Vehicle Tracking Systems Market: Global Industry Analysis and Forecast 2027

The Vehicle Tracking Systems Market is expected to reach US $59.22 billion by 2027, thanks to growth in the active segment. The report analyzes Vehicle Tracking Systems Market dynamics by region and applications.

Vehicle Tracking Systems Market Overview:

The global Vehicle Tracking Systems Market was valued at US $17.27 Bn. in 2020, and it is expected to reach US $59.22 Bn. by 2027 with a CAGR of 19.25% during the forecast period. A vehicle tracking system incorporates the use of autonomous vehicle location in individual cars with software that gathers fleet statistics to provide a complete picture of vehicle locations. For locating the car, most modern vehicle tracking systems use GLONASS or GPS technology, however other types of automatic vehicle location technology can also be used. Vehicle information is accessible via the Internet or specialist software on electronic maps and vehicle tracking technologies are being more widely used by urban public transportation authorities, particularly in large cities. Vehicle Tracking Systems Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered a base year however 2020's numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Vehicle Tracking Systems Market Dynamics:

Vehicles That Integrate Real-Time Surveillance:

Vehicle owners and fleet operators can monitor their cars in real time to see if they are following the recommended route or if there are any deviations. Cloud-based technologies, such as IoT (Internet of Things), AI (Artificial Intelligence) and big data, are used to collect primary data for fleets. For example, Techwave Consulting Inc. monitors high-value products with sensors placed in trucks that connect to the cloud and communicate data in real time. Vehicle and driver tracking, two-way communication, asset management, time management and driver safety, rescheduling the delivery task, and other tasks are all important in a vehicle tracking system. Besides that, the introduction of innovative products and benefits of using a vehicle tracking system, such as wide-area coverage, quick access and response, and cost reduction, assist vendors in increasing their productivity and efficiency, resulting in an increase in demand for vehicle tracking systems.

Fleet Operations Are On The Rise, Particularly In Emerging Markets:

With the rising usage of the internet and technical advancements in connectivity, the demand for car monitoring systems has increased in order to ensure vehicle safety and decrease idle time. E-call services, for example, have benefited fleet owners in receiving emergency alerts. Vehicle tracking technology can be used by fleet operators and logistics companies as one of the key profit drivers. For example, the electric/hybrid trend in Asia is being led by Japan, China, and South Korea. These measures are being done in order to increase the number of fleet vehicles on the road. As a result, rising regions such as Asia-Pacific and Latin America are expected to see quicker growth in fleet operations.

Breach of Data Privacy, As Well As Cyber Security Threats:

Vehicle-related data contains sensitive information such as the vehicle's make, the drivers' personal information, and the routes taken. The information can be used for malevolent or criminal purposes, such as vehicle robberies and organized crime. End users are hesitant to use car tracking systems because of data privacy concerns, particularly in North American countries and China, where rules are strict. Also, incidents include illegal access to various car connectivity solutions or breaking into the in-vehicle connectivity system. The main security problem is that the hacker has access to both the vehicle's computer system and the data it collects and saves. As a result, data privacy violations as well as cyber security risks to vehicle monitoring systems are likely to hamper the growth of market during the forecast period. Adoption Of Mobility-As-A-Service (Maas) Is Surging: To minimize carbon emissions and traffic, a mobility-as-a-service model has been developed by a number of governments and corporations around the world. Instead of driving their own car, they are bringing ride-hailing, carpooling, automobile sharing, and other options for commuters. Companies who supply vehicle tracking systems are expected to benefit from this service. The technology and software are expected to aid in the gathering of information on pick-ups, drop-offs, car telematics, and payment transactions. Zoomcar, for example, announced the 'Zoomcar Mobility Stack' (ZMS) in August 2020, a software stack for corporates and fleet owners to track vehicle status and driver behavior in real-time to minimize rash driving and control vehicular damage. In addition, mobility service providers such as Uber, Lyft, DiDi, Ola, and others have announced intentions to incorporate autonomous vehicles and robot-taxis into their fleets. As a result, the rapid adoption of Mobility-as-a-Service (MaaS) presents a variety of market expansion potential.

Global Vehicle Tracking Systems Market Segment Analysis:

Based on Vehicle Type, the Vehicle Tracking Systems Market is segmented as, passenger vehicles, light commercial vehicles, and heavy commercial vehicles. traditional, and advanced. In 2020, the passenger vehicles segment was dominant and held almost 42% of the overall market share in terms of revenue. Because of the growing number of fleet operators in developed and emerging nations, this category is expected to grow at the fastest CAGR of xx% over the forecast period. In addition, small and medium-sized enterprises prefer passenger vehicles. They are typically used as pool vehicles or minivans to complete business's everyday tasks. As a result, demand for vehicle tracking systems in passenger vehicles has skyrocketed. Also, the increased desire among fleet operators to provide a better customer experience is expected to drive market growth during the forecast period. Based on End-use, the Vehicle Tracking Systems Market is segmented as, logistics & transportation, manufacturing & construction, retail, aviation, defense & government, and others. In 2020, the logistics & transportation segment was dominant and held almost 27% of the overall market in terms of revenue. Because of the growing use of GPS tracking in the transportation and logistics industry, the segment is expected to grow at the fastest CAGR of xx% during the forecast period. Also, vehicle tracking systems provide real-time position monitoring, vehicle and driver safety, as well as reduced fuel usage and administrative costs, all of which have contributed to the market's rise. Thanks to the rise of connected automobiles, various companies are inclining to implement the system. Based on Technology, the Vehicle Tracking Systems Market is segmented as, dual mode, GPS/Satellite, and GPRS/Cellular Networks. In 2020, the GPS/Satellite segment was dominant and held almost xx% of the overall market in terms of revenue. Thanks to several variables, such as GPS’s capacity to function with various technologies such as LTE, GSM, and WiMAX, as well as GPS’s ability to be publicised with multiple satellites, the category is expected to grow at the fastest CAGR of xx% during the forecast period. Though it is more expensive than GPRS, its ability to map more efficient routes and increase productivity has supported the segment's growth. Based on Type, the Vehicle Tracking Systems Market is segmented as, active, and passive. In 2020, the active segment was dominant and held almost 84% of the overall market in terms of revenue. Thanks to its capacity to track real-time data via both satellite and cellular networks, the segment is expected to grow at the fastest CAGR of xx% during the forecast period. Despite their complexity, active vehicle tracking systems have a number of advantages, including labour law compliance, flexible networks, and accurate delivery time information. Vehicle Tracking Systems Market 1

Global Vehicle Tracking Systems Market Regional Insights:

North America had the highest revenue share of more than 30% in 2020, and is expected to expand at a steady rate of xx% during the forecast period. The transportation business has been heavily influenced by rising worries about vehicle security, emissions and safety. Governments in industrialized countries have recognized these concerns and have enacted strict regulations and implemented safety programmes as a result. For example, the US government's General Services Administration (GSA) fleet has a 'National Safety Program.' Also, the broad adoption of smart technology in fleet management has been supported by the rapid advancement of Intelligent Transportation Systems. The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global market dynamics, structure by analyzing the market segments and projecting the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.

Global Vehicle Tracking Systems Market Scope : Inquire before buying

Global Vehicle Tracking System Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $17.27 Bn.
Forecast Period 2021 to 2027 CAGR: 19.25% Market Size in 2027: US $59.22 Bn.
Segments Covered: by Vehicle Type • Passenger Vehicles • Light Commercial Vehicles • Heavy Commercial Vehicles
by End-use • Transportation & Logistics •Construction & Manufacturing •Aviation •Retail •Government & Defense •Others
by Technology • GPS/Satellite • GPRS/Cellular Networks • Dual Mode
by Type • Active • Passive

Global Vehicle Tracking Systems Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Global Vehicle Tracking Systems Market Key Players

Verizon • Geotab Inc. • Cartrack • TomTom International B.V. • CalAmp • Teltonika • Orbcomm Inc. • Xirgo Technologies, LLC • Laipac Technology Inc. • Trackimo Inc. • Continental AG • Robert Bosch GmbH • Inseego Corp. • Spireon Inc. • AT&T Inc. • Others

Frequently Asked Questions:

1. What is the forecast period considered for the Vehicle Tracking Systems Market report? Ans. The forecast period for the global Vehicle Tracking Systems Market is 2021-2027. 2. Which key factors are hindering the growth of the Vehicle Tracking Systems Market? Ans. The breach of data privacy, as well as cyber security threats are key factors expected to hinder the market growth during the forecast period. 3. What is the compound annual growth rate (CAGR) of the Vehicle Tracking Systems Market for the next 6 years? Ans. The global Vehicle Tracking Systems Market is expected to grow at a CAGR of 19.25% during the forecast period (2021-2027). 4. What are the key factors driving the growth of the Vehicle Tracking Systems Market? Ans. The increasing fleet operations particularly in the emerging markets and rising adoption of mobility as a service are the key factors expected to drive the growth of the market during the forecast period. 5. Which are the worldwide major key players covered for the Vehicle Tracking Systems Market report? Ans. Verizon, Geotab Inc., Cartrack, TomTom International B.V., CalAmp, Teltonika, Orbcomm Inc., Xirgo Technologies, LLC, Laipac Technology Inc., Trackimo Inc., Continental AG, Robert Bosch GmbH, Inseego Corp., Spireon Inc., AT&T Inc., and Others.
1. Global Vehicle Tracking Systems Market: Research Methodology 2. Global Vehicle Tracking Systems Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Vehicle Tracking Systems Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Vehicle Tracking Systems Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Vehicle Tracking Systems Market Segmentation 4.1. Global Vehicle Tracking Systems Market, by Vehicle Type (2020-2027) • Passenger Vehicles • Light Commercial Vehicles • Heavy Commercial Vehicles 4.2. Global Vehicle Tracking Systems Market, by End-use (2020-2027) • Transportation & Logistics • Construction & Manufacturing • Aviation • Retail • Government & Defense • Others 4.3. Global Vehicle Tracking Systems Market, by Technology (2020-2027) • GPS/Satellite • GPRS/Cellular Networks • Dual Mode 4.4. Global Vehicle Tracking Systems Market, by Type (2020-2027) • Active • Passive 5. North America Vehicle Tracking Systems Market (2020-2027) 5.1. North America Vehicle Tracking Systems Market, by Vehicle End-use (2020-2027) • Passenger Vehicles • Light Commercial Vehicles • Heavy Commercial Vehicles 5.2. North America Vehicle Tracking Systems Market, by End-use (2020-2027) • Transportation & Logistics • Construction & Manufacturing • Aviation • Retail • Government & Defense • Others 5.3. North America Vehicle Tracking Systems Market, by Technology (2020-2027) • GPS/Satellite • GPRS/Cellular Networks • Dual Mode 5.4. North America Vehicle Tracking Systems Market, by Type (2020-2027) • Active • Passive 5.5. North America Vehicle Tracking Systems Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Vehicle Tracking Systems Market (2020-2027) 6.1. European Vehicle Tracking Systems Market, by Vehicle End-use (2020-2027) 6.2. European Vehicle Tracking Systems Market, by Technology (2020-2027) 6.3. European Vehicle Tracking Systems Market, by End-use (2020-2027) 6.4. European Vehicle Tracking Systems Market, by Type (2020-2027) 6.5. European Vehicle Tracking Systems Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Vehicle Tracking Systems Market (2020-2027) 7.1. Asia Pacific Vehicle Tracking Systems Market, by Vehicle End-use (2020-2027) 7.2. Asia Pacific Vehicle Tracking Systems Market, by Technology (2020-2027) 7.3. Asia Pacific Vehicle Tracking Systems Market, by End-use (2020-2027) 7.4. Asia Pacific Vehicle Tracking Systems Market, by Type (2020-2027) 7.5. Asia Pacific Vehicle Tracking Systems Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Vehicle Tracking Systems Market (2020-2027) 8.1. The Middle East and Africa Vehicle Tracking Systems Market, by Vehicle End-use (2020-2027) 8.2. The Middle East and Africa Vehicle Tracking Systems Market, by Technology (2020-2027) 8.3. The Middle East and Africa Vehicle Tracking Systems Market, by End-use (2020-2027) 8.4. The Middle East and Africa Vehicle Tracking Systems Market, by Type (2020-2027) 8.5. The Middle East and Africa Vehicle Tracking Systems Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Vehicle Tracking Systems Market (2020-2027) 9.1. Latin America Vehicle Tracking Systems Market, by Vehicle End-use (2020-2027) 9.2. Latin America Vehicle Tracking Systems Market, by Technology (2020-2027) 9.3. Latin America Vehicle Tracking Systems Market, by End-use (2020-2027) 9.4. Latin America Vehicle Tracking Systems Market, by Type (2020-2027) 9.5. Latin America Vehicle Tracking Systems Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Verizon 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Geotab Inc. 10.3. Cartrack 10.4. TomTom International B.V. 10.5. CalAmp 10.6. Teltonika 10.7. Orbcomm Inc. 10.8. Xirgo Technologies, LLC 10.9. Laipac Technology Inc. 10.10. Trackimo Inc. 10.11. Continental AG 10.12. Robert Bosch GmbH 10.13. Inseego Corp. 10.14. Spireon Inc. 10.15. AT&T Inc. 10.16. Others

About This Report

Report ID 118112
Category Information Technology & Telecommunication
Published Date Aug 2021
Updated Date Nov 2021
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