PUBLISHER: The Business Research Company | PRODUCT CODE: 1657060
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657060
A vehicle tracking system is a technology that allows for the monitoring and management of vehicles through an online computer, smartphone, tablet, or other devices, utilizing GPS satellites for accurate location information.
The main types of vehicle tracking systems are active and passive. Active tracking systems collect information similar to passive systems but differ in that they send this information in real-time to a computer or data center for processing, utilizing cellular or satellite networks. Various types of vehicles, including commercial and passenger vehicles, can be tracked using these systems, which find applications in mobile tracking, cellular tracking, and satellite tracking. Vehicle tracking systems are implemented across different sectors, including transportation and logistics, construction and manufacturing, aviation, retail, government, and others.
The vehicle tracking system market research report is one of a series of new reports from The Business Research Company that provides vehicle tracking system market statistics, including global market size, regional shares, competitors with a vehicle tracking system market share, detailed vehicle tracking system market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle tracking system industry. This vehicle tracking system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The vehicle tracking systems market size has grown rapidly in recent years. It will grow from $22.68 billion in 2024 to $26.33 billion in 2025 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to increasing demand for fleet management, growing need for fuel efficiency, increasing adoption of gps technology, rising concerns over vehicleTheft, growing demand for real-time monitoring.
The vehicle tracking systems market size is expected to see rapid growth in the next few years. It will grow to $51.32 billion in 2029 at a compound annual growth rate (CAGR) of 18.2%. The growth in the forecast period can be attributed to increasing adoption of electric vehicles, growing demand for advanced telematics solutions, increasing demand for safety and security in transportation services, growing adoption of IoT and cloud-based solutions, increasing demand for real-time surveillance. Major trends in the forecast period include development of mobile-based vehicle tracking applications, use of geofencing for enhanced location-based control, integration of augmented reality (AR) in vehicle tracking systems, focus on eco-friendly and sustainable tracking solutions, implementation of blockchain for secure and transparent tracking systems.
The vehicle tracking systems market is expected to experience growth driven by the increasing demand for car rental and leasing services. With consumers favoring automobile rentals over public transportation due to the desire for individual mobility and the adherence to social distancing norms amid the global pandemic, there is a growing inclination towards investing in vehicle tracking systems among car owners. According to Enterprise Apps Today in February 2023, the global rented car count was 29.2 million in 2021, and projections suggest an increase to 602.2 million by 2026. This surge in car rental and leasing services is anticipated to propel the growth of the vehicle tracking system market.
The rising number of road accidents is also poised to contribute to the growth of the vehicle tracking system market. Road accidents, involving vehicles, pedestrians, cyclists, or other road users, can be mitigated through vehicle tracking systems that offer real-time monitoring of a vehicle's location, speed, and driving behavior. Equipped with features such as emergency buttons and automatic crash detection, these systems play a crucial role in enhancing road safety. According to the World Health Organization in June 2022, approximately 1.3 million people die annually from road accidents. The increasing frequency of road accidents is, therefore, a significant driver for the growth of the vehicle tracking system market.
Major companies in the vehicle tracking systems market are concentrating on developing innovative solutions, such as anti-theft GPS tracking technology, to enhance security and provide real-time tracking for motorcycles and other outdoor assets, while also improving durability and user convenience. Anti-theft GPS tracking technology involves devices that use the Global Positioning System (GPS) to monitor the real-time location of assets, facilitating the quick recovery of stolen items and sending alerts for unauthorized movements. For example, in June 2024, Monimoto, a Lithuania-based company that offers smart security products for vehicles, launched Monimoto 9. This device provides advanced anti-theft protection with real-time GPS tracking, instant theft alerts, and a rechargeable battery lasting up to 12 months, making it suitable for motorcycles, ATVs, and other outdoor assets. Its water- and dust-resistant design, along with a compact and durable construction, ensures reliable performance in challenging conditions, giving owners peace of mind.
Major companies in the vehicle tracking system market are emphasizing technological innovation, particularly in products like car GPS trackers, to deliver reliable services to customers. Car GPS trackers are devices installed in vehicles to monitor their location and provide data such as driving patterns, speed, and overall health. Qubo, a subsidiary of Hero Electronix Private Limited, launched car GPS trackers in September 2023. These trackers offer intelligent features like live location tracking, accident alerts, and geofence alerts, providing enhanced safety features. Easy to install, the car GPS trackers are equipped with anti-theft and towing alerts to ensure the security of vehicles.
In December 2023, Semtech Corporation, a US-based provider of semiconductors, IoT systems, and cloud connectivity services, acquired Sierra Wireless for around $1.2 billion. This acquisition allows Semtech to enhance its wireless communication technologies for IoT devices by integrating Sierra Wireless's technology, thereby providing comprehensive end-to-end connectivity solutions from devices to cloud infrastructure. Sierra Wireless, based in Canada, specializes in IoT and cellular wireless solutions, including fleet tracking solutions.
Major companies operating in the vehicle tracking systems market include Verizon Communications Inc., Spireon Inc., Geotab Inc., TomTom International B. V., Teletrac Navman, Cartrack Pty. Ltd., Calamp Corp., Teltonika Networks, ORBCOMM Inc., Xirgo Technologies, Laipac Technology Inc., Trackimo Inc., AirIQ Inc., Verizon Connect, MiX Telematics, Trimble Inc., Actsoft Inc., Ctrack, Masternaut Limited, Sierra Wireless Inc., AT&T Inc., FleetUp, Omnitracs LLC, Zonar Systems Inc., Fleetistics Inc., Azuga Inc., Onfleet Inc., Samsara Networks Inc., KeepTruckin Inc., Global Tracking Communications Inc., Fleetio Inc., NexTraq LLC, FleetLocate by Spireon Inc., FleetMind Solutions Inc.
North America was the largest region in the vehicle tracking system market in 2024. The regions covered in the vehicle tracking systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the vehicle tracking systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The vehicle tracking systems market includes revenues earned by entities by offering such as fleet management, vehicle maintenance, managing driving behavior, and fuel consumption. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Vehicle Tracking Systems Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vehicle tracking systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vehicle tracking systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vehicle tracking systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.