Vehicle tracking system market is anticipated to grow at a CAGR of 9.2% during the forecast period (2024-2031). The growing adoption of advance vehicle tracking technology with improving security is the key factor supporting the growth of the market globally. As the number of luxury vehicles stolen has increased significantly in recent years as car thieves deploy ever-more sophisticated technology. The market players are also focusing on introducing advance vehicle tracking system solutions that further bolster the market growth. For instance, in July 2023, Chubb Partnered with Global Telemetric and launched a vehicle tracker in the UK to help protect the insurer’s customers from car theft. A stolen vehicle recovery and billing platform, available to customers Chubb’s UK Personal Risk Services (PRS).
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Among the components, the software sub-segment is expected to hold a considerable share of the global vehicle tracking system market. The segmental growth is attributed to the growing influence of the real-time vehicle tracking, which is provided by software using an online global positioning system (GPS) and sensors that follow the locations of the units along any given route. Speed, fuel, and temperature statistics are also monitored. Market players focused on M2M plans with features including sensors that track unit positions on any given route and real-time vehicle tracking via an online GPS. For instance, in July 2020, Kuwait Telecommunications Company STC launched a new IoT strategy, M2M plans, and advanced fleet management solutions. The software features real-time vehicle tracking through an online GPS and sensors that track unit locations on any specified route, monitoring speed, fuel and temperature statistics.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Vehicle Tracking System Market by Component
- Hardware
- OBD Device/ Tracker and Advance Tracker
- Standalone Tracker
- Software
- Performance Management
- Vehicle Diagnostics
- Fleet Analytics & Reporting
- Driver Behavior Monitoring
Global Vehicle Tracking System Market by Vehicle Type
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Global Vehicle Tracking System Market by Technology
- Transportation
- GPS/Satellite
- GPRS/Cellular Network
- Dual Mode
Global Vehicle Tracking System Market by End-Users
- Transportation & Logistic
- Aviation
- Retail
- Government & Defense
- Other (Construction & Manufacturing)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Azuga™ Inc.
- CalAmp Corp.
- Fleet Complete
- Geotab Inc.
- GpsGate
- LiveViewGPS Inc.
- Quartix Inc.
- Queclink Wireless Solutions Co., Ltd.
- Rhino Fleet Tracking
- Spireon, LLC
- Telenav, Inc.
- Teletrac Navman US Ltd.
- TomTom International BV
- Trackimo
- Verizon Connect
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global vehicle tracking system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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