Global Automobile Tracking Systems Market Research Report: Information by Type (Active and Passive System), by Technology [Global Navigation Satellite System (GLONASS), Global Positioning System (GPS), Connectivity Technology and others], by Propulsion (ICE and Electric Vehicle), by Vehicle Type (Passenger Car and Commercial Vehicle), by Application (Residential and Commercial) and by Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2025
Automobile Tracking Systems Market Overview
The global Automobile Tracking Systems market is anticipated to garner a CAGR of 14.3% during the forecast period (2019-2025), Market Research Future (MRFR) unveils in a detailed report. A Automobile Tracking Systems can be defined as a real-time data tracking system that generally works by using GSM and GPS technologies. The system offers the exact movement of a vehicle from any specified location, at any given time. These systems are also popular among consumer vehicles for monitoring, theft prevention, and retrieval device.
Market Potential and Pitfalls
The soaring adoption of intelligent transport systems is considered one of the primary driving factors of the Automobile Tracking Systems market. The growth in fleet operations, especially in the emerging markets, is predicted to propel the revenue growth of the Automobile Tracking Systemss market. The rising concerns over vehicle security and safety, soaring demand for electric vehicles, and rising production and sales of commercial as well as passenger vehicles are some of the major factors promoting the market growth across the globe. Also, the soaring demand for semi-autonomous and autonomous vehicles and the advent of cloud computing-based stolen Automobile Tracking Systemss and 5G for vehicle connectivity are offering ample opportunities for the market to expand.
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On the contrary, the failure of cellular and GPS-based trackers, owing to limited wireless and cellular network coverage is predicted to restrict the market growth in the foreseeable future. Moreover, the cost associated with the development of Automobile Tracking Systems is estimated to act as a barrier for new entrants.
The players operating in the global Automobile Tracking Systems market include Cartrack Holdings Limited (South Africa), AT&T Inc. (US), Robert Bosch GmbH (Germany), Continental AG (Germany), Spireon, Inc. (the US), Verizon Communications Inc. (US), Inseego Corp. (US), Geotab Inc. (Canada), TRACK GROUP (US), and US Fleet Tracking (US).
The global Automobile Tracking Systems market is segmented on the basis of type, technology, propulsion, vehicle type, and application.
By type, the Automobile Tracking Systems market is segmented into active and passive system. Of these, the active segment is likely to be the most lucrative one, due to the surging preference for real-time data reporting and monitoring, which indirectly reflects the future of mobility solutions.
By technology, the Automobile Tracking Systems market is segmented into global positioning system (GPS), global navigation satellite system (GLONASS), connectivity technology, and others.
By propulsion type, the market is segmented into ICE and electric vehicle.
By vehicle type, the market is segmented into passenger car and commercial vehicle. Of these, passenger vehicles are likely to gain prominence due to the growth in fleet operators, specifically in emerging markets. The proliferation of the internet is also considered a key factor contributing to the market growth in the passenger car segment.
By application, the market comprises residential and commercial. Of these, commercial vehicles are likely to have the largest share. Advance trackers are popular among commercial vehicles as they provide advanced vehicle diagnostics data, which can be monetized to augment the fleet operational performance, maintenance scheduling, and usage-based insurance calculation.
Geographically, the Automobile Tracking Systems market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, the Asia Pacific is considered to be a prominent region in the global market due to the soaring adoption of luxury and premium vehicles among consumers. The Automobile Tracking Systems market in the APAC is likely to flourish due to the surging demand for automobiles, especially in Japan, China, and India. Moreover, the presence of prominent manufacturers and operating units of global players, coupled with the high availability of sophisticated technologies, will propel the regional market’s growth in the coming years.
North America will experience significant growth for the vehicles security market, mainly due to the soaring demand for new commercial vehicles, coupled with the growing number of vehicle thefts. The increasing demand for environmentally-friendly vehicles is further estimated to trigger the demand from the Automobile Tracking Systems market. Moreover, the existence of industry bigshots like Spireon, Inc, Verizon Communications Inc, THE US Fleet Tracking, and Inseego Corp in Canada and the U.S. are promoting the market growth. Companies are highly embracing the latest technologies to improve the products associated with vehicle security. This will further augment the development of efficient vehicle security systems and solutions.
June 2019: Zensors, a Carnegie Mellon University spinout company, involved in the development of cloud-based visual sensing systems, has recently unveiled its all-new deep learning technology, named Car Pose Net. This technology is a 3D Automobile Tracking Systems, which uses existing camera infrastructure.
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