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Vehicle Tracking Device Market Share

Report ID: GMI193
Published Date: Oct 2023
Report Format: PDF

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Vehicle Tracking Device Market Share

Major companies operating in the vehicle tracking device industry are:

AT&T Intellectual Property
Continental AG
Geotab Inc
Robert Bosch GmbH
Sierra Wireless
TELTONIKA
TomTom International BV
Verizon

Dominating companies in the vehicle tracking device industry have garnered around 12% of the market share. Moreover, these companies competed in component wide range of products and software. They excel in AI-based solutions and advanced fleet management technologies, component innovative, real-time tracking & intelligent analytics for optimized operations. Moreover, companies invested heavily in research and development to introduce innovative solutions.

Authors: Preeti Wadhwani, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of the vehicle tracking device reached USD 28.6 billion in 2022 and is set to witness over 15% CAGR between 2023 and 2032, due to the rising incidences of vehicle theft worldwide.

The commercial vehicle segment held over 58% of the market share in 2022, owing to the growing need for efficient fleet management.

North America market size was valued at USD 9.7 billion in 2022, attributed to the convergence of tracking devices with IoT for seamless communication and data exchange between vehicles & other connected devices.

Some of the key vehicle tracking device firms are AT&T Intellectual Property, Continental AG, Geotab Inc., Robert Bosch GmbH, Sierra Wireless, TELTONIKA, TomTom International BV, and Verizon.