VEHICLE TRACKING SYSTEM MARKET ANALYSIS

Regional Analysis

Global Vehicle Tracking System Market: Regional Insights

The global tracking system market is anticipated to show substantial growth in North America region, owing to increase in concerns regarding safety, security and emissions of vehicles, which are further significantly influencing transportation industry. Moreover, governments of countries in this region have acknowledged these concerns and consequently are getting involved in development of safety programs and introduction of stringent regulations. For instance, the government of the U.S. developed a program called ‘National Safety Program’ for the General Services Administration fleet. These factors are thus driving growth of the global vehicle tracking system market across the region.

Furthermore, among other regions, Asia Pacific is also projected to gain major growth in the global vehicle tracking system market over the forecast period. The growth of this region can be attributed to increasing technological developments in networking, rapidly expanding e-commerce sector, stringent regulatory mandates by governments of countries across the region, and growing sales of vehicles in the region. Moreover, the regions is also witnessing rise in adoption of advanced technologies such as autonomous vehicles, IoT, cloud, and mobility solutions, which is further anticipated to fuel growth of the global vehicle tracking system market over the forecast period.

Figure 1: Global Vehicle Tracking System Market Share (%), By Region, 2022

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa