Global Vehicle Tracking Systems Market Overview And Prospects – Includes Vehicle Tracking Systems Market Trends
Learn about the global vehicle tracking systems market through The Business Research Company, which provides information on vehicle tracking systems market size, vehicle tracking systems market drivers and restraints, vehicle tracking systems market players, the COVID-19 impact on the vehicle tracking systems market, and more.
The global vehicle tracking system market size is expected to grow from $14.24 billion in 2021 to $17.24 billion in 2022 at a compound annual growth rate (CAGR) of 21.1%. The global vehicle tracking market size is expected to grow to $33.14 billion in 2026 at a CAGR of 17.7%.
The growing demand for car rental and leasing services is expected to drive the growth of the vehicle tracking systems market going forward.
The vehicle tracking system market consists of sales of vehicle tracking systems by entities (organizations, sole traders, and, partnerships) that provide vehicles with real-time location tracking and regular monitoring. A vehicle tracking system is a system that enables the tracking and control of automobiles via an online computer, smartphone, tablet, or other devices, owing to GPS satellites. Vehicle tracking systems include a register and checkpoint with previous and current information, as well as real-time and historical tracking of vehicle speeds, routes taken, stopping points, and idling durations on maps.
Global Vehicle Tracking Systems Market Segments Include:
By Type: Active, Passive
By Vehicle: Commercial Vehicles, Passenger Vehicles
By Application: Mobile Tracking, Cellular Tracking, Satellite Tracking
By Industry Vertical: Transportation and Logistics, Construction and Manufacturing, Aviation, Retail, Government, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global vehicle tracking system market in 2021.
The introduction of 5G technology in the vehicle tracking system is shaping the vehicle tracking systems market. 5G technology offers great opportunities for in-vehicle connectivity and monitoring processes by providing faster data transfer and enhancing vehicle communication. Companies in the market are investing in developing GPS tracking solutions coupled with 5G technology.
Major Market Players: Verizon Connect, Spireon, Geotab, TomTom, Teletrac Navman, Cartrack, CalAmp, Teltonika, Orbcomm, Xirgo Global, Laipac, Trackimo, AirIQ, Fleetmatics, Mix Telematics, Trimble, Actsoft, Ctrack, and Masternaut.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Vehicle Tracking Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides vehicle tracking systems market overviews, analyzes and forecasts market size, share, vehicle tracking systems market players, vehicle tracking systems market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s vehicle tracking systems market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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