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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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Vehicle tracking system refers to an advanced software that relies on global positioning systems (GPS) and cellular networks for acquiring location information and monitoring automobile performance. It includes vehicle maintenance, diagnostics, route optimization, surveillance and safety, and fuel management solutions. These systems assist in supervising various non-compliant employee behavior, reducing downtime, delivering data in real-time to fleet operators for resolving vehicle problems, and providing instant alerts at the time of emergency. On account of these properties, vehicle tracking systems are extensively employed in passenger cars and commercial vehicles. At present, it is commercially available in active and passive tracking solution types.
With the significant expansion in the automotive sector, there has been increasing demand for effective real-time monitoring solutions for accurate data collection. This can be attributed to the rising safety and security concerns amongst consumers, which is one of the prime factors currently driving the vehicle tracking system market growth. Additionally, the rapid growth in ride-hailing companies and the growing presence of mobility-as-a-services (MaaS) and app-based transportation services has further intensified the adoption of vehicle tracking systems in passenger cars and commercial vehicles, which is positively impacting the market growth. In line with this, various ongoing technological innovations, such as the integration of GPS, the Internet of things (IoT) and telematics to achieve higher operational efficiency, is acting as another major growth-inducing factor. They assist fleet managers in planning and identifying effective routes, addressing vehicle maintenance issues remotely, and monitoring automobile health through wireless communication. Other factors, such as strategic collaborations amongst key players and extensive research and development (R&D) activities to introduce cellular vehicle tracking systems for autonomous and semi-autonomous vehicles, are creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global vehicle tracking system market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, type, vehicle type, application and industry vertical.
Breakup by Component:
Breakup by Type:
Breakup by Vehicle Type:
Breakup by Application:
Breakup by Industry Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AT&T Inc., Cartrack, Continental AG, Geotab Inc., Inseego Corp., Orbcomm, Robert Bosch GmbH, Spireon Inc., Teletrac Navman (Vontier Corporation), TomTom N.V. and Verizon Communications Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Component, Type, Vehicle Type, Application, Industry Vertical, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||AT&T Inc., Cartrack, Continental AG, Geotab Inc., Inseego Corp., Orbcomm, Robert Bosch GmbH, Spireon Inc., Teletrac Navman (Vontier Corporation), TomTom N.V. and Verizon Communications Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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