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Vehicle Tracking System Market

Global Vehicle Tracking System Market Size, Forecast: By Component: Hardware, Software; By Type: Active, Passive; By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles; By Technology: GPRS/Cellular Networks, GPS/Satellite, Dual Mode; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Vehicle Tracking System Market Outlook

The global vehicle tracking system market size was approximately USD 24.10 billion in 2023. The market is further projected to grow at a CAGR of 13.9% between 2024 and 2032, reaching a value of USD 77.80 billion by 2032.

 

Key Trends in the Market

A vehicle tracking system uses GPS satellites and GPS servers to provide accurate information about a vehicle’s location. GPS satellites are connected to GPS tracking devices installed in the vehicle. Their prime task is to gather information on driving hours, date and time, and excessive speeding, and transmit this information over wireless networks to the GPS server. When individuals connect with the server on their computers, they can easily see the vehicle's location in real-time.

 

  • One of the key vehicle tracking system market trends is the robust growth of the automotive industry. Moreover, increasing fleet operations are prompting stakeholders to adopt vehicle tracking systems for route optimisation, improved safety, asset tracking, enhanced productivity, and reduced downtime.
  • With growing investments  in the development of autonomous and semi-autonomous vehicles, the installation of tracking systems such as GPS to ensure their safe navigation on the road is rising. In June 2023, Zero, an AI-based startup from Bangalore, created India’s first fully autonomous car called zPod.
  • With the increasing prominence of ridesharing companies like Ola and Uber as well as packaging and moving companies like Porter and HCL, monitoring passenger safety and selecting the right route have emerged as leading priorities for profitability and customer satisfaction. Hence, the increasing demand for smart vehicles, equipped with GPS and other real-time location-sharing capabilities, is expected to fuel the vehicle tracking system market demand in the forecast period.

 

Market Analysis

Based on component, the market can be bifurcated into hardware and software. By type, the market is segmented into active tracking and passive tracking. On the basis of vehicle type, the market is divided into passenger cars, light commercial vehicles, and heavy commercial vehicles.

 

The vehicle tracking system market segmentation, based on technology, includes GPRS/cellular networks, GPS/satellite, and dual mode. On the basis of end use, the market can be divided into transportation and logistics, construction and manufacturing, aviation, retail, and government and defence, among others. The major regional markets are  North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global vehicle tracking system market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Verizon Communication Inc.
  • Karooooo Limited (Cartrack)
  • CalAmp Corp.
  • Trackimo Inc.
  • Geotab Inc. 
  • TELTONIKA IoT Group
  • Tom Tom International BV
  • Xirgo Technologies LLC
  • Vontier Corporation
  • Laipac Technologies Inc.
  • Others

 

Market Share by End Use

As per the vehicle tracking system market analysis, the transportation and logistics sector accounts for a significant share in the market due to emergence of local ridesharing and carpooling companies across different countries. Vehicle tracking devices are widely used to monitor fuel consumption and vehicle safety to ensure a safe travel experience for passengers.

 

With advancements in technology, the utilisation of vehicle tracking systems by logistics and transportation companies to locate their vehicles, optimise resources, ensure quality service, and enhance driver performance is anticipated to rise in the coming years.

 

Market Share by Region

The Asia Pacific, which includes countries like India, China, and Thailand, is expected to occupy a substantial vehicle tracking system market share due to growing sales of passenger and commercial vehicles. The increasing focus on vehicle safety and security is also propelling the demand for vehicle tracking systems in the region.

 

Moreover, the Asia Pacific is witnessing a significant growth in sectors like logistics, which is surging the requirement for efficient tracking of vehicles’ locations to ensure timely delivery of goods and services to people. Meanwhile, the increasing popularity of ridesharing platforms in regions like North America, Europe, Latin America, and the Middle East and Africa is expected to favour the market demand in the forecast period.

 

Competitive Landscape

Verizon Communication Inc. is a telecommunication company that has two business divisions- Verizon Consumer and Verizon Business. It is headquartered in New York City, USA. It was originally founded as Bell Atlantic Corporation in 1983 and became Verizon Inc. in the year 2000. It is one of the second largest carriers of wireless mobile networks in the country and makes cable television and landline phones. It also provides internet and broadband services to customers.

 

Karooooo Limited (Cartrack), founded in South Africa in 2004, operates in fleet management, stolen vehicle recovery, and insurance telematics segments. Its technology is widely accepted by motor manufacturers and insurers across the globe. It also provides driver risk assessment offerings in the insurance telematics field. It has 1,000,000+ connected vehicles and is continuing to grow rapidly.

 

Geotab Inc. is a privately held company that was found in 2000. It is a global leader in IoT and fleet management. It uses web-based analytics for helping organisations manage their fleets that are connected to the internet. It has over 47,000 customers in 150 countries and is headquartered in Oakville, Canada. It provides its services to all sizes and types of industries, including driver coaching and routing and dispatching.

 

Other key vehicle tracking system market players are CalAmp, Trackimo Inc., TELTONIKA IoT Group, Tom Tom International BV, Xirgo Technologies LLC (Sensata Technologies, Inc.), Vontier Corporation, and Laipac Technologies Inc., among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Type
  • Vehicle Type
  • Technology
  • End Use
  • Region
Breakup by Component
  • Hardware
  • Software
Breakup by Type
  • Active
  • Passive
Breakup by Vehicle Type
  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
Breakup by Technology
  • GPRS/Cellular Networks
  • GPS/Satellite
  • Dual Mode
Breakup by End Use
  • Transportation and Logistic
  • Construction and Manufacturing
  • Aviation
  • Retail
  • Government and Defence
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Verizon Communication Inc.
  • Karooooo Limited (Cartrack)
  • CalAmp Corp.
  • Trackimo Inc.
  • Geotab Inc. 
  • TELTONIKA IoT Group
  • Tom Tom International BV
  • Xirgo Technologies LLC
  • Vontier Corporation
  • Laipac Technologies Inc.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Vehicle Tracking System Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Vehicle Tracking System Historical Market (2018-2023) 
    8.3    Global Vehicle Tracking System Market Forecast (2024-2032)
    8.4    Global Vehicle Tracking System Market by Component
        8.4.1    Hardware
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Software
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Vehicle Tracking System Market by Type
        8.5.1    Active
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Passive
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Vehicle Tracking System Market by Vehicle Type
        8.6.1    Passenger Cars
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Light Commercial Vehicles
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Heavy Commercial Vehicles
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
    8.7    Global Vehicle Tracking System Market by Technology
        8.7.1    GPRS/Cellular Networks
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    GPS/Satellite
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Dual Mode
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
    8.8    Global Vehicle Tracking System Market by End Use
        8.8.1    Transportation and Logistic
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Construction and Manufacturing
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Aviation
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Retail
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Government and Defence
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
        8.8.6    Others
    8.9    Global Vehicle Tracking System Market by Region
        8.9.1    North America
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Europe
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Asia Pacific
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)
        8.9.4    Latin America
            8.9.4.1    Historical Trend (2018-2023)
            8.9.4.2    Forecast Trend (2024-2032)
        8.9.5    Middle East and Africa
            8.9.5.1    Historical Trend (2018-2023)
            8.9.5.2    Forecast Trend (2024-2032)
9    North America Vehicle Tracking System Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Vehicle Tracking System Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Vehicle Tracking System Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Vehicle Tracking System Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Vehicle Tracking System Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Verizon Communication Inc. 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Karooooo Limited (Cartrack) 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    CalAmp Corp. 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Trackimo Inc. 
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Geotab Inc. 
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    TELTONIKA IoT GROUP 
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    TomTom International BV 
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Xirgo Technologies, LLC (Sensata Technologies, Inc.) 
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Vontier Corporation  
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Laipac Technology Inc. 
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Vehicle Tracking System Market: Key Industry Highlights, 2018 and 2032
2.    Global Vehicle Tracking System Historical Market: Breakup by Component (USD Billion), 2018-2023
3.    Global Vehicle Tracking System Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.    Global Vehicle Tracking System Historical Market: Breakup by Type (USD Billion), 2018-2023
5.    Global Vehicle Tracking System Market Forecast: Breakup by Type (USD Billion), 2024-2032
6.    Global Vehicle Tracking System Historical Market: Breakup by Vehicle Type (USD Billion), 2018-2023
7.    Global Vehicle Tracking System Market Forecast: Breakup by Vehicle Type (USD Billion), 2024-2032
8.    Global Vehicle Tracking System Historical Market: Breakup by Technology (USD Billion), 2018-2023
9.    Global Vehicle Tracking System Market Forecast: Breakup by Technology (USD Billion), 2024-2032
10.    Global Vehicle Tracking System Historical Market: Breakup by End Use (USD Billion), 2018-2023
11.    Global Vehicle Tracking System Market Forecast: Breakup by End Use (USD Billion), 2024-2032
12.    Global Vehicle Tracking System Historical Market: Breakup by Region (USD Billion), 2018-2023
13.    Global Vehicle Tracking System Market Forecast: Breakup by Region (USD Billion), 2024-2032
14.    North America Vehicle Tracking System Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    North America Vehicle Tracking System Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Europe Vehicle Tracking System Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Europe Vehicle Tracking System Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Asia Pacific Vehicle Tracking System Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Asia Pacific Vehicle Tracking System Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Latin America Vehicle Tracking System Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Latin America Vehicle Tracking System Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Middle East and Africa Vehicle Tracking System Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Middle East and Africa Vehicle Tracking System Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Global Vehicle Tracking System Market Structure

Key Questions Answered in the Report

What was the global vehicle tracking system market value in 2023?

In 2023, the market reached an approximate value of USD 24.10 billion.

What is the growth rate of the vehicle tracking system market?

The market is estimated to grow at a CAGR of 13.9% between 2024 and 2032.

What is the forecast outlook of the vehicle tracking system market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 77.80 billion by 2032.

What are the major market drivers?

The market is being driven by investments in the development of autonomous and semi-autonomous vehicles and the growing demand for tracking vehicles for timely delivery of goods and services.

What are the key trends of the market?

The key trends aiding the market expansion include innovations and new product launches, the growth of the automotive industry, and rise in the number of ridesharing companies.

What are the major regional markets of vehicle tracking system, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What vehicle types use vehicle tracking systems?

Vehicle tracking systems can be used by passenger cars, light commercial vehicles, and heavy commercial vehicles.

Who are the key market players, according to the vehicle tracking system market report?

The major players in the market are Verizon Communication Inc., Karooooo Limited (Cartrack), CalAmp Corp., Trackimo Inc., Geotab Inc., TELTONIKA IoT Group, Tom Tom International BV, Xirgo Technologies, LLC (Sensata Technologies, Inc.), Vontier Corporation, and Laipac Technologies Inc., among others.

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Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

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