Vehicle Tracking Market (2022 to 2029) – Growth, Trends, and Forecasts

Vehicle Tracking Market was valued at US$ 19.8 Bn. in 2021. The Global Vehicle Tracking Market size is estimated to grow at a CAGR of 13 % over the forecast period.

Vehicle Tracking Market Overview:

The report explores the Vehicle Tracking market's segments (Type, Application, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2021. The report investigates the Vehicle Tracking market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Vehicle Tracking market's contemporary competitive scenario. Vehicle Tracking MarketTo know about the Research Methodology:-Request Free Sample Report

Vehicle Tracking Market Dynamics:

Factors increasing the market growth

Vehicle Tracking is a system that comprises the use of automatic vehicle location in a single vehicle that includes software that collects fleet data for a complete picture of the location of the vehicle. The Vehicle Tracking system commonly uses GPS or GLONASS technology for identifying the location of a vehicle, but also Automatic Vehicle Location Technology is used for the detection of vehicles. These Vehicle's information can be seen on electronic maps with the use of the Internet or specialized software. GPS is Global Positioning System that includes vehicle tracking and monitoring, vehicle maintenance, vehicle diagnostics, fuel management, route optimization, driver management, and safety management. The Vehicle owners and the fleet operators can track the vehicles in real-time and can also check whether the driver is following the suggested path or if there are any diversions in the path. For maintaining such fleets, a cloud-based management system is required, such as artificial intelligence (AI), the intelligence of things (IoT), and big data analytics are used. Furthermore, some important activities of the vehicle tracking system include vehicle and driver tracking, assets management, two-way communication, driver safety, time management, and others. Some advantages of a vehicle tracking system are rapid response and access, covering a wide range area, low cost, and helping the vendors to increase and improve their productivity. All the factors and the advantages of the vehicle tracking system, fleet operators and logistics businesses can also invest in the vehicle tracking technology can lead to an increase in the demand for vehicle tracking in the market.  

Factors that are restraining the market growth

The vehicle tracking system has many advantages and also contributes a lot towards the emerging advanced technologies, but many vehicle owners and fleet operators are facing trouble in measuring the accurate fuel consumption of the vehicle, owing to the lack of technical knowledge of operating fuel monitoring tools. Therefore, by using the internet of things, the proper monitoring of the fuels can be done. There are special design sensors that are used in the fuel tanks that will send a notification to the user's mobile and sets and user's computers about the level of the fuel in the vehicle with the help of the cloud computing system. Hence, a proper understanding of the system is required. Data that is related to the vehicle contains sensitive information like the vehicle’s make, driver’s details, and the traveling routes. This data can be used to exploit and carry out some malicious and criminal activities, which may include vehicle robberies or planned crimes. Data privacy infringement is one of the main reasons which is discouraging the end customers from using these vehicle tracking systems. Also, there are events like unauthorized access to the multiple vehicle systems or breaking into the in-vehicle connectivity system. The other reason like that hackers can hack the system and can access the vehicle computer system, and can exploit the data that is stored in these systems. Hence, the data privacy infringement and the cyber security threat related to vehicle tracking systems can hinder the growth of the vehicle tracking market.  

Adoption of the Mobility-as-a-Service (MaaS)

There is a rise in the adoption of Mobility-as-a-Service (MaaS) for the reduction of traffic and carbon emissions. Many companies and governments across the world are encouraged to use this system. They are introducing ride-hailing, carpooling, sharing the car, and various other options for the commuters rather than using their vehicles. The companies which are using vehicle tracking systems are gaining advantages from this service by assisting their hardware and software devices and gaining various insights regarding pickup drop and vehicle telematics and payment activities. Currently, there is a surge in the adoption of mobility as a service. Some of the mobility service providers are DiDi, Ola, Uber, Lyft, and others. These factors are creating opportunities for the Vehicle Tracking Market expansion. Vehicle Tracking Market Trends: With the increasing advancements, Modernization in digital technologies has led to an increase in smartphone adoption, which further has contributed to easy access to online logistics services. This is increasing the demand for vehicle tracking systems. Also, the increase in adoption of Artificial Intelligence (AI), and the Internet of Things (IoT) has enhanced the service with this smart technology. Vehicle Tracking system commonly uses GPS or GLONASS technology for identifying the location of a vehicle, but also Automatic Vehicle Location Technology is used for the detection of vehicles. These Vehicle's information can be seen on electronic maps with the use of the Internet or specialized software. GPS is Global Positioning System that includes vehicle tracking and monitoring, vehicle maintenance, vehicle diagnostics, fuel management, route optimization, driver management, and safety management. Many companies and governments across the world are encouraged to use of Mobility-as-a-Service (MaaS) for the reduction of traffic and carbon emissions. Hence these factors are increasing the growth in the demand for Vehicle Tracking Market globally during the forecast period.

Vehicle Tracking Market Segment Analysis:

Based on Vehicle Type, the Vehicle Tracking market is segmented into Commercial Vehicles and Passenger Vehicles. The Passenger Vehicles segment held the largest market share in 2021. The Passenger Vehicles segment is mostly used by medium-sized and small-sized businesses. This led to an increase in the vehicle tracking systems in passenger vehicles. Also, the growing disposition of fleet operators has improved the experience of the end customers and has thereby anticipated the growth of the Passenger vehicles segment having the largest market share. Based on Applications: The Vehicle Tracking market is segmented into Mobile Tracking, Cellular tracking, and Satellite Tracking. Among these, Satellite tracking holds the maximum market share of the Vehicle Tracking Market. It is due to the increase in the usage of GPS, LTE, and WiMAX coupled with the satellite for tracing the routes and providing better productivity that has impacted positively to the growing market of the Vehicle Tracking Market globally. Hence the Satellite Tracking holds the maximum market share of the market. Vehicle Tracking Market

Vehicle Tracking Market Regional Insights:

North America held the largest market share accounting for 81% in 2021. It is due to the increasing advancements, Modernization in digital technologies has led to an increase in smartphone adoption, which further has contributed to easy access to online logistics services. This is increasing the demand for vehicle tracking systems. There is an increase in the Vehicle tracking systems like GPS or GLONASS technology for identifying the location of a vehicle, but also Automatic Vehicle Location Technology is used for the detection of vehicles. These Vehicle's information can be seen on electronic maps with the use of the Internet or specialized software. The Asia Pacific region is expected to witness significant growth at a CAGR of 13% through the forecast period. It is because the Asia Pacific region is a rapidly growing region with an increase in population, that the demand for vehicle tracking systems is also increasing and leading to the growth of the Vehicle Tracking Market. Hence the Asia Pacific region is expected to grow significantly during the forecast period. The objective of the report is to present a comprehensive analysis of the global Vehicle Tracking 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 reports also help in understanding the Vehicle Tracking Market dynamic and structure by analyzing the market segments and projecting the Vehicle Tracking Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Vehicle Tracking Market make the report investor’s guide.

Vehicle Tracking Market Scope: Inquire before buying

Global Vehicle Tracking Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 19.8 Bn.
Forecast Period 2022 to 2029 CAGR: 13% Market Size in 2029: US $ 52.63 Bn.
Segments Covered: by Type • Commercial Vehicles • Passenger Vehicles
by Application • Mobile Tracking • Cellular Tracking • Satellite Tracking
by Industry Vertical • Transportation and Logistics • Construction & Manufacturing • Aviation • Retail • Government • Other

Vehicle Tracking Market by Region

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

Vehicle Tracking Market Key Players:

Verizon • Geotab Inc. • Cartrack • TomTom International B.V. • CalAmp • Teltonika • ORBCOMM Inc. • Xirgo Technologies, LLC • Laipac Technology Inc. • Trackimo Inc. • Spireon Inc. • Inseego Corp. • Fortive Corporation (Teletrac Navman US Ltd) • AT&T Inc. • Continental AG • Robert Bosch GmbH • Verizon Communications Inc. • Geotab Inc. Frequently Asked Questions 1) What was the global automatic vehicle location system market size in 2021? Ans: In 2021, the global automatic vehicle location system market attained a value of e nearly US$ 19.8 billion. 2) What is the growth rate of the market? Ans: The market is projected to grow at a CAGR of 13% between 2022 and 2029. 3) Which region has the largest share in the Tracking as a Service Market? Ans: North America held the highest share in 2021 4) What are the major industry drivers? Ans: The major drivers of the market include safety and security concerns, increasing number of advanced vehicle security technologies, government-enforced regulations, increase in the deployment of intelligent transportation systems, digitalization of vehicles, rising urbanization, and rising transportation and logistics businesses. 5) What are the key industry trends in the global automatic vehicle location system market? Ans: An increase in fleet operations and the growth in commercial vehicle sales are the key industry trends propelling the market's growth.
1. Global Vehicle Tracking Market Size: Research Methodology 2. Global Vehicle Tracking Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Vehicle Tracking Market Size 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 Market Size: 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 • South America 3.12. COVID-19 Impact 4. Global Vehicle Tracking Market Size Segmentation 4.1. Global Vehicle Tracking Market Size, by Type (2021-2029) • Commercial Vehicles • Passenger Vehicles 4.2. Global Vehicle Tracking Market Size, by Application (2021-2029) • Mobile Tracking • Cellular Tracking • Satellite Tracking 4.3. Global Vehicle Tracking Market Size, by Industry (2021-2029) • Transportation and Logistics • Construction & Manufacturing • Aviation • Retail • Government • Other 5. North America Vehicle Tracking Market (2021-2029) 5.1. North America Vehicle Tracking Market Size, by Type (2021-2029) • Commercial Vehicles • Passenger Vehicles 5.2. North America Vehicle Tracking Market Size by Application (2021-2029) • Mobile Tracking • Cellular Tracking • Satellite Tracking 5.3. North America Vehicle Tracking Market, by Industry (2021-2029) • Transportation and Logistics • Construction & Manufacturing • Aviation • Retail • Government • Other 5.4. North America Vehicle Tracking Market, by Country (2021-2029) • United States • Canada • Mexico 6. European Vehicle Tracking Market (2021-2029) 6.1. European Vehicle Tracking Market, by Type (2021-2029) 6.2. European Vehicle Tracking Market, by Application (2021-2029) 6.3. European Vehicle Tracking Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Vehicle Tracking Market (2021-2029) 7.1. Asia Pacific Vehicle Tracking Market, by Type (2021-2029) 7.2. Asia Pacific Vehicle Tracking Market, by Application (2021-2029) 7.3. Asia Pacific Vehicle Tracking Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Vehicle Tracking Market (2021-2029) 8.1. The Middle East and Africa Vehicle Tracking Market, by Type (2021-2029) 8.2. The Middle East and Africa Vehicle Tracking Market, by Application (2021-2029) 8.3. The Middle East and Africa Vehicle Tracking Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Vehicle Tracking Market (2021-2029) 9.1. South America Vehicle Tracking Market, by Type (2021-2029) 9.2. South America Vehicle Tracking Market, by Application (2021-2029) 9.3. South America Vehicle Tracking Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South 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. Spireon Inc. 10.12. Inseego Corp. 10.13. Fortive Corporation (Teletrac Navman US Ltd) 10.14. AT&T Inc. 10.15. Continental AG 10.16. Robert Bosch GmbH 10.17. Verizon Communications Inc. 10.18. Geotab Inc.

About This Report

Report ID 12634
Category Automotive and Transportation
Published Date sep 2019
Updated Date Sept 2022
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