Vehicle Tracking System Industry| COVID-19 Analysis

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The growing demand for electric vehicles due to the rising concern for the environment is are encouraging the adoption of vehicle tracking system. It is expected to fuel the market growth. In the years to come, the surge in the production of commercial and passenger vehicles due to their growing demand as urban population expands, can catalyse the growth of the global Vehicle Tracking System Industry.

Segmental Outline

The global Vehicle Tracking System Industry is assessed y segmental analysis to obtain a comprehensive study. The worldwide market of vehicle tracking system segments are based on technology, type, vehicle type, propulsion, and application. By type, the market is sectioned into active and passive system. By technology, the market is segmented into global positioning system (GPS), connectivity technology, global navigation satellite system (GLONASS), and others. By propulsion type, the market is sectioned into electric vehicle and ICE. By vehicle type, the market is split into commercial vehicle and passenger car. The application-based segments of the market are commercial and residential.

Regional Outlook

In North America, the market is likely to register a high CAGR in the forecast period. The surge in demand for new passenger and commercial vehicles can spur the expansion of the Vehicle Tracking System Industry. The growing number of vehicle thefts is also expected to propel the APAC Vehicle Tracking System Industry growth in the years to come.

In regions, such as the Middle East & Africa, and South America the Vehicle Tracking System Industry growth is expected to spur due to the increase in the expenditure on vehicle making by international players. In South America, the Vehicle Tracking System Industry is likely to register a decent growth patter owing to the rapid integration of advanced technologies in the vehicle tracking system.

Key Players

MRFR profiled some of major players of the global Vehicle Tracking System Industry. They are; Cartrack Holdings Limited (South Africa), AT&T Inc. (US), Robert Bosch GmbH