How big is the Tracking Device Market | Industry Trends & Forecast 2025

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Code: MTA9465

Publication Date: Sep 2025

What is the size of Tracking Device Market?

According to 6Wresearch internal database and industry insights, the Tracking Device Market was valued at USD 7.6 Billion in 2024 and is expected to reach USD 12.3 Billion by 2031, growing at a CAGR of 6.9% during the 2025-2031.

The primary catalysts for this expansion include the growing demand for fleet and asset management, increased use of GPS and IoT-enabled tracking solutions, and emerging wearable and vehicle-based devices that make operations easier and safer and improve real-time monitoring.

Growth Factors for Tracking Device Industry

Growing demand for fleet management and vehicle tracking supports adoption.
Increased security and theft prevention needs support adoption of devices.
Integration with GPS and IoT technologies improves operational efficiency.
Expansion in the logistics, transportation, and supply chain industries drives demand.
Innovative wearable and portable tracking devices expand the market.

Tracking Device Market Trends

The trends within the tracking device market show an increase in usage of IoT-enabled GPS trackers for various applications, including vehicle, asset, and personal tracking. Companies focus on slim profile, energy-efficient, and smart tracking devices with cloud-based monitoring platforms.

Integration with mobile applications, real-time data analytics, and ease of use make these devices attractive to users. In addition, growing interest in fleet management, logistic optimization, wearable safety tracking devices, and tracking devices for healthcare, pets, and consumer electronics is increasing diversification in this market.

Emerging Developments in the Tracking Device Market

The tracking device market developments highlight innovations in AI-enabled and cloud-integrated GPS tracking systems. Companies are investing in wearable devices for personal safety and health monitoring.

Expansion into commercial fleets, logistics, and supply chain management is creating new opportunities. Collaboration with telecom and IoT solution providers is enhancing device connectivity. Furthermore, focus on battery efficiency, miniaturization, and secure data transmission is enabling broader adoption across industries.