Vehicle Tracking Device Market; Regional Trends, Growth Revenue & Industry Analysis to 2025

Vehicle Tracking Device Market; Regional Trends, Growth Revenue & Industry Analysis to 2025

Global vehicle tracking device market is anticipated to depict a CAGR of 20% through 2025, having recorded a valuation of $600 million in 2018. By 2025, the market is expected to hit a remuneration of $3 billion, further claims the latest study by Global Market Insights Inc.

 

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Rising demand for fleet management in logistics and transportation industries is driving the vehicle tracking device market size. Fleet operators are switching to tracking solutions to monitor the fleet operations. Vehicle tracking systems enable fleet operators to keep a track of various factors, including fuel consumption, engine parameters, driver’s behavior, etc. These systems are hugely benefitting the logistics and transportation companies, as they reduce the total cost of ownership by augmentation of uptime, safety and mobile device visibility.

 

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.

 

Increasing government investments in advanced technologies for improvisation of public transportation will positively impact Europe vehicle tracking device industry. 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:

Data Tables

TABLE 1   Vehicle tracking industry 360º synopsis, 2014 - 2025

TABLE 2   Vehicle tracking device market, 2014 - 2018, (USD Million)

TABLE 3   Vehicle tracking device industry, 2019 - 2025, (USD Million)

TABLE 4   Vehicle tracking device industry, 2014 - 2018, (Thousand Units)

TABLE 5   Vehicle tracking device industry, 2019 - 2025, (Thousand Units)

TABLE 6   Vehicle tracking device industry estimates and forecast, by region, 2014 - 2018 (USD Million)

TABLE 7   Vehicle tracking device industry estimates and forecast, by region, 2019 - 2025 (USD Million)

TABLE 8   Vehicle tracking device market estimates and forecast, by tracker type, 2014 - 2018 (USD Million)

TABLE 9   Vehicle tracking device industry estimates and forecast, by tracker type, 2019 - 2025 (USD Million)

TABLE 10   Vehicle tracking device industry estimates and forecast, by tracker type, 2014 - 2018 (Thousand Units)

TABLE 11   Vehicle tracking device market estimates and forecast, by tracker type, 2019 - 2025 (Thousand Units)

TABLE 12   Wired tracking market estimates and forecast, by vehicle type, 2014 - 2018 (USD Million)

 

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