July 15, 2020

VTS Market Size| COVID-19 Impact Growth, Segments and Future Forecast To 2023

Summary

Global VTS Market Size, Report: Information by Type (Active and Passive System), by Technology [Global Navigation Satellite System (GLONASS), Global Positioning System (GPS), Connectivity Technology and others], by Propulsion (ICE and Electric Vehicle), by Vehicle Type (Passenger Car and Commercial Vehicle), by Application (Residential and Commercial) and by Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025

VTS Market Size Overview

The soaring adoption of intelligent transport systems is considered one of the primary driving factors of the VTS Market Size. The growth in fleet operations, especially in the emerging markets, is predicted to propel the revenue growth of the vehicle tracking systems market.

Competitive Dashboard

The players operating in the global VTS Market Size include Cartrack Holdings Limited (South Africa), AT&T Inc. (US), Robert Bosch GmbH (Germany), Continental AG (Germany), Spireon, Inc. (the US), Verizon

Segmental Analysis

The global VTS Market Size is segmented on the basis of type, technology, propulsion, vehicle type, and application.

By propulsion type, the market is segmented into ICE and electric vehicle.

Regional Frontiers

Geographically, the VTS Market Size spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).

Considering the global scenario, the Asia Pacific is considered to be a prominent region in the global market due to the soaring adoption of luxury and premium vehicles among consumers. The VTS Market Size in the APAC is likely to flourish due to the surging demand for automobiles, especially in Japan, China, and India. Moreover, the presence of prominent manufacturers and operating units of global players, coupled with the high availability of sophisticated technologies, will propel the regional market’s growth in the coming years.

North America will experience significant growth for the vehicles security market, mainly due to the soaring demand for new commercial vehicles, coupled with the growing number of vehicle thefts. The increasing demand for environmentally-friendly vehicles is further estimated to trigger the demand from the VTS Market Size. Moreover, the existence of industry bigshots like Spireon, Inc, Verizon Communications Inc, THE US Fleet Tracking, and Inseego Corp in Canada and the U.S. are promoting the market growth. Companies are highly embracing the latest technologies to improve the products associated with vehicle security. This will further augment the development of efficient vehicle security systems and solutions.

Industry Updates

June 2019: Zensors, a Carnegie Mellon University spinout company, involved in the development of cloud-based visual sensing systems, has recently unveiled its all-new deep learning technology, named Car Pose Net. This technology is a 3D vehicle tracking system, which uses existing camera infrastructure.

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