United States Vehicle Tracking System Market Forecast 2022-2028

United States Vehicle Tracking System Market Forecast 2022-2028

KEY FINDINGS

The United States vehicle tracking system market is set to rise with a CAGR of 15.22% across the forecasting period. While the base year regarded for the studied market is 2021, the forecast years are from 2022 to 2028. The market growth of the country is driven by the rising number of automobiles, as well as the increasing demand for vehicle tracking systems owing to inter-state traveling.

MARKET INSIGHTS

As per the United States Department of Transportation, as of 2020, the country housed and utilized more than 8 million automobiles and trucks in fleets. Furthermore, statistics also state that in the same year, the country had approximately 276 million registered vehicles. While the increasing demand for vehicles propels the country’s need for vehicle tracking systems, recently, the trend of electric vehicles and smart devices equipped vehicles are observing a significant rise, as well. In this regard, GPS is a critical service and feature in an automobile that is heavily demanded by customers.

Furthermore, in the United States, individuals travel inter-state using their personal automobiles, and as a result, vehicle tracking systems are highly essential for users. Therefore, these factors are anticipated to play a crucial role in proliferating the demand for vehicle tracking systems, thus promoting the market growth in the United States during the forecast years.

COMPETITIVE INSIGHTS

The top companies operating in the market are Xirgo Technologies LLC, Verizon Communications Inc, Inseego Corp, 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