Global Vehicle Tracking System Market to Reach USD 81.8 Billion by 2033, Fueled by Surging Demand for Fleet Management

December 31, 2024 | Technology & Media

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According to the latest report by IMARC Group, titled “Vehicle Tracking System Market Report by Component (Hardware, Software), Type (Active, Passive), Vehicle Type (Commercial Vehicles, Passenger Vehicles), Application (Mobile Tracking, Cellular Tracking, Satellite Tracking), Industry Vertical (Transportation and Logistics, Construction and Manufacturing, Aviation, Retail, Government, and Others), and Region 2025-2033,” the global vehicle tracking system market size reached USD 29.7 Billion in 2024. A vehicle tracking system is a technology that uses a global positioning system (GPS) or other tracking technologies to pinpoint and monitor the location and movement of vehicles in real-time. This system typically includes a tracking device installed in the vehicle, a central server, and software allowing the user to access the tracked data. Besides this, it also provides additional data such as speed, direction, idle time, and start/stop reports. The information is used for various purposes, such as fleet management, theft prevention, and monitoring driver behavior. In commercial settings, it assists in planning routes, improving efficiency, reducing fuel costs, and ensuring timely deliveries.

Global Vehicle Tracking System Market Trends:

The global vehicle tracking system market is primarily driven by the escalating demand for fleet management solutions in the logistics and transportation industry. These systems enable real-time tracking, route optimization, fuel monitoring, and vehicle maintenance scheduling, enhancing overall operational efficiency and cost-effectiveness. Moreover, the burgeoning e-commerce industry, with its reliance on timely deliveries and efficient logistics, is propelling the market growth. Besides this, the increasing emphasis on safety and security is contributing to the product's demand as these tracking systems help locate stolen vehicles and monitor driver behavior, thus mitigating risks and enhancing the safety of assets and personnel. In addition to this, significant advancements in technology, such as the integration of the Internet of Things (IoT), artificial intelligence (AI), and advanced telematics, have enabled the development of more sophisticated, reliable, and cost-effective tracking solutions, encouraging product adoption. Furthermore, the transition to 5G networks, the introduction of government regulations mandating the installation of tracking devices in commercial vehicles, the surge in contactless deliveries, and the need for efficient supply chain management are presenting remunerative growth opportunities for the market. Looking forward, the market value is projected to reach USD 81.8 Billion by 2033, expanding at a CAGR of 11.31% during 2025-2033.

Market Summary:

On the basis of the component, the market has been divided into hardware (OBD device/tracker and standalone tracker) and software (vehicle diagnostics, performance measurement, fleet analytics and reporting, and others). Between these, software holds the largest market share.
Based on the type, the market is bifurcated into active and passive. Presently, active represents the largest segment.
On the basis of the vehicle type, the market has been classified into commercial and passenger vehicles. Among these, passenger vehicles account for the largest market shares.
Based on the application, the market is categorized into mobile, cellular, and satellite tracking. Currently, satellite tracking is the biggest market segment.
On the basis of the industry vertical, the market has been segregated into transportation and logistics, construction and manufacturing, aviation, retail, government, and others. At present, transportation and logistics dominate the market.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, North America enjoys the leading market position.
The competitive landscape of the market has also been examined, with some of the key players being AT&T Inc., Cartrack, Continental AG, Geotab Inc., Inseego Corp., Orbcomm, Robert Bosch GmbH, Spireon Inc., Teletrac Navman (Vontier Corporation), TomTom N.V. and Verizon Communications Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Component, Type, Vehicle Type, Application, Industry Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	AT&T Inc., Cartrack, Continental AG, Geotab Inc., Inseego Corp., Orbcomm, Robert Bosch GmbH, Spireon Inc., Teletrac Navman (Vontier Corporation), TomTom N.V. and Verizon Communications Inc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Vehicle Tracking System Market to Reach USD 81.8 Billion by 2033, Fueled by Surging Demand for Fleet Management

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