Vehicle tracking systems are expected to have a market worth US$ 22 billion in 2022 and US$ 78.04 billion in 2032, growing at a CAGR of 13.5% over that time. Due to factors such as rising customer concern about the safety and security of automobiles and the expanding use of cutting-edge technology, the market for automotive monitoring systems is anticipated to rise.
Regulations controlling their installation in both passenger and commercial vehicles, as well as the increase of fleet operations in developing nations, are driving up the sales of automobile monitoring systems. Because the data comprises private information about drivers, vehicles, and travel patterns, the surge in data privacy infractions is the primary factor impeding the market expansion for car tracking systems.
Additionally, the popularity of car leasing and rental companies is driving up the price of vehicle monitoring programmes and encouraging rental companies to adopt monitoring technology as a decision-making tool. The fast growth of the automotive industry has increased the need for efficient real-time monitoring solutions for precise information collection.
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One of many significant elements enhancing the market outlook for car monitoring systems is the increased worry customers have for their safety and security. Additionally, it is anticipated that the introduction of 5G for auto connections and the rising popularity of intelligent transportation systems would boost sales of auto-monitoring software.
Along with the need for autonomous and semi-autonomous vehicles, the need for automotive monitoring programmes is increasing. Along with the growth in international trade, there has been an expansion in the need for a fleet of logistical economic vans. The top companies in the car monitoring system market are attempting to create fleet management tools for enterprises.
The most important car monitoring system market gamers intend to offer monitoring options, fleet administration options, and telematics options primarily based on the varied end-use functions.
So as to present high-quality merchandise, they’ve additionally developed a various portfolios that are continually improved by way of RD. These main gamers assist to broaden the market by way of product launches and partnerships.
The next corporations are among the many main gamers within the international car monitoring system market: Verizon, Geotab Inc., Cartrack, Tom Tom Worldwide B.V., CalAmp, Teltonika.
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We Key Segments
By Vehicle Type:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Transportation Logistic
- Construction Manufacturing
- Government Defense
By Technology Type:
- GPRS/Cellular Network
- Dual Mode
- OBD Device/ Tracker and Advance Tracker
- Standalone Tracker
- Performance Management
- Vehicle Diagnostics
- Fleet Analytics Reporting
- Driver Behavior Monitoring
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Table of Content
- Executive Summary | Vehicle Tracking System Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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