Introduction of the Vehicle Tracking Systems Market Report

GPS tracking devices receive signals from satellites and calculate their position on a continuous basis. This data is sent to a server using a GPRS connection made by an integrated Global System for Mobile communications and GPRS modem, which is used in tracking the vehicles.

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Market Dynamic

Key Drivers and Emerging Trends

The synergy between information technology and telecommunications has spawned a whole new generation of solutions in different sectors, enabling businesses to enhance efficiencies, dramatically cut costs and speed deliveries. Moreover, the increasing fleet size of the transportation and logistics companies has made fleet tracking necessary for vehicle security and timely delivery. The rapid increase in commercial vehicle sales is expected to drive the demand for fleet tracking and maintenance operations. For instance, according to Organisation Internationale des Constructeurs d’Automobiles (OICA), Germany witnessed a significant increase in commercial vehicle sales from 386,282 units in 2018 to 409,801 units in 2019. Similarly, Canada also witnessed commercial vehicle sales of 1,479.2 million units in 2019 compared to 1,407.2 million units in 2018.

The COVID-19 pandemic has negatively impacted the demand for vehicle tracking systems in 2020. The overall automotive production volumes have declined globally on a year-on-year basis, mainly due to the decreased production volumes in North America and Europe, among other regions. Slowdown faced in some of the leading end-use industries, such as transportation & logistics, retail, and construction and manufacturing, has particularly translated into a dwindling demand for vehicle tracking systems.

Restraint in the Vehicle Tracking Systems Market

However, GPS locations can be inaccurate sometimes is which can be hindering factor for the overall growth of the market.

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Vehicle Type – Segment Analysis

Based on the vehicle type, passenger vehicles is witnessed to grow at a higher CAGR in the market over the forecast period. Passenger vehicles are popular among small and medium-sized businesses and usually serve the purpose of the pool vehicles or minivans to finish the daily jobs of businesses. This has resulted in increased demand for vehicle tracking systems in passenger vehicles. Moreover, the growing inclination of fleet operators to offer enhanced user experience is anticipated to lead to segment growth over the forecast period.

End-Use – Segment Analysis

Based on the end-use, transportation and logistics is anticipated to grow at a higher CAGR in the market over the forecast period. This is due to the increasing GPS tracking usage in the logistics industry. Besides, vehicle tracking systems ensure real-time location monitoring, the safety of both vehicle and driver, and reduced fuel consumption and administrative costs, all of which have positively impacted the growth of the vehicle tracking systems market.

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Regional – Segment Analysis:

Based on the regional coverage, North America is witnessed to grow at a higher CAGR in the market over the forecast period. The growing concerns of vehicle emission, security, and safety have strongly influenced the transportation industry. Governments across the developed nations have acknowledged these concerns and subsequently introduced stringent norms and developed safety programs. For instance, the U.S. government developed a ‘National Safety Program’ for its General Services Administration (GSA) fleet. Besides this, increasing development in Intelligent Transportation Systems has promoted the widespread adoption of smart technologies in fleet management.

Top Market Players

Various notable players operating in the market, include, Verizon, Geotab Inc., Cartrack, TomTom International B.V., CalAmp, Teltonika, ORBCOMM Inc., Xirgo Technologies, LLC, Laipac Technology Inc., Trackimo Inc., among others. 

Key Developments:

• • In 2019, Geotab Inc. acquired Florida Pest Control, a pest management business. Through this acquisition, the company planned to build customer density and also to increase its market presence in the North America region.

Segments covered in the Report:

The global vehicle tracking systems market has been segmented on the basis of vehicle type, end-use, and regions. Based on vehicle type, the market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Based on end-use, the market is segmented into transportation & logistics, construction & manufacturing, aviation, retail, government & defense, and others. 

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Key questions answered in this research report:

• • At what pace is global vehicle tracking systems market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in vehicle tracking systems market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global vehicle tracking systems market?
  • Which vehicle type generated maximum revenues in 2019 and identify the most promising vehicle type during the forecast period?
  • What are the various end-use areas of global vehicle tracking systems market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Vehicle Type, By End-Use, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Verizon, Geotab Inc., Cartrack, TomTom International B.V., CalAmp, Teltonika, ORBCOMM Inc., Xirgo Technologies, LLC, Laipac Technology Inc., Trackimo Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Vehicle Tracking Systems Market by Vehicle Type

• • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Global Vehicle Tracking Systems Market by End-Use

• • Transportation & Logistics
  • Construction & Manufacturing
  • Aviation
  • Retail
  • Government & Défense
  • Others

Global Vehicle Tracking Systems Market by Region

• • North America Vehicle Tracking Systems Market (Option 1: As a part of the free 25% customization)
    • North America Vehicle Tracking Systems Market by Vehicle Type
    • North America Vehicle Tracking Systems Market by End-Use
    • US Vehicle Tracking Systems Market All-Up
    • Canada Vehicle Tracking Systems Market All-Up
  • Europe Vehicle Tracking Systems Market (Option 2: As a part of the free 25% customization)
    • Europe Vehicle Tracking Systems Market by Vehicle Type
    • Europe Vehicle Tracking Systems Market by End-Use
    • UK Vehicle Tracking Systems Market All-Up
    • Germany Vehicle Tracking Systems Market All-Up
    • France Vehicle Tracking Systems Market All-Up
    • Spain Vehicle Tracking Systems Market All-Up
    • Rest of Europe Vehicle Tracking Systems Market All-Up
  • Asia-Pacific Vehicle Tracking Systems Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Vehicle Tracking Systems Market by Vehicle Type
    • Asia-Pacific Vehicle Tracking Systems Market by End-Use
    • China Vehicle Tracking Systems Market All-Up
    • India Vehicle Tracking Systems Market All-Up
    • Japan Vehicle Tracking Systems Market All-Up
    • Rest of APAC Vehicle Tracking Systems Market All-Up
  • RoW Vehicle Tracking Systems Market (Option 4: As a part of the free 25% customization)
    • RoW Vehicle Tracking Systems Market by Vehicle Type
    • RoW Vehicle Tracking Systems Market by End-Use
    • Brazil Vehicle Tracking Systems Market All-Up
    • South Africa Vehicle Tracking Systems Market All-Up
    • Saudi Arabia Vehicle Tracking Systems Market All-Up
    • UAE Vehicle Tracking Systems Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Vehicle Tracking Systems Market All-Up

Major Players Operating in the Vehicle Tracking Systems (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Verizon
  • Geotab Inc.
  • Cartrack
  • TomTom International B.V.
  • CalAmp
  • Teltonika
  • ORBCOMM Inc.
  • Xirgo Technologies, LLC
  • Laipac Technology Inc.
  • Trackimo Inc.