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Global Automatic Vehicle Location System Market to Grow at a CAGR of 13% During 2022-2027, Aided by the Growing Focus on Vehicle Safety

According to a new report by EMR titled, ‘Global Automatic Vehicle Location System Market Report and Forecast 2022-2027’, the global market for automatic vehicle location system attained a value of about USD 19.9 billion in 2021. The market is further estimated to grow at a CAGR of 13% in the forecast period of 2022-2027.

The market for automatic vehicle location system is being augmented by the growing focus on vehicle security and vehicle management. As the popularity of shared mobility is increasing, automatic vehicle location systems are deployed for asset and performance monitoring, detailed trip reporting, and real-time scheduling, dispatch, and forecasting. The surging deployment of such systems to capture real-time data on mileage, maintenance, and onboard inventory, among others, is significantly contributing to the growth of the market. With the growing trend of automated driving, the requirement for advanced automatic vehicle location systems for route planning and driving compliances is expected to increase. Moreover, technological advancements and innovations to boost the reliability and accuracy of automatic vehicle location systems are predicted to strengthen the market growth in the coming years.

Descartes Systems Group (NASDAQ: DSGX), one of the leading companies in the market, acquired PinPoint in August 2018. The latter aids its consumers to collect real-time location information on trucks using various technologies, to drive fleet productivity, manage performance, and comply with government regulations. With the growing adoption of telematics in the United States and Canada due to the Electronic Device Logging (EDL) mandate, the acquisition would enable the company’s Routing, Mobile, and Telematics business to meet the evolving demands of consumers. The acquisition also enables the company to enhance its ability to leverage and collect real-time information for optimised GPS tracking, vehicle telematics, delivery route planning, performance analytics, and fleet/driver compliance. Such merger and acquisition (M&A) activities are significantly contributing to the market growth of automatic vehicle location system.

Market Analysis by Type, Solution Type, and Region:

  • The market, on the basis of type, can be divided into direction finding, signpost systems, and GPS based.
  • Based on solution type, the market can be divided into asset tracking, vehicle tracking, stolen vehicle recovery (SVR), fleet management, and parking habits.
  • The regional markets for automatic vehicle location system include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The robust growth of the e-commerce sector and the rising demand for commercial vehicles are propelling the market for automatic vehicle location system.
  • As automatic vehicle location systems offer enhanced experience and cost-effectiveness, they are increasingly adopted in commercial vehicles, which is augmenting the market development.
  • The increasing fleet regulation and the growing security and safety concerns in the transportation sector are surging the deployment of automatic vehicle location systems, hence bolstering the market growth.
  • The market growth can also be attributed to the growing risk of cybersecurity, the rising availability of advanced vehicle security technologies, and the surging deployment of intelligent transportation systems.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for automatic vehicle location system for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, solution types, and major regions of automatic vehicle location system.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global automatic vehicle location system market are Atlanta Systems Private Limited, Descartes, C3LS, Reveon Technologies Corp., Global Tracking Group, Datum Tracking Group, and Power System Engineering, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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