Press release
Vehicle Tracking Systems Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Vehicle Tracking Systems Market Outlook
The anticipated expansion of the vehicle tracking systems market is linked to the amplified demand for car rental and leasing services. Amidst the global pandemic, customers are favoring car rentals over public transport due to growing needs for personal mobility and adherence to social distancing guidelines. Vehicle owners are progressively allocating resources towards vehicle tracking systems to keep up-to-date with their car's status. Enterprise Apps Today, a US-based software application information platform, reported in February 2023 that the number of rented cars worldwide in 2021 amounted to 29.2 million, with projections showing it may surge to 602.2 million by 2026. This potential increase in car rental and leasing services is set to boost the growth of the vehicle tracking system market.
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How will the growth rate of the vehicle tracking systems market shape industry trends by 2034?
In recent times, the market size for vehicle tracking systems has seen a rapid expansion. An increase from $22.68 billion in 2024 to $26.33 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.1%, is anticipated. This surge during the historical period is as a result of a rising demand for fleet management, increased necessity for fuel efficiency, higher adoption of GPS technology, escalating worries about vehicle theft, and a growing demand for real-time monitoring.
In the coming years, the market size for vehicle tracking systems is anticipated to experience a sharp expansion. By 2029, it is predicted to increment to $51.32 billion, boasting a compound annual growth rate (CAGR) of 18.2%. The surge within the forecast period can be credited to the rising uptake of electric vehicles and an escalating demand for premiere telematics solutions. Furthermore, there is a growing need for safety assurance and security in transportation services, wider adoption of IoT and cloud-based solutions, and an increase in demand for real-time monitoring. The future trends in this period include the creation of mobile-operated vehicle tracking applications, application of geofencing for superior location-based management, incorporation of augmented reality (AR) into vehicle tracking systems, a focus on developing eco-friendly and sustainable tracking solutions, and the use of blockchain for safe and transparent tracking systems.
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What trends are poised to drive the future success of the vehicle tracking systems market?
Leading corporations in the vehicle tracking systems market are concentrating on creating innovative solutions like anti-theft GPS tracking technology to deliver superior safety and instantaneous tracking for motorcycles and various outdoor assets, ensuring greater durability and convenience for users. Anti-theft GPS tracking technology encompasses devices employing the Global Positioning System (GPS) to oversee the live location of assets, facilitating speedy retrieval of stolen goods and issuing alerts for unauthorized movements. For example, in June 2024, Monimoto, a company from Lithuania that provides intelligent security products for vehicles, introduced Monimoto 9. It delivers improved anti-theft protection with real-time GPS tracking, instant theft alerts, and a 12-month rechargeable battery, making it perfectly suited for motorcycles, ATVs, and other outdoor assets. Its water- and dust-resistant design paired with a robust and compact construction guarantees dependable performance even under harsh conditions, offering owners a sense of security.
Which primary segments of the vehicle tracking systems market are driving growth and industry transformations?
The vehicle tracking systems market covered in this report is segmented -
1) By Type: Active, Passive
2) By Vehicle: Commercial Vehicles, Passenger Vehicles
3) By Application: Mobile Tracking, Cellular Tracking, Satellite Tracking
4) By Industry Vertical: Transportation And Logistics, Construction And Manufacturing, Aviation, Retail, Government, Other Industry Verticals
Subsegments:
1) By Active: GPS Tracking Devices, Cellular Tracking Devices, Real-Time Tracking Solutions
2) By Passive: Data Loggers, Fleet Management Solutions, Historical Tracking Systems
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Which geographical regions are pioneering growth in the vehicle tracking systems market?
North America was the largest region in the vehicle tracking system market in 2024.The regions covered in the vehicle tracking systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the vehicle tracking systems market landscape?
Major companies operating in the vehicle tracking systems market include Verizon Communications Inc., Spireon Inc., Geotab Inc., TomTom International B. V., Teletrac Navman, Cartrack Pty. Ltd., Calamp Corp., Teltonika Networks, ORBCOMM Inc., Xirgo Technologies, Laipac Technology Inc., Trackimo Inc., AirIQ Inc., Verizon Connect, MiX Telematics, Trimble Inc., Actsoft Inc., Ctrack, Masternaut Limited, Sierra Wireless Inc., AT&T Inc., FleetUp, Omnitracs LLC, Zonar Systems Inc., Fleetistics Inc., Azuga Inc., Onfleet Inc., Samsara Networks Inc., KeepTruckin Inc., Global Tracking Communications Inc., Fleetio Inc., NexTraq LLC, FleetLocate by Spireon Inc., FleetMind Solutions Inc.
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What Is Covered In The Vehicle Tracking Systems Global Market Report?
•Market Size Forecast: Examine the vehicle tracking systems market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the vehicle tracking systems market for a structured understanding.
•Key Players Overview: Analyze major players in the vehicle tracking systems market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the vehicle tracking systems market.
•Segment Contributions: Evaluate how different segments drive overall growth in the vehicle tracking systems market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the vehicle tracking systems market.
•Industry Challenges: Identify potential risks and obstacles affecting the vehicle tracking systems market.
•Competitive Landscape: Review strategic developments in the vehicle tracking systems market, including expansions, agreements, and new product launches.
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