Sellbyville, DE -- (SBWIRE) -- 10/19/2018 -- 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.

Request For Sample Copy Of This Report @ https://www.gminsights.com/request-sample/detail/193

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.

Global vehicle tracking market size 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 size over the forecast 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 size 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 doesn't 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.

Make an inquiry before buying this report @ https://www.gminsights.com/inquiry-before-buying/193

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.

Browse Report Summary @ https://www.gminsights.com/industry-analysis/vehicle-tracking-market

Vehicle tracking market players are Garmin, Calamp, Navotar, Maestro Wireless Solutions Ltd., Orbocomm, and Fleetistics. The players are engaged in increasing their foothold across the globe through partnering with various online distributors such as GPS-Track, eBay, Amazon, India Mart, Flipkart, Snap Deal, and TrackMe.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.