Vehicle Tracking Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast The global vehicle tracking systems market size is estimated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing need for enhanced operational efficiency, productivity, profitability, and cost-effectiveness along with the digitalization of vehicles across globe.
Vehicle tracking system enables round the clock tracking and control of automobiles through an online computer, smart phone, tablet, or other devices. Furthermore, various technology, such as the Global Positioning System (GPS) for mobile communications, and other radio frequency media are used to run this system. Moreover, vehicle tracking system helps to get real time and historical tracking data of vehicle speed, routes taken, stopping points, and idling durations on maps along with the registry and check points with past and current reports. Additionally, the implementation of 5G is contributing to the advancement of autonomous driving technology that relies on GPS for route planning and mobility. The commercialization of next-generation 5G technology is a top priority for many telecom carriers in recent years. Request Sample link :- https://growthmarketreports.com/request-sample/2228 Market Trends, Drivers, Restraints, and Opportunities
Increasing adoption of intelligent transport systems is one of the key factors fueling the market growth during the forecast period. Growing implementation of several disruptive technologies, such as mobility solutions, automation, robotics, and integration of Internet of Things (IoT) in the vehicle tracking industry are propelling the market expansion in the coming years. Increasing commercial vehicle sales along with the rising demand for fleet tracking and maintenance operations is estimated to boost the market growth.