When it comes to running a business with fleet vehicles, one of the most important things to consider is a vehicle tracking system. This will give access to vital information that can help manage a business effectively and efficiently. It is also an ideal tool to ensure the safety of vehicles and drivers, as well as help achieve compliance requirements. Vehicle tracking systems allow businesses to streamline their route planning process. This can save time and money, while ensuring that drivers are sending the closest car to the next job. This can help increase the productivity of drivers, and most companies will see higher revenue to the bottom line with this functionality in place.
Market Dynamics:
Vehicle Tracking System Market is anticipated to gain traction from the rising demand for telematics solutions. The use of these systems enables fleet operators to improve efficiency through real-time traffic alerts, route planning, and cargo safety. They also help in reducing fuel expenses and administrative costs.
However, the lack of network infrastructure in underdeveloped regions and the rise in data privacy violations are expected to impede growth of the global vehicle tracking system market over the forecast period.
Key features of the study:
- This report provides in-depth analysis of the global vehicle tracking system market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global vehicle tracking system market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Trackimo Inc., Verizon, Laipac Technology Inc., Geotab Inc., Xirgo Technologies, Llc., Cartrack, Orbcomm Inc., Tomtom International B.V., Teltonika, and Calamp
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global vehicle tracking system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle tracking system market
Detailed Segmentation:
- Global Vehicle Tracking System Market, By Vehicle Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Global Vehicle Tracking System Market, By End Use:
- Transportation & Logistics
- Construction & Manufacturing
- Aviation
- Retail
- Government & Defense
- Others
- Global Vehicle Tracking System Market, By Technology Type:
- GPS/Satellite
- GPRS/Cellular Networks
- Dual Mode
- Global Vehicle Tracking System Market, By Type:
- Global Vehicle Tracking System Market, By Component Type:
- Hardware
- OBD Device/tracker & advance tracker
- Standalone Tracker
- Software
- Performance Measurement
- Vehicle Diagnostics
- Fleet Analytics and Reporting
- Driver Behavior Monitoring
- Others
- Global Vehicle Tracking System Market, By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
- Verizon
- Geotab Inc.
- Cartrack
- Tomtom International B.V
- Calamp
- Teltonika
- Orbcomm Inc.
- Xirgo Technologies, Llc
- Laipac Technology Inc
- Trackimo Inc.
