Global Automotive Vehicle Tracking & Recovery Systems Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Increased demand for diagnostic data to improve vehicle performance

• Multipath signals can provide difficulties for GPS-based automobile vehicle tracking and recovery systems. When GPS signals reflect off surfaces such as buildings, trees, or other barriers before reaching the receiving antenna, this is known as multipath. These reflected signals can interfere with direct line-of-sight signals, resulting in GPS location errors.

Market Segmentations

• The Global Automotive Vehicle Tracking & Recovery Systems Market is segmented based on Component, Type, Vehicle, Application, Industry, and Geography.
• By Component, the market is classified into Hardware and Software.
• The software sector had the biggest revenue share and the highest CAGR. Tracking software includes features such as fleet analytics, real-time alerts for traffic and maintenance, vehicle diagnostics, driver behavior monitoring, and measuring vehicle utilization, which indicates vehicle efficiency and total cost of vehicle ownership and is driving significant growth. End users have access to data that they can examine and analyze, making it easier to maintain operational synergy, improve performance, monitor staff behavior, and reduce management costs.
• By Type, the market is classified into Active and Passive.
• With the most revenue, the active type segment led the market. The functioning of active and passive vehicle tracking systems is the same. On the other hand, the active system monitors real-time data supplied to a computer system or data analysis centre via satellite or cellular networks. The active tracking system performs all duties, but it provides easy access to tracking data and compatibility with various networks. The benefits of an active tracking system are projected to drive up demand in major market regions.
• By Vehicle, the market is classified into Commercial Vehicles and Passenger Vehicles.
• The passenger vehicle segment held the highest market share. Using a tracking system for smooth operational control by app-based transportation automobile leasing and renting businesses such as Ola, Uber, Careem, and Lyft, Inc. is driving the segment's growth. Companies can use the tracking system to collect average speed and distance traveled, number of daily trips, and idle time to increase operational efficiency and profitability.
• By Application, the market is classified into Mobile Tracking, Cellular Tracking, and Satellite Tracking.
• The Satellite segment has posted the highest market share. The spike in commercial vehicle sales and cloud technology and IoT use in healthcare, automotive, logistics, and defense can be attributed to the growth. GPS interoperability with network technologies such as WiMAX, GSM, and LTE. Furthermore, modifications in the size of the GS tracker, which has longer battery life, application, and durability, are accelerating growth.
• By Industry, the market is classified into Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government, and Other Industry.
• The transportation and logistics sector showcased the highest market share. This is described by the growing fleet size and fleet operators' use of a global positioning system for logistics and transportation tracking on a global scale.
• By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
• Americas registered the highest market share. The emergence of intelligent systems has resulted in the adoption of fleet management technology. Furthermore, there is a growing awareness of vehicle fleet and cargo technologies and growing worries about carbon emissions. The government's necessary safety standards are also fueling industry expansion.

Recent Development

• Forward-Thinking Systems collaborated with Cradlepoint to launch its first-ever 5G vehicle telematics solution, the R1900 router, for fleets of all sizes and industries. - April 2021
• Accel-KKR acquired GPS Insights LLC for an undisclosed amount. Through this acquisition, Accel-KKR intends to create a market-leading platform combining the best in fleet and field services management. GPS Insights is a US-based company that provides GPS fleet tracking software for fleet-based firms. - May 2020

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Automotive Vehicle Tracking & Recovery Systems Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Automotive Vehicle Tracking & Recovery Systems Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Automotive Vehicle Tracking & Recovery Systems Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market