Global Automatic Vehicle Location System Market Report and Forecast 2024-2032

Global Automatic Vehicle Location System Market Outlook

The global automatic vehicle location system market reached a value of about USD 25.41 billion in 2023. The industry is further expected to grow at a CAGR of about 13% in the forecast period of 2024-2032.

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North America and Asia Pacific to be Significant Regional Markets for Automatic Vehicle Location System

With the e-commerce industry's expanded penetration in the global market, North America has been accounting for a significant share of the global vehicle location system market. The rising demand for logistical solutions has been aiding the demand for commercial vehicles through e-commerce. The market for vehicle locating systems in North America is growing due to increased demand for passenger automobiles. Rising demand for electric passenger vehicles is predicted to fuel the market expansion in this region, owing to higher disposable income, environmental awareness, and improved living standards. The rapid adoption of advanced technologies for tracking vehicles and the rise in passenger and driver safety are further expected to propel market growth.

The Asia Pacific is expected to witness significant growth during the forecast period. This is because the GDP and per capita income are increasing significantly, contributing to the growth of the automotive industry and, in turn, the development of this market. The regional market is being driven by rising vehicle sales in developing countries, like China and India, along with the rapid expansion of the e-commerce sector. The demand for vehicle location systems is expected to rise as the number of commercial vehicles increases due to increased commercial activity. The advent of ridesharing and rental car companies in emerging markets is projected to drive industry growth even more.

Automatic Vehicle Location System: Market Segmentation

An automatic vehicle locator (AVL) is a device that uses the Global Positioning System (GPS) to track the whereabouts of a company's or government agency's fleet of vehicles over the Internet. These devices integrate GPS technology, cellular connections, street-level mapping, and a simple user interface to improve fleet management and customer service.

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By type, the market includes: 

• Direction Finding
• Signpost Systems
• GPS Based

Based on solution type, the market is segmented into: 

• Asset Tracking, Vehicle Tracking
• Stolen Vehicle Recovery (SVR)
• Fleet Management
• Parking Habits

The regional markets for the automatic vehicle location system industry can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

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Increase in Fleet Operations Boosting the Market Growth

The major drivers driving the revenue growth of the global automatic vehicle location system markets include the increase in fleet operations in developing regions and the safety and security concerns in transportation services. The market is expected to rise further due to an increasing number of advanced vehicle security technologies, government-enforced regulations, and the deployment of intelligent transportation systems. However, the failure of electrical components utilised in these systems, the risk of cybersecurity, and the high prices associated may limit the market's growth. The need for improved operational efficiency, productivity, and profitability at reduced costs, coupled with the digitalisation of vehicles, rising urbanisation, are anticipated to act as key driving factors for market growth. Predictive fleet maintenance, telematics asset tracking, and fleet route planning are all included in these systems. Increased cost reductions and improved client experience are also driving the market demand. Moreover, as transportation and logistics businesses' fleet sizes have grown, fleet tracking has become essential for vehicle security and timely delivery. The significant growth in commercial vehicle sales is likely to fuel the demand for the global automatic vehicle location system industry.

Key Industry Players in the Global Automatic Vehicle Location System Market

The report gives a detailed analysis of the following key players in the global automatic vehicle location system industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:  

• Atlanta Systems Private Limited
• Descartes
• C3LS
• Reveon Technologies Corp.
• Global Tracking Group  
• Datum Tracking Group
• Power System Engineering, Inc.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report