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Vehicle Tracking Systems Market Size is Forecasted to Reach US$ 45.8 Billion by 2030

The global vehicle tracking systems market size is forecasted to hit from US$ 18.4 billion in 2021 to US$ 45.8 billion by 2030 and is anticipated to grow at compounded annual growth rate (CAGR) of 10.6% from 2021 to 2030, as per reports by market research and consulting organization Precedence Research.

The report contains 150+ pages with detailed analysis. The base year for the study has been considered 2021, the historic year 2017 to 2020, the forecast period considered is from 2021 to 2030.

The vehicle tracking systems market is analyzed on the basis of value (US$ Million), volume (Unit), and price (US$/Unit). The report offers exclusive insights to help companies make informed decisions to sustain growth through the assessment period.

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The vehicle tracking systems offer various advantages such as increased operational efficiency, reduced cost, vehicle monitoring, fuel management, vehicle maintenance, driver monitoring, and safety & security, which spurs the demand for the vehicle tracking systems across the globe. The proliferation of the advanced technologies such as IoT, automation, digitization, and telematics has significantly fostered the growth of the vehicle tracking systems market.

The rising adoption of the 5G technologies, rapidly growing ICT industry, and rising adoption of mobility-as-a-service is rapidly boosting the growth of the vehicle tracking systems market. The surging popularity of the electric vehicles across the globe owing to the rising government initiatives to promote emission free mobility solutions is augmenting the demand for the electric vehicle among the population. Further, the rising popularity of the autonomous driving vehicles among the premium customers is expected to foster the demand for the vehicle tracking systems. Hence, the growing demand for the latest electric and autonomous driving vehicles is expected to drive the global vehicle tracking systems market during the forecast period.

Report Scope of the Vehicle Tracking Systems Market

Report Highlights Details
Market Size in 2021 USD 18.4 Billion
Growth Rate CAGR of 10.6% From 2021 to 2030
Largest Market North America
Base Year 2021
Forecast Period 2021 to 2030
By Technology
  • GPS/Satellite
  • GPRS/Cellular Networks
  • Dual Mode
Regional Scope
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Competitive Intelligence

The report provides an understanding of the market composition and explains the role of established players and regional contributors. It is essential for the market players to make calculative moves and focus on client acquisition and retention. The detailed company profiles will provide the necessary intelligence to the reader. In order to maintain their share, the market players are focusing on strategies such as cross-border expansion, product differentiation and so on.

Some of the prominent players in the global vehicle tracking systems market are listed as below:

  • CalAmp
  • Cartrack Holdings Limited
  • Continental Ag
  • Geotab Inc.
  • Trackimo
  • Teltonika
  • TeletracNavman US
  • Tomtom, Inc.
  • Verizon Communication Inc.
  • Xirgo Technologies, LLC.

Market Dynamics

Driver

Rising penetration of online retailers

With the advancements in the digital technologies and increasing adoption of the smartphones coupled with the rising number of internet users across the globe, the emergence of the online retailers has gained momentum. Various online shopping platforms such as Amazon, eBay, Flipkart, and Wal-Mart has gained rapid traction among the consumers. These online retailers increasingly adopts the logistic services in order to efficiently deliver the goods to their customers. Hence, this has increased the demand for the vehicle tracking systems to provide the details regarding the orders to the customers.

Restraints

Lack of accuracy owing to the unfavorable weather conditions

The GPS technologies face difficulties in providing accurate locations and routes sometimes owing to the unfavorable weather conditions. This is a major drawback of the vehicle tracking systems that may hamper the market growth during the forecast period.

Opportunities

Rising adoption of smart logistics

The proliferation of latest technologies like AI and IoT has boosted its adoption in the logistics. These latest technologies are expected to enhance the vehicle tracking performances and hence promoted the growth of the smart logistics.

Challenges

Privacy and network security issues

The major challenge faced by the digital technologies is the privacy and the network security concerns. The market players are constantly involved in enhancing their services and improve the privacy and network security related issues.

Regional Snapshot

North America dominated the global vehicle tracking systems market, accounting for over 31% of the market share in 2020. This is attributed to the increased penetration of the e-commerce industry. The increased demand for the logistics solutions by the e-commerce is boosting the demand for the commercial vehicle. Moreover, increased demand for the passenger vehicles in the region has significant contribution in the growth of the North America vehicle tracking systems market. The rising demand for the electric passenger vehicles due to the increased disposable income, increased environment consciousness, and improved standard of living is further expected to drive the market growth in this region.

On the other hand, Asia Pacific is estimated to be the most opportunistic market during the forecast period. Asia Pacific is the home to around 60% of the global population. The demand for the public transportation is high owing to the huge presence of middle and low-income consumers. Furthermore, the rising penetration of the e-commerce is expected to drive the market growth in the forthcoming years. The growing number of commercial vehicles owing to the rising commercial activities is augmenting the growth of the vehicle tracking systems market.

Report Highlights

  • Based on the vehicle type, the passenger vehicle segment dominated the market with over 40% of the market share in 2020. This is simply attributed to the increased adoption of the passenger vehicle among the global population owing to increased disposable income and rising demand for the luxury consumer products. In some countries, the personal vehicles are a symbol of prosperity, which further boosts the demand for the passenger vehicle among the common public.
  • Based on the technology, the GPS/Satellite is the dominating and the fastest-growing segment. This is due to the increased efficiency of the GPS to publicize with the satellites and provide accurate routes and location, which increases the efficiency of the vehicle tracking systems.
  • Based on the component, the software segment dominated the market, garnering over 65% of the market share in 2020. The ability of the software to provide various benefits such as vehicle monitoring, fuel management, vehicle maintenance, driver monitoring, and safety & security has resulted in its dominance and is expected to sustain its position throughout the forecast period.

Segments Covered in the Report

By Vehicle Type

  • Heavy Commercial Vehicles
  • Passenger Vehicles
  • Light Commercial Vehicles

By Technology

  • GPS/Satellite
  • GPRS/Cellular Networks
  • Dual Mode

By Component

  • Software
  • Hardware

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global vehicle tracking systems market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for vehicle tracking systems are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Vehicle Tracking Systems Market 

5.1. COVID-19 Landscape: Vehicle Tracking Systems Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Vehicle Tracking Systems Market, By Vehicle

8.1. Vehicle Tracking Systems Market, by Vehicle Type, 2021-2030

8.1.1. Heavy Commercial Vehicles

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Passenger Vehicles

8.1.2.1. Market Revenue and Forecast (2019-2030)

8.1.3. Light Commercial Vehicles

8.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Vehicle Tracking Systems Market, By Technology

9.1. Vehicle Tracking Systems Market, by Technology, 2021-2030

9.1.1. GPS/Satellite

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. GPRS/Cellular Networks

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Dual Mode

9.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Vehicle Tracking Systems Market, By Component

10.1. Vehicle Tracking Systems Market, by Component, 2021-2030

10.1.1. Software

10.1.1.1. Market Revenue and Forecast (2019-2030)

10.1.2. Hardware

10.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 11. Global Vehicle Tracking Systems Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.1.2. Market Revenue and Forecast, by Technology (2019-2030)

11.1.3. Market Revenue and Forecast, by Component (2019-2030)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.1.4.2. Market Revenue and Forecast, by Technology (2019-2030)

11.1.4.3. Market Revenue and Forecast, by Component (2019-2030)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.1.5.2. Market Revenue and Forecast, by Technology (2019-2030)

11.1.5.3. Market Revenue and Forecast, by Component (2019-2030)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.2.2. Market Revenue and Forecast, by Technology (2019-2030)

11.2.3. Market Revenue and Forecast, by Component (2019-2030)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.2.4.2. Market Revenue and Forecast, by Technology (2019-2030)

11.2.4.3. Market Revenue and Forecast, by Component (2019-2030)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.2.5.2. Market Revenue and Forecast, by Technology (2019-2030)

11.2.5.3. Market Revenue and Forecast, by Component (2019-2030)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.2.6.2. Market Revenue and Forecast, by Technology (2019-2030)

11.2.6.3. Market Revenue and Forecast, by Component (2019-2030)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.2.7.2. Market Revenue and Forecast, by Technology (2019-2030)

11.2.7.3. Market Revenue and Forecast, by Component (2019-2030)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.3.2. Market Revenue and Forecast, by Technology (2019-2030)

11.3.3. Market Revenue and Forecast, by Component (2019-2030)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.3.4.2. Market Revenue and Forecast, by Technology (2019-2030)

11.3.4.3. Market Revenue and Forecast, by Component (2019-2030)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.3.5.2. Market Revenue and Forecast, by Technology (2019-2030)

11.3.5.3. Market Revenue and Forecast, by Component (2019-2030)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.3.6.2. Market Revenue and Forecast, by Technology (2019-2030)

11.3.6.3. Market Revenue and Forecast, by Component (2019-2030)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.3.7.2. Market Revenue and Forecast, by Technology (2019-2030)

11.3.7.3. Market Revenue and Forecast, by Component (2019-2030)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.4.2. Market Revenue and Forecast, by Technology (2019-2030)

11.4.3. Market Revenue and Forecast, by Component (2019-2030)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.4.4.2. Market Revenue and Forecast, by Technology (2019-2030)

11.4.4.3. Market Revenue and Forecast, by Component (2019-2030)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.4.5.2. Market Revenue and Forecast, by Technology (2019-2030)

11.4.5.3. Market Revenue and Forecast, by Component (2019-2030)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.4.6.2. Market Revenue and Forecast, by Technology (2019-2030)

11.4.6.3. Market Revenue and Forecast, by Component (2019-2030)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.4.7.2. Market Revenue and Forecast, by Technology (2019-2030)

11.4.7.3. Market Revenue and Forecast, by Component (2019-2030)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.5.2. Market Revenue and Forecast, by Technology (2019-2030)

11.5.3. Market Revenue and Forecast, by Component (2019-2030)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.5.4.2. Market Revenue and Forecast, by Technology (2019-2030)

11.5.4.3. Market Revenue and Forecast, by Component (2019-2030)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

11.5.5.2. Market Revenue and Forecast, by Technology (2019-2030)

11.5.5.3. Market Revenue and Forecast, by Component (2019-2030)

Chapter 12. Company Profiles

12.1. CalAmp

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Cartrack Holdings Limited

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Continental Ag

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Geotab Inc.

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Trackimo

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Teltonika

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. TeletracNavman US

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Tomtom, Inc.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. Verizon Communication Inc.

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Xirgo Technologies, LLC.

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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