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July 2025
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.
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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.
The major trends in this market consists of partnerships, rise in number of fleet operators and government initiatives.
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.
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.
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.
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.
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.
By Component
By Connectivity
By Communication Tracker
By Vehicle
By Application
By Region
July 2025
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