Chile GPS Tracking Device Market 2023-2029 Companies, Growth, Share, Size, Forecast, Value, Analysis, Trends, COVID-19 Impact, Revenue & Industry: Market Forecast By Type, By Deployment Type, By Industry, By And Competitive Landscape

Chile GPS Tracking Device Market Synopsis

Chile GPS tracking device market has experienced notable growth in recent years, attributed to the expanding mining, logistics, and supply chain sectors. For instance, online retail sales have surged significantly, reaching 11.97 USD in 2021 as compared to the previous year's 9.4 billion USD this growth has notably bolstered the growth of the logistics and supply chain sector. Furthermore, in 2021, the mining sector alone contributed 14.6% to the country's GDP. Chile accounts for 26% of the world's copper demand and 22% of the lithium demand, highlighting its substantial role in global resource supply. The expansion of the supply chain and mining sector in Chile would propel the growth in the forecasted period. These systems offer a suite of features that enhance operational efficiency and optimize resource utilization, including real-time location tracking. This capability enables fleet managers to monitor the exact whereabouts of each vehicle, container, and shipment in the fleet.

According to this research, Chile GPS Tracking Device Market size is projected to grow at a CAGR of 7.7% during 2023-2029. The market is expected to witness significant growth in the coming years owing to the increasing demand for fleet management solutions and the rising E-Commerce sector coupled with the Chilean government's 2022 exploration budget reaching 713 million, the mining sector's growth is anticipated, to drive increased demand for GPS tracking devices as these devices optimize fleet operations, enhance safety, and ensure operational excellence in mining activities. These factors are driving the Chile GPS Tracking Device Market Growth. Moreover, the inauguration of a 15,000 square meter Fulfilment Center in Pudahuel, Santiago de Chile, with an annual capacity of 10 million units along with the government plan to incentivize logistic sector investments through a $500 million tax credit, is poised to significantly elevate the demand for GPS tracking devices in the coming years.

Market Segmentation by Type

OBD devices claimed the highest market revenue and volume share in 2022 as they plug directly into a vehicle's On-Board Diagnostics (OBD) port, that offer a seamless and non-intrusive solution for real-time tracking and monitoring. With the ongoing growth in demand for GPS tracking devices, OBD devices are poised to sustain their leading market position.

Market Segmentation by Deployment Type

The sale of commercial vehicles in Chile surged by 44.44% from 2020 to 2022, indicating a growing demand in the transportation and logistics sector. This trend is expected to persist, driving the need for efficient fleet management solutions, with GPS tracking playing a pivotal role in monitoring and optimizing expanding fleets.

Market Segmentation by Industry Type

In 2022, The transportation sector has secured the highest revenue share in GPS Tracking Device Market in Chile owing to the escalating traffic challenges faced by major urban centers like Santiago which increases the need for efficient fleet management as it has become paramount in optimizing logistics operations, ensuring timely deliveries, and overcoming the complexities of urban traffic.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years of Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Chile GPS Tracking Device Market Overview
• Chile GPS Tracking Device Market Outlook
• Chile GPS Tracking Device Market Forecast
• Historical Data and Forecast of Chile GPS Tracking Device Market Revenues and Volume for the Period 2019-2029F
• Historical Data and Forecast of Chile GPS Tracking Device Market Revenues, By Type, for the Period 2019-2029F
• Historical Data and Forecast of Chile GPS Tracking Device Market Volume, By Type, for the Period 2019-2029F
• Historical Data and Forecast of Chile GPS Tracking Device Market Revenues, By Deployment Type, for the Period 2019-2029F
• Historical Data and Forecast of Chile GPS Tracking Device Market Revenues, By Industry Type, for the Period 2019-2029F
• Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Trends
• Chile GPS Tracking Device Market Revenue Share, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Type

• OBD Devices
• Standalone Tracker
• Advance Tracker

By Deployment Type

• Commercial Vehicle
• Cargo & Container
• Other (Marine Deployment, Military and Defense Deployment, etc.)

By Industry Type

• Transportation
• Construction
• Government
• Mining
• Others (Environmental Monitoring, Retail and E-commerce, etc.)