Vehicle Tracking System Market Overview and Scope 2020 to 2027 | AT&T Intellectual Property., Cartrack, Continental AG etc.

The global vehicle tracking system market is expected to grow at a CAGR of approximately 11.7% during the forecasted period 2020–2027.

Essentially, a fundamental and extensive application of the vehicle tracking system is the Location facility. Besides locating the vehicles, a vehicle tracking system has varied applications in fleet management, such as vehicle security, maintenance, visibility of fleet, fuel management, asset tracking, insurance cost reduction, transit tracking, weather updates, and traffic updates.

The worldwide vehicle tracking system market is driven by a large deployment of intelligent transportation systems.  Concerns of security and safety have swiftly boosted the sales of vehicle tracking systems in the transportation sector. Furthermore, a rise in fleet operations, particularly in emerging regions, is predicted to surge the revenue throughout the vehicle tracking systems market. The boom of ride-hailing businesses under amicable Government legislation and raising customer demand is expected to provide lucrative prospects for the worldwide vehicle tracking system market.

Loss of fleet assets is a major concern for fleet owners. Nevertheless, a vehicle tracking system offers uninterrupted position updates that enable a user to locate and reclaim his belongings. Further, it provides a single source of data, such as reports on engine, speed, fuel, and direction that enhance the efficiency and prevention maintenance of the management. The GPS monitoring device grants real-time data access to the vehicle and the driver.  Precaution is required to ensure the security and delivery of valuable items that are being transported. Keeping this in view, a vehicle tracking system becomes extremely beneficial.

Vehicle security is a major concern for automobile owners, thus, leading to a persistent search for new and improved vehicle security measures. The vehicle tracking system facilitates tracking and close monitoring of automobiles in real-time and reviews the travel history. Keeping a regular track of the vehicle's activity aids the car’s security concerns. The technology employs Global Positioning System [GPS] to determine the location of the automobile and send its coordinates to the monitoring center via a satellite. Individuals use vehicle tracking devices as a means of theft identification and prevention.

Expansion of the goods and passenger transportation business lead by the ride-hailing businesses, car rental firms, and adoption of app-based transportation services, is driving the demand for automobile monitoring systems worldwide. Trackers can provide statistics on the vehicle's real operating state, such as speed, door lock and unlock, and other engine metrics; as a result, fleet managers may track the vehicle to ensure correct delivery and secure passenger transportation. The need for vehicle monitoring systems for passenger cars is fueled by the advancements of the app-based transportation network, increased car rental and leasing operations, and vehicle owner’s concern for the security of their automobiles from thievery.

Grab a Free Sample PDF copy of the Vehicle Tracking System Market Report 2019 @ 
https://straitsresearch.com/report/vehicle-tracking-system-market/request-sample

Competitive Landscape:
The prominent players of the vehicle tracking system market include AT&T Intellectual Property., Cartrack, Continental AG, Robert Bosch GmbH, Verizon, Spireon, Inc., Geotab Inc., Inseego Corp., TomTom International BV., Teletrac Navman US Ltd, RUPTELA, Trackimo, nuevastech, Pricol Limited, U.S. Fleet Tracking, Mobiliz, Global Tracking Group, LLC., RAM Tracking, Concox, Meitrack Group., along with other regional players. Product launches are a top priority for market players as it tends to extend their product portfolio and meet the customer needs. Due to the large sum of players in the market, the vehicle tracking system is highly fragmented.

In February 2020, Michelin Group's Masternaut and Fraikin vehicle fleet service organization came together to offer connected fleet management services for one of the largest supermarkets in the U.K., having more than 3000 vehicles for online delivery.
In January 2020, GPS Insight acquired Chicago-based ServiceBridge, a leading field service management software company, to broaden the scope of the GPS Insight software portfolio and deliver comprehensive solutions to its expanding customer base.

By Type
Passenger Vehicles
Commercial Vehicles

By Technology
GPS
GPRS
Dual Mode

By Components
Software
Hardware

By End-Users
Transportation and Logistics
Construction and Manufacturing
Aviation
Retail
Government and Defense
Other

View this report with a detailed description and TOC @ https://straitsresearch.com/report/vehicle-tracking-system-market/toc

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Vehicle Tracking System in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Vehicle Tracking System market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Vehicle Tracking System and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Vehicle Tracking System. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

View Full Report @ https://straitsresearch.com/report/vehicle-tracking-system-market/

The report covers exhaustive analysis on:
Overview of the parent market
Global Vehicle Tracking System Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Vehicle Tracking System Market Forecast 2019 to 2026
Supply & Demand Value Chain
Global Vehicle Tracking System Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key questions answered in this report:
What will be the market size by the end of the forecast period?
What are the factors driving the growth of the market?
What are the trends and developments that are likely to drive the growth of the market?
Who are the key players operating in the market?
What are the challenges, threats, and opportunities faced by the leading players?
What are the strengths and weaknesses of the key players of the market?

Buy Full Report with Detail Analysis with COVID-19 Impact – https://straitsresearch.com/buy-now/vehicle-tracking-system-market/global/

Would you like to discuss Vehicle Tracking System Market challenges with the experts at Straits Research?

For more details, please contact us -
Straits Research
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY 10022
Tel: +1 646 480 7505, +44 208 068 9665
Website: https://straitsresearch.com/

About Us:
Regardless of whether you're looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with what customers purchase. We overcome the issues of our customers by recognizing and deciphering just the target group, while simultaneously generating leads with the highest precision. We seek to collaborate with our customers to deliver a broad spectrum of results through a blend of market and business research approaches. This approach of using various research and analysis strategies enable us to determine greater insights by eliminating the research costs.

This release was published on openPR.