Product Code: GVR-4-68038-822-0
Vehicle Tracking System Market Growth & Trends:
The global vehicle tracking system market size is anticipated to be worth USD 60.89 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to grow at a CAGR of 14.1% from 2023 to 2030. Factors such as technological iterations and growing digitization within the automotive industry, paired with the continuous growth of the logistics and automobile industry worldwide, are encouraging the growth of the market. The surge in the sales of heavy and light commercial vehicles is also expected to drive the growth of the market.
The surge in adoption of mobility-as-a-service (MaaS) by numerous companies such as Ola, Rapido, and Bounce aimed at reducing carbon emission and traffic congestion on urban streets is also driving the market growth. These companies have introduced the concept of carpooling, sharing, and taxi-hailing for daily commuters as an option for public transport such as bus and metro and private vehicles. The tracking systems installed in these vehicles are beneficial for both the companies and commuters. The software and hardware facilitate features such as tracking vehicle status, driver behavior tracking in real time, and price comparing for different vehicles, such as sedans or prime sedans.
The improved connectivity network technology and services have led to the adoption of connected car tracking systems. The sensor and cameras embedded in the vehicle are enabled to transfer real-time data and collect intel on the vehicle's speed and distance traveled, current location, air pressure, and fuel consumption. The extensive implementation of cloud computing technology facilitates analysis, computation, storage, and access to data without compromising the vehicle owner's personal information. Thus, the application of cloud technology in vehicle tracking systems is expected to create new avenues of market growth opportunities.
North America has registered a significant market share and is expected to showcase stable growth over the forecast period. However, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period. Factors such as high automobile sales in Asia Pacific's heavily populated countries such as India and China and the growing influence of e-commerce are driving market growth in the region.
Vehicle Tracking System Market Report Highlights:
- The market is expected to witness growth owing to increased logistics operation by road for the domestic and international market
- The growing need for fleet management in industries such as construction, manufacturing, and retail is driving the demand for hardware and software components of vehicle tracking systems
- The passenger vehicles segment accounted for the largest revenue share of over 43.1%. The segment also is expected to register the fastest CAGR of 17.1% over the forecast period
- The transportation & logistics segment dominated the market with the highest revenue share of 27.3% in 2022 and is anticipated to register the fastest CAGR of 18.0% over the forecast period
- North America dominated the market with the largest revenue share of 32.7% in 2022. The Asia Pacific is expected to grow at the fastest CAGR of 17.7% during the forecast period
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Component
- 1.1.2. Vehicle type
- 1.1.3. Technology
- 1.1.4. Type
- 1.1.5. End-use
- 1.1.6. Regional scope
- 1.1.7. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary route of administrations
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Vehicle type outlook
- 2.2.2. End-use outlook
- 2.2.3. Technology outlook
- 2.2.4. Type outlook
- 2.2.5. Component outlook
- 2.2.6. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Vehicle Tracking System Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.4. Vehicle Tracking System Market Analysis Tools
- 3.4.1. Industry Analysis - Porter's
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic Landscape
Chapter 4. Vehicle Tracking System Market: Component Estimates & Trend Analysis
- 4.1. Vehicle Tracking System Market: Key Takeaways
- 4.2. Vehicle Tracking System Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Hardware
- 4.3.1. Hardware market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.3.2. OBD device/ tracker and advance tracker
- 4.3.2.1. OBD device/ tracker and advance tracker market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.3.3. Standalone tracker
- 4.3.3.1. Standalone tracker market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4. Software
- 4.4.1. Software market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.2. Performance measurement
- 4.4.2.1. Performance measurement market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.3. Vehicle diagnostics
- 4.4.3.1. Vehicle diagnostics market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.4. Fleet analytics and reporting
- 4.4.4.1. Fleet analytics and reporting market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.5. Driver behavior monitoring
- 4.4.5.1. Driver behavior monitoring market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.6. Others
- 4.4.6.1. Others market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 5. Vehicle Tracking System Market: Vehicle Type Estimates & Trend Analysis
- 5.1. Vehicle Tracking System Market: Key Takeaways
- 5.2. Vehicle Tracking System Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. Passenger vehicle
- 5.3.1. Passenger vehicle market estimates and forecasts, 2018 to 2030 (USD Million)
- 5.4. Light commercial vehicle
- 5.4.1. Light commercial vehicle market estimates and forecasts, 2018 to 2030 (USD Million)
- 5.5. Heavy commercial vehicle
- 5.5.1. Heavy commercial vehicle market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 6. Vehicle Tracking System Market: Technology Estimates & Trend Analysis
- 6.1. Vehicle Tracking System Market: Key Takeaways
- 6.2. Vehicle Tracking System Market: Movement & Market Share Analysis, 2022 & 2030
- 6.3. GPS/Satellite
- 6.3.1. GPS/satellite market estimates and forecasts, 2018 to 2030 (USD Million)
- 6.4. GPRS/Cellular Network
- 6.4.1. GPRS/cellular network market estimates and forecasts, 2018 to 2030 (USD Million)
- 6.5. Dual Mode
- 6.5.1. Dual mode market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 7. Vehicle Tracking System Market: Type Estimates & Trend Analysis
- 7.1. Vehicle Tracking System Market: Key Takeaways
- 7.2. Vehicle Tracking System Market: Movement & Market Share Analysis, 2022 & 2030
- 7.3. Active
- 7.3.1. Active market estimates and forecasts, 2018 to 2030 (USD Million)
- 7.4. Passive
- 7.4.1. Passive market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 8. Vehicle Tracking System Market: End Use Estimates & Trend Analysis
- 8.1. Vehicle Tracking System Market: Key Takeaways
- 8.2. Vehicle Tracking System Market: Movement & Market Share Analysis, 2022 & 2030
- 8.3. Transportation and logistics
- 8.3.1. Transportation and logistics market estimates and forecasts, 2018 to 2030 (USD Million)
- 8.4. Construction and manufacturing
- 8.4.1. Construction and manufacturing market estimates and forecasts, 2018 to 2030 (USD Million)
- 8.5. Aviation
- 8.5.1. Aviation market estimates and forecasts, 2018 to 2030 (USD Million)
- 8.6. Retail
- 8.6.1. Retail market estimates and forecasts, 2018 to 2030 (USD Million)
- 8.7. Government and defense
- 8.7.1. Government and defense market estimates and forecasts, 2018 to 2030 (USD Million)
- 8.8. Others
- 8.8.1. Others market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 9. Vehicle Tracking System Market: Regional Estimates & Trend Analysis
- 9.1. Regional Outlook
- 9.2. Vehicle Tracking System Market by Region: Key Takeaway
- 9.3. North America
- 9.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.3.2. U.S.
- 9.3.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.3.3. Canada
- 9.3.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.4. Europe
- 9.4.1. UK
- 9.4.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.4.2. Germany
- 9.4.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.4.3. France
- 9.4.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.5. Asia Pacific
- 9.5.1. Japan
- 9.5.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.5.2. China
- 9.5.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.5.3. India
- 9.5.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.5.4. Australia
- 9.5.4.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.5.5. South Korea
- 9.5.5.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.6. Latin America
- 9.6.1. Brazil
- 9.6.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.6.2. Mexico
- 9.6.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.7. MEA
- 9.7.1. South Africa
- 9.7.1.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.7.2. Saudi Arabia
- 9.7.2.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
- 9.7.3. UAE
- 9.7.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
Chapter 10. Competitive Landscape
- 10.1. Recent Developments & Impact Analysis, By Key Market Participants
- 10.2. Market Participant Categorization
- 10.2.1. Cartrack
- 10.2.1.1. Company overview
- 10.2.1.2. Financial performance
- 10.2.1.3. Product benchmarking
- 10.2.1.4. Strategic initiatives
- 10.2.2. Verizon, Geotab Inc.
- 10.2.2.1. Company overview
- 10.2.2.2. Financial performance
- 10.2.2.3. Product benchmarking
- 10.2.2.4. Strategic initiatives
- 10.2.3. TomTom International BV.
- 10.2.3.1. Company overview
- 10.2.3.2. Financial performance
- 10.2.3.3. Product benchmarking
- 10.2.3.4. Strategic initiatives
- 10.2.4. TOKAIRIKA,CO, LTD.
- 10.2.4.1. Company overview
- 10.2.4.2. Financial performance
- 10.2.4.3. Product benchmarking
- 10.2.4.4. Strategic initiatives
- 10.2.5. CalAmp
- 10.2.5.1. Company overview
- 10.2.5.2. Financial performance
- 10.2.5.3. Product benchmarking
- 10.2.5.4. Strategic initiatives
- 10.2.6. TELTONIKA
- 10.2.6.1. Company overview
- 10.2.6.2. Financial performance
- 10.2.6.3. Product benchmarking
- 10.2.6.4. Strategic initiatives
- 10.2.7. ORBCOMM
- 10.2.7.1. Company overview
- 10.2.7.2. Financial performance
- 10.2.7.3. Product benchmarking
- 10.2.7.4. Strategic initiatives
- 10.2.8. Sensata Technologies Inc.
- 10.2.8.1. Company overview
- 10.2.8.2. Financial performance
- 10.2.8.3. Product benchmarking
- 10.2.8.4. Strategic initiatives
- 10.2.9. Laipac Technology Inc.
- 10.2.9.1. Company overview
- 10.2.9.2. Financial performance
- 10.2.9.3. Product benchmarking
- 10.2.9.4. Strategic initiatives
- 10.2.10. Trackimo
- 10.2.10.1. Company overview
- 10.2.10.2. Financial performance
- 10.2.10.3. Product benchmarking
- 10.2.10.4. Strategic initiatives