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.

On the contrary, the failure of cellular and GPS-based trackers, owing to limited wireless and cellular network coverage is predicted to restrict the market growth in the foreseeable future.

Segmental Analysis

The global vehicle tracking system market is segmented on the basis of type, technology, propulsion, vehicle type, and application.

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. COVID-19 Impact

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).

Considering the global scenario, the Asia Pacific is considered to be a prominent region in the global market due to the soaring adoption of luxury and premium vehicles among consumers. The vehicle tracking system market in the APAC is likely to flourish due to the surging demand for automobiles, especially in Japan, China, and India. 

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.

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).

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