The Vehicle Tracking System Market is expected to witness CAGR growth of around 18% by 2027.
A comprehensive overview of the Vehicle Tracking System Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Vehicle Tracking System Market. The report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Vehicle Tracking System Market at the regional levels. The Vehicle Tracking System Market is expected to witness CAGR growth of around 18% by 2027.
Market Overview
Automotive telematics is a technology that sends, receives and store information relating to vehicles and drivers, via telecommunication devices. Global automotive telematics market is expected to grow at a rapid pace in the coming years, with approximately 104 million, or 88%, of new cars expected to have some form of connectivity by 2025. Tethered integration segment of the technology amongst the existing car stock is expected to stabilize at 28% by 2025. US is expected to lead sales of new cars with embedded telematics by 2025, while western European countries, Japan and BRIC nations are expected to provide abundant growth opportunities, owing to the rising penetration of mobile technology and upcoming strict regulations for driver safety.
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Vehicle Tracking System Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into:
· Active System
· Passive System
Based on Type, Active system is expected to witness high adoption owing to its reliability and accuracy. Active tracking system cost more compared to the passive tracking system. Passive system constantly collects data about vehicle position and stores it in the storage device. Wherein, active system uses internet connectivity to transmit the information about the vehicle location to the linked devices such as smartphone, laptop, and tablets etc.
By Technology, the market is primarily studied into:
· GPS-based tracking system
· Cellular network-based
· Satellite based system
Based on Technology, GPS-based tracking system dominates the market in 2020. GPS-based tracking system provide more accurate data compared to cellular network-based trackers; hence, adoption of GPS-based tracking system is higher, compared to the cellular network-based tracking system.
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By Vehicle Type, the market is primarily studied into:
· Commercial Vehicle
· Passenger vehicle
Based on Vehicle Type, Commercial Vehicle segment dominates the market. Growing demand for commercial vehicles in regions such as Latin America, Middle East, and Africa represents a possible growth opportunity for the market players.
By Application, the market is primarily studied into:
· Transportation and Logistics
· Manufacturing
· Aviation
· Retail
· Government Sector
· Others
Based on Application, Transportation and Logistics segment dominates the market. Geotab Inc. is one of the top players in the market and more than 1.5 million Geotab devices are currently in operation. The Geotab system is currently employed by a state police department (US) to track a fleet of about 1,400 vehicles.
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Vehicle Tracking System Market Region Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of World
Based on the estimation, Asia-Pacific is expected to witness significant growth during the analysed period. Increasing demand for commercial vehicles in countries such as China, India etc. is boosting the growth of the vehicle tracking system in the Asia-Pacific region.
The major players targeting the market includes:
· Tata Motors
· BYD
· Daimler AG
· AB Volvo
· Nikola Motor
· Rivian
· Ford Motor Company
· General Motors
· Honda Motor Company
· Tesla Inc.
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Vehicle Tracking System Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and advancements in the Vehicle Tracking System Market?
· Which factors are influencing the Vehicle Tracking System Market over the forecast period?
· What are the challenges, threats, and risks in the Vehicle Tracking System Market?
· Which factors are propelling and restraining the Vehicle Tracking System Market?
· What are the demanding regions of the Vehicle Tracking System globally?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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Table of Content:
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 VEHICLE TRACKING SYSTEM MARKET COVID-19 IMPACT
6 VEHICLE TRACKING SYSTEM MARKET REVENUE (USD BN), 2019-2027F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY TECHNOLOGY
9 MARKET INSIGHTS BY VEHICLE TYPE
10 MARKET INSIGHTS BY APPLICATION
11 MARKET INSIGHTS BY REGION
12 VEHICLE TRACKING SYSTEM MARKET DYNAMICS
13 VEHICLE TRACKING SYSTEM MARKET OPPORTUNITIES
14 VEHICLE TRACKING SYSTEM MARKET TRENDS
15 LEGAL & REGULATORY FRAMEWORK
16 DEMAND AND SUPPLY SIDE ANALYSIS
17 VALUE CHAIN ANALYSIS
18 COMPETITIVE SCENARIO
19 COMPANY PROFILED
20 DISCLAIMER
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