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Global vehicle tracking system market growth is driven by increasing automotive production worldwide

The global vehicle tracking system market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing automotive production capacity, coupled with stringent governments regulations is expected to drive demand for automobiles over the forecast period. Moreover, rising safety and security awareness, increasing need for monitoring the automobile movement carrying both passengers as well as goods, are some driving factors fueling demand for vehicle tracking system.

The global vehicle tracking system market report has been segmented on the basis of product, vehicle type, end-user and region.

On the basis of product, the target market is segmented into wired and wireless. The wireless segment is expected to dominate the global market owing to their easy portability and compact size. Regular technological advancements such as enhanced satellite view and mobile tracking are pushing the customers to increasingly adopt these devices.

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On the basis of vehicle type, the target market is segregated into commercial vehicle and passenger vehicle. The passenger vehicles segment accounts for the largest revenue share of the global market currently due to increasing demand for transportation of goods and passengers together with rising construction activities.

On the basis of end-user, the global market is classified into transportation & logistics, metals & mining, and construction. The transportation & logistics segment is estimated to be the largest revenue contributing segment in the target market.

Based on region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America vehicle tracking market is estimated to capture the highest volume share over the forecast period. Also, presence of key automobile manufacturers along with technology providers across the region will primarily contribute to the revenue generation. Furthermore, market in Asia Pacific is expanding at a rapid CAGR due to the expansion of logistics and fleet management industries.

Key players operating in the global vehicle tracking system market include: AT&T Intellectual Property, CarTrack, Comm-Port Technologies, Continental AG, Delphi Automotive LLP, Eresource ERP, Magna International Inc., Robert Bosch GmbH, Verizon, and Zonar Systems

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