Vehicle Tracking Device Market: Global Analysis, Regional outlook And Forecast To 2025

Vehicle Tracking Device Market size is set to exceed USD 3 billion by 2025. Growth of vehicle tracking device industry share can be accredited to the emerging demand of advanced fleet management solutions for reduction of fleet operating expenditure. Large scale fleet operators are seeking solutions to remotely observe their fleet operations.

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Wireless vehicle tracking devices are being increasingly used across various business verticals in the past few years owing to low power consumption and compact size. Wireless tracking devices facilitate extensive wired interface and wireless communications that easily adapt to the tracking requirements. They consist of built-in antennas and geo fencing techniques that reduce the overall size and eliminate external antennas and wires. Since wireless vehicle tracking devices are compact in size, they integrate easily into vehicles – a factor that is positively influencing vehicle tracking device industry outlook.

Vehicle tracking systems are expected to bring this number down by tracking behavior of passenger vehicle drivers. The systems also monitor sudden lane changes, acceleration, over speeding, cornering instances, harsh braking and driving under the influence of alcohols, which helps heavy commercial vehicles operating companies to reduce the number of road accidents with alerts of wrong driving practices. Heavy commercial vehicles segment in vehicle tracking device market is projected to record growth rate of over 25% BY 2025.

The fleet management systems enable mining companies to track the location of vehicles to prevent thefts and while increasing efficiency. Government authorities are also imposing regulations for the safety of mining vehicles. The mining sector is estimated to contribute substantially to the growth in vehicle tracking device industry, to register CAGR of over 20% over the forecast timespan, due to high demand for safer mining operations.

In terms of geographical expansion, the growing number of innovations in the automobile sector has invariably contributed to the remuneration scale of Europe vehicle tracking device market. With innovations like self-driving cars and the introduction of C-V2X (cellular vehicle – to – everything), there is a growing demand for vehicle tracking devices to facilitate safety of passengers. Several companies are introducing autonomous vehicles in Europe. For instance, the European Commission has urged the need for research and innovations of autonomous vehicles in this region.

In 2016, the Executive Agency, Trading Fund of the Cabinet Office of the United Kingdom government and Crown Commercial Service signed a vehicle telematics pact to aid public transportation to improve road safety and efficiency. Europe vehicle tracking device market is estimated to grow by over 17% during the forecast timeline.

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Some Point from Table of Contents:

Chapter 6. Vehicle Tracking Device Market, By Vehicle Type

6.1. Key trends, by vehicle type

6.2. Passenger Vehicle (PV)

6.2.1. Market estimates and forecast, 2014 – 2025

6.3. Light Commercial Vehicle (LCV)

6.3.1. Market estimates and forecast, 2014 – 2025

6.4. Heavy Commercial Vehicle (HCV)

6.4.1. Market estimates and forecast, 2014 – 2025

Chapter 7. Vehicle Tracking Device Market, By Communication Technology

7.1. Key trends, by communication technology

7.2. Cellular

7.2.1. Market estimates and forecast, 2014 - 2025

7.3. GPS/Satellite

7.3.1. Market estimates and forecast, 2014 – 2025

7.4. Dual mode

7.4.1. Market estimates and forecast, 2014 - 2025

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