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.
The latest independent research report on Vehicle Tracking System Market explore investment in Market. It classify how companies deploying these technologies across various industry verticals aim to explore its future to become a major business disrupter. The Vehicle Tracking System study eludes very useful reviews and strategic assessment including the generic market trends, emerging technologies, industry drivers, challenges, regulatory policies that propel the market growth, along with major players profile and strategies.
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Key Players Mentioned in the Vehicle Tracking System Market Research Report:
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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Vehicle Tracking System Market Dynamics
Drivers
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.
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.
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.
Based on Vehicle Tracking System Market Segmentations
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
Vehicle Tracking System Market: Regional Segment Analysis (Regional Production Volume, Consumption Volume, Revenue and Growth Rate 2022-2029):
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America (Brazil, Argentina and Colombia etc.)
Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)
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This study also covers company profiling, specifications and product picture, sales, market share and contact information of various regional, international and local vendors of Vehicle Tracking System Market. The market proposition is frequently developing ahead with the rise in scientific innovation and Mand A activities in the industry. Additionally, many local and regional vendors are offering specific application products for varied end-users. The new merchant applicants in the market are finding it hard to compete with the international vendors based on reliability, quality and modernism in technology.
FIVE FORCES and PESTLE ANALYSIS:
In order to better understand Market condition five forces analysis is conducted that includes Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, Threat of rivalry.
-Political (Political policy and stability as well as trade, fiscal and taxation policies)
-Economical (Interest rates, employment or unemployment rates, raw material costs and foreign exchange rates)
-Social (Changing family demographics, education levels, cultural trends, attitude changes and changes in lifestyles)
-Technological (Changes in digital or mobile technology, automation, research and development)
-Legal (Employment legislation, consumer law, health and safety, international as well as trade regulation and restrictions)
-Environmental (Climate, recycling procedures, carbon footprint, waste disposal and sustainability)
Table of Contents
- Part 01: Executive Summary
- Part 02: Scope of the Vehicle Tracking System Market Report
- Part 03: Vehicle Tracking System Market Landscape
- Part 04: Vehicle Tracking System Market Sizing
- Part 05: Vehicle Tracking System Market Segmentation By Product
- Part 06: Five Forces Analysis
- Part 07: Customer Landscape
- Part 08: Geographic Landscape
- Part 09: Decision Framework
- Part 10: Drivers and Challenges
- Part 11: Market Trends
- Part 12: Vendor Landscape
- Part 13: Vendor Analysis
New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-vehicle-tracking-system-market
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