Global Vehicle Tracking Market was valued at US$ 19.8 Bn. in 2021. The Global Vehicle Tracking Market size is estimated to grow at a CAGR of 13 % over the forecast period.
Vehicle Tracking Market Overview:
The market report for Vehicle Tracking includes information on market share and company profiles for the leading international competitors along with a thorough analysis of the competition. The scope of the study includes a complete examination of the Vehicle Tracking Market as well as the factors influencing regional variations in the growth of the industry.
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Market Scope:
After market engineering, which included market statistics calculations, market size estimations, market predictions, market breakdown, and data triangulation, was complete, extensive primary research was carried out to gather data and confirm important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the general market segments and sub-segments detailed in this study. In order to provide vital information during the study, all data collected during the market engineering process is submitted to comprehensive qualitative and quantitative analysis.
Vehicle Tracking Market Segment:
Commercial and passenger vehicles are the two subsectors of the vehicle tracking market, respectively. In 2021, the segment for passenger vehicles had the biggest market share. The majority of medium-sized and small-sized firms use the passenger vehicles segment. Vehicle tracking systems in passenger cars become more prevalent as a result. Also, the increasing attitude of fleet operators has enhanced end users' experiences, anticipating the expansion of the Passenger cars category, which now holds the highest market share.
The vehicle monitoring market is divided into three categories based on applications: mobile tracking, cellular tracking, and satellite tracking. The market for vehicle tracking is dominated by satellite tracking among these. The increased use of GPS, LTE, and WiMAX in conjunction with satellites to track routes and improve efficiency has had a favourable impact on the expanding global market for vehicle tracking. As a result, the market's largest market share belongs to satellite tracking.
1. Global Vehicle Tracking Market Size: Research Methodology
2. Global Vehicle Tracking Market Size: Executive Summary
2.1. Market Overview and Definitions
2.1.1. Introduction to Global Vehicle Tracking Market Size
2.2. Summary
2.2.1. Key Findings
2.2.2. Recommendations for Investors
2.2.3. Recommendations for Market Leaders
2.2.4. Recommendations for New Market Entry
3. Global Vehicle Tracking Market Size: Competitive Analysis
3.1. MMR Competition Matrix
3.1.1. Market Structure by region
3.1.2. Competitive Benchmarking of Key Players
3.2. Consolidation in the Market
3.2.1 M&A by region
3.3. Key Developments by Companies
3.4. Market Drivers
3.5. Market Restraints
3.6. Market Opportunities
3.7. Market Challenges
3.8. Market Dynamics
3.9. PORTERS Five Forces Analysis
3.10. PESTLE
3.11. Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
3.12. COVID-19 Impact
Vehicle Tracking Market Key players:
• Verizon
• Geotab Inc.
• Cartrack
• TomTom International B.V.
• CalAmp
• Teltonika
• ORBCOMM Inc.
• Xirgo Technologies, LLC
• Laipac Technology Inc.
• Trackimo Inc.
• Spireon Inc.
• Inseego Corp.
• Fortive Corporation (Teletrac Navman US Ltd)
• AT&T Inc.
• Continental AG
• Robert Bosch GmbH
• Verizon Communications Inc.
• Geotab Inc.
To identify the market's leaders and project market revenue, primary and secondary research are both used. CEOs, marketing executives, and seasoned front-line employees were just a few of the notable thought leaders and subject matter experts that participated in the in-depth interviews for the main study. As a part of the primary study, extensive interviews with important thought leaders and business experts—including CEOs, marketing executives, and seasoned front-line staff—were conducted.
The secondary study included a review of the annual and financial reports of the major manufacturers. Secondary data is employed to calculate percentage splits, market shares, growth rates, and global market breakdowns. The results of these calculations are then put up against the original data in comparison. The Vehicle Tracking market is dominated by the following businesses:
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Regional Analysis:
The regional market research report for Vehicle Tracking also includes information on the specific market driving forces and changes in market legislation that have an impact on current and future market trends. Current and forthcoming trends are studied in order to evaluate the potential market as a whole and find profitable patterns to lay a stronger foundation. The evaluation of the regional market is built on the basis of the current environment and expected trends.
COVID-19 Impact Analysis on Vehicle Tracking Market:
A stop in activities between January 2020 and May 2020 resulted in a fall in the growth of end-user industries utilising Vehicle Tracking. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. The market for Vehicle Tracking manufacturers as well as the profits of companies operating in these sectors consequently experienced a sharp decline. This affected the market's growth in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business demand for Vehicle Tracking has been severely decreased.
Key Questions Answered in the Vehicle Tracking Market Report are:
- Which market segment has the highest percentage of Vehicle Tracking in 2021?
- To what extent is there competition in the market?
- What are the primary factors influencing the growth of the Vehicle Tracking market?
- What portion of the market does region Vehicle Tracking control?
- What is the expected market CAGR from 2022 to 2029?
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