India vehicle tracking market stood
at $ 185.7 million in 2018 and is projected to grow at a CAGR of over 15.7% to
reach $ 432 million by 2024 on account of growing need to monitor the vehicle
movement. Global vehicle tracking market was valued at over $ 4 billion in 2018
and is poised to grow at double-digit CAGR during the forecast period. Vehicle
tracking technology also helps to improve the efficiency by providing shorter
route, traffic and other details. Moreover, regulatory norms for the
installation of vehicle tracker on new public transport starting from 1st
January 2019 and launch of Indian Regional Navigation Satellite System (IRNSS)
for accurate real-time positioning are further positively influencing the
growth of the market.
India vehicle tracking market can
be segmented based on vehicle type, technology, application and region. On the
basis of vehicle type, the market can be segmented into passenger car,
commercial vehicle and two-wheeler. Passenger car segment dominates the market
on account of high sales, however, commercial vehicle segment is expected to
grow at an impressive rate during forecast period on account of increasing use
of commercial vehicle for the movement of goods and vehicle tracking technology
provides real-time tracking. On the basis of technology, the market can be
bifurcated into mobile tracking and satellite tracking. Satellite tracking is a
widely adopted technology and acquired the major share in 2018, as it is the
most economical option when compared with other technologies. In terms of
application, the market can be segmented into private cars, transport &
logistics, fleet management and others. Transport & logistics application
segment is anticipated to witness the fastest growth during forecast period as
it is leveraging the power of internet and tracking to monitor the vehicles.
Regionally, the market for vehicle
tracking is gaining traction. In terms of regional analysis, the market can be
segmented into north region, south region, east region and west region. West
region is anticipated to grow at a fast pace during forecast period on account
of high penetration of internet and significant smartphone user base in the
region.
Major players operating in India
vehicle tracking market include LetsTrack, RoadPoint,
Pointer Telelocations, AssetTrackr, PhoenixSecure, Loginext Solutions Private
Limited, Inditrack Navigation System Private Limited, TrackingGenie, Nuevas
Technologies Pvt.Ltd., Itriangle Infotech Pvt. Ltd., etc. Major companies
are developing advanced technologies and launching new products in order to
stay competitive in the market. Other competitive strategies include mergers
& acquisitions and new product developments.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyze and forecast the market size of India
vehicle tracking market.
- To classify and forecast India vehicle
tracking market based on vehicle type, technology, application and regional
distribution.
- To identify drivers and challenges for India vehicle
tracking market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in India
vehicle tracking market.
- To conduct pricing analysis for India vehicle
tracking market.
- To identify and analyze the profile of leading
players operating in India vehicle tracking market.
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Some of the leading players in India vehicle tracking
market include
LetsTrack, RoadPoint, Pointer Telelocations, AssetTrackr, PhoenixSecure,
Loginext Solutions Private Limited, Inditrack Navigation System Private
Limited, TrackingGenie, Nuevas Technologies Pvt. Ltd., Itriangle Infotech Pvt.
Ltd., etc.
TechSci Research performed both primary as well as
exhaustive secondary research for this study. Initially, TechSci Research
sourced a list of service providers across the country. Subsequently, TechSci
Research conducted primary research surveys with the identified companies.
While interviewing, the respondents were also enquired about their competitors.
Through this technique, TechSci Research could include the service providers which
could not be identified due to the limitations of secondary research. TechSci
Research analyzed the service offerings, distribution channels and presence of all
major service providers across India.
TechSci Research calculated the market size of India vehicle tracking market using a bottom-up approach, where data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Original equipment
manufacturers
- Research organizations and
consulting companies
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to Vehicle Tracking market
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as service providers and partners, end users, etc., besides allowing them
in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, India vehicle
tracking market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Market, By Vehicle Type:
- Passenger Car
- Commercial Vehicle
- Two-Wheeler
- Market, By Technology:
- Satellite Tracking
- Mobile Tracking
- Market, By Application:
- Fleet management
- Transport & Logistics
- Private Cars
- Others
- Market, By Region:
- North Region
- South Region
- West Region
- East Region
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in India vehicle tracking market.
Available
Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
In case you don’t find what
you are looking for, please get in touch with our custom research team at sales@techsciresearch.com
In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com