PUBLISHER: TechSci Research | PRODUCT CODE: 1348799
PUBLISHER: TechSci Research | PRODUCT CODE: 1348799
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The India Vehicle Tracking System Market is anticipated to register a high CAGR in the forecast period. Vehicle Tracking System using GPS and android based smartphone is a device that can track vehicle at anywhere. A set of tools for transportation design are offered by Vehicle Tracking System, such as parking layout design and roundabout design. These tools are available for steered vehicles, light rail vehicles, and aircraft. India Vehicle Tracking System market is anticipated to grow on account of growing need to monitor the vehicle movement. Vehicle Tracking System technology also helps to improve the efficiency by providing shorter route, traffic, and other details. Moreover, regulatory norms for the installation of vehicle tracker on new public transport starting from 1st January 2019 and launch of Indian Regional Navigation Satellite System (IRNSS) for accurate real-time positioning are further positively influencing the growth of the market.
One of the main factors boosting the growth of the Vehicle Tracking System market is the implementation of real-time monitoring and fuel management in vehicles, as well as safety and security concerns within transportation services. Moreover, it is anticipated that during the forecast period, a rise in fleet operations will accelerate market revenue growth. But fleet owners' concerns about costs, data privacy violations, cyber security risks, and atmospheric inference issues are anticipated to stymie market expansion. On the other hand, it is anticipated that the growing acceptance of mobility-as-a-service (MaaS), 5G vehicle connectivity, and intelligent transportation system adoption will offer the market lucrative growth opportunities.
Growing concern for the security and safety of vehicles
Market Overview | |
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Forecast Period | 2025-2029 |
Market Size 2023 | USD 1.08 Billion |
Market Size 2029 | USD 3.01 Billion |
CAGR | 18.61% |
Fastest Growing Segment | Passive |
Largest Market | South India |
Vehicle Tracking System improve the overall productivity through better fleet management, resulting in a higher return on investment. One can handle more work within a given time frame with better scheduling or route planning. Vehicle Tracking System, whether used for personal or business purposes, enhances security, communication, performance monitoring, and productivity. This system has many advantages, including a large capability, a broad range of end-uses, low operating costs, effectiveness, strong expandability, and ease of use in vehicle traffic administration.
Unauthorized access hinders the market growth
Sensitive information, including the vehicle's purchase details, the owner's information, and other crucial data that the owner has stored, like various addresses, is contained in data and information that is stored in the vehicle's system. Criminal activities like carjackings, identity theft, and planned crimes can all be carried out using this information. End users' inability to use vehicle tracking systems is primarily caused by data privacy violations, especially in countries with strict regulations. Furthermore, incidents such as unauthorized access to various vehicle connectivity solutions or hacking into the in-car connectivity system can hinder demand for vehicle tracking systems.
Market Segments
India Vehicle Tracking System Market is segmented into Component, Vehicle Type, Technology, Type, End-Use, Region and Competitive Landscape. Based on Vehicle Type, the market is divided into Passenger Vehicle, Vehicle, and Commercial Vehicle. Based on Component the market is divided into Hardware, and Software. Based on Technology, the market is divided into GPS/Satellite, GPRS/Cellular Network, and Dual Modes. Based on Type, the market is divided into Active Vehicle Tracking System, and Passive Vehicle Tracking System. Based on End-Use, the market is divided into Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government & Defense, and Others
Market Players
Major market players inf India Vehicle Tracking System Market are LetsTrack, RoadPoint, Pointer Telelocations, AssetTrackr, PhoenixSecure, Loginext Solutions Private Limited, Inditrack Navigation System Private Limited, TrackingGenie, Nuevas Technologies Pvt. Ltd., Itriangle Infotech Pvt. Ltd. To achieve good market growth, businesses that are active in the market employ organic tactics such product launches, mergers, and partnerships.
Some of the government initiatives are:
Report Scope:
In this report, India Vehicle Tracking System Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Competitive Landscape:
Company Profiles: Detailed analysis of the major companies present in India Vehicle Tracking System Market
Available Customizations:
TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information: