Market Overview

The Global Vehicle Tracking System Market was valued at USD 24,586.2 million in 2023 and is expected to reach USD 70,627.8 million by 2031 while growing at a CAGR of 14.1% during the forecast period (2024-2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global vehicle tracking system market growth. A Vehicle Tracking System (VTS) utilizes GPS or GLONASS along with communication technologies to monitor and track the real-time location of vehicles. Offering detailed insights into movement, speed, and direction, these systems serve diverse purposes such as fleet management, security, and logistics.

Increasing fleet management needs and regulatory mandates, coupled with technological advancements in GPS and IoT, are driving the growth of the Vehicle Tracking System market. Despite this positive momentum, obstacles such as the cost of implementation and privacy concerns may hinder further market expansion.

Furthermore, the global vehicle tracking system industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Component Analysis

The Global Vehicle Tracking System Market is segmented among Hardware, and Software, based on Component. In 2023, Software accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Vehicle Type Analysis

The Global Vehicle Tracking System Market is segmented among Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle, based on Vehicle Type. In 2023, Passenger Vehicle accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Vehicle Tracking System Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Cartrack, Verizon, Geotab Inc., TomTom International BV., TOKAIRIKA, CO, LTD., CalAmp, TELTONIKA, ORBCOMM, Sensata Technologies Inc., Laipac Technology Inc., and Trackimo.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Vehicle Tracking System Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Vehicle Tracking System Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Vehicle Tracking System Market Segmentation, By Component

• Global Vehicle Tracking System Market Share Analysis, By Component

• Global Vehicle Tracking System Market Growth Analysis, By Component

• Global Vehicle Tracking System Market Trends, By Component

o Hardware

Ø OBD Device/ Tracker

Ø Advance Tracker

Ø Standalone Tracker

o Software

Ø Performance Measurement

Ø Vehicle Diagnostics

Ø Fleet Analytics and Reporting

Ø Driver Behaviour Monitoring

Ø Others

6. Global Vehicle Tracking System Market Segmentation, By Vehicle Type

• Global Vehicle Tracking System Market Share Analysis, By Vehicle Type

• Global Vehicle Tracking System Market Growth Analysis, By Vehicle Type

• Global Vehicle Tracking System Market Trends, By Vehicle Type

o Passenger Vehicle

o Light Commercial Vehicle

o Heavy Commercial Vehicle

7. Global Vehicle Tracking System Market Segmentation, By Technology

• Global Vehicle Tracking System Market Share Analysis, By Technology

• Global Vehicle Tracking System Market Growth Analysis, By Technology

• Global Vehicle Tracking System Market Trends, By Technology

o GPS/Satellite

o GPRS/Cellular Network

o Dual Mode

8. Global Vehicle Tracking System Market Segmentation, By Type

• Global Vehicle Tracking System Market Share Analysis, By Type

• Global Vehicle Tracking System Market Growth Analysis, By Type

• Global Vehicle Tracking System Market Trends, By Type

o Active

o Passive

9. Global Vehicle Tracking System Market Segmentation, By End-Use

• Global Vehicle Tracking System Market Share Analysis, By End-Use

• Global Vehicle Tracking System Market Growth Analysis, By End-Use

• Global Vehicle Tracking System Market Trends, By End-Use

o Transportation and Logistics

o Construction and Manufacturing

o Aviation

o Retail

o Government and Defense

o Others

10. Global Vehicle Tracking System Market Segmentation, By Region

• Global Vehicle Tracking System Market Share Analysis, By Region

• Global Vehicle Tracking System Market Growth Analysis, By Region

• Global Vehicle Tracking System Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

11. Competitive Landscape

• Cartrack*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Verizon, Geotab Inc.

• TomTom International BV.

• Tokairika, Co, Ltd.

• CalAmp

• Teltonika

• Orbcomm

• Sensata Technologies Inc.

• Laipac Technology Inc.

• Trackimo

*Similar analysis will be provided for each company listed above.