Real Time Tracking Management System Market - Automotive Industry Is Create Lucrative Market Opportunities

Albany, NY -- (SBWire) -- 11/28/2018 --Real time tracking management system is a combination of hardware and software solutions used to automatically detect and track the real time location of an individual or object located indoor or in a contained area. Over the last few years, real time tracking management systems are being broadly adopted and installed across various end use verticals such as automotive, logistics, aerospace, and defense. Over the period 2014 – 2017, real time tracking management systems have proliferated extensively into the market.

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The system bridges the gap between field service and office desk tasks and enables a flawless and efficient communication network between a remote operator and the object or an individual. In transportation and logistics industry, implementation of a real time tracking management system helps an organization to monitor and manage its supply chain. By monitoring real time flow of goods and vehicle fleet, the organization can take corrective actions to strengthen its supply chain. This in turn helps industries to flourish.

Aerospace and defense are among the most lucrative markets for real time tracking management systems since these systems are highly required across aerospace and defense industry. The automotive industry is anticipated to create lucrative market opportunities for the real time tracking management system market. Fleet management operations are expected to drive the real time tracking management system market across the domestic and international market.

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Installation of tracking and tracing devices across public transport systems is expected to bolster the real time tracking management system market in the near future. Further, government initiatives to add utility to public services is creating scope for the deployment of tracking and management solutions, thus driving the global market. However, cyber security threats and data breaches are likely to hinder the market growth in near future. IoT proliferation is anticipated to create various opportunities for the market during the forecast period 2018 – 2026.