Vehicle Tracking System Market
PUBLISHED: 2022 ID: SMRC21923
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Vehicle Tracking System Market

Vehicle Tracking System Market Forecasts to 2028 - Global Analysis By Type (Active, Passive), Vehicle Type, (Passenger Vehicles, Light Commercial Vehicles) and By Geography

4.6 (66 reviews)
4.6 (66 reviews)
Published: 2022 ID: SMRC21923

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $25.3 BN

Projected Year Value (2028)

US $78.24 BN

CAGR (2022 - 2028)

20.7%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Fastest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Vehicle Tracking System Market is accounted for $25.3 billion in 2022 and is expected to reach $78.24 billion by 2028 growing at a CAGR of 20.7% during the forecast period. a vehicle tracking system is the system that allows tracking and controlling of vehicles via an online computer, smart phone, tablet, etc. on a 24/7 basis thanks to GPS satellites.

According to the ICCT, 40% to50% of trucking fleets in Canada is currently using telematics systems. The electronic logging device (ELD) mandates in the United States and Canada have created a ripe market for the adoption of telematics systems. In the United States. According to the U.S. Department of Transportation (DOT) National Highway Traffic Safety Administration, 37,133 people died in motor vehicle crashes; due to this government made compulsion to install tracking devices in all transport vehicles to track speed, location, and others. Further, in 2017 China government made compulsion to install tracking devices in all commercial and passenger vehicles.



Market Dynamics:

Driver:

Increased efficiency for the fleet management solutions

This system will alert fleet management anytime a vehicle necessitates maintenance. This promises that all automobile refurbishing necessities are met and reduces unplanned costs and problems. It also watches not only the vehicle but also the driver. The system gives a live map that is virtually instantaneously updated. With current tracking software, the consumer can also receive notifications whenever your employee or driver engages in any non-compliant behaviour such as abrupt braking, speeding, swerving, and so on. With such accurate data, it is simple to keep track of each driver and how carefully they adhere to company rules and road restrictions.

Restraint:

Location inexactness & drifting

GPS receivers rely on signals from at least four satellites. If they only connect with three, the positioning is not entirely accurate. When obstacles such as walls, buildings, skyscrapers, and trees obstruct a signal, problems can arise. Geomagnetic storms and other extreme atmospheric conditions can also cause problems. Moreover, the mapping technology used in conjunction with the GPS may be inaccurate or out of date, resulting in navigational errors. These are few factors hampering the market growth.

Opportunity:

Improve safety and security for vehicles

With the rising practice of the internet and technical advancements in connectivity, the demand for it has increased to guarantee vehicle safety and decline idle time. Several fleet owners have been using E-call services, for example, that have advanced fleet owners in getting emergency alerts. Hence, vehicle tracking technology can be used by fleet operators and logistics companies to increase profitability. The real-time position of a company car can be competently used to determine if it is in a secure place or not. Several vehicle GPS tracking systems have an SOS feature that the driver can use if they become stranded and want assistance. The button quickly sends a notification to the fleet manager, who may then dispatch help as soon as feasible. If the manager knows the car's actual position, they will know which vehicle to dispatch to the emergency task. Such variables would hasten the demand for these systems in the global market.

Threat:

Privacy & data concerns

Without their knowledge, GPS devices can be used to track people. A device, for example, can be installed in a car to track the victim’s location at all times. This method can also be used to help in nefarious and criminal activities such as stalking, breaking and entering kidnapping, and even murder.

Impact of Covid- 19

The outbreak of the COVID-19 pandemic brought unprecedented challenges for industries around the world. To contain the aggressive spread of the virus, governments worldwide have to introduce lockdown and social distancing mandates. The lockdowns had forced industries such as the automotive industry to halt manufacturing, assembly, and production in Europe, America, and Asia. The lockdown also negatively impacted the demand for passenger and commercial vehicles. The production of vehicle tracking system software and hardware also experienced the impact induced by low demand for the product.

The passenger vehicle segment is expected to be the largest during the forecast period

The passenger vehicle segment is expected to be the largest during the forecast period. The use of a tracking system by app-based transportation car leasing and renting businesses such as Ola, Uber, Careem; and Lyft, Inc., for smooth operational control is motivating the growth of the segment. The tracking system permits the companies to gather data such as average speed and distance travelled number of rides per day, and idle time to progress operational competence and effectiveness.

The retail segment is expected to have the highest CAGR during the forecast period

The retail segment is expected to have the highest CAGR during the forecast period. The ever-rising influence and dependency on e-commerce have encouraged retail companies to enlarge their delivery services and deliver fleets based on their delivery province parameter. The e-commerce delivery companies use the tracking system to gather data for creating delivery timelines; operation cost optimization, and enhanced productivity.

Region with highest share:

North America is projected to hold the largest market share during the forecast period. The development of intelligent systems has led to the implementation of technologies for fleet management. Moreover, increasing concerns over carbon emissions and rising awareness of vehicle fleet and cargo technology. The mandatory norms over safety norms by the government are also motivating the market growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, Factors such as technological repetition in networking, a surge in the sales of commercial and passenger vehicle sales, stringent government mandates and the growing popularity of the e-commerce sector in the province, and growing trade activities are motivating the market growth.



Key players in the market

Some of the key players profiled in the Vehicle Tracking System Market include AT&T Inc., Cartrack Holdings Limited, Continental AG, Robert Bosch GmbH, Verizon Communications Inc. , Spireon Inc., Geotab Inc. , Inseego Corp, US Fleet Tracking , TRACK GROUP, Orbocomm Inc.

Key Developments:

In June 2019: Orbocomm Inc. collaborated with Pole Star Space Applications Limited and Weatherdock AG to develop a Class B vessel tracking solution. This cutting-edge technology employs untamperable electronics to continuously monitor and track the location of car..

In August 2022: Verizon Connect unveiled its advanced Artificial Intelligence (AI) Dashcam to enable real-time detection of potentially dangerous events and promote driver safety.

Types Covered:
• Active
• Passive

Vehicle Types Covered:
• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Technology’s Covered:
• General Packet Radio Services (GPRS)
• Dual Mode
• Global Navigation Satellite System (GLONASS)
• Global Positioning System (GPS)/Satellite

Propulsions Covered:
• Internal Combustion Engine (ICE)
• Electric Vehicle

Components Covered:
• Hardware
• Software

Applications Covered:
• Cellular Tracking
• Mobile Tracking
• Satellite Tracking

End Users Covered:
• Utility
• Transportation & Logistic
• Retail
• Metals and Mining
• Government & Defense
• Government
• Energy
• Construction & Manufacturing
• Aviation

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Vehicle Tracking System Market, By Type
5.1 Introduction
5.2 Active
5.3 Passive

6 Global Vehicle Tracking System Market, By Vehicle Type
6.1 Introduction
6.2 Passenger Vehicles
6.3 Light Commercial Vehicles
6.4 Heavy Commercial Vehicles

7 Global Vehicle Tracking System Market, By Technology
7.1 Introduction
7.2 General Packet Radio Services (GPRS)
7.3 Dual Mode
7.4 Global Navigation Satellite System (GLONASS)
7.5 Global Positioning System (GPS)/Satellite

8 Global Vehicle Tracking System Market, By Propulsion
8.1 Introduction
8.2 Internal Combustion Engine (ICE)
8.3 Electric Vehicle

9 Global Vehicle Tracking System Market, By Component
9.1 Introduction
9.2 Hardware
9.2.1 On-Board Diagnostics (OBD) Device/ Tracker and Advance Tracker
9.2.2 Standalone Tracker
9.3 Software
9.3.1 Vehicle Diagnostics
9.3.2 Performance Management
9.3.3 Fleet Analytics & Reporting
9.3.4 Driver Behavior Monitoring

10 Global Vehicle Tracking System Market, By Application
10.1 Introduction
10.2 Cellular Tracking
10.3 Mobile Tracking
10.4 Satellite Tracking

11 Global Vehicle Tracking System Market, By End User
11.1 Introduction
11.2 Utility
11.3 Transportation & Logistic
11.4 Retail
11.5 Metals and Mining
11.6 Government & Defense
11.7 Government
11.8 Energy
11.9 Construction & Manufacturing
11.10 Aviation

12 Global Vehicle Tracking System Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa

13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies

14 Company Profiling
14.1 AT&T Inc.
14.2 Cartrack Holdings Limited
14.3 Continental AG
14.4 Robert Bosch GmbH
14.5 Verizon Communications Inc
14.6 Spireon Inc
14.7 Geotab Inc
14.8 Inseego Corp
14.9 US Fleet Tracking
14.10 TRACK GROUP
14.11 Orbocomm Inc

List of Tables
1 Global Vehicle Tracking System Market Outlook, By Region (2020-2028) ($MN)
2 Global Vehicle Tracking System Market Outlook, By Type (2020-2028) ($MN)
3 Global Vehicle Tracking System Market Outlook, By Active (2020-2028) ($MN)
4 Global Vehicle Tracking System Market Outlook, By Passive (2020-2028) ($MN)
5 Global Vehicle Tracking System Market Outlook, By Vehicle Type (2020-2028) ($MN)
6 Global Vehicle Tracking System Market Outlook, By Passenger Vehicles (2020-2028) ($MN)
7 Global Vehicle Tracking System Market Outlook, By Light Commercial Vehicles (2020-2028) ($MN)
8 Global Vehicle Tracking System Market Outlook, By Heavy Commercial Vehicles (2020-2028) ($MN)
9 Global Vehicle Tracking System Market Outlook, By Technology (2020-2028) ($MN)
10 Global Vehicle Tracking System Market Outlook, By General Packet Radio Services (GPRS) (2020-2028) ($MN)
11 Global Vehicle Tracking System Market Outlook, By Dual Mode (2020-2028) ($MN)
12 Global Vehicle Tracking System Market Outlook, By Global Navigation Satellite System (GLONASS) (2020-2028) ($MN)
13 Global Vehicle Tracking System Market Outlook, By Global Positioning System (GPS)/Satellite (2020-2028) ($MN)
14 Global Vehicle Tracking System Market Outlook, By Propulsion (2020-2028) ($MN)
15 Global Vehicle Tracking System Market Outlook, By Internal Combustion Engine (ICE) (2020-2028) ($MN)
16 Global Vehicle Tracking System Market Outlook, By Electric Vehicle (2020-2028) ($MN)
17 Global Vehicle Tracking System Market Outlook, By Component (2020-2028) ($MN)
18 Global Vehicle Tracking System Market Outlook, By Hardware (2020-2028) ($MN)
19 Global Vehicle Tracking System Market Outlook, By On-Board Diagnostics (OBD) Device/ Tracker and Advance Tracker (2020-2028) ($MN)
20 Global Vehicle Tracking System Market Outlook, By Standalone Tracker (2020-2028) ($MN)
21 Global Vehicle Tracking System Market Outlook, By Software (2020-2028) ($MN)
22 Global Vehicle Tracking System Market Outlook, By Vehicle Diagnostics (2020-2028) ($MN)
23 Global Vehicle Tracking System Market Outlook, By Performance Management (2020-2028) ($MN)
24 Global Vehicle Tracking System Market Outlook, By Fleet Analytics & Reporting (2020-2028) ($MN)
25 Global Vehicle Tracking System Market Outlook, By Driver Behavior Monitoring (2020-2028) ($MN)
26 Global Vehicle Tracking System Market Outlook, By Application (2020-2028) ($MN)
27 Global Vehicle Tracking System Market Outlook, By Cellular Tracking (2020-2028) ($MN)
28 Global Vehicle Tracking System Market Outlook, By Mobile Tracking (2020-2028) ($MN)
29 Global Vehicle Tracking System Market Outlook, By Satellite Tracking (2020-2028) ($MN)
30 Global Vehicle Tracking System Market Outlook, By End User (2020-2028) ($MN)
31 Global Vehicle Tracking System Market Outlook, By Utility (2020-2028) ($MN)
32 Global Vehicle Tracking System Market Outlook, By Transportation & Logistic (2020-2028) ($MN)
33 Global Vehicle Tracking System Market Outlook, By Retail (2020-2028) ($MN)
34 Global Vehicle Tracking System Market Outlook, By Metals and Mining (2020-2028) ($MN)
35 Global Vehicle Tracking System Market Outlook, By Government & Defense (2020-2028) ($MN)
36 Global Vehicle Tracking System Market Outlook, By Government (2020-2028) ($MN)
37 Global Vehicle Tracking System Market Outlook, By Energy (2020-2028) ($MN)
38 Global Vehicle Tracking System Market Outlook, By Construction & Manufacturing (2020-2028) ($MN)
39 Global Vehicle Tracking System Market Outlook, By Aviation (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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