PUNE, India, March 4, 2022 (GLOBE NEWSWIRE) — The global vehicle tracking device market is expected to grow due to the increasing adoption of GPS technology in the logistics sector. This information will be published in Fortune Business Insights™, the latest forthcoming report entitled “Vehicle Tracking Devices Market Size, Share and Industry Analysis, by Type (OBD Device, Standalone Tracker, Advance Tracker), by Emergency Vehicle (Commercial Vehicle, Cargo Vehicle, Container Vehicle), by Industry (Metals & Mining, Transportation, Logistics & Construction, Other) and Regional Forecast, 2019-2026.”

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Nowadays, modern cars have the option of installing a GPS to track the vehicle by pinpointing its exact location. Along with this, a GPS also comes with an inbuilt navigation system. A vehicle tracking device consists of software that automatically tracks the vehicle’s location and stores the data that is useful for locating the vehicle. A vehicle tracking device is most beneficial in vehicle theft cases as it can track the exact location of the stolen vehicle. Additionally, in some countries, the government is taking steps to implement the use of vehicle tracking devices in commercial segment vehicles in addition to the passenger segment. This should boost demand over the forecast period.

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Driver and restraint systems:

Increasing acceptance in the logistics industry will significantly increase growth

Technological advances can be observed in the logistics industry, with several companies using current technological trends to improve the efficiency of the supply chain system. GPS technology not only helps drivers navigate from different locations, but has also completely transformed the transportation industry. From a smart mobile device, logistics companies can easily locate vehicles in real-time, plan driver deployments effectively, and manage costs to avoid losses. Several logistic companies adopting the use of vehicle tracking devices to efficiently manage the supply chain are expected to propel the growth of the market during the projected horizon. For example, in March 2020, Track’em Pty, a leading asset and materials tracking platform, announced its latest version of the Materials Tracking Platform. The platform will enable companies to manage materials and logistics across their entire supply chain system.

Regional Analysis:

Increasing state investments bode well for the market in Europe

Among the regions, the market is expected to grow significantly in Europe owing to the increasing government investments in advanced technologies over the forecast period. On the other hand, North America will see strong growth for the vehicle tracking device market in the foreseeable future. This is attributed to factors such as the high adoption of the devices in countries like the US and Canada to monitor anti-poaching patrols and track real-time location.

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Competitive landscape:

Aeris announces vehicle tracking system for auto finance companies

In February 2020, Aeris Communications, an India-based service provider, announced its new auto-tracking system that offers real-time visibility of vehicles by tracking their live location and providing history. The company also announced its joint venture with Volkswagen Group of America and Ventic LLC to develop and operate platform technology for connected vehicles. Product launches and joint ventures by key players will contribute to the growth of the market during the forecast period. Here are some industrial developments:

Industrial developments:

June 2019: ORBCOMM Inc., a global provider of Internet solutions, announces its collaboration with maritime technology pioneers Weatherdock and Pole Star to develop Hali. Hali is a class B ship tracking solution that allows the user to see the ship in full.

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Companies operating in the Global Vehicle Tracking Devices Market:

• Orbocomm Inc.
• Calamp Corporation
• Concox Wireless Solution Co., Ltd.
• TomTom International B.V
• Sierra Wireless Inc.
• ATrack Technology Inc.
• Trackimo LLC.
• Meitrack Group
• Geotab Inc.
• Laird PLC

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