LeapZipBlog: Steve Blade's blog: Smart Car Tracking Systems Market Expectations & Growth Trends Highlighted until 2028

Smart Car Tracking Systems Market Expectations & Growth Trends Highlighted until 2028

May 24, 2019 by Steve Blade  

With the help of the smart car tracking system, a person can ensure the security of the driver or the passengers, which is one of the key factors that is driving the growth of the smart car tracking systems market. Also, the government of some countries are taking initiatives for the implementation of smart car tracking system, which is further fueling the growth of this market. The continuous rise in demand for innovative solutions in car market are also propelling the surge in the Smart Car Tracking Systems Market.

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The smart car tracking system is a hardware device or an electronic component that is installed in the car for tracking purpose. This smart car tracking system is used to monitor and track the position of the car by using GPS (Global Positioning System) and GSM (Global System for Mobile). This smart car tracking system, with the help of GPS value, allows a person to calculate the distance with respect to time. Moreover, the distance and direction are fed into the electronic component? Microcontroller. This information is further transmitted to GSM through digital modulation techniques.

This signal is further demodulated and sent to the user’s mobile, which contains an application specifically developed for this information. The smart car tracking system can give the status of the car in defined states such as in journey, off journey, break and parked. Some of these smart car tracking system are also enabled with accident alert system, so whenever a car meets with an accident and the driver gets injured, then an alert will be sent by SMS to the driver’s family members, police station and ambulance along with the location of the accident. Moreover, these smart car tracking system are also equipped with vehicle theft control, which enables the owner to track the car if stolen. These benefits are contributing to the growth of smart car tracking systems market.

Moreover, some smart car tracking systems with real time tracking enables the user to identify some important factors such as fuel consumption, excessive speeding, engine idling and mileage. Thus, with the help of these smart car tracking system, the user can reduce the fuel consumption, which is another factor powering the growth of the smart car tracking systems market.

However, the smart car tracking system with added features is expensive and is restraining the growth of the smart car tracking systems market. Moreover, some of the smart car tracking system work on real time basis and those systems do not work without internet connectivity, which is hindering the growth of the smart car tracking systems market.

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In February 2018, CarTrack Holdings Ltd. launched a new product? Line vision system, which is an easy to use four camera video system that keeps fleet owners in visual contact with their vehicles. With the help of this system, one can access real time footage to track their vehicles, aid in improving the driver’s performance and also control costs.

The key vendors in Smart Car Tracking Systems market are AT&T Intellectual Property, Calamp Corporation, CarTrack Holdings Ltd., Comm-Port Technologies, Queclink Wireless Solutions Co., Ltd. Continental AG, Eresource ERP, Magna International Inc., Delphi Automotive LLP, Robert Bosch GmbH, Verizon, and Zonar Systems.

Geographically, the smart car tracking systems market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Middle East & Africa (MEA), and Japan.

North America is expected hold the largest share of the market during the forecast period because of the fast adoption of technology in the automotive sector. APAC is expected to exhibit high growth potential during the forecast period owing to increase in demand of smart car tracking systems in this region.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. It provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. It also maps the qualitative impact of various market factors on market segments and geographies.

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