Vehicle Tracking System Market Industry Growth and forecast by 2022-2027
IMARC Group’s latest research report, titled “Vehicle Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the global vehicle tracking system market size, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The market reached a value of US$ 20.5 Billion in 2021. Looking forward, IMARC Group expects the global vehicle tracking system market to reach a value of US$ 45.1 Billion by 2027, exhibiting a CAGR of 13.20% during 2022-2027.
A vehicle tracking system includes a technology that is utilized to acquire accurate data about the real-time location of vehicles, using either a cellular network or GPS technology. It offers numerous benefits, such as improved productivity, reduced fuel expenses, efficient business and assets management, and enhanced security and safety. Consequently, it is extensively used across the transportation, logistics, construction, aviation, and retail industries.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by component, type, vehicle type, application and industry vertical.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Vehicle Tracking System Market
- Strategies of major players and product offerings
The global market is majorly driven by significant growth in the automotive sector. Furthermore, the increasing investments in the development of autonomous and semi-autonomous vehicles are creating a positive outlook for the market. Besides this, the growing requirement for vehicle tracking systems in the construction and manufacturing industries for checking engine runtime and detecting stolen equipment is catalyzing the market growth across the globe. Additionally, the proliferation of advanced technologies, such as IoT, automation and telematics, is also creating a positive outlook for the market.
Key Players Included in Global Vehicle Tracking System Market Research Report:
- AT&T Inc.
- Continental AG
- Geotab Inc.
- Inseego Corp.
- Robert Bosch GmbH
- Spireon Inc.
- Teletrac Navman (Vontier Corporation)
- TomTom N.V.
- Verizon Communications Inc.
COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Component:
- OBD Device/Tracker
- Standalone Tracker
- Vehicle Diagnostics
- Performance Measurement
- Fleet Analytics and Reporting
Breakup by Type:
Breakup by Vehicle Type:
- Commercial Vehicles
- Passenger Vehicles
Breakup by Application:
- Mobile Tracking
- Cellular Tracking
- Satellite Tracking
Breakup by Industry Vertical:
- Transportation and Logistics
- Construction and Manufacturing
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Vehicle Tracking System Market Research Report:
- Scope and Methodology
- Executive Summary
- Global Vehicle Tracking System Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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