Vehicle Tracking System Market Research Report 2021 | Upcoming Market Growth, Size, Competitors Strategy, Regional Analysis and Industry Growth by Forecast to 2027
Market Research Future (MRFR), in its latest “Vehicle Tracking System Market” report, reveals that due to the growing need for transportation safety that global market of vehicle tracking system is expected to register a high CAGR in the forecast period. Vehicle tracking system is a defense system for the vehicle. They are designed to protect cars against external and malicious threats. The vehicle tracking system can detect, prevent, and is responsive using technologies, such as GLONASS, GPS, ultrasonic, and radio frequency identification. Hence, major advantages of vehicular tracking system, such as enhanced vehicular communication medium, safety and security, and performance monitoring can propel the growth of the global market growth. The growing demand for electric vehicles due to the rising concern for the environment is are encouraging the adoption of vehicle tracking system. It is expected to fuel the market growth. In the years to come, the surge in the production of commercial and passenger vehicles due to their growing demand as urban population expands, can catalyse the growth of the global vehicle tracking system market. Alongside, the rise in demand for semi-autonomous and autonomous vehicles, the launch of 5G technology, need for better vehicle connectivity, and the availability of cloud computing-based vehicle tracking solutions are likely to contribute largely to the growth of the worldwide vehicle tracking systems market.
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MRFR profiled some of major players of the global vehicle tracking system market. They are; Cartrack Holdings Limited (South Africa), AT&T Inc. (US), Robert Bosch GmbH (Germany), Continental AG (Germany), US Fleet Tracking (US), Spireon, Inc. (US), Verizon Communications Inc. (US), Inseego Corp. (US), Geotab Inc. (Canada), and TRACK GROUP (US).
The global market of vehicle tracking system market is assessed y segmental analysis to obtain a comprehensive study. The worldwide market of vehicle tracking system segments are based on technology, type, vehicle type, propulsion, and application. By type, the market is sectioned into active and passive system. By technology, the market is segmented into global positioning system (GPS), connectivity technology, global navigation satellite system (GLONASS), and others. By propulsion type, the market is sectioned into electric vehicle and ICE. By vehicle type, the market is split into commercial vehicle and passenger car. The application-based segments of the market are commercial and residential.
The growth of the vehicle tracking system market in the Asia Pacific region can be attributed to hike in the rate of adoption of luxury and premium vehicles. Additional factors that are expected to propel the market in APAC are rise in demand for automobiles and the presence of proficient automobile manufactures in regions, such as Japan, India, and other APAC countries. Moreover, the availability of sophisticated solutions is likely to make the vehicle tracking system market grow across the forecast period.
In North America, the market is likely to register a high CAGR in the forecast period. The surge in demand for new passenger and commercial vehicles can spur the expansion of the vehicle tracking system market. The growing number of vehicle thefts is also expected to propel the APAC vehicle tracking system market growth in the years to come.
In regions, such as the Middle East & Africa, and South America the vehicle tracking system market growth is expected to spur due to the increase in the expenditure on vehicle making by international players. In South America, the vehicle tracking system market is likely to register a decent growth patter owing to the rapid integration of advanced technologies in the vehicle tracking system.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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