Growing market for fleet management to boost the demand for Vehicle Tracking System globally!

As per an estimate from one of the top consulting firms, the global fleet management market generated revenue of US$8 billion in 2015, the market is predicted to register CAGR growth of around 20% during 2016-2022 period to reach market valuation of US$22 billion by 2022. Vehicle Tracking System (VTS) uses technologies such as GPS and other navigation system operating via satellite and ground-based stations to track the vehicles anywhere on earth. It is predicted that vehicle security being the primary concern for vehicle owners, would provide ample growth opportunity for the automotive technology service providers to cater to the untapped market for VTS. Logistics companies such as Blue Dart and Gati in India are using vehicle tracking system (VTS) to track the status of shipments they need to deliver.?

With growing demand for telematics products, system suppliers and GPS vendors are expecting a decline in price of GPS chips and other allied components, this is expected to boost the sale of vehicle tracking system in India. India has the second-largest road network globally, spanning a total of 5.89 million kms. It transports 64.5% of all goods in the country and 90% of India's total passenger traffic uses road network to commute. Government of India is investing billions of dollars for the upgradation of existing national highway network and building new highways. This is expected to boost the road transportation sector, in turn would help the market for vehicle tracking system to grow at a reasonable pace.

Request Sample Copy of this Report @ https://univdatos.com/get-a-free-sample-form-php/?product_id=12596

According to UnivDatos Market Insights (UMI)’ research report “Vehicle Tracking System Market”, the market is expected to witness CAGR growth of around 18% during the forecast period 2021-2027F. Vehicle Tracking System Market is experiencing significant growth due to Accelerated road freight transportation services, Expansion of goods and passenger transportation services, Integration of real-time monitoring and fuel management in vehicles and safety & security concern and Growing adoption of application-based transportation services. However, High price associated with the technology paired with Concern related to data privacy and cyber security threats to restrain the market growth. ?

Based on Type, the Vehicle Tracking System Market is segmented into Active and Passive system. Active system is expected to witness high adoption owing to its reliability and accuracy. Active trackers is also known as real-time trackers, as it transmit data via satellite or a cellular network, which instantly indicates where the vehicle is located.?

Based on Technology, the market is bifurcated into GPS-based tracking system, Cellular network-based, Satellite based system. GPS-based tracking system provide more accurate data compared to cellular network-based trackers; hence, adoption of GPS-based tracking system is higher, compared to the cellular network-based tracking system.?

Based on Vehicle Type, the market is segmented into Commercial Vehicle, Passenger vehicle. Currently, Commercial Vehicle segment dominates the market. Commercial vehicles are used by fleet operators for goods transportation, hence, to track the vehicle demand for vehicle tracking system among the commercial vehicle is more.?

Based on Application, the market is segmented into Transportation and Logistics, Manufacturing, Aviation, Retail, Government Sector, Others. Transportation and Logistics segment dominates the market. Geotab Inc. is one of the top players in the market and more than 1.5 million Geotab devices are currently in operation.

Asia-Pacific to witness highest adoption of the technology

Based on regions, the report provides detailed analysis for overall demand of Vehicle Tracking System for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and Rest of World. Asia-Pacific is expected to witness significant growth during the forecast period.

Request Sample Copy of this Report @ https://univdatos.com/get-a-free-sample-form-php/?product_id=12596

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Vehicle Tracking System Market are Robert Bosch, AT&T Inc., Verizon Communications Inc., TomTom Inc., Continental AG, Fortive Corporation, Inseego Corp., Geotab Inc., Cartrack Holdings Limited, Xirgo Technologies, LLC. etc. These companies are investing heavily on Vehicle Tracking System to increase their customer base.

§?In November 2021, Nvidia launched new technology to expand its reach in the automotive industry, including a virtual driving assistant that can park a standard car and a system to speed up the training of autonomous vehicles

§?In March 2021, Autotech company CarDekho announced the launch of vehicle tracking device Uplink which will help owners obtain a host of real-time information about their cars and ensure round-the-clock safety and surveillance of their vehicles

§?In July 2019, u?blox, a leading provider of positioning and wireless communication technologies partnered and Arvento Mobile Systems, a global pioneer in vehicle telematics and fleet management technology, announce the launch of new imt.x1 vehicle tracking system

“Vehicle Tracking System Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.?????

For more informative information, please visit us @ https://univdatos.com/report/vehicle-tracking-system-market/

Market Segmentation:

1.?????By Type (Active System, Passive System)

2.?????By Technology (GPS-based tracking system, Cellular network-based, Satellite based system)

3.?????By Vehicle Type (Commercial Vehicle, Passenger vehicle)

4.?????By Application (Transportation and Logistics, Manufacturing, Aviation, Retail, Government Sector, Others)

5.?????By Region (North America, Europe, Asia-Pacific, Rest of World)

6.?????By Company (Robert Bosch, AT&T Inc., Verizon Communications Inc., TomTom Inc., Continental AG, Fortive Corporation, Inseego Corp., Geotab Inc., Cartrack Holdings Limited, Xirgo Technologies, LLC.)

Key questions answered in the study:

1.?????What are the current and future trends of the Vehicle Tracking System industry?

2.?????How the industry has been evolving in terms of end-user demand and product category?

3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.?????What are the key growth drivers and challenges for the Vehicle Tracking System industry?

5.????What is the customer orientation, purchase behavior, and expectations from the Vehicle Tracking System suppliers across various countries??