Market Size of Vehicle Tracking System Industry to Hit USD 109.95 Billion by 2030 Growing CAGR of 19.7% From (2021-2030)

Vehicle Tracking System Industry Demands

Vehicle Tracking System Industry Demands

PORTLAND, OREGAON, UNITED STATES, April 17, 2024 / -- Allied Market Research recently published a report on the “Vehicle Tracking System Market”. According to the report, the global vehicle tracking system industry is anticipated to reach $109.95 billion by 2030, having witnessed a value of $17.37 billion in 2020, exhibiting a considerable CAGR of 19.7% during the forecast timeframe (2021-2030). This research report covers various aspects of the global vehicle tracking system market, consisting of current trends, market dynamics, pricing factors, segmental & regional analysis, and the overall business landscape.

Furthermore, the report presents detailed information on the primary factors driving the global vehicle tracking system market growth. In addition, it utilizes advanced analytical tools such as PORTER’s Five Forces analysis & SWOT analysis, enabling businesses to assess industry strengths, weaknesses, structural features, and competitiveness. This report assists organizations, investors, and stakeholders in making informed decisions for long-term success.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 :

𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 :

A vehicle tracking system is a technology that allows for real-time tracking and monitoring of vehicles. It uses GPS technology to monitor the vehicle's location, speed, direction, fuel consumption, and engine health. Fleet operators, logistics companies, and transportation companies often utilize vehicle tracking systems to enhance the efficiency, safety, and security of their vehicles. Moreover, these systems present useful information for optimizing routes, monitoring driver behavior, and scheduling maintenance.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 :

The research report analyzes the key factors that drive the growth of the global vehicle tracking system market size. Factors such as integration of real-time monitoring and fuel management in vehicles, and safety & security issues in transport services fuel the market growth. Furthermore, the rise in fleet activities, particularly in developing markets, is anticipated to drive revenue growth in the global vehicle tracking system market during the forecast period. On the other hand, cost considerations of fleet operators, breaches of data privacy, as well as cybersecurity threats and concerns about atmospheric interference are anticipated to impede the market growth to some extent. Nevertheless, the increased use of intelligent transport systems, the integration of 5G technology for vehicle connectivity, and the rising popularity of mobility-as-a-service (MaaS) offer lucrative growth opportunities for the market.

𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 :

𝐑𝐢𝐬𝐢𝐧𝐠 𝐝𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐯𝐞𝐡𝐢𝐜𝐥𝐞𝐬

The market for vehicle tracking systems is growing due to an increase in the sales of commercial vehicles, such as buses, trucks, and vans. These systems are crucial in ensuring timely deliveries, reducing costs, and enhancing productivity. They are used in various vehicles, including school buses, police patrol cars, and delivery vans, to provide benefits such as theft prevention and usage-based insurance.

Moreover, businesses and governments are increasingly implementing mobility-as-a-service initiatives that provide new opportunities. These initiatives encourage people to use alternative modes of transport, including ride-hailing and carpooling, instead of depending on their vehicles. This transformation is advantageous for companies providing vehicle tracking systems as they gain valuable knowledge of vehicle use and payment transactions.

For example, in August 2020, Zoomcar introduced the "Zoomcar Mobility Stack," a software stack designed for companies and fleet owners to monitor vehicle location and driver behavior in real time, aiming to prevent reckless driving and vehicle damage. Furthermore, major mobility service providers such as Ola, Uber, Lyft, and others have announced their intention to integrate autonomous vehicles and robot taxis into their fleets. This growth in the use of mobility-as-a-service (MaaS) offers lucrative opportunities for market growth, leading to an increase in revenue for vehicle tracking systems.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 :

𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 :

The global vehicle tracking system market is segmented based on type, vehicle type, application, industry vertical, and region.

𝐁𝐲 𝐓𝐲𝐩𝐞 :


𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞 :

Passenger Vehicles
Commercial Vehicles

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 :

Cellular Tracking
Mobile Tracking
Satellite Tracking

𝐁𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥 :

Construction & Manufacturing
Transportation and Logistics

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧 :

North America
Asia Pacific
South America
Middle East & Africa

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 :

𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

The research report delves into the competitive landscape of the global vehicle tracking system market, providing a thorough overview of the leading market players' investment strategies, product offerings, geographical coverage, company profiles, and market dominance. Moreover, these key companies are implementing different strategic actions to maintain their positions and strengthen their global presence. Some of the prominent players in the global vehicle tracking system sector are:

Verizon Communications Inc.
Continental AG
Teletrac Navman US Ltd.
Spireon Inc
Robert Bosch GmbH
AT&T Inc.
Cartrack Holdings Limited
TomTom, Inc.
Inseego Corp.
Geotab Inc.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐎𝐧 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 :

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐎𝐧 𝐁𝐨𝐚𝐫𝐝 𝐂𝐡𝐚𝐫𝐠𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 :

𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 :

𝐈𝐧𝐝𝐢𝐚 𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐖𝐢𝐫𝐢𝐧𝐠 𝐇𝐚𝐫𝐧𝐞𝐬𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 :

David Correa
Allied Market Research
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