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.

By application, the market comprises residential and commercial. Of these, commercial vehicles are likely to have the largest share. Advance trackers are popular among commercial vehicles as they provide advanced vehicle diagnostics data, which can be monetized to augment the fleet operational performance, maintenance scheduling, and usage-based insurance calculation.

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. Companies are highly embracing the latest technologies to improve the products associated with vehicle security. This will further augment the development of efficient vehicle security systems and solutions.

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).