Smart Car Tracking Systems Market By Type (OBD Device, Standalone Tracker, Advance Tracker, Other); By Vehicle Type (Personal Vehicle, Commercial Vehicle); By Application (Transportation & Logistics, Metals & Mining, Oil & Gas, Government, Personal, Other); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032

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Smart Car Tracking Systems Market Industry Insights

The global smart car tracking systems market size was valued at around USD 15.4 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 4.7% from 2022 to 2032.The market size is projected to succeed in USD 24.5 billion by 2032.

Smart car tracking systems are solution for security & real-time tracking used for car. Smart car tracking systems can be used by for both personal and business applications. Smart car tracking system is being used by a range of organizations such as travel companies, construction companies, transport companies and others. Global smart car tracking system market is expected to surpass USD 24.5 billion by 2032, by maintaining a prominent compound annual growth rate over the projected period.

Smart Car Tracking Systems Market Insights

Growth Drivers 

Gigantic Sales of Automobiles

Driven by factors such as rising disposable income, growing middle class families and availability of finance option, sales volume of both passengers as well commercial vehicles is very strong. As income of people increases, their demand for automobiles also increases. According to the OICA, total sales of passenger as well as commercial vehicles totaled at more than 95 million units worldwide. Consumers are also spending significantly on upgradation of vehicles, to improve convenience and safety of their vehicles.

Growing Automotive Aftermarket Industry

Over the last decade, the automotive aftermarket industry has been growing remarkably parallel to automotive industry. Aftermarket operations have a very broad scope and contain all activities related to maintaining a car after its initial sale and until the end of its lifecycle. The aftermarket encompasses all parts and services purchased for light- and heavy-duty vehicles after the original sale, including replacement parts, accessories, lubricants, appearance products and service repairs. According to Automotive Aftermarket Products Expo (AAPEX), global automotive aftermarket industry has grown to USD 740 Billion. Vehicle owners are frequently visiting aftermarket for their vehicle’s upgradation. Thus, growing automotive aftermarket industry is expected to encourage the growth of smart car tracking systems in coming years.

Increasing Incidents of Car Theft

Vehicle safety is major concern among vehicle owners, Individual as well business owners are spending significantly on vehicle safety measures. Growing incidence of unfortunate accidents, car thefts and more has encourage vehicle owners to upgrade their vehicle’s safety level. For instance, In U.S alone, the total number of motor vehicle theft reached at 748,841 in 2018. Apart from this, road accidents are also at serious rise, resulting in loss of property damage. Vehicle owners are increasingly installing smart car tracking systems to track their vehicles and assure their safety. Local government ministries are also installing smart vehicle tracking systems to Keep employees accountable, to avoid overtime costs, improve safety, quick response to emergencies and lower fuel cost.

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Smart Car Tracking Systems Market Segmentation

The research offers a comprehensive analysis of Smart Car Tracking System market with respect to following sub-markets:

By Type

- OBD Device
- Standalone Tracker
- Advance Tracker
- Other

By Vehicle Type

- Personal Vehicle
- Commercial Vehicle

By Application

- Transportation & Logistics
- Metals & Mining
- Oil & Gas
- Government
- Personal
- Other

By Geography
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Smart Car Tracking Systems Market Competitive Landscape

The report profiles various major market players such as:
- Calamp Corporation
- Robert Bosch GmbH
- Continental AG
- Magna International Inc.
- Delphi Automotive LLP
- Verizon Wireless
- Zonar Systems
- Comm-Port Technologies
- CarTrack Holdings Ltd.
- AT&T Intellectual Property
- Other Major & Niche Players

Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development expansion and other market activities).

The study also provides company’s positioning and market share in Smart Car Tracking System market.

Timeline Considered for Analysis:
- 2021- Base Year
- 2022 – Estimated Year
- 2022 to 2032 – Forecasted Year

Research Scope and Deliverables

Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis

Market Segmentation Analysis:
Industry report analyzes the global Smart Car Tracking System market by the following segments:
- Type
- Vehicle Type
- Application

Geographic Market Analysis:

The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.

Key Questions Answered in the Global Smart Car Tracking System Industry Report

- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?

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  • Publication date: 5th December 2023
  • Base year: 2022
  • Forecast year: 2023-2033
  • Format: PDF, PPT,Word,Excel

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