Global Automatic Vehicle Location System Market Size, Price,...

Global Automatic Vehicle Location System Market Size, Price, Outlook, Report, Forecast 2022-2027

Posted 2022-11-07 10:17:46

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The new report by Expert Market Research titled, ‘Global Automatic Vehicle Location System Market Share, Size, Trend, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global automatic vehicle location system market, assessing the market based on its segments like type, solution and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Forecast Historical Market Size (2021): USD 19.9 billion
• Forecast CAGR (2022-2027): 13%
• Forecast Market Size (2027): USD 36.6 billion

The requirement for enhanced operating performance, profitability, and sustainability at lower costs, along with vehicle modernization, is expected to be a significant driving factor for market growth. Predictive fleet maintenance, telematics asset tracking, and fleet route planning are all elements of these systems. These characteristics allow for the most efficient use of resources and greater operational adaptability.

Furthermore, advantages such as higher cost reductions and increased customer satisfaction are adding to market demand. Cost savings from improved vehicle performance, as well as new features like fleet analytics, fuel management, driver monitoring, and predictive vehicle maintenance, are expected to boost the market. These factors are expected to drive the market for global automatic vehicle location systems during the forecast period.

Industry Definition and Major Segments

An automated vehicle locator (AVL) is a gadget that tracks the location of a corporation’s or government agency’s large fleet through the Internet using the Global Positioning System (GPS). To enhance fleet management and service, these gadgets combine GPS technology, cellular connectivity, street-level mapping, and a simple user interface.

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By product type, the market is divided into:

• Direction Finding
• Signpost Systems
• GPS Based

By solution, the market is divided into:

• Asset Tracking, Vehicle Tracking
• Stolen Vehicle Recovery (SVR)
• Fleet Management
• Parking Habits

By region, the industry is categorized into:

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa

Market Trends

With the development of the e-commerce industry in the worldwide market, North America has accounted for a sizable part of the global vehicle tracking system market. E-commerce has aided the need for commercial vehicles by increasing the demand for logistics solutions. Because of the rising demand for passenger vehicles, the market for vehicle locating systems in North America is increasing.

Rising demand for electric passenger vehicles is expected to drive market growth in this area, owing to more disposable income, increased environmental consciousness, and improved living standards. The increasing adoption of sophisticated vehicle tracking technology, as well as an increase in passenger and driver safety, are projected to fuel market growth further.

During the forecast period, the automatic vehicle location system market in the Asia-Pacific region is expected to grow significantly. This is due to the rising GDP and per capita income, which are both contributing to the modernization of the automotive sector and, as a result, the development of the global automatic vehicle location system market. Rising car sales in developing nations like China and India, as well as the fast growth of the e-commerce industry, are driving the regional market.

Vehicle locating systems are likely to become more popular as the number of commercial vehicles grows as a result of increasing economic activity. The introduction of ridesharing and rental automobile businesses in emerging regions is expected to accelerate industry growth even further. These reasons have aided the growth of the global automatic vehicle location system market as a whole.

Key Market Players

The major players in the market are Atlanta Systems Private Limited, Descartes, C3LS, Reveon Technologies Corp., Global Tracking Group, Datum Tracking Group, and Power System Engineering, Inc., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.