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Vehicle Tracking System Market Report 2021: Industry Analysis, Key Players, Regional Demand, Revenue, Opportunity and Forecast 2030

According to a new report released by Panorama Data Insights (ASTUTE ANALYTICA) on December 06, 2021, the increase in fleet operations is expected to drive revenue growth in the global market during the forecast period.The global market for vehicle tracking systems in 2020 was US $ 17.35 billion. The global market for vehicle tracking systems is projected to grow at a compound annual growth rate (CAGR) of 19.5% during the forecast period from 2021 to 2030, reaching US $ 109.92 billion in 2030.

The vehicle tracking system is a system that tracks and monitors the position of the vehicle using GPS (Global Positioning System) and mobile phone network. It locates and monitors vehicles in remote areas, performs vehicle diagnostics, fuel management, route optimization, driver management, traffic volume management and more. Vehicle tracking systems use GPS, GSM / GPRS, digital maps, and special software loops.

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Factors Affecting Market Growth

One of the main contributors to the growth of the global vehicle tracking system market. The first is the integration of real-time monitoring and fuel management into the vehicle, the safety and security issues facing transportation companies.
Increased fleet operations are expected to drive global market revenue growth during the forecast period, including
fleet owner price concerns, data privacy breaches, cybersecurity threats, and atmospheric reasoning issues in the global market. Growth may be slowed.
The introduction of intelligent transportation systems, the emergence of 5G in vehicle connectivity, and the increased use of MaaS (Mobility-as-a-Service) may provide favorable growth opportunities for this market. .

impact analysis of the 19-COVID

COVID-19 is, by the poor performance to be expected from the commuter regulations and market participants, it had a negative impact on the world of vehicle tracking systems market. The main risk factors for market participants in vehicle tracking systems are supply chain execution, regulatory and policy changes, labor reliance, working capital management, liquidity and solvency management. Some organizations are preparing cost-cutting strategies in response to a pandemic. Some companies with vehicle assets are considering selling or leasing back vehicles to improve cash flow.

Due to the shortage of carriers, products stored by FMCG, retail, agriculture and pharmaceutical companies cannot be shipped. There is an increasing need for vehicle tracking hardware and management software to manage and respond to the ongoing supply of essentials. This will have a positive impact on the global market during the forecast period.

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Regional Insight

North America is projected to have the overwhelming share of the global vehicle tracking system market. As a result of the increasing use of navigation satellite systems and GPS, regulatory agencies and transport authorities are introducing safety regulations throughout the region. As a result, the US and Canadian governments have introduced strict regulations and norms on safety programs to address these concerns. Such efforts will also strengthen the adoption of products that support passenger safety and security. In the

global vehicle tracking system market, the Asia Pacific region is projected to show a high CAGR. During the forecast period, demand for this product is expected to increase in the region due to government efforts to prevent pollution, improved network technology, and an increase in the number of vehicles traveling on the road.

Major competitors

Global vehicle tracking The major prominent companies in the system market are:

  • AT & T Co., Ltd.
  • Karamp
  • Cart rack
  • Continental AG
  • Geotab Co., Ltd.
  • Insigo Co., Ltd.
  • Lipack Technology
  • Orbcomm Co., Ltd.
  • Robert Bossi
  • Teletrack Nabman USA
  • Tetrenica Networks
  • Tom Tom International BV.
  • Truck potato Co., Ltd.
  • Verizon Communications Co., Ltd.
  • Silgo Technologies
  • Other prominent players

Scope of Report The

global vehicle tracking system market segment consists of vehicles, end users, components, technologies and regions.

Vehicle-based segmentation

  • Passenger car
  • Commercial vehicle
  • Light commercial vehicle
  • Heavy commercial vehicle

End-user-based segmentation

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  • Transportation / Logistics
  • Construction / manufacturing
  • Aviation
  • retail
  • Government / Defense
  • others

Classification by component

  • hardware
  • software

Segment by technology

  • GPS / satellite
  • GPRS / cellular network
  • Dual mode

By region

North America



Western Europe

United Kingdom
Other Western European countries

Eastern Europe

Other Eastern European countries

Asia Pacific

Australia New Zealand
Other Asia Pacific Region

Middle East / Africa (MEA)

Saudi Arabia
South Africa
Other Middle East / Africa Region

South America

Other South America Region

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