The global vehicle tracking system market reached a value of US$ 20.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 45.1 Billion by 2027, exhibiting a CAGR of 13.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Vehicle tracking system refers to an advanced software that relies on global positioning systems (GPS) and cellular networks for acquiring location information and monitoring automobile performance. It includes vehicle maintenance, diagnostics, route optimization, surveillance and safety, and fuel management solutions. These systems assist in supervising various non-compliant employee behavior, reducing downtime, delivering data in real-time to fleet operators for resolving vehicle problems, and providing instant alerts at the time of emergency. On account of these properties, vehicle tracking systems are extensively employed in passenger cars and commercial vehicles. At present, it is commercially available in active and passive tracking solution types.

Vehicle Tracking System Market Trends:
With the significant expansion in the automotive sector, there has been increasing demand for effective real-time monitoring solutions for accurate data collection. This can be attributed to the rising safety and security concerns amongst consumers, which is one of the prime factors currently driving the vehicle tracking system market growth. Additionally, the rapid growth in ride-hailing companies and the growing presence of mobility-as-a-services (MaaS) and app-based transportation services has further intensified the adoption of vehicle tracking systems in passenger cars and commercial vehicles, which is positively impacting the market growth. In line with this, various ongoing technological innovations, such as the integration of GPS, the Internet of things (IoT) and telematics to achieve higher operational efficiency, is acting as another major growth-inducing factor. They assist fleet managers in planning and identifying effective routes, addressing vehicle maintenance issues remotely, and monitoring automobile health through wireless communication. Other factors, such as strategic collaborations amongst key players and extensive research and development (R&D) activities to introduce cellular vehicle tracking systems for autonomous and semi-autonomous vehicles, are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vehicle tracking system market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, type, vehicle type, application and industry vertical.

Breakup by Component:

Hardware
OBD Device/Tracker
Standalone Tracker
Software
Vehicle Diagnostics
Performance Measurement
Fleet Analytics and Reporting
Others

Breakup by Type:

Active
Passive

Breakup by Vehicle Type:

Commercial Vehicles
Passenger Vehicles

Breakup by Application:

Mobile Tracking
Cellular Tracking
Satellite Tracking

Breakup by Industry Vertical:

Transportation and Logistics
Construction and Manufacturing
Aviation
Retail
Government
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AT&T Inc., Cartrack, Continental AG, Geotab Inc., Inseego Corp., Orbcomm, Robert Bosch GmbH, Spireon Inc., Teletrac Navman (Vontier Corporation), TomTom N.V. and Verizon Communications Inc.

Key questions answered in this report:
How has the global vehicle tracking system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global vehicle tracking system market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the type?
What is the breakup of the market based on the vehicle type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global vehicle tracking system market and who are the key players?
What is the degree of competition in the industry?