Vehicle Tracking Device Market: Europe Region Is Expected To Grow Exponentially By 2025
Europe vehicle tracking device market is estimated to grow by over 17% during the forecast timeline. the growing number of innovations in the automobile sector has invariably contributed to the remuneration scale of Europe vehicle tracking device industry. With innovations like self-driving cars and the introduction of C-V2X (cellular vehicle – to – everything), there is a growing demand for vehicle tracking devices to facilitate safety of passengers. Several companies are introducing autonomous vehicles in Europe. For instance, the European Commission has urged the need for research and innovations of autonomous vehicles in this region.
In 2016, the Executive Agency, Trading Fund of the Cabinet Office of the United Kingdom government and Crown Commercial Service signed a vehicle telematics pact to aid public transportation to improve road safety and efficiency.
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Vehicle Tracking Device Market size is set to exceed USD 3 billion by 2025. Growth of vehicle tracking device industry share can be accredited to the emerging demand of advanced fleet management solutions for reduction of fleet operating expenditure. Large scale fleet operators are seeking solutions to remotely observe their fleet operations.
Wireless vehicle tracking devices are being increasingly used across various business verticals in the past few years owing to low power consumption and compact size. Wireless tracking devices facilitate extensive wired interface and wireless communications that easily adapt to the tracking requirements. They consist of built-in antennas and geo fencing techniques that reduce the overall size and eliminate external antennas and wires. Since wireless vehicle tracking devices are compact in size, they integrate easily into vehicles – a factor that is positively influencing vehicle tracking device industry outlook.
Vehicle tracking device market from mining sector will register CAGR of more than 20% by 2025, The demand for safe mining operations has increased as mining activities expand, which has in turn augmented vehicle tracking device industry trends. Mining firms have been keenly concentrating to improving the safety and efficiency of mines by safeguarding both mechanical and human assets. Regulations are also being mandated by governments for the safety of mining vehicles which will further augment vehicle tracking device industry share.
Vehicle tracking systems are expected to bring this number down by tracking behavior of passenger vehicle drivers. The systems also monitor sudden lane changes, acceleration, over speeding, cornering instances, harsh braking and driving under the influence of alcohols, which helps heavy commercial vehicles operating companies to reduce the number of road accidents with alerts of wrong driving practices. Heavy commercial vehicles segment in vehicle tracking device market is projected to record growth rate of over 25% BY 2025.
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Some Point from Table of Contents:
Chapter 7. Vehicle Tracking Device Market, By Communication Technology
7.1. Key trends, by communication technology
7.2. Cellular
7.2.1. Market estimates and forecast, 2014 - 2025
7.3. GPS/Satellite
7.3.1. Market estimates and forecast, 2014 – 2025
7.4. Dual mode
7.4.1. Market estimates and forecast, 2014 - 2025
Chapter 8. Vehicle Tracking Device Market, By Application
8.1. Key trends, by application
8.2. Transportation & logistics
8.2.1. Market estimates and forecast, 2014 - 2025
8.3. Construction
8.3.1. Market estimates and forecast, 2014 – 2025
8.4. Oil & gas
8.4.1. Market estimates and forecast, 2014 - 2025
8.5. Mining
8.5.1. Market estimates and forecast, 2014 – 2025
8.6. Emergency services
8.6.1. Market estimates and forecast, 2014 - 2025
8.7. Others
8.7.1. Market estimates and forecast, 2014 – 2025
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