What's Driving the Vehicle Tracking Device Market Growth? CalAmp, Cartrack, Garmin, Geotab, ORBCOMM, Sierra Wireless, Suntech, Teltonika, TomTom, Verizon

Heavy commercial vehicles segment in vehicle tracking device market is projected to record growth rate of over 25% over 2019-2025. Vehicle tracking systems are expected to bring this number down by tracking behavior of passenger vehicle drivers. The systems also monitor sudden lane changes, acceleration, over speeding, cornering instances, harsh braking and driving under the influence of alcohols, which helps heavy commercial vehicles operating companies to reduce the number of road accidents with alerts of wrong driving practices.

The global vehicle tracking device market size has witnessed an unprecedented growth rate owing to enhanced fleet management techniques which are reducing operation cost of managing large fleet operations. These tracking systems enable monitoring of fuel consumption, engine parameters, and driver's behavior along with ensuring safety, thus making them an essential component in fleet management techniques.

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Wireless vehicle tracking devices are being increasingly used across various business verticals in the past few years owing to low power consumption and compact size. Wireless tracking devices facilitate extensive wired interface and wireless communications that easily adapt to the tracking requirements. They consist of built-in antennas and geo fencing techniques that reduce the overall size and eliminate external antennas and wires. Since wireless vehicle tracking devices are compact in size, they integrate easily into vehicles - a factor that is positively influencing vehicle tracking device market outlook.

Several governments of developing nations are undertaking initiatives which focus on installing vehicle tracking devices to ensure safety of drivers, passengers, goods, and the vehicle as well. For instance, the Road Transport and Highway Ministry of India mandated the installation of tamper-proof GPS satellite systems in all public service vehicles - along the likes of buses and taxis - to ensure safety of women.

The fleet management systems enable mining companies to track the location of vehicles to prevent thefts and while increasing efficiency. Government authorities are also imposing regulations for the safety of mining vehicles. The mining sector is estimated to contribute substantially to the growth in vehicle tracking industry, to register CAGR of over 20% over the forecast timespan, due to high demand for safer mining operations.

In terms of geographical expansion, the growing number of innovations in the automobile sector has invariably contributed to the remuneration scale of Europe vehicle tracking device market. With innovations like self-driving cars and the introduction of C-V2X (cellular vehicle - to - everything), there is a growing demand for vehicle tracking devices to facilitate safety of passengers. Several companies are introducing autonomous vehicles in Europe. For instance, the European Commission has urged the need for research and innovations of autonomous vehicles in this region.

Speaking along similar lines, the UK government has established the Centre for Connected and Autonomous Vehicles (CAV) to allow the testing of motorways in the country. A fully automatic vehicle thus needs a high precision positioning and sensor integration to ensure accuracy and reliability that the vehicle can be self-driven. Furthermore, a tracking device will ensure that the vehicle stays in line and at a safe distance from other vehicles.

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Owing to the increasing number of innovations in automobile sector and the growing need to enhance road safety along with reduction in operational costs, the global vehicle tracking device market is expanding at a decent pace. Several initiatives are being undertaken by industry players to enhance the vehicle tracking capabilities to facilitate precision and reliability. The major players driving the global vehicle tracking device market include Maestro Wireless Solutions Limited, Orbcomm Inc., Verizon Communications, Suntech International Ltd. among others.

Table of Contents (ToC) of the report:

Chapter 6. Vehicle Tracking Device Market, By Vehicle Type
6.1. Key trends, by vehicle type
6.2. Passenger Vehicle (PV)
6.2.1. Market estimates and forecast, 2014 - 2025
6.3. Light Commercial Vehicle (LCV)
6.3.1. Market estimates and forecast, 2014 - 2025
6.4. Heavy Commercial Vehicle (HCV)
6.4.1. Market estimates and forecast, 2014 - 2025
Chapter 7. Vehicle Tracking Device Market, By Communication Technology
7.1. Key trends, by communication technology
7.2. Cellular
7.2.1. Market estimates and forecast, 2014 - 2025
7.3. GPS/Satellite
7.3.1. Market estimates and forecast, 2014 - 2025
7.4. Dual mode
7.4.1. Market estimates and forecast, 2014 - 2025
Chapter 8. Vehicle Tracking Device Market, By Application
8.1. Key trends, by application
8.2. Transportation & logistics
8.2.1. Market estimates and forecast, 2014 - 2025
8.3. Construction
8.3.1. Market estimates and forecast, 2014 - 2025
8.4. Oil & gas
8.4.1. Market estimates and forecast, 2014 - 2025
8.5. Mining
8.5.1. Market estimates and forecast, 2014 - 2025
8.6. Emergency services
8.6.1. Market estimates and forecast, 2014 - 2025
8.7. Others
8.7.1. Market estimates and forecast, 2014 - 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/vehicle-tracking-market

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