IMARC Group’s latest research report, titled “Vehicle Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the global vehicle tracking system market size, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global vehicle tracking system market reached a value of US$ 20.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 45.1 Billion by 2027, exhibiting a CAGR of 13.20% during 2022-2027. A vehicle tracking system uses a global positioning system (GPS) or cellular network to track and monitor a vehicle’s activity. It determines the precise location of vehicles and other mobile entities. The collected information can be stored within a tracking device or transmitted to a central control unit. The escalating demand for vehicle tracking systems is increasing due to the rising vehicle and driver security concerns. It is widely adopted to integrate with commercial vehicles and passenger vehicles to track the vehicle’s location for the safety of passengers and shipment of materials.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by component, type, vehicle type, application and industry vertical.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Vehicle Tracking System Market
- Strategies of major players and product offerings
The global market is majorly driven by the increasing number of road accidents. In line with this, government authorities of various countries are making regulations to integrate vehicle tracking devices with commercial and passenger vehicles. Furthermore, the rising demand for rental services and car leasing across developing countries enables vehicle rental companies to integrate tracking devices to improve their services. Apart from this, the introduction of a cellular vehicle tracking device is anticipated to contribute to the product demand as capabilities of 5G, such as enhanced speed and low latency, would drive the adoption of vehicle tracking devices in the coming years. Besides this, the integration of real-time monitoring and fuel management with vehicles is catalyzing the market growth.
Key Players Included in Global Vehicle Tracking System Market Research Report:
- AT&T Inc.
- Continental AG
- Geotab Inc.
- Inseego Corp.
- Robert Bosch GmbH
- Spireon Inc.
- Teletrac Navman (Vontier Corporation)
- TomTom N.V.
- Verizon Communications Inc.
COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Component:
- OBD Device/Tracker
- Standalone Tracker
- Vehicle Diagnostics
- Performance Measurement
- Fleet Analytics and Reporting
- Commercial Vehicles
- Passenger Vehicles
- Mobile Tracking
- Cellular Tracking
- Satellite Tracking
- Transportation and Logistics
- Construction and Manufacturing
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Vehicle Tracking System Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Vehicle Tracking System Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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