A Vehicle Tracking System is a tracking technology that allows for fleet management. It is made up of a telematics device that is put in a car or truck and communicates with a GPS satellite network. It captures and transmits data about the vehicle's location, speed, and other parameters.Rising demand for GPS-based technologies, as well as increased usage of connected automobiles, are driving market expansion. Similarly, government initiatives to encourage environmentally friendly transportation are expected to boost market expansion. These policies encourage the use of electric and battery-powered vehicles and contribute significantly to global demand for these systems.
The global Vehicle Tracking System Market size was valued at US$ 9.3 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 12.32% from 2023 to 2030
Major Players in the Vehicle Tracking System Industry:
1. Trackimo Inc
Trackimo Inc founded in 2016 and its headquarters New York, New York, 10123, United States. The company operates in 20 countries.
2. Laipac Technology Inc
Laipac Technology Inc founded in 1999, and its Headquarters located in Ontario, Canada. The company operates in 100 nations.
3. Cartrack
Cartrack was launch in 2004 and it’s headquarter located Culver City, California, 90232, United States .it operate over 24 country.
4. Orbcomm Inc
Orbcomm Inc was launch in 1993 and it’s headquarter, Rochelle Park, New Jersey.it operate over 150 country.
5. Tomtom International B.V
Tomtom International B.V was founded 1888 with its headquarters in Chicago, Illinois, United States. With businesses in over 160 countries. ORBCOMM Inc., a global provider of Internet of Things (IoT) solutions, today announced the completion of its acquisition by GI Partners
6. Teltonika
Teltonika was launch in 1998. And its headquarter - Irvine, California, United States. It operate over 150 country.
7. Calamp
Calamp founded in 1981 and it’s headquarter located Denmark.It operate over 130 country. CalAmp bought telematics startup Crashboxx, a provider of a vehicle risk management system for insurance companies and fleet operators.
*Definition- A Vehicle Tracking System is an automated tracking solution that enables fleet management. It consists of a telematics device installed in a car or truck, communicating with a GPS satellite network. It collects and sends information about the vehicle's location, speed, and other data points.
