Vehicle Tracking System Market Worth $109.95 Billion by 2030

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Vehicle Tracking System Market
The spread of the COVID-19 pandemic has
negatively impacted the global vehicle tracking
system market, owing to commute restrictions and
expected weak financial performance of the market
players in 2020. The economic impact of the
pandemic is visible with organizations preparing
strategic cost-saving plans. Organizations with
vehicle assets are considering sale and leaseback
options to improve cash flow. The major risk
factors of the vehicle tracking system
participants are supply chain execution,
regulatory policy changes, dependency on labor,
working capital management, and liquidity
solvency management. Although, FMCG, retail,
agriculture pharmaceuticals, and other essential
services provider are not being able to dispatch
the stored products owing to the fewer number of
transporters. To manage and cater to the
continuous supply of essentials, the demand for
vehicle tracking hardware and managing software
increased.
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Vehicle Tracking System Market
The global vehicle tracking system market was
valued at 17.37 billion in 2020, and is
projected to reach 109.95 billion by 2030,
registering a CAGR of 19.7 from 2021 to
2030. Vehicle tracking system is a system that
used global positioning system (GPS) or cellular
network to track and monitor the activity of
vehicle. It includes vehicle tracking
monitoring remotely, vehicle maintenance, vehicle
diagnostics, fuel management, route optimization,
driver management and safety management. The
vehicle tracking systems work in a loop of GPS,
GSM/GPRS, digital maps, and special software.
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Vehicle Tracking System Market

• Key Benefits For Stakeholders
• This study presents analytical depiction of the
  global vehicle tracking system market analysis
  along with current trends and future estimations
  to depict imminent investment pockets.
• The overall vehicle tracking system market
  opportunity is determined by understanding
  profitable trends to gain a stronger foothold.
• The report presents information related to the
  key drivers, restraints, and opportunities of the
  global vehicle tracking system market with a
  detailed impact analysis.
• The current vehicle tracking system market is
  quantitatively analyzed from 2020 to 2030 to
  benchmark the financial competency.
• Porters five forces analysis illustrates the
  potency of the buyers and suppliers in the
  industry.

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Vehicle Tracking System Market

• Major Companies
• ATT Inc
• Cartrack Holdings Limited
• Continental AG
• ROBERT BOSCH GMBH
• VERIZON COMMUNICATION INC
• SPIREON INC
• GEOTAB INC
• INSEEGO CORP
• TOMTOM, INC
• TELETRAC NAVMAN US LTD

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Vehicle Tracking System Market
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