Vehicle Tracking Systems Market size was valued at USD 18,597.4 million in 2021 and is expected to grow at a CAGR of 14.2% during the forecast period 2022 to 2028. The report provides a detailed overview of the global Vehicle Tracking Systems Market, and that can be segmented by Component, by System Type, by Technology, by Vehicle Type, and by end user. By component, the global Vehicle Tracking Systems Market has been segmented into Hardware, Software, Services. The software segment is likely to be the largest and fastest-growing segment in terms of component. Based on system, the global Vehicle Tracking Systems Market is segmented into Active Systems, Passive Systems. Among these, the Active Systems segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on technology, the global Vehicle Tracking Systems Market is segmented into GPS/Satellite, GPRS/Cellular Networks, Others. The GPS/Satellite segment accounts for the largest share in 2021. GPRS/Cellular Networks segment is the second-largest share during the forecast period 2022-2028. Based on the vehicle type, the segment has been segregated into Passenger Vehicles, Commercial Vehicles. The Commercial Vehicles segment is expected to dominate other segments in the global Vehicle Tracking Systems Market. Based on end user, the global Vehicle Tracking Systems Market is segmented into Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government & Defense, Others. The Transportation & Logistics accounts for the largest share in 2021.
In June 2019, Orbocomm Inc. created a Class B vessel tracking device in partnership with Pole Star Space Applications Limited and Weatherdock AG.
In April 2017, Globaltop Technology’s GNSS integrated module assets are owned by Sierra Wireless.