Vehicle Tracking System Market Report: Trends, Forecast and Competitive Analysis to 2030

Vehicle Tracking System Trends and Forecast

The future of the global vehicle tracking system market looks promising with opportunities in the transportation & logistic, construction & manufacturing, aviation, retail, and government & defense markets. The global vehicle tracking system market is expected to grow with a CAGR of 18.6% from 2024 to 2030. The major drivers for this market are the increasing adoption of advanced technology and increasing concern for the security and safety of vehicles.

A more than 150-page report is developed to help in your business decisions.

Vehicle Tracking System by Segment

The study includes a forecast for the global vehicle tracking system by component type, vehicle type, technology , end use, and region.

Vehicle Tracking System Market by Component Type [Shipment Analysis by Value from 2018 to 2030]:

• Hardware
• Software

Vehicle Tracking System Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Vehicle Tracking System Market by Technology [Shipment Analysis by Value from 2018 to 2030]:

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

Vehicle Tracking System Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Transportation & Logistic
• Construction & Manufacturing
• Aviation
• Retail
• Government & Defense
• Others

Vehicle Tracking System Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Vehicle Tracking System Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies vehicle tracking system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the vehicle tracking system companies profiled in this report include-

• Verizon
• Geotab
• Tomtom International
• Calamp
• Teltonika

Vehicle Tracking System Market Insights

Lucintel forecasts that software is expected to witness the highest growth over the forecast period due to factors like fleet analytics, real-time alerts for traffic and maintenance, vehicle diagnostics, driver behavior monitoring, and measuring vehicle utilization which indicates the vehicle efficiency and the total cost of vehicle ownership, are included in tracking software and are leading to growth.

Within this market, transportation & logistic will remain the largest segment due to expanding the scale of fleets and the operators.

North America will remain the largest region over the forecast period due to adoption of fleet management technologies, and awareness of vehicle fleet and cargo technology.

Features of the Global Vehicle Tracking System Market

Market Size Estimates: Vehicle tracking system market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Vehicle tracking system market size by various segments, such as by component type, vehicle type, technology , end use , and region in terms of value ($B).

Regional Analysis: Vehicle tracking system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different component type, vehicle type, technology , end use , and regions for the vehicle tracking system market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the vehicle tracking system market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for vehicle tracking system market?

Answer: The global vehicle tracking system market is expected to grow with a CAGR of 18.6% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the vehicle tracking system market?

Answer: The major drivers for this market are the increasing adoption of advanced technology and increasing concern for the security and safety of vehicles.

Q3. What are the major segments for vehicle tracking system market?

Answer: The future of the vehicle tracking system market looks promising with opportunities in the transportation & logistic, construction & manufacturing, aviation, retail, and government & defense markets.

Q4. Who are the key vehicle tracking system market companies?

Answer: Some of the key vehicle tracking system companies are as follows.

• Verizon
• Geotab
• Tomtom International
• Calamp
• Teltonika

Q5. Which vehicle tracking system market segment will be the largest in future?

Answer: Lucintel forecasts that software is expected to witness the highest growth over the forecast period due to factors like fleet analytics, real-time alerts for traffic and maintenance, vehicle diagnostics, driver behavior monitoring, and measuring vehicle utilization which indicates the vehicle efficiency and the total cost of vehicle ownership, are included in tracking software and are leading to growth.

Q6. In vehicle tracking system market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to adoption of fleet management technologies, and awareness of vehicle fleet and cargo technology.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the vehicle tracking system market by component type (hardware and software), vehicle type (passenger vehicles, light commercial vehicles, and heavy commercial vehicles), technology (gps/satellite, gprs/cellular network, and dual mode), end use (transportation & logistic, construction & manufacturing, aviation, retail, government & defense, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?