Global Vehicle Tracking System Market

Vehicle Tracking System Market Size, Share, Growth Analysis, By Component, By Vehicle Type, By Technology, By Type, By End Use, By Region -Industry Forecast 2025-2032

Report ID: SQMIG45E2280 | Region: Global | Published Date: December, 2024
Pages: 186 | Tables: 88 | Figures: 71

Vehicle Tracking System Market News

  • In August 2024, Navman Wireless introduced the ultra-modern edition of its GPS messaging and navigation device, named ‘M-Nav 760’. This novel console incorporates the OnlineAVL2 vehicle tracking system for better management of fleet. It can also be detached from the vehicle and used separately, turn-by-turn GPS component.
  • In July 2022, Fleet Complete introduced a novel next-gen cellular dashcam as a unit of FC Vision Solution that combines video telematics and artificial intelligence for alerts and driver coaching in real-time. This also comprises strong tools to streamline safety protocols and offer another set of eyes on the traffic.
  • In October 2022, GPS Insight announced that it acquired Certified Tracking Solutions. The strategic alliance with Certified Tracking Solutions helps GPS Insight to offer stronger solutions to their consumers, while increasing their competitive advantage in field service industries and fleet management.
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Vehicle Tracking System Market size was valued at USD 28.04 Billion in 2023 and is poised to grow from USD 31.99 Billion in 2024 to USD 80.55 Billion by 2032, growing at a CAGR of 14.1% during the forecast period (2025-2032).

The highly competitive global vehicle tracking system market is distinguished by the combination of many prominent players who are engaged in the development of novel products and enhance consumer experience and satisfaction. The leading market vendors like Geotab, Verizon Connect, and Samsara are dominating the global market with strong brand names and extensive consumer bases. Most other companies operating in the market are incorporating advanced technologies like AI, IoT, and big data analytics to improve fleet management, advance tracking capabilities, and provide predictive maintenance. Companies are also focused on strategic partnerships to enhance competencies and expand service offerings. Overall, the market is speedily evolving with consumer-centric technologies and innovations to improve tracking. 'CalAmp ', 'Cartrack Holdings Limited ', 'Continental AG ', 'Geotab Inc. ', 'Trackimo ', 'Teltonika ', 'Teletrac Navman US Ltd ', 'Tomtom, Inc. ', 'Verizon Communication Inc. ', 'ClearPathGPS ', 'Fleet Complete ', 'Omnicomm ', 'Sensata Technologies Inc. ', 'Laipac Technology Inc. ', 'CompTrackimo '

The speedy growth of e-commerce has increased expectations from consumers for timely delivery of products. This results in businesses to actively implementing vehicle tracking techniques to improve customer service and operational efficiency. Vehicle tracking systems assist businesses to enhance their supply chains, offering visibility in real-time for movements of products. These factors are driving the growth of the vehicle tracking system market.

Integration of Telematics and IoT: Internet of Things is considerably improving vehicle tracking systems by allowing data analysis and data collection in real-time. Telematics systems and devices are currently offering improved functionalities, including fuel efficiency, monitoring, and driver behavior. This incorporation assists operators of the fleet to take wide decisions, reduce operational costs, and optimize routes for drivers.

Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to the growing technological improvements in telematics and GPS, increasing demand for fleet management, and regulatory compliance. North America is home to numerous technology companies that are engaged in advancements and innovations in telematics and global positioning systems. This improves the capabilities of vehicle tracking systems. Strong transportation and logistics also impact the demand for effective and reliable fleet management services that majorly are dependent on vehicle tracking systems. Stringent regulations for vehicle safety, driver behavior, and emissions in the region motivate organizations to implement vehicle tracking systems for better compliance. The key players profiled in the region include Verizon Connect, Geotab, Samsara, Teletrac Navman, Fleet Complete, GPS Trackit, and more.

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Global Vehicle Tracking System Market

Report ID: SQMIG45E2280

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