Press release
Vehicle Tracking Market to cross $11bn by 2024 | By Top Players: TomTom, Calamp, CarTrack, Fleetmatics, Garmin International, Geotab, Mio, Nextraq, Robert Bosch, Teletrac Navman, Telogis, Teltonika, US Fleet Tracking, Verizon Networkfleet
Vehicle Tracking Market
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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.
Vehicle Tracking Market size is estimated to surpass USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc.
Fleet management will grow substantially from 2017 to 2024. This can be attributed to provision of the benefits such as customer satisfaction, fuel monitoring and speed detection, real-time monitoring, and maximizing vehicle utilization. Vehicle tracking market from cargo logistics will grow owing to advancements in mobile technology. These advanced devices allow continuous two-way communication with the fleet. Cost effectiveness as compared to the other counterparts will further escalate the revenue generation till 2024.
Heavy commercial vehicles are anticipated to witness growth at over 12% from 2017 to 2024 owing to rising demand for transportation of passengers & goods along with increasing construction activities. Vehicle tracking market from light commercial vehicles will account for a significant share over the forecast timeframe owing to rising transportation of light weight goods. Increasing domestic and international courier services will further propel the industry growth.
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North America vehicle tracking market is anticipated to capture the highest volume share over the next eight years. Presence of key automobile manufacturers along with technology providers across the region will primarily contribute to the revenue generation. Various regulatory authorities such as Federal Motor Carrier Safety Administration (FMCSA) are mandating the installation of these devices in vehicles, further supporting the regional dominance. Asia Pacific will also account for a significant share in the global market owing to the substantial automobile production coupled with stringent regulations, especially in developing countries.
Vehicle Tracking Market, By Technology
• Active vehicle tracking
• Passive vehicle tracking
Vehicle Tracking Market, By Application
• Private cars
• Cargo logistics
• Construction vehicles
• Two-wheeler tracking
• Fleet management
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The key players operating in the Vehicle Tracking Market are Calamp, CarTrack, Fleetistics, Fleetmatics, Garmin, Geotab, Laird Plc., Maestro Wireless Solutions Ltd., Meitrack Group, Mio, Navotar, Nextraq, Orbocomm, Robert Bosch, Teletrac Navman, Telogis, Teltonika UAB, TomTom, US Fleet Tracking, Verizon Networkfleet.
Market share calculation in this report is not done based on companies covered in it. The calculation of Vehicle Tracking Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Browse Related Report:
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The key players operating in the Automotive Pedestrian Protection System Market are Audi AG, Autoliv Inc., Continental AG, Daimler AG, Denso Corporation, General Motors, Magneti Marelli SpA., Mobileye N.V., Nissan Motor Corporation, Robert Bosch GmbH, Subaru Corporation, Toyota Motor Corporation, Valeo, Volvo Car Corporation and ZF Friedrichshafen AG
https://www.gminsights.com/industry-analysis/automotive-pedestrian-protection-system-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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