Strict regulatory norms for
implementation and usage of vehicle tracking to drive vehicle India tracking
market during forecast period
According
to TechSci Research report, “India Vehicle Tracking Market By Vehicle Type, By
Technology, By Application, Competition, Forecast & Opportunities, 2024”, India
vehicle tracking market is anticipated to witness significant growth during
forecast period on account of growing need for monitoring the movement of the
automobiles carrying goods and passengers. Moreover, increasing concerns
pertaining to the security and safety of the vehicle and surging vehicles sales
and production, the market is poised to grow at an impressive rate during the
forecast period. Additionally, increasing vehicular theft and surging
investment by the National Highway Authority of India (NHAI) for improving and
expanding the roads, is anticipated to positively influencing the growth of the
market over the next five years.
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India Vehicle Tracking
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India
vehicle tracking market can be segmented based on vehicle type, technology,
application and region. In terms of vehicle type, the market can be segmented
into passenger car, commercial vehicle and two-wheeler. Passenger cars segment
dominated the market in 2018 and the trend is anticipated to continue during
forecast period as well due to increasing ownership of passenger cars in the
country. Vehicle tracking technology finds applications in various verticals
including private cars, transport & logistics, fleet management,
construction, among others. Fleet management is one of the major segments of
the market as it offers route planning, real-time monitoring, automobile safety,
along with various other features.
LetsTrack, RoadPoint, Pointer Telelocations, AssetTrackr,
PhoenixSecure, Loginext Solutions Private Limited, Inditrack Navigation System
Private Limited, TrackingGenie, Nuevas Technologies Pvt.Ltd., Itriangle
Infotech Pvt. Ltd., Trimble Mobility Solutions, among others are the leading
players operating in India vehicle tracking market. Companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations to boost their share.
“India vehicle tracking market is expected to
grow at a brisk rate during forecast period owing to surging vehicle sales in
the country. Moreover, mandate by the Ministry of Road, Transport and Highways,
for installing all new public transport vehicles with vehicle location tracking
and panic buttons from 1st January 2019 onwards, is further pushing
demand for vehicle tracking systems across the country.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Vehicle Tracking Market By Vehicle Type, By
Technology, By Application, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India vehicle
tracking market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India vehicle tracking
market.
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