India Vehicle Tracking System Market By Component (Hardware, Software), By Vehicle Type (Passenger Vehicle, and Commercial Vehicle), By Technology (GPS/Satellite, GPRS/Cellular Network, and Dual Modes), By Type (Active, and Passive) By End-Use (Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government & Defense, and Others), By Region, Competition Forecast and Opportun
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Vehicle Tracking System Market By Component (Hardware, Software), By Vehicle Type (Passenger Vehicle, and Commercial Vehicle), By Technology (GPS/Satellite, GPRS/Cellular Network, and Dual Modes), By Type (Active, and Passive) By End-Use (Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government & Defense, and Others), By Region, Competition Forecast and Opportun
The India Vehicle Tracking System Market is anticipated to register a high CAGR in the forecast period of 2024-2028. Vehicle Tracking System using GPS and android based smartphone is a device that can track vehicle at anywhere. A set of tools for transportation design are offered by Vehicle Tracking System, such as parking layout design and roundabout design. These tools are found at for steered vehicles, light rail vehicles, and aircraft. India Vehicle Tracking System market is anticipated to grow on account of growing need to monitor the vehicle movement. Vehicle Tracking System 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.
One of the main factors boosting the growth of the Vehicle Tracking System market is the implementation of real-time monitoring and fuel management in vehicles, as well as safety and security concerns within transportation services. Moreover, it is anticipated that during the forecast period, a rise in fleet operations will accelerate market revenue growth. But fleet owners' concerns about costs, data privacy violations, cyber security risks, and atmospheric inference issues are anticipated to stymie market expansion. On the other hand, it is anticipated that the growing acceptance of mobility-as-a-service (MaaS), 5G vehicle connectivity, and intelligent transportation system adoption will offer the market lucrative growth opportunities.
Growing concern for the security and safety of vehicles
Vehicle Tracking System improve the overall productivity through better fleet management, resulting in a higher return on investment. One can handle more work within a given time frame with better scheduling or route planning. Vehicle Tracking System, whether used for personal or business purposes, enhances security, communication, performance monitoring, and productivity. This system has many advantages, including a large capability, a broad range of end-uses, low operating costs, effectiveness, strong expandability, and ease of use in vehicle traffic administration.
Unauthorized access hinders the market growth
Sensitive information, including the vehicle's purchase details, the owner's information, and other crucial data that the owner has stored, like various addresses, is contained in data and information that is stored in the vehicle's system. Criminal activities like carjackings, identity theft, and planned crimes can all be carried out using this information. End users' inability to use vehicle tracking systems is primarily caused by data privacy violations, especially in countries with strict regulations. Furthermore, incidents such as unauthorized access to various vehicle connectivity solutions or hacking into the in-car connectivity system can hinder demand for vehicle tracking systems.
Market Segments
India Vehicle Tracking System Market is segmented into Component, Vehicle Type, Technology, Type, End-Use, Region and Competitive Landscape. Based on Vehicle Type, the market is divided into Passenger Vehicle, Vehicle, and Commercial Vehicle. Based on Component the market is divided into Hardware, and Software. Based on Technology, the market is divided into GPS/Satellite, GPRS/Cellular Network, and Dual Modes. Based on Type, the market is divided into Active Vehicle Tracking System, and Passive Vehicle Tracking System. Based on End-Use, the market is divided into Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government & Defense, and Others
Market Players
Major market players inf India Vehicle Tracking System Market are LetsTrack, RoadPoint, Pointer Telelocations, AssetTrackr, PhoenixSecure, Loginext Solutions Private Limited, Inditrack Navigation System Private Limited, TrackingGenie, Nuevas Technologies Pvt. Ltd., Itriangle Infotech Pvt. Ltd. To achieve good market growth, businesses that are active in the market employ organic tactics such product launches, mergers, and partnerships.
Some of the government initiatives are
- The Indian government has made it mandatory for all vehicles manufacturedon or after September 1st 2022 and used to transport dangerous andhazardous goods to install approved vehicle tracking devices.
- Government of Haryana launched a Vehicle Movement Tracking System (VMTS) mobileapp to track the vehicles carrying sand and other mining material. The app isused at different checkpoints in all the districts of Haryana. All vehicledetails including vehicle type, vehicle number, moving from, moving to, anddriver details will be stored in it.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | Component Vehicle Type Technology Type End-Use |
| Regional scope | East India, West India, North India, South India |
| Key companies profiled | LetsTrack, RoadPoint, Pointer Telelocations, AssetTrackr, PhoenixSecure, Loginext Solutions Private Limited, Inditrack Navigation System Private Limited, TrackingGenie, Nuevas Technologies Pvt. Ltd., Itriangle Infotech Pvt. Ltd. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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