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Vehicle Tracking System Market Research Report COVID-19 Impact and Future Scope Analysis Forecast till 2025

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Shweta Raj
Vehicle Tracking System Market Research Report COVID-19 Impact and Future Scope Analysis Forecast till 2025

The Global Vehicle Tracking System Market is expected to Witness 21% CAGR during the Period, 2019–2025. Global Vehicle Tracking System Market Research Report: Information by Type (Active and Passive System), by Technology [Global Navigation Satellite System (GLONASS), Global Positioning System (GPS), Connectivity Technology and others], by Propulsion (ICE and Electric Vehicle), by Vehicle Type (Passenger Car and Commercial Vehicle), by Application (Residential and Commercial) and by Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025

Vehicle Tracking System Market Overview

A vehicle tracking system is a real time data tracking system that works using GPS and GSM technologies. It provides the exact movement of a vehicle from any location, at any time. Furthermore, cellular or radio transmitters are also used to track the vehicles. Vehicle tracking systems are also popular in consumer vehicles for theft prevention, monitoring, and retrieval device.

The increasing production and sales of electric vehicles in countries such as China, Germany, Norway, and Japan drive the growth of global vehicle tracking system market. Furthermore, technological advancements, growing awareness of the key manufacturers regarding the use of vehicle tracking systems and increasing need for monitoring the automobile movements from both transportation and logistics industries are set to drive the growth of this market during the study period.  

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Key Players

The key players operating in the global vehicle tracking system market are Verizon Communications Inc. (US), Spireon, Inc. (US), Geotab Inc. (Canada), Inseego Corp. (US), US Fleet Tracking (US), TRACK GROUP (US) AT&T Inc. (US), Cartrack Holdings Limited (South Africa), Continental AG (Germany), Robert Bosch GmbH (Germany).

Market Research Analysis

In terms of region, the global market for the vehicle tracking systems is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the highest market share during the forecast period owing to the growing production of electric vehicles in China and Japan. Moreover, increased production and sales of automobiles is expected to boost the demand for vehicle tracking systems in this region. The growing adoption of vehicle tracking systems by fleet operators for fleet management functions such as fleet tracking, routing, dispatching, on-board information, and security across the country, drives the market growth, further.

North America is estimated to grow at a significant rate in vehicle tracking system market during forecast period owing to the growing demand for envirnmentally-friendly vehicles and the presence of key players such as Verizon Communications Inc., Spireon, Inc, Geotab Inc., Inseego Corp., and THE US Fleet Tracking in the US and Canada are contributing in the growth of this market. The companies in North America are adopting new technologies to enhance the products related with the vehicle security, which would drive the development of more efficient vehicle security systems and solutions.

In Europe, the vehicle tracking market is estimated to witness a high growth rante. Europe is one of the market leaders in the vehicle security systems market. The OEMs in the region are focusing on incorporating advanced safety features in these vehicles, which will be a key driver for the market in the region. Germany and France hold the highest shares of the vehicle security market in this region.

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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