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Report
Vehicle Tracking System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-07-05 I 149 Pages I IMARC Group
Market Overview:
The global vehicle tracking system market size reached US$ 23.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 50.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.2% during 2023-2028. The rising concerns about vehicle safety and security, the proliferation of ride-hailing companies and MaaS, and ongoing technological innovations represent some of the key factors driving the market.
A vehicle tracking system (VTS) is an electronic device that uses global positioning system (GPS) technology to track and monitor the location of vehicles in real-time. The system consists of a GPS receiver which is installed in the car, a communication device, and a web-based software platform. The GPS receiver tracks the vehicle's location, speed, and direction while the communication device sends this data to the software platform. The software platform then provides real-time information on the vehicle's position, route, and speed to the user, allowing them to monitor the vehicle's movements. Fleet managers broadly use vehicle tracking systems to improve fleet efficiency, reduce fuel consumption, and enhance driver safety. Apart from this, it is also used by individuals to monitor the location of their personal vehicles for added security.
Vehicle Tracking System Market Trends:
The bolstering growth of the automotive industry and the rising need for efficient real-time monitoring solutions for accurate data collection are primarily driving the market growth. Besides this, concerns regarding safety and security among consumers due to the surge in vehicle thefts and accidents across the world are fueling the need for sophisticated security measures, such as vehicle tracking systems, to ensure the safety of vehicles and their occupants. Moreover, the widespread product adoption across ride-hailing companies, mobility-as-a-service (MaaS), and app-based transportation services to enhance the overall vehicle performance by providing real-time location data, fuel consumption, driver behavior, and maintenance status is aiding in market expansion. Additionally, the implementation of stringent regulations by several governments around the world mandating the use of VTS in commercial vehicles is acting as a significant growth-inducing factor. Furthermore, innovative technological advancements, including the integration of GPS, the Internet of Things (IoT), cloud computing, and telematics, to improve operational efficiency are presenting remunerative growth opportunities for the market. Apart from this, these technologies help users optimize routes, proactively address vehicle maintenance issues, and ensure safe and efficient vehicle operations, which, in turn, is creating a favorable outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vehicle tracking system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type, vehicle type, application and industry vertical.
Component Insights:
Hardware
OBD Device/Tracker
Standalone Tracker
Software
Vehicle Diagnostics
Performance Measurement
Fleet Analytics and Reporting
Others
The report has provided a detailed breakup and analysis of the vehicle tracking system market based on the component. This includes hardware (OBD device/tracker and standalone tracker) and software (vehicle diagnostics, performance measurement, fleet analytics and reporting, and others). According to the report, software represented the largest segment.
Type Insights:
Active
Passive
A detailed breakup and analysis of the vehicle tracking system market based on the type has also been provided in the report. This includes active and passive. According to the report, active accounted for the largest market share.
Vehicle Type Insights:
Commercial Vehicles
Passenger Vehicles
The report has provided a detailed breakup and analysis of the vehicle tracking system market based on the vehicle type. This includes commercial and passenger vehicles. According to the report, passenger vehicles represented the largest segment.
Application Insights:
Mobile Tracking
Cellular Tracking
Satellite Tracking
A detailed breakup and analysis of the vehicle tracking system market based on the application has also been provided in the report. This includes mobile, cellular, and satellite tracking. According to the report, satellite tracking accounted for the largest market share.
Industry Vertical Insights:
Transportation and Logistics
Construction and Manufacturing
Aviation
Retail
Government
Others
The report has provided a detailed breakup and analysis of the vehicle tracking system market based on the industrial vertical. This includes transportation and logistics, construction and manufacturing, aviation, retail, government, and others. According to the report, transportation and logistics represented the largest segment.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for vehicle tracking system. Some of the factors driving the North America vehicle tracking system market included the escalating concerns regarding vehicle safety and security, the increasing number of ride-hailing companies and MaaS in the region, and ongoing product advancements.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global vehicle tracking system market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include AT&T Inc., Cartrack, Continental AG, Geotab Inc., Inseego Corp., Orbcomm, Robert Bosch GmbH, Spireon Inc., Teletrac Navman (Vontier Corporation), TomTom N.V. and Verizon Communications Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the global vehicle tracking system market in 2022?
2. What is the expected growth rate of the global vehicle tracking system market during 2023-2028?
3. What has been the impact of COVID-19 on the global vehicle tracking system market?
4. What are the key factors driving the global vehicle tracking system market?
5. What is the breakup of the global vehicle tracking system market based on the component?
6. What is the breakup of the global vehicle tracking system market based on the type?
7. What is the breakup of the global vehicle tracking system market based on the vehicle type?
8. What is the breakup of the global vehicle tracking system market based on the application?
9. What is the breakup of the global vehicle tracking system market based on the industry vertical?
10. What are the key regions in the global vehicle tracking system market?
11. Who are the key players/companies in the global vehicle tracking system market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Vehicle Tracking System Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Hardware
6.1.1 Market Trends
6.1.2 Key Segments
6.1.2.1 OBD Device/Tracker
6.1.2.2 Standalone Tracker
6.1.3 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Key Segments
6.2.2.1 Vehicle Diagnostics
6.2.2.2 Performance Measurement
6.2.2.3 Fleet Analytics and Reporting
6.2.2.4 Others
6.2.3 Market Forecast
7 Market Breakup by Type
7.1 Active
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Passive
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Vehicle Type
8.1 Commercial Vehicles
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Passenger Vehicles
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Mobile Tracking
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Cellular Tracking
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Satellite Tracking
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Industry Vertical
10.1 Transportation and Logistics
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Construction and Manufacturing
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Aviation
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Retail
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Government
10.5.1 Market Trends
10.5.2 Market Forecast
10.6 Others
10.6.1 Market Trends
10.6.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia-Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 AT&T Inc.
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.1.3 Financials
16.3.1.4 SWOT Analysis
16.3.2 Cartrack
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Continental AG
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.3.3 Financials
16.3.3.4 SWOT Analysis
16.3.4 Geotab Inc.
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.5 Inseego Corp.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Financials
16.3.6 Orbcomm
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 SWOT Analysis
16.3.7 Robert Bosch GmbH
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 SWOT Analysis
16.3.8 Spireon Inc.
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.9 Teletrac Navman (Vontier Corporation)
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.10 TomTom N.V.
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.10.3 Financials
16.3.10.4 SWOT Analysis
16.3.11 Verizon Communications Inc.
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
16.3.11.3 Financials
16.3.11.4 SWOT Analysis
Figure 1: Global: Vehicle Tracking System Market: Major Drivers and Challenges
Figure 2: Global: Vehicle Tracking System Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Vehicle Tracking System Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Vehicle Tracking System Market: Breakup by Component (in %), 2022
Figure 5: Global: Vehicle Tracking System Market: Breakup by Type (in %), 2022
Figure 6: Global: Vehicle Tracking System Market: Breakup by Vehicle Type (in %), 2022
Figure 7: Global: Vehicle Tracking System Market: Breakup by Application (in %), 2022
Figure 8: Global: Vehicle Tracking System Market: Breakup by Industry Vertical (in %), 2022
Figure 9: Global: Vehicle Tracking System Market: Breakup by Region (in %), 2022
Figure 10: Global: Vehicle Tracking System (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Vehicle Tracking System (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Vehicle Tracking System (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Vehicle Tracking System (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Vehicle Tracking System (Active) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Vehicle Tracking System (Active) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Vehicle Tracking System (Passive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Vehicle Tracking System (Passive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Vehicle Tracking System (Commercial Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Vehicle Tracking System (Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Vehicle Tracking System (Passenger Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Vehicle Tracking System (Passenger Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Vehicle Tracking System (Mobile Tracking) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Vehicle Tracking System (Mobile Tracking) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Vehicle Tracking System (Cellular Tracking) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Vehicle Tracking System (Cellular Tracking) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Vehicle Tracking System (Satellite Tracking) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Vehicle Tracking System (Satellite Tracking) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Vehicle Tracking System (Transportation and Logistics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Vehicle Tracking System (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Vehicle Tracking System (Construction and Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Vehicle Tracking System (Construction and Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Vehicle Tracking System (Aviation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Vehicle Tracking System (Aviation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Vehicle Tracking System (Retail) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Vehicle Tracking System (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Vehicle Tracking System (Government) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Vehicle Tracking System (Government) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Global: Vehicle Tracking System (Other Industry Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Global: Vehicle Tracking System (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: North America: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: North America: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: United States: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: United States: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Canada: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Canada: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Asia-Pacific: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Asia-Pacific: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: China: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: China: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Japan: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Japan: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: India: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: India: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: South Korea: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: South Korea: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Australia: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Australia: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Indonesia: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Indonesia: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Others: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Others: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Europe: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Europe: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Germany: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Germany: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: France: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: France: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: United Kingdom: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: United Kingdom: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Italy: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Italy: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Spain: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Spain: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Russia: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Russia: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Others: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Others: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Latin America: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Latin America: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Brazil: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Brazil: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Mexico: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Mexico: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Others: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Others: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Middle East and Africa: Vehicle Tracking System Market: Sales Value (in Million US$), 2017 & 2022
Figure 87: Middle East and Africa: Vehicle Tracking System Market: Breakup by Country (in %), 2022
Figure 88: Middle East and Africa: Vehicle Tracking System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Global: Vehicle Tracking System Industry: SWOT Analysis
Figure 90: Global: Vehicle Tracking System Industry: Value Chain Analysis
Figure 91: Global: Vehicle Tracking System Industry: Porter's Five Forces Analysis
Table 1: Global: Vehicle Tracking System Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Vehicle Tracking System Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Vehicle Tracking System Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 4: Global: Vehicle Tracking System Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
Table 5: Global: Vehicle Tracking System Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Vehicle Tracking System Market Forecast: Breakup by Industry Vertical (in Million US$), 2023-2028
Table 7: Global: Vehicle Tracking System Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 8: Global: Vehicle Tracking System Market: Competitive Structure
Table 9: Global: Vehicle Tracking System Market: Key Players
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