Chile GPS Tracking Device Market size is projected to grow at a CAGR of 7.7% during 2023–2029

OBD devices segment based on type, attained the highest revenue share in Chile GPS Tracking Device Market – 6Wresearch

OBD devices secured the highest market revenue share in 2022, fueled by their widespread use in light commercial vehicles, which experienced a growth of 14.2% as compared to 2021. Moreover, the plug-and-play installation along with cost-effectiveness and real-time monitoring further contribute to their dominant position of OBD devices in Chile GPS tracking device market.

According to 6Wresearch, Chile GPS Tracking Device Market size is projected to grow at a CAGR of 7.7% during 2023–2029. The increasing demand for fleet management solutions in Chile is fueled by government investments to improve the efficiency of the public transportation system. Consequently, there would be a growing need for GPS devices to enhance fleet management, user information, and network operation. The E-commerce sector in Chile, projected to reach 17.6 billion by 2027 with an expected CAGR of 8.34 percent, signals substantial market growth. This growth aligns with the increasing demand for GPS tracking devices in Chile, particularly in logistics and delivery operations within the expanding E-commerce landscape, where efficient fleet management and real-time tracking are essential for optimization and customer satisfaction.”

Chile's 'Personal Data Protection Law' mandates transparency in personal data handling and explicit consent for GPS tracking. The stringent privacy regulations, emphasizing individual rights, may contribute to a decline in demand for GPS devices as companies face compliance requirements, impacting their usage and market demand in Chile.

According to Shubham Deep, Senior Research Analyst, 6Wresearch, in 2022, the commercial vehicles segment has garnered the highest revenue share in GPS tracking device market propelled by a 7.5% year-on-year growth in commercial vehicle sales from the 2021, fueled by the increasing demand of the transport and logistics industry.

The Chile GPS Tracking Device Market (2023-2029) report provides an in-depth analysis with 14 figures and 7 tables, covered 67 pages. The report comprehensively covers the market by type, deployment type, and industry type. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.