The size of vehicle tracking device market was registered at USD 600 million in the year 2018 and is anticipated to cross USD 3 billion by 2025. Between the period 2019-2025, the market is expected to register a CAGR of 20%.

Rising demand for fleet management in logistics and transportation industries is driving the vehicle tracking device market size. Fleet operators are switching to tracking solutions to monitor the fleet operations. Vehicle tracking systems enable fleet operators to keep a track of various factors, including fuel consumption, engine parameters, driver’s behavior, etc. These systems are hugely benefitting the logistics and transportation companies, as they reduce the total cost of ownership by augmentation of uptime, safety and mobile device visibility.

Get sample copy of this research report @  https://www.decresearch.com/request-sample/detail/193

Owing to the growth in incidences of road accidents on highways, vehicle tracking device industry will garner significant profits through extensive product application on HCVs over the years to come. As per the World Health Organization’s (WHO) global status report on road safety, the incidences of road traffic deaths reached 1.35 million in the year 2018.

Vehicle tracking system observes driving behavior such as sudden lane changes, over speeding, harsh braking, acceleration, driving under alcohol influence and cornering instances. These observations help HCV-operating firms to decrease the number of road accidents via warnings regarding wrong driving habits. HCV segment has been forecast to garner 25% of overall vehicle tracking device market share growth by 2025.

The demand for safe mining operations has increased as mining activities expand, which has in turn augmented vehicle tracking device industry trends. Mining firms have been keenly concentrating to improving the safety and efficiency of mines by safeguarding both mechanical and human assets. Regulations are also being mandated by governments for the safety of mining vehicles which will further augment vehicle tracking device industry share.

The fleet management systems enable mining companies to track the location of vehicles to prevent thefts and while increasing efficiency. Government authorities are also imposing regulations for the safety of mining vehicles. The mining sector is estimated to contribute substantially to the growth in vehicle tracking device market, to register CAGR of over 20% over the forecast timespan, due to high demand for safer mining operations.

Europe is projected to register a major vehicle tracking device market share by 2025 due to the advancements being made in technology in the automotive sector such as C-V2X and autonomous driving technology. There have been several notable investments made by various government authorities in the region to promote the development of autonomous vehicles.

For instance, in June 2018, the Centre for Connected and Autonomous Vehicles (CCAV), a subdivision of the UK Department for Transport and Department of Business working for the development of connected and driverless vehicles, has reportedly announced almost $29 million loans for advancement, presentation and trials of autonomous and connected vehicle technologies. Such investments have helped to accelerate the development of autonomous vehicles in Europe. Autonomous vehicles have been apparently leveraging vehicle tracking systems for safe and accurate mobility thus strengthening vehicle tracking device market forecast for 2019-2025.

Major companies operating in the vehicle tracking systems market include CalAmp Corporation, ATrack Technology Inc., Cartrack (Pty) Ltd., Garmin Ltd., Concox Information Technology Co., Ltd., Geotab Inc., Maestro Wireless Solutions Limited, and Laird PLC.

 Get This Report Customized To Your Requirements@  https://www.decresearch.com/roc/193

Some Point from Table of Contents:

Chapter 6. Vehicle Tracking Device Market, By Vehicle Type

6.1. Key trends, by vehicle type

6.2. Passenger Vehicle (PV)

6.2.1. Market estimates and forecast, 2014 – 2025

6.3. Light Commercial Vehicle (LCV)

6.3.1. Market estimates and forecast, 2014 – 2025

6.4. Heavy Commercial Vehicle (HCV)

6.4.1. Market estimates and forecast, 2014 – 2025

Chapter 7. Vehicle Tracking Device Market, By Communication Technology

7.1. Key trends, by communication technology

7.2. Cellular

7.2.1. Market estimates and forecast, 2014 - 2025

7.3. GPS/Satellite

7.3.1. Market estimates and forecast, 2014 – 2025

7.4. Dual mode

7.4.1. Market estimates and forecast, 2014 - 2025

Browse complete Table of Contents (ToC) of this research report @

https://www.decresearch.com/toc/detail/vehicle-tracking-market