Vehicle Tracking Market to Witness Growth Acceleration During 2017-2024

Market Study Report adds a new report Vehicle Tracking Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a Steady CAGR to 2024. The report spread across 300 pages with table and figures in it.

Global vehicle tracking market is projected to cross USD 11 billion by 2024. Rising automobile security concerns, particularly in corporate sector is primarily driving the industry growth rate over the study period. Increasing need to monitor the automobile movement for passenger and goods security will further boost the product sales. Integration of telecommunication and information technology has developed next generation solutions in diverse sectors. This enables rapid deliveries with precision inducing immense potential to the industry over the forecast time span.

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Heavy commercial vehicles sector will witness more than 12% CAGR over the forecast timeline. This growth can be credited to increasing demand for transportation of goods and passengers coupled with rising construction activities across the globe. Light commercial vehicles segment will hold significant share over the study period owing to expanding transportation activities for light weight goods such as international and domestic courier services.

Increasing product installation by the transportation service providers for ensuring speed deliveries of goods has resulted in high demand for GPS fleet monitoring, promoting the industry growth rate. Multiple nations are mandating strict regulatory norms for implementation and usage of GPS fleet monitoring units owing to increasing automobile theft. For instance, Brazilian government will mandate deployment of antitheft unit in all the vehicles whether imported or produced in the nation. These devices enable monitoring of the automobile at any moment. Such mandating regulations will provide stable growth prospects to the vehicle tracking market over the projected time span.

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Active vehicle tracking units will hold highest volume share till 2024 due to provision of benefits such as accuracy in delivery time information, versatile networks, automatic reassignment, and real time monitoring. Passive technology will exhibit over 7.5% CAGR during the forecast period owing to easy and quick installation process.

Fleet management segment will grow substantially between 2017 and 2024. This growth can be attributed to benefits offered such as fuel monitoring, maximum automobile utilization, and speed detection. Cargo logistics will pose significant growth rate owing to improvements in mobile technology. These improved units enable continuous communication with the automobiles. Ease of availability and cost effectiveness will further influence the product penetration across the globe.

North America is estimated to hold maximum volume share over the next eight years owing to presence of technology providers together with major automobile manufacturers across the region. Multiple regulatory bodies such as Federal Motor Carrier Safety Administration (FMCSA) is mandating product deployment in all type of automobiles thereby enhancing the regional dominance. Asia Pacific will exhibit significant growth owing to increasing automobile production combined with upcoming strict rules particularly in developing nations.

Vehicle tracking market players are Garmin, Calamp, Navotar, Maestro Wireless Solutions Ltd., Orbocomm, and Fleetistics. The players are engaged in increasing their foothold across the globe through partnering with various online distributors such as GPS-Track, eBay, Amazon, India Mart, Flipkart, Snap Deal, and TrackMe.

Table of Contents:

Chapter 1. Methodology and Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and forecast parameters

1.2. Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2. Executive Summary

2.1. Vehicle tracking industry 360 degree synopsis, 2013 - 2024

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Vehicle trends

2.1.4. Technology trends

2.1.5. Application trends

2.1.6. Regional trends

Chapter 3. Vehicle tracking Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1. Supplier

3.3.2. Manufacturers

3.3.3. Distribution channel analysis

3.3.4. Vendor matrix

3.4. Technology landscape

3.5. Pricing analysis

3.5.1. Regional pricing

3.5.1.1. North America

3.5.1.2. EU

3.5.1.3. APAC

3.5.1.4. LATAM

3.5.1.5. MEA
3.5.2. Cost structure analysis
3.6. Regulatory landscape

3.6.1. U.S.

3.6.2. EU

3.6.3. China

3.7. Industry impact forces

3.7.1. Growth drivers, by region

3.7.1.1. NA

3.7.1.2. EU
3.7.1.3. APAC

3.7.1.4. LATAM

3.7.1.5. MEA

3.7.2. Industry pitfalls & challenges

3.8. Innovation and sustainability

3.8.1. Integration of the system with smart phones and tablets

3.8.2. Combining social media with GPS management system

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