vehicle tracking systems market projected to reach USD 72 billion in 2028, with a robust CAGR of 19.3% during forecast period.

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.

To have an edge over the competition by knowing the market dynamics and current trends of “Vehicle Tracking Systems Market”, request for Sample Report here

Market Dynamic

Key Drivers and Emerging Trends

Incorporating telecommunications and information technology has helped different sectors improve efficiency, cut costs, and speed up deliveries. The rising digitalization of vehicles to track their performance acts as one of the major drivers fuelling the vehicle tracking market size. Also, the expeditious surge in sales of commercial vehicles is another factor stimulating the market demand. With the expansion in fleet size of logistics and transportation companies, fleet tracking is made necessary to ensure vehicle safety and timely delivery. For example, as stated by the Organisation Internationale des Constructeurs d’Automobiles (OICA), the sale of commercial vehicles in Germany increased from 386,282 units in 2018 to 409,801 units in 2019.

However, the outbreak of the global pandemic coronavirus has hampered the market demand. The strict lockdown norms enforced across the nations have disrupted the production of automotive across North American and European regions.

Restraint in the Vehicle Tracking Systems Market

High installation costs, growing concerns about cyber security, and inadequate knowledge among consumers are some of the major factors restraining the Vehicle Tracking Systems Market growth.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Vehicle Type – Segment Analysis

Based on the vehicle type, passenger vehicles is expected to witness a faster CAGR over the forecast period. Passenger vehicles have gained huge prominence among small and medium organizations as they can be used as minivans to complete daily jobs. Also, fleet operators are increasingly emphasizing improving the user experience, which is another factor driving the segmental growth.

End-Use – Segment Analysis

Based on the end-use, transportation and logistics is anticipated to hold a larger share over the forecast period. Vehicle tracking systems help reduce fuel consumption, administrative cost, ensures the safety of vehicle and driver and certifies real-time location administration. Further, the rising use of GPS tracking systems in the logistics industry will propel market growth.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Based on the regional coverage, North America is likely to expand at a higher CAGR over the coming years. The transportation industry is highly impacted due to the increasing concerns about vehicle safety and emission. Thus, to combat these increasing concerns, the government has enforced several strict norms and safety programs, which will bolster market growth. For example, the U.S. government launched a ”National Safety Program’ for its General Services Administration (GSA) fleet.

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. 

For detailed scope of the “Vehicle Tracking Systems Market” report request a Sample Copy of the report

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 (2028)	USD 72 billion
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.