Vehicle tracking system is a technology that is utilized to acquire data about the real-time location of vehicles, using either a cellular network or GPS technology. The tracking system comprises a positioning device, software, and sometimes, a view capturing device.
The global vehicle tracking system market is primarily driven by the expansion of goods and passenger transportation services. Vehicle fleet operators are willing to track their vehicles in order to obtain accurate vehicle data, location, performance, and driver behavior. Increased road freight transportation services are fueling the demand for automotive tracking system across the globe.
Expansion of the global passenger transportation industry, which is attributed to the rising presence of ride-hailing companies, vehicle rental companies, and increasing adoption of app-based transportation services are fueling the demand for automotive tracking system across the globe. Several trackers are capable of providing data about the actual running condition of the vehicle, such as vehicle speed, door open and close, and several other engine parameters; consequently, fleet operators are able to track the vehicle in order to ensure proper delivery and safe passenger transportation.
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Rapidly expansion of the ride-hailing industry, which attributed to supportive government policies and increasing demand from consumers, is likely to offer lucrative opportunities to the global automotive tracking system market.
The global vehicle tracking system market can be segmented based on technology, type, vehicle type, and geography. In terms of technology, the global vehicle tracking system market can be classified into two segments. Global Positioning System (GPS)-based vehicle trackers are more accurate as compared to cellular network-based tracker, thus the adoption of GPS-based tracking system is much higher than that of cellular network-based tracking system. GPS based tracking system, when connected with the internet, provides highly accurate vehicle position.
Post time: May-20-2019