PUBLISHER: Value Market Research | PRODUCT CODE: 1547822
PUBLISHER: Value Market Research | PRODUCT CODE: 1547822
The global demand for Vehicle Tracking Systems Market is presumed to reach the market size of nearly USD 78.83 Billion by 2032 from USD 24.43 Billion in 2023 with a CAGR of 13.9% under the study period 2024-2032.
A vehicle tracking system is an electronic device that is placed in a vehicle to allows track vehicle's location. It combines the use of Global Positioning System (GPS) and Global system for mobile communication (GSM with software that collects data for a vehicle. A tracking system in the vehicle continuously detects up the GPS coordinates that indicate the real-time location of the vehicle. With the system's help, vehicle information can be viewed on electronic maps through the internet or specialized software. Fleet operators commonly use it for fleet management functions such as fleet tracking, routing, dispatching, on-board information, and security.
Flourishing use of a vehicle tracking system for fleet management and growing concern about private and public vehicles' safety is fuelling the growth of the market. Vehicle tracking technology has been gaining popularity rapidly due to growing e-commerce & logistics, last-mile challenges, increasing online shoppers, and the rising importance of real-time data. Fleet operators are increasingly using vehicle tracking modules for efficiency and cost-saving purposes, developing their activity, and to streamline their daily operations. Vehicle tracking modules offer a massive opportunity for logistics and transportation companies to simplify their daily activities and improves overall fleet performance.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Vehicle Tracking Systems. The growth and trends of Vehicle Tracking Systems industry provide a holistic approach to this study.
This section of the Vehicle Tracking Systems market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Vehicle Tracking Systems market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Vehicle Tracking Systems market include Cartrack, Verizon, Geotab Inc., TomTom International BV., CalAmp, Teltonika, Orbcomm, Sensata Technologies Inc., Laipac Technology Inc., Trackimo. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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