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Vehicle Tracking Market Analysis and Industry Forecast, 2016 – 2023

Vehicle Tracking Market Analysis and Industry Forecast, 2016

The Research Report on “Vehicle Tracking Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023”, Global fleet management market size was valued at USD 8 billion in 2015 and is anticipated to exceed USD 22 billion by 2022, growing at a CAGR of over 20% from 2016 to 2023. It offers real-time location of each vehicle in the desired fleet.

Global vehicle tracking market combines software with automatic vehicle location in order to collect the fleet data for a complete picture of vehicle locations. These systems mainly employ Global Navigation Satellite System (GLONASS) or Global Positioning System (GPS) technology to locate and track the vehicle.

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Real time data can assist with confirmation of delivery and allow users to supervise working-time guidelines conformity. Moreover, it precisely accounts hours spent and hours worked behind the wheel and also registers the past data of the vehicle. Savings can also be done by monitoring the driven route and speed.

Government, manufacturing, transportation and logistics, retail, energy and utilities and construction are the key vertical segments. Manufacturing vehicle tracking market share was the largest vertical owing to increasing focus on maintaining separate fleet of vehicles.

Technologies such as sensors, Radio Frequency Identification (RFID) and GPS tracker are employed to monitor vehicles and fleet movement along with the fuel usage. It includes wide range of functions including operation management, driver management and asset management that helps manufacturers to efficiently operate and manage their fleets with minimum risk by providing real-time information. North America vehicle tracking market share is predicted to observe significant growth over the several upcoming years.

Proliferating demand for operational efficiency is likely to surge the vehicle tracking market. Increasing fuel consumption, maintenance cost and accidents is anticipated to drive fleet management market size over the forecast period.

Moreover, integration of Internet of Things (IoT) technology with vehicles is expected to boost the adoption rate of tracking systems in developed regions such as Europe and North America. However, high cost involved in installation of these systems is anticipated to hamper the demand over the forecast period. Lack of consumer awareness is also likely to challenge the industry growth.

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Key players accumulating major vehicle tracking market share include Nissan, Garmin, Trimble, AT&T, Cisco Systems, Fleetmatics, IBM, Verizon Communications, Tomtom and GE Capital. Other prominent industry participants are Davantel, Pointer, Navika, Huizhou Foryou, and Gasgoo.

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Automotive Radar Market Size By Application (Adaptive Cruise Control (ACC), Blind Spot Detection (BSD), Lane Departure Warning System (LDWS), Parking Assistance (PA), Forward Collision Warning System (FCWS)), Industry Analysis Report, Regional Outlook (U.S., Germany, France, China, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

https://www.gminsights.com/industry-analysis/automotive-radar-market

Vehicle To Vehicle (V2V) Communication Market Size, Industry Outlook Report, Regional Analysis (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Technology Development, Competitive Landscape & Forecast, 2016 – 2023

https://www.gminsights.com/industry-analysis/vehicle-to-vehicle-v2v-communication-market

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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