Selbyville, DE -- (SBWIRE) -- 11/20/2018 -- Global vehicle tracking market is projected to cross USD 11 billion by 2024.

Rising automobile security concerns, particularly in corporate sector is primarily driving the industry growth rate over the study period. Increasing need to monitor the automobile movement for passenger and goods security will further boost the product sales. Integration of telecommunication and information technology has developed next generation solutions in diverse sectors. This enables rapid deliveries with precision inducing immense potential to the industry over the forecast time span.

Request a Sample of this premium Research Report@ https://www.marketstudyreport.com/request-a-sample/980139/

Report Mainly focuses on the top Manufacturers in global market are given bellow - Garmin, Calamp, Navotar, Maestro Wireless Solutions Ltd., Orbocomm, Fleetistics. eBay, Amazon, India Mart, Flipkart, Snap Deal, and TrackMe.

Wired devices segment in the vehicle tracking market is anticipated to acquire 92% of the volume share over the forecast period. Continuous technological improvements such as enhanced satellite view along with cell phone tracking are propelling the customers to increasingly implement these devices in their fleet. Wireless vehicle tracking units are predicted to pose significant growth rate due to their compact size and ease of portability.

Active vehicle tracking units will hold highest volume share till 2024 due to provision of benefits such as accuracy in delivery time information, versatile networks, automatic reassignment, and real time monitoring. Passive technology will exhibit over 7.5% CAGR during the forecast period owing to easy and quick installation process.

Heavy commercial vehicles sector will witness more than 12% CAGR over the forecast timeline. This growth can be credited to increasing demand for transportation of goods and passengers coupled with rising construction activities across the globe. Light commercial vehicles segment will hold significant share over the study period owing to expanding transportation activities for light weight goods such as international and domestic courier services.

Increasing product installation by the transportation service providers for ensuring speed deliveries of goods has resulted in high demand for GPS fleet monitoring, promoting the industry growth rate. Multiple nations are mandating strict regulatory norms for implementation and usage of GPS fleet monitoring units owing to increasing automobile theft. For instance, Brazilian government will mandate deployment of antitheft unit in all the vehicles whether imported or produced in the nation. These devices enable monitoring of the automobile at any moment. Such mandating regulations will provide stable growth prospects to the vehicle tracking market over the projected time span.

Provision of various benefits including driver & vehicle safety, improved administration, cost reduction, time management, better life cycle management, and enhanced customer services are accelerating the industry over the forecast time span. Additionally, increasing demand for premium and luxury vehicles in developed nations will multiply product adoption rate.

Adoption of these GPS monitoring devices may cause drivers to feel that their privacy is invaded, or their employer doesnt trust them. Moreover, the devices are not cost effective to be deployed in each fleet coupled with database and software maintenance. These factors may negatively impact the vehicle tracking market to proliferate till 2024.

Request a Discount of this premium Vehicle Tracking Market Research Report@ https://www.marketstudyreport.com/check-for-discount/980139/

Fleet management segment will grow substantially between 2017 and 2024. This growth can be attributed to benefits offered such as fuel monitoring, maximum automobile utilization, and speed detection. Cargo logistics will pose significant growth rate owing to improvements in mobile technology. These improved units enable continuous communication with the automobiles. Ease of availability and cost effectiveness will further influence the product penetration across the globe.

North America is estimated to hold maximum volume share over the next eight years owing to presence of technology providers together with major automobile manufacturers across the region. Multiple regulatory bodies such as Federal Motor Carrier Safety Administration (FMCSA) is mandating product deployment in all type of automobiles thereby enhancing the regional dominance. Asia Pacific will exhibit significant growth owing to increasing automobile production combined with upcoming strict rules particularly in developing nations.

Data Tables:
TABLE 1 Vehicle Tracking industry 360 degree synopsis, 2013 - 2024
TABLE 2. Vehicle Tracking market estimates and forecast, 2013 - 2017, (Units) (USD Million)
TABLE 3. Vehicle Tracking market estimates and forecast, 2017 - 2024, (Units) (USD Million)
TABLE 4. Vehicle Tracking market estimates and forecast by position, 2013 - 2017 (Units)
TABLE 5. Vehicle Tracking market estimates and forecast by position, 2017 - 2024 (Units)
TABLE 6. Vehicle Tracking market estimates and forecast by position, 2013 - 2017 (USD Million)
TABLE 7. Vehicle Tracking market revenue estimates and forecast by position, 2017 - 2024 (USD Million)
TABLE 8. Vehicle Tracking market volume estimates and forecast by arrangement, 2013 - 2017 (Units)
TABLE 9. Vehicle Tracking market volume estimates and forecast by arrangement, 2017 - 2024 (Units)
TABLE 10. Vehicle Tracking market revenue estimates and forecast by arrangement, 2013 - 2017 (USD Million)

To View Full Report@ https://www.marketstudyreport.com/reports/vehicle-tracking-market

About Market Study Report
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.