Vehicle Tracking System Market OverviewThe global vehicle tracking system market is anticipated to garner a CAGR of 14.3% during the forecast period (2019-2025), Market Research Future (MRFR) unveils in a detailed report. A vehicle tracking system can be defined as a real-time data tracking system that generally works by using GSM and GPS technologies. The system offers the exact movement of a vehicle from any specified location, at any given time. These systems are also popular among consumer vehicles for monitoring, theft prevention, and retrieval device.
Competitive Dashboard
The players operating in the global vehicle tracking system market include Cartrack Holdings Limited (South Africa), AT&T Inc. (US), Robert Bosch GmbH (Germany), Continental AG (Germany), Spireon, Inc. (the US), Verizon Communications Inc. (US), Inseego Corp. (US), Geotab Inc. (Canada), TRACK GROUP (US), and US Fleet Tracking (US).
Segmental Analysis
The global [FURL=https://www.marketresearchfuture.com/reports/vehicle-tracking-system-market-7947]vehicle tracking system market[/FURL] is segmented on the basis of type, technology, propulsion, vehicle type, and application.
By type, the vehicle tracking system market is segmented into active and passive system. Of these, the active segment is likely to be the most lucrative one, due to the surging preference for real-time data reporting and monitoring, which indirectly reflects the future of mobility solutions.
By technology, the vehicle tracking system market is segmented into global positioning system (GPS), global navigation satellite system (GLONASS), connectivity technology, and others.
By propulsion type, the market is segmented into ICE and electric vehicle.
By vehicle type, the market is segmented into passenger car and commercial vehicle. Of these, passenger vehicles are likely to gain prominence due to the growth in fleet operators, specifically in emerging markets. The proliferation of the internet is also considered a key factor contributing to the market growth in the passenger car segment.
Regional Frontiers
Geographically, the vehicle tracking system market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
North America will experience significant growth for the vehicles security market, mainly due to the soaring demand for new commercial vehicles, coupled with the growing number of vehicle thefts. The increasing demand for environmentally-friendly vehicles is further estimated to trigger the demand from the vehicle tracking system market. Moreover, the existence of industry bigshots like Spireon, Inc, Verizon Communications Inc, THE US Fleet Tracking, and Inseego Corp in Canada and the U.S. are promoting the market growth.
Industry Updates
June 2019: Zensors, a Carnegie Mellon University spinout company, involved in the development of cloud-based visual sensing systems, has recently unveiled its all-new deep learning technology, named Car Pose Net. This technology is a 3D vehicle tracking system, which uses existing camera infrastructure.
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