Passenger Cars to Lead India Vehicle Tracking Market During Forecast Period
Strict regulatory norms for implementation and usage of
vehicle tracking to drive vehicle India tracking market during forecast period
According
to TechSci Research report, “India Vehicle Tracking
Market By Vehicle Type, By
Technology, By Application, Competition, Forecast & Opportunities, 2024”, India vehicle
tracking market is anticipated to witness a growth of over 15.7% during
forecast period on account of growing need for monitoring the movement of the
automobiles carrying goods and passengers. Moreover, increasing concerns
pertaining to the security and safety of the vehicle and surging vehicles sales
and production, the market is poised to grow at an impressive rate during the
forecast period. Additionally, increasing vehicular theft and surging
investment by the National Highway Authority of India (NHAI) for improving and
expanding the roads, is anticipated to positively influence the growth of the
market over the next five years.
Browse 3 market data
Tables and 19 Figures spread through 110 Pages and an in-depth TOC on "India
Vehicle Tracking Market "
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India
vehicle tracking market can be segmented based on vehicle type, technology,
application and region. In terms of vehicle type, the market can be segmented
into passenger car, commercial vehicle and two-wheeler. Passenger cars segment
dominated the market in 2018 and the trend is anticipated to continue during
forecast period as well due to increasing ownership of passenger cars in the
country. Vehicle tracking technology finds applications in various verticals
including private cars, transport & logistics, fleet management, among
others. Fleet management is one of the major segments of the market as it
offers route planning, real-time monitoring, automobile safety, along with
various other features.
LetsTrack, RoadPoint, Pointer Telelocations, AssetTrackr,
PhoenixSecure, Loginext Solutions Private Limited, Inditrack Navigation System
Private Limited, TrackingGenie, Nuevas Technologies Pvt. Ltd., Itriangle
Infotech Pvt. Ltd., among others are the leading players operating in India vehicle
tracking market. Companies operating in the market are using organic strategies
such as product launches, mergers and collaborations to boost their share.
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“India vehicle tracking market is expected to grow at a brisk rate during
forecast period owing to surging vehicle sales in the country. Moreover,
mandate by the Ministry of Road, Transport and Highways, for upgrading all new
public transport vehicles with vehicle location tracking and panic buttons from
1st January 2019 onwards, is further pushing demand for vehicle
tracking systems across the country.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India Vehicle Tracking Market By Vehicle Type, By
Technology, By Application, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India vehicle
tracking market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India vehicle tracking
market.
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