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Vehicle Tracking Systems Market Analysis, Trends, Growth, Research And Forecast 2032
Vehicle Tracking Systems Market
Vehicle Tracking Systems Market Size, Growth Rate, And Forecast
The global vehicle tracking systems market size grew from $17.27 billion in 2022 to $20.78 billion in 2023 at a compound annual growth rate (CAGR) of 20.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The vehicle tracking systems market size is expected to grow to $38.75 billion in 2027 at a CAGR of 16.9%.
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Vehicle Tracking Systems Market Drivers
The growing demand for car rental and leasing services is expected to drive the growth of the vehicle tracking systems market going forward. Consumers are preferring automobile rentals over public transportation as the desire for individual mobility and social distancing norms has increased due to the global pandemic. Car owners are increasingly spending on the vehicle tracking system for the updated status of the vehicle.
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Vehicle Tracking Systems Market Segments
• By Type: Active, Passive
• By Vehicle: Commercial Vehicles, Passenger Vehicles
• By Application: Mobile Tracking, Cellular Tracking, Satellite Tracking
• By Industry Vertical: Transportation And Logistics, Construction And Manufacturing, Aviation, Retail, Government, Other Industry Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the vehicle tracking systems market.
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Vehicle Tracking Systems Market Key Players
Major competitors in the vehicle tracking systems market include Verizon Connect, Spireon, Geotab, TomTom, Teletrac Navman, Cartrack, CalAmp, Teltonika, Orbcomm, Xirgo Global, Laipac.
The Business Research Company's "Global Vehicle Tracking Systems Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Vehicle Tracking Systems Market Include:
1. Executive Summary
2. Vehicle Tracking Systems Market Characteristics
3. Vehicle Tracking Systems Market Trends And Strategies
4. Vehicle Tracking Systems Market - Macro Economic Scenario
5. Vehicle Tracking Systems Market Size And Growth
……
26. Africa Vehicle Tracking Systems Market
27. Vehicle Tracking Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Vehicle Tracking Systems Market
29. Vehicle Tracking Systems Market Future Outlook and Potential Analysis
30. Appendix
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