Vehicle Tracking Systems Market

1. Vehicle Tracking Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast The global vehicle tracking systems market size is estimated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing need for enhanced operational efficiency, productivity, profitability, and cost-effectiveness along with the digitalization of vehicles across globe. Vehicle tracking system enables round the clock tracking and control of automobiles through an online computer, smart phone, tablet, or other devices. Furthermore, various technology, such as the Global Positioning System (GPS) for mobile communications, and other radio frequency media are used to run this system. Moreover, vehicle tracking system helps to get real time and historical tracking data of vehicle speed, routes taken, stopping points, and idling durations on maps along with the registry and check points with past and current reports. Additionally, the implementation of 5G is contributing to the advancement of autonomous driving technology that relies on GPS for route planning and mobility. The commercialization of next-generation 5G technology is a top priority for many telecom carriers in recent years. Request Sample link :- https://growthmarketreports.com/request-sample/2228 Market Trends, Drivers, Restraints, and Opportunities  Increasing adoption of intelligent transport systems is one of the key factors fueling the market growth during the forecast period. Growing implementation of several disruptive technologies, such as mobility solutions, automation, robotics, and integration of Internet of Things (IoT) in the vehicle tracking industry are propelling the market expansion in the coming years. Increasing commercial vehicle sales along with the rising demand for fleet tracking and maintenance operations is estimated to boost the market growth.  

2.  High cost involved in advanced systems installation along with the lack of consumer awareness is expected to hamper the market expansion in the coming years. Fast adoption of tracking systems by transportation & logistics businesses in order to gain a strong customer base is anticipated to offer immense opportunity for the market during the forecast period.  Market Segment Insights: Active segment is expected to grow at a rapid pace Based on types, the global vehicle tracking systems market is bifurcated into passive and active. The active segment is expected to grow at a rapid pace during the forecast period, owing to its capacity to track real-time data across cellular and satellite networks. Furthermore, active vehicle tracking systems have several advantages such as labor law compliance, flexible networks, and accurate delivery time information. However, the passive segment is expected to register a considerable CAGR in the coming years. Vehicle data is collected and stored on a hard disc or memory card by passive vehicle tracking devices. On the other hand, simple functionality and zero monthly fee are estimated to boost the segment growth. Enquiry Link :- https://growthmarketreports.com/enquiry-before-buying/2228 Competitive Landscape Some of the major players competing in the global vehicle tracking systems market are Trackimo Inc.; CalAmp; TELTONIKA; Verizon; Laipac Technology Inc.; Geotab Inc.; Xirgo Technologies, LLC; Cartrack; ORBCOMM Inc.; and TomTom International B.V. These major players are progressively engaging in various marketing strategies such as, merger & acquisition, partnership, collaboration, R&D activities, and new product launches in order to gain competitive advantage in the market. For example, Geotab Inc. announced the launch of its novel GO9+ telematics solution in January 2021, that comprises Wi-Fi connectivity. The GO9+ helps companies to gain real-time insights into their vehicles along with the Wi-Fi access for up to four hours with the ignition off. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys. Contact: Growth Market Reports Phone: +1 909 414 1393

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