emergency services and some others. This market is expected to rise significantly with the growth of the e-commerce sector in different parts of the globe.

Highlights of the Vehicle Tracking Device Market

  • North America generated highest revenue of the vehicle tracking device market.
  • Asia Pacific is expected to rise with a significant CAGR during the forecast period.
  • By component, the hardware segment held the largest share of the market.
  • By component, the software segment is expected to rise with a considerable CAGR during the forecast period.
  • By connectivity, the wired segment led the market.
  • By connectivity, the wireless segment is expected to grow with a notable CAGR during the forecast period.

The major trends in this market consists of partnerships, rise in number of fleet operators and government initiatives.

Partnerships

  • Numerous companies are partnering with automotive brands to deploy advanced tracking devices in modern cars.

Rise in Number of Fleet Operators

  • The rise in number of fleet operators in several countries such as India, China, Singapore, Germany and some others has increased the application of tracking devices.

Government Initiatives

  • Government of various nations are launching new initiatives for mandating tracking devices in commercial vehicles.

Component Insights

How did the Hardware Segment Led the Vehicle Tracking Device Market in 2025?

The hardware segment led the market. The growing demand for OBD device/ tracker and advance tracker from the automotive fleet operators has boosted the market expansion. Additionally, rapid investment by electronic brands for developing advanced sensors to track vehicles coupled with availability of semiconductor in the APAC region is playing a vital role in shaping the industrial landscape. Moreover, the rising emphasis on developing high-quality hardware solutions for tracking commercial vehicles is expected to drive the growth of the vehicle tracking device market.

The software segment is expected to expand with a considerable CAGR during the forecast period. The growing development in the software industry has boosted the market growth. Additionally, the rising emphasis of automotive companies to develop mapping and navigation software is playing a vital role in shaping the industrial landscape. Moreover, the increasing adoption of fleet management software by logistics companies is expected to boost the growth of the vehicle tracking device market.

Connectivity Insights

What Made the Wired to be the Most Dominant Segment of the Vehicle Tracking Device Market in 2025?

The wired segment dominated the market. The growing demand for wired tracking devices from fleet operators has boosted the market expansion. Additionally, the accuracy and stability provided by wired trackers is playing a vital role in shaping the industrial landscape. Moreover, rapid investment by market players to develop advanced trackers to cater the needs of commercial vehicles is expected to drive the growth of the vehicle tracking device market.

The wireless segment is expected to grow with a significant CAGR during the forecast period. The growing adoption of wireless trackers by ride-sharing companies to monitor the activities of vehicles has boosted the market growth. Moreover, numerous advantages of wireless vehicle trackers including remote monitoring, live location tracking, GPS integration and some others is expected to boost the growth of the vehicle tracking device market.

Geographical Insights

Vehicle Tracking Device Market Share 2024(%)

Why North America Dominated the Vehicle Tracking Device Market in 2025?

North America held the largest share of the vehicle tracking device market. The growing adoption of electric vehicles in several countries such as the U.S. and Canada has boosted the market expansion. Additionally rapid investment by public-sector entities for developing advanced vehicle tracking infrastructure coupled with the proliferation of automotive startups is playing a vital role in shaping the industrial landscape. Moreover, the presence of several market players such as Verizon, Sensata Technologies Inc., ORBCOMM and some others is expected to boost the growth of the vehicle tracking device market in this region.

  • In March 2025, Sensata Technologies Inc. launched SIM200 Insulation Monitoring Device (IMD) in the U.S. This monitoring device is designed for the EV consumers of North America.(Source: Sensata)

Asia Pacific is expected to grow with a significant CAGR during the forecast period. The rising use of advanced tracking devices in commercial vehicles to monitor real-time activities has boosted the market expansion. Also, the rise in the number of ride-sharing companies coupled with rapid development in the semiconductor industry is contributing to the industry in a positive direction. Moreover, the presence of various market players such as Coban, TKstar, Suntech, Queclink and some others is expected to drive the growth of the vehicle tracking device market in this region.

  • In June 2025, Queclink launched GL52RP in China. GL52RP is a tracking device that helps in finding stolen vehicles across the APAC region.(Source: Queclink)

Industry Leader Announcement

  • In June 2025, Dushyant Savadia, the founder and CEO of Amber Group made an announcement stating that, " I am deeply proud and excited about this phenomenal achievement by Amber, we’re changing the game for fleet management and consumers ushering in a new benchmark where intelligence meets action. This isn’t just tech advancement; it’s a testament to the brilliance of our AI engineers, backend architects, and security teams who’ve created something truly ahead of its time. The future is here and it’s powered by Amber."

Competitive Landscape

The vehicle tracking device market is a highly competitive industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Laird, Teltonika, TomTom International, AT&T Intelligence, Continental AG, Garmin, Geotab, Sensata, Vamosys, Verizon Communications and some others. These companies are constantly engaged in manufacturing vehicle tracking devices and adopting numerous strategies such as acquisitions, collaborations, business expansions, launches, partnerships, joint ventures, and some others to maintain their dominance in this industry.

Garmin Automotive OEM Revenue in USD Million (2022-24)

  • According to the annual report of Garmin, the revenue of the automotive OEM segment in 2022 was US$ 284 million that increased to US$ 611 million in 2024.(Source: Garmin)

Recent Developments

  • In February 2025, Trako launched a new vehicle tracking device. This tracking device is designed for the fleet owners of India.(Source: Aninews)
  • In June 2024, Dialog Axiata launched a new range of 4G-powered smart vehicle tracking solution. These tracking devices are designed for corporate clients, vehicle owners, and safety-conscious individuals. (Source: Telecom Review Asia)
  • In June 2024, Monimoto launched Monimoto 7. Monimoto 7 is an anti-theft GPS tracking devices that finds application in ATVs, motorcycles, boat engines, trailers, and some others.(Source: Thepack)

Vehicle Tracking Device Market Key Players

Vehicle Tracking Device Market Companies

  • AT&T Intelligence
  • Continental
  • Garmin
  • Geotab
  • Sensata
  • Vamosys
  • Verizon Communications
  • Laird
  • Teltonika
  • TomTom International

Vehicle Tracking Device Market Segments

By Component

  • Hardware
  • OBD device/ tracker and advance tracker
  • Standalone tracker
  • Software
  • Fleet management platforms
  • Data analytics tools
  • Mapping and navigation systems
  • Real-time tracking software
  • Others

By Connectivity

  • Wired
  • Wireless

By Communication Tracker

  • Cellular networks
  • Satellite
  • Dual mode

By Vehicle

  • Passenger vehicles
  • Hatchback
  • Sedan
  • SUV
  • Commercial vehicles
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)

By Application

  • Transportation & logistics
  • Construction
  • Emergency services
  • Oil & gas
  • Mining
  • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • The Middle East and Africa
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  • Insight Code: 1239
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Last Updated: 21 July 2025
  • Report Covered: Revenue + Volume
  • Historical Year: 2021-2023
  • Base Year: 2024
  • Estimated Years: 2025-2034

Meet the Team

Laxmi Narayan is a seasoned Research Analyst at Towards Automotive, with 5 years of specialized experience in market research, analysis, and consulting within the automotive technology domain.

Learn more about Laxmi Narayan

Aditi Shivarkar, with 14+ years of experience in automotive market research, specializes in tracking trends across vehicle technologies, mobility solutions, and materials innovation. She delivers accurate, actionable insights that drive excellence in the automotive sector—fueling strategies around electrification, sustainability, and advanced manufacturing.

Learn more about Aditi Shivarkar

FAQ's

AI and IoT are revolutionizing the industry by enabling predictive analytics, real-time data processing, remote diagnostics, and enhanced driver behavior monitoring. These advancements improve operational efficiency and reduce risks for fleet operators and insurers.

The hardware segment currently dominates due to the widespread demand for OBD and advanced trackers. However, the software segment is gaining momentum, especially in fleet analytics, navigation, and SaaS-based platforms for real-time tracking and management.

Wired trackers dominate due to high reliability and precision, especially in large fleets. However, wireless tracking devices are gaining traction due to easy installation, remote access, GPS integration, and support for IoT ecosystems, indicating strong future potential.

Governments globally are mandating GPS trackers in commercial fleets to improve road safety, emission control, and fleet compliance. These mandates, particularly in India, the U.S., and EU countries, are accelerating product deployment across industries.

Key adopters include transportation & logistics, emergency services, construction, mining, oil & gas, and e-commerce delivery fleets. These sectors benefit from enhanced asset monitoring, route optimization, and loss prevention capabilities.

Notable companies include Garmin, Verizon Communications, AT&T Intelligence, Teltonika, Continental, Geotab, Laird, Sensata, Vamosys, and TomTom. They focus on product innovation, partnerships, and regional expansion to maintain market leadership.

Recent launches include Sensata’s SIM200 Insulation Monitoring Device (U.S., 2025), Queclink’s GL52RP tracker (China, 2025), and Trako’s fleet tracker (India, 2025). These products feature advanced GPS, AI integration, and 4G capabilities for modern fleets.

The market offers high ROI potential in areas like AI-powered analytics platforms, wireless tracker development, SaaS fleet management, and regional expansion in Asia Pacific and Latin America. Strategic partnerships with OEMs can further enhance market access.

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