Which segment accounted for the largest vehicle tracking system market share?

The North American region has registered the highest market share of 32.7% in 2022 and is expected to maintain the growth pace over the forecast period. The mandatory norms over safety norms by the government are driving the market growth.

Who are the key players in the vehicle tracking system market?

Some key players operating in the vehicle tracking system market include Verizon Communications, Inc., Sierra Wireless, Inc., TomTom International B.V., Cartrack (Pty) Ltd, AT&T Inc., ORBCOMM INC; Calamp Corp, and Geotab Inc., among others.

What are the factors driving the vehicle tracking system market?

Key factors driving the vehicle tracking systems market growth include rising security and safety concerns among passengers and fleet owners coupled with increased demand for intelligent transportation systems.

How big is the vehicle tracking system market?

The global vehicle tracking system market size was estimated at USD 21.54 billion in 2022 and is expected to reach USD 24.18 billion in 2023.

What is the vehicle tracking system market growth?

The global vehicle tracking system market is expected to grow at a compound annual growth rate of 14.1% from 2023 to 2030 to reach USD 60.89 billion by 2030.