The global vehicle tracking system market is predicted to grow at a healthy CAGR between 2019- 2025, as per the recent Market Research Future (MRFR) analysis. A vehicle tracking system, simply put, is a defense system for the car against malicious, external threats to safeguard the car in every possible way. This system comprises detection, prevention, & response to threats using different technology such as connectivity technology, global positioning system (GPS), global navigation satellite system (GLONASS), and others that are widely used in commercial and residential industries.
Various factors are propelling the global vehicle tracking system market growth. According to the latest MRFR report, such factors include the rising concerns about vehicle security and safety, increase in fleet operations in emerging nations, demand for electric cars, and growing production & sales of commercial and passenger cars globally. Additional factors propelling market growth include the growing need for semi-autonomous and autonomous cars, the launch of 5G for car connectivity, the presence of developing economies of emerging countries, and cloud computing-based stolen car tracking systems.
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On the contrary, the impact of the COVID-19 outbreak, high cost, privacy, and network security issues & lack of GPS accuracy for challenging weather conditions are factors that may limit the growth of global vehicle tracking system market during the forecast period.
Leading players profiled in the global vehicle tracking system market report include TRACK GROUP (US), US Fleet Tracking (US), Inseego Corp. (US), Geotab Inc. (Canada), Spireon, Inc. (US), Verizon Communications Inc. (US), Robert Bosch GmbH (Germany), Continental AG (Germany), Cartrack Holdings Limited (South Africa), and AT&T Inc. (US).
The MRFR report provides an inclusive segmental analysis of the global vehicle tracking system market based on application, vehicle type, propulsion, technology, and type.
By type, the global vehicle tracking system market is segmented into an active and passive system. Of these, the active segment will lead the market over the forecast period.
By technology, the global vehicle tracking system is segmented into connectivity technology, global positioning system (GPS), global navigation satellite system (GLONASS), and others.
By propulsion type, the global vehicle tracking system is segmented into electric vehicle and ICE.
By vehicle type, the global vehicle tracking system market is segmented into the commercial vehicle and passenger car. Of these, passenger cars are predicted to dominate the market over the forecast period.
By application, the global vehicle tracking system market is segmented into commercial and residential.
Based on the region, the global vehicle tracking system market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. The accessibility of sophisticated technologies, the presence of top manufacturers & operating units of notable players, growing demand for automobiles in India, Japan, and China, and growing adoption of luxury and premium cars are adding to the global vehicle tracking system market in the region. India, Japan, and China have the maximum share in the market.
The global vehicle tracking system in Europe is predicted to hold the second-largest share over the forecast period, followed by North America. The rising number of car thefts coupled with burgeoning demand for new commercial vehicles are adding to the global vehicle tracking system in North America.
The global vehicle tracking system in the RoW is predicted to have sound growth over the forecast period. Expansion of international players, increased expenditure, technological changes in car security, and growing government initiatives are adding to the vehicle tracking system market growth in the region. Brazil has the maximum share in the market.
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Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
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