Vehicle Tracking Devices Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
Report Description
The global Vehicle Tracking Devices market size is estimated at USD 18.06 billion in 2020, expanding at a CAGR of 14.6% from 2021-2027.
Market Dynamics
The vehicle tracking device is an automated device that locates and monitors the position, timing, and mobility of the carriage. The growing demand for fleet telematics in the transportation and logistics industry is one of the main drivers for the growth of the vehicle tracking device market to the great extent. For instance, according to The International Council on Clean Transportation, it is estimated that between 40% and 50% of trucking fleets in Canada are currently using telematics systems. The electronic logging device (ELD) mandates in the United States and Canada have created a ripe market for the adoption of telematics systems.
In addition, the increasing adoption of car leasing and rental services across the emerging economies leads the company to deploy trackers for the improvement of its services. Moreover, the technological advancements in the automotive sector, such as autonomous vehicles as well as C-V2X technology, are relying on GPS-based location tracking systems to improve the reliability and accuracy of navigation. Therefore, these facts are attributable to the growth of the vehicle tracking device market at a significant level during the forecast period.
Based on tracking type, the wired vehicle tracking device is estimated to hold the largest market share during the forecast period. This is attributed to the constant power supply and reliable power connection for wired devices.
Based on vehicle type, the light commercial vehicle segment witnessed the largest market share during the forecast period due to the demand for cost-effective as well as low-emission ways to better manage the fleet operation. The quick growth of the construction and e-commerce industry enables the adoption of light commercial vehicles for the transportation of goods in the cities. This rising demand will boost the demand for vehicle tracking devices for safety and security.
Regionally, North America holds the largest revenue share of over 30% in 2020 and is estimated to register the constant growth rate during the forecast period. This is attributed to the rising government initiatives and stringent norms for emission in a developed nation which will in turn the rise adoption of smart devices in fleet management.
On the other hand, The Asia Pacific region accounted for a significant growth rate during the forecast period owing to the rapid expansion of the e-commerce industry as well technological advancements that will create ample opportunities for the growth of the vehicle tracking device market.
Some of the prominent players are TomTom International B.V.; Verizon; Geotab Inc.; ORBCOMM Inc.; and CalAmp. The company has primarily focused on product launches as well as mergers and acquisitions to grab the highest market share. For instance, In Jan 2021, TomTom launched GO Discover, its quickest and most powerful satnav, with the largest 7-inch HD screen for exceptional clarity. This product allows drivers to safely explore the world and offers outstanding picture clarity.
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Vehicle Tracking Devices by tracker type, vehicle type, communication technology, application, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):
- CalAmp Corporation
- Cartrack (Pty) Ltd, Concox Information Technology Co., Ltd.
- Garmin Ltd.
- Laird PLC
- Geotab Inc.
- Maestro Wireless Solutions Limited
- Meitrack Group
- Sierra Wireless, Inc.
- Queclink Wireless Solutions Co., Ltd.
- ORBCOMM Inc.
- Starcom Systems Ltd.
- TomTom International B.V.
Tracker Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Wired
- Wireless
Vehicle Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Vehicle
Communication Technology Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Cellular
- Dual Mode
- GPS/Satellite
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Oil & Gas
- Mining
- Transportation & Logistics
- Construction
- Emergency Services
Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain, etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)
Table Of Content
1. Vehicle Tracking Devices Market Overview
1.1. Product Overview and Scope of Vehicle Tracking Devices
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Vehicle Tracking Devices Market Size Growth Rate Analysis by Tracker Type 2020 VS 2027
1.3.1. Wired
1.3.2. Wireless
1.4. Global Vehicle Tracking Devices Consumption Comparison by Vehicle Type: 2020 VS 2027
1.4.1. Heavy Commercial Vehicle
1.4.2. Light Commercial Vehicle
1.4.3. Passenger Vehicle
1.5. Global Vehicle Tracking Devices Consumption Comparison by Communication Technology: 2020 VS 2027
1.5.1. Cellular
1.5.2. Dual Mode
1.5.3. GPS/Satellite
1.6. Global Vehicle Tracking Devices Consumption Comparison by Application: 2020 VS 2027
1.6.1. Oil & Gas
1.6.2. Mining
1.6.3. Transportation & Logistics
1.6.4. Construction
1.6.5. Emergency Services
1.7. Global Vehicle Tracking Devices Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.7.1. North America Vehicle Tracking Devices Estimates
1.7.2. Europe Vehicle Tracking Devices Estimates
1.7.3. China Vehicle Tracking Devices Estimates
1.7.4. Japan Vehicle Tracking Devices Estimates
2. Market Competition by Manufacturers
2.1. Global Vehicle Tracking Devices Revenue Market Share by Manufacturers (2020)
2.2. Vehicle Tracking Devices Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Vehicle Tracking Devices Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Vehicle Tracking Devices Production Sites, Area Served, Product Types
2.5. Vehicle Tracking Devices Market Competitive Situation and Trends
2.5.1. Vehicle Tracking Devices Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Vehicle Tracking Devices Consumption by Region (2016-2021)
3.1. Global Vehicle Tracking Devices Consumption by Region
3.2. Global Vehicle Tracking Devices Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Vehicle Tracking Devices Consumption Growth Rate (2016-2021)
3.2.3. North America Vehicle Tracking Devices Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Vehicle Tracking Devices Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Vehicle Tracking Devices Consumption Growth Rate (2016-2021)
3.2.7. Europe Vehicle Tracking Devices Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Vehicle Tracking Devices Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Vehicle Tracking Devices Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Vehicle Tracking Devices Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Vehicle Tracking Devices Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Vehicle Tracking Devices Consumption Growth Rate (2016-2021)
3.2.15. South America Vehicle Tracking Devices Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Vehicle Tracking Devices Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and AfricaVehicle Tracking Devices Consumption Growth Rate (2016-2021)
3.2.19. Middle East and AfricaVehicle Tracking Devices Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Vehicle Tracking Devices Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Vehicle Tracking Devices Consumption by Tracking Type (2016-2021)
4.1. Global Vehicle Tracking Devices Price by Tracking Type (2016-2021)
4.2. Global Vehicle Tracking Devices Revenue Market Share by Tracking Type (2016-2021)
4.2.1. Wired
4.2.2. Wireless
5. Global Vehicle Tracking Devices Consumption by Vehicle Type (2016-2021)
5.1. Global Vehicle Tracking Devices Price by Vehicle Type (2016-2021)
5.2. Global Vehicle Tracking Devices Revenue Market Share by Vehicle Type (2016-2021)
5.2.1. Heavy Commercial Vehicle
5.2.2. Light Commercial Vehicle
5.2.3. Passenger Vehicle
6. Global Vehicle Tracking Devices Consumption by Communication Technology (2016-2021)
6.1. Global Vehicle Tracking Devices Price by Communication Technology (2016-2021)
6.2. Global Vehicle Tracking Devices Revenue Market Share by Communication Technology (2016-2021)
6.2.1. Cellular
6.2.2. Dual Mode
6.2.3. GPS/Satellite
7. Global Vehicle Tracking Devices Consumption by Application (2016-2021)
7.1. Global Vehicle Tracking Devices Price by Application (2016-2021)
7.2. Global Vehicle Tracking Devices Revenue Market Share by Application (2016-2021)
7.2.1. Oil & Gas
7.2.2. Mining
7.2.3. Transportation & Logistics
7.2.4. Construction
7.2.5. Emergency Services
8. Key Companies Profiled
8.1. CalAmp Corporation
8.1.1. CalAmp Corporation Vehicle Tracking Devices Corporation Information
8.1.2. CalAmp Corporation Vehicle Tracking Devices Product Portfolio
8.1.3. CalAmp Corporation Vehicle Tracking Devices Consumption, Price and Gross Margin (2016-2021)
8.1.4. CalAmp Corporation Main Business and Markets Served
8.1.5. CalAmp Corporation Recent Developments/Updates
8.2. Cartrack (Pty) Ltd, Concox Information Technology Co., Ltd.
8.3. Garmin Ltd.
8.4. Laird PLC
8.5. Geotab Inc.
8.6. Maestro Wireless Solutions Limited
8.7. Meitrack Group
8.8. Sierra Wireless, Inc.
8.9. Queclink Wireless Solutions Co., Ltd.
8.10. ORBCOMM Inc.
8.11. Starcom Systems Ltd.
8.12. TomTom International B.V.
9. Marketing Channel, Distributors and Customers
9.1. Marketing Channel
9.2. Vehicle Tracking Devices Distributors List
9.3. Vehicle Tracking Devices Customers
10. Market Dynamics
10.1. Vehicle Tracking Devices Industry Trends
10.2. Vehicle Tracking Devices Growth Drivers
10.3. Vehicle Tracking Devices Market Challenges
10.4. Vehicle Tracking Devices Market Restraints
11. Global Vehicle Tracking Devices Consumption and Demand Forecast, by Region (2022-2027)
11.1. Global Forecasted Demand Analysis of Vehicle Tracking Devices, by Regions and Country
11.1.1. North America Forecasted Consumption of Vehicle Tracking Devices by Country
11.1.2. Europe Market Forecasted Consumption of Vehicle Tracking Devices by Country
11.1.3. Asia Pacific Market Forecasted Consumption of Vehicle Tracking Devices by Region
11.1.4. Latin America Forecasted Consumption of Vehicle Tracking Devices by Country
11.1.5. Middle East and Africa Forecasted Consumption of Vehicle Tracking Devices by Country
12. Global Vehicle Tracking Devices Consumption and Demand Forecast, by Tracking Type Segments (2022-2027)
12.1. Global Forecasted Consumption of Vehicle Tracking Devices by Tracking Type Segments(2022-2027)
12.2. Global Consumption and Price Forecast by Tracking Type Segments (2022-2027)
12.3. Global Forecasted Growth Rate of Vehicle Tracking Devices by Tracking Type Segments(2022-2027)
13. Research Finding and Conclusion
14. Methodology and Data Source
14.1. Methodology/Research Approach
14.1.1. Research Programs/Design
14.1.2. Market Size Estimation
14.1.3. Market Breakdown and Data Triangulation
14.2. Data Source
14.2.1. Secondary Sources
14.2.2. Primary Sources
14.3. Author List
14.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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