Global Vehicle Tracking System Market, By Offering (Products, Services), System Type (Active Systems, Passive Systems), Technology (Connectivity Technology, Global Positioning System (GPS), Global Navigation Satellite System (GLONASS), Other Technologies), Vehicle Type (Passenger Vehicles, Commercial Vehicles), Vehicle Propulsion (ICE Vehicles, Electric Vehicles), Application (Satellite Tracking, Mobile Tracking, Cellular Tracking, Two-Wheeler Tracking, Private Cars, Fleet Management), Industry Vertical (Construction, Government, Transportation and Logistics, Retail, Aviation, Metals and Mining, Energy, Utility, Other Industry Verticals) - Industry Trends and Forecast to 2029.
Global Vehicle Tracking System Market Analysis and Size
The vehicle tracking system is highly being deployed in the vehicles to enhance vehicle safety and security, performance monitoring and communication medium. The vehicle tracking systems is known to work in a loop of GSM/GPRS, special software, GPS and digital maps.
- The vehicle tracking system market was valued at USD 5.64 billion in 2021 and is expected to reach USD 26.09 billion by 2029, registering a CAGR of 18.10% during the forecast period of 2022-2029. Passenger Vehicles accounts for the largest product segment owing to the rise in number of fleet operators across the developed and emerging economies. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Global Vehicle Tracking System Market Definition
A vehicle tracking system refers to a defense system for the vehicle against malicious and external threats for securing vehicle in all possible ways. This system includes prevention, detection, and response to threats through various technologies, such as GLONASS, ultrasonic, GPS and radio frequency identification.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Products, Services), System Type (Active Systems, Passive Systems), Technology (Connectivity Technology, Global Positioning System (GPS), Global Navigation Satellite System (GLONASS), Other Technologies), Vehicle Type (Passenger Vehicles, Commercial Vehicles), Vehicle Propulsion (ICE Vehicles, Electric Vehicles), Application (Satellite Tracking, Mobile Tracking, Cellular Tracking, Two-Wheeler Tracking, Private Cars, Fleet Management), Industry Vertical (Construction, Government, Transportation and Logistics, Retail, Aviation, Metals and Mining, Energy, Utility, Other Industry Verticals)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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AT&T Intellectual Property. (US), Cartrack (South Africa), Continental AG (Germany), Robert Bosch GmbH (Germany), Verizon. (US), Spireon, Inc. (US), Geotab Inc. (Canada), Inseego Corp. (US), TomTom International BV. (Netherlands), Teletrac Navman US Ltd (US), RUPTELA (Lithuania), Trackimo (US), nuevastech (India), Pricol Limited (Coimbatore), US Fleet Tracking (US), Mobiliz (US), Global Tracking Group, LLC. (US), RAM Tracking (Canada), Concox (China), Meitrack Group. (China), Nero Global (Canada), among others
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Market Opportunities
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Vehicle Tracking System Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
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Digitalization of Vehicles
The rapid digitalization of vehicles acts as one of the major factor driving the growth of vehicle tracking system market. The need for achieving improved productivity, profitability at reduced costs and operational efficiency have a positive impact on the market.
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Optimum Utilization of Resources
The vehicle tracking system includes features such as telematics asset tracking, fleet route planning and predictive fleet maintenance. These features assist in flexibility in operations and optimum utilization of resources that accelerate the market growth.
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Rise in Transportation
The increase in the fleet size of the transportation and logistics companies making t tracking necessary for vehicle security and timely delivery further influence the market.
Additionally, surge in investments, increased disposable income and expansion of the automotive sector positively affect the vehicle tracking system market.
Opportunities
Furthermore, introduction of 5G technology into vehicle connectivity extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in new customer segment across diverse industry verticals will further escalate the growth of vehicle tracking system market.
Restraints/Challenges faced by the Vehicle Tracking System Market
On the other hand, high cost associated with the installation and failure of GPS and cellular-based trackers due to limited or failed cellular or wireless network coverage are expected to obstruct market growth. Also, lack of awareness among the consumer is projected to challenge the automotive glass market in the forecast period of 2022-2029.
This automotive glass market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive glass market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Vehicle Tracking System Market
COVID-19 had a negative impact on the global vehicle tracking system market due to the commute restrictions. The market faced various challenges, such as regulatory and policy changes, working capital management, supply chain execution and dependency on labor. However, organizations prepared strategic cost-saving plans to manage the impact of the pandemic. The demand for vehicle tracking hardware and managing software has increased to manage and cater to the continuous supply of essentials in the post pandemic scenario.
Global Vehicle Tracking System Market Scope
The vehicle tracking system market is segmented on the basis of offering, system type, technology, vehicle type, vehicle propulsion, application and industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Products
- Services
Vehicle tracking system market on the basis of offering has been segmented as products, and services. Products have been further segmented into wired trackers, wireless trackers, onboard diagnostics device and advance trackers, standalone trackers, and other products. Services have been further segmented into integration and deployment services, managed services, and professional services.
System Type
- Active Systems
- Passive Systems
Based on system type, vehicle tracking system market has been segmented into active systems, and passive systems.
Technology
- Connectivity Technology
- Global Positioning System (GPS)
- Global Navigation Satellite System (GLONASS)
- Other Technologies
On the basis of technology, vehicle tracking system market has been segmented into connectivity technology, global positioning system (GPS), global navigation satellite system (GLONASS), and other technologies.
Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Based on vehicle type, vehicle tracking system market has been segmented into passenger vehicles, and commercial vehicles.
Vehicle Propulsion
- Ice Vehicles
- Electric Vehicles
On the basis of vehicle propulsion, vehicle tracking system market has been segmented into ICE vehicles, and electric vehicles.
Application
- Satellite Tracking
- Mobile Tracking
- Cellular Tracking
- Two-Wheeler Tracking
- Private Cars
- Fleet Management
On the basis of application, vehicle tracking system market has been segmented into satellite tracking, mobile tracking, cellular tracking, two-wheeler tracking, private cars, and fleet management.
Industry Vertical
- Construction
- Government
- Transportation and Logistics
- Retail
- Aviation
- Metals And Mining
- Energy
- Utility
- Other Industry Verticals
Vehicle tracking system has also been segmented on the basis of industry vertical into construction, government, transportation and logistics, retail, aviation, metals and mining, energy, utility, and other industry verticals.
Vehicle Tracking System Market Regional Analysis/Insights
The vehicle tracking system market is analyzed and market size insights and trends are provided by country, offering, system type, technology, vehicle type, vehicle propulsion, application and industry vertical.
The countries covered in the vehicle tracking system market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the vehicle tracking system market because of the rise in the concerns of vehicle emission, security, and safety within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rapid expansion of the e-commerce sector and advancements in networking technologies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vehicle Tracking System Market Share Analysis
The vehicle tracking system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vehicle tracking system market.
Some of the major players operating in the vehicle tracking system market are
- AT&T Intellectual Property. (US)
- Cartrack (South Africa)
- Continental AG (Germany)
- Robert Bosch GmbH (Germany)
- Verizon. (US)
- Spireon, Inc. (US)
- Geotab Inc. (Canada)
- Inseego Corp. (US)
- TomTom International BV. (Netherlands)
- Teletrac Navman US Ltd (US)
- RUPTELA (Lithuania)
- Trackimo (US)
- nuevastech (India)
- Pricol Limited (Coimbatore)
- US Fleet Tracking (US)
- Mobiliz (US)
- Global Tracking Group, LLC. (US)
- RAM Tracking (Canada)
- Concox (China)
- Meitrack Group. (China)
- Nero Global (Canada)
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