Asia-pacific Vehicle Tracking System Market Forecast 2022-2030

Asia-pacific Vehicle Tracking System Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific vehicle tracking system market is projected to progress with a CAGR of 16.10% during the forecasting period of 2022 to 2030. The market growth of the region is accredited to the rising transportation, logistics, and fleet activated in the Asia-Pacific, in addition to the rapidly-growing automotive sector.

MARKET INSIGHTS

The Asia-Pacific vehicle tracking system market growth assessment covers the analysis of Vietnam, China, Japan, India, South Korea, Indonesia, Thailand, Australia & New Zealand, and Rest of Asia Pacific. As per the Korea Automobile Manufacturers Association (KAMA), South Korea manufactured over 3.4 million units of vehicles in 2021, thus positioning itself as the fifth-largest producer, worldwide. Moreover, key players like GM Korea, Kia, and Hyundai primarily dominate the domestic market. The South Korean government also prioritizes the automotive industry since it is a vital part of the national economy. Hence, such segments are a lucrative option for the application of vehicle tracking systems.

Similarly, Indonesia’s automotive industry is a major pillar in terms of manufacturing, as various international automotive players have their manufacturing plants in the country. Moreover, these companies are also augmenting their production capacity in Southeast Asia’s largest economy. Indonesia has transformed notably as the nation moved from an export-oriented car manufacturing hub to a substantial domestic car sales market owing to the rising per capita gross domestic product (GDP). As a result, these factors are expected to provide the vehicle tracking system market in the Asia-Pacific with several growth opportunities during the estimated period.

COMPETITIVE INSIGHTS

Some of the leading companies operating in the market are Concox Information Technology Co Ltd, Verizon Communications Inc, etc.

Our report offerings include:

• Explore key findings of the overall market

• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)

• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions

• Market Segmentation caters to a thorough assessment of key segments with their market estimations

• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share

• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.

• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.

• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments