Global Vehicle Information System Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), By End Use (Transportation & Logistics, Construction & Manufacturing, Aviation, Retail, Government & Defense), Technology Type (GPS/Satellite, GPRS/Cellular Network, Dual Modes) and by Region (North America, Europe, Asia-Pacific, South America, Middle East, and Africa) Analysis and Forecast 2022-2030

Key Market Insights

The Global Vehicle Information System market is estimated to be valued at USD 19.38 Billion in 2021 and is expected to reach USD 62.53 Billion by 2030 at a CAGR of 13.9%. A vehicle information system is a system that is used with a global positioning system (GPS) or cellular network to track and monitor the location of a vehicle. The market is expanding as a result of factors such as the rising adoption of cutting-edge technology and rising consumer concerns over the security and safety of their vehicles.

The increase in product demand has been fueled by the expansion of fleet operations in developing countries along with laws requiring the installation of vehicle monitoring systems for both passengers as well as commercial vehicles. Additionally, the industry is expanding as a result of the increasing use of car leasing and rental services, which has forced rental businesses to incorporate monitoring devices to improve their services.

COVID-19 ANALYSIS:

In early 2020, the COVID-19 crisis brought unprecedented challenges for businesses across the globe. Governments had imposed lockdown and social segregation laws globally to curb the spread of the virus. Industries including the automobile sector were compelled to stop production, assembly, and manufacturing across Europe, America, and Asia as a result of the lockdowns.

The demand for passenger and commercial automobiles was significantly impacted by the lockdown as well. Low demand for the product had an effect on both the software and hardware development of vehicle tracking systems. The demand for cars increased in 2021 when the lockdown mandates were lifted as a result of COVID-19's diminishing effects, which ultimately increased the need for vehicle monitoring system technologies.

Although, the supply chain for semiconductor chips was interrupted in response to the rise in demand. The semiconductor chips are essential to the vehicle tracking system, regardless of the type of vehicle. The lack of semiconductor chips caused a delay in the production schedule. As a result, the pandemic & the frequent disruptions to the supply chain and production limited the market's expansion for vehicle tracking systems.

Growth of the Smartphone Industry Increasing Demand for Vehicle Information Systems

Along with rising smartphone sales, the increased integration of smartphones with in-car entertainment systems will give OEMs a significant opportunity to offer affordable options across all car segments, which is anticipated to propel the growth of the vehicle information system market. Moreover, vehicles are able to connect with one another with the help of the cloud for updated traffic data and maps to prevent accidents. Although cloud technology for automobiles is not new, it is advancing rapidly due to collaboration and partnerships between the automotive and software industries.

Increase in Monitoring Device Installations Propels Market Growth

Fleet management businesses and government agencies have initiated the installation of monitoring devices in vehicles to monitor their position and speed due to the rising count of traffic accidents. Additionally, market growth is predicted to be fueled by the growing adoption of intelligent transportation systems and the arrival of 5G in-vehicle connectivity. The demand for advanced and common vehicle tracking systems is expected to increase during the forecast period along with an increasing desire for autonomous and semi-autonomous cars.

Concerns Pertaining to Cybersecurity Threats To Hamper Market Growth

Data privacy breaches are some of the major reasons why customers are reluctant to utilize vehicle information systems, especially in China and North American countries where regulations are strict. In addition, there have been instances where individuals have illegally accessed various vehicle networking options or broken into in-car connectivity systems. The key security concern is that the vehicle's computer system and the data it collects can both be easily accessible to the hacker. On the account of data privacy violations and cyber security issues related to car monitoring systems, the industry is projected to grow slowly.

Segment Insights:

Based on the vehicle type, the market is categorized into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Based on the end use, the market is categorized into transportation & logistics, construction & manufacturing, aviation, retail, government & defense. Based on the technology type, the market is categorized into GPS/Satellite, GPRS/Cellular Network & Dual Modes. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Regional Insights:

North America is expected to dominate the market share during the forecast period. Technologies for fleet management have been adopted as a result of the development of intelligent systems. Additionally, rising concerns about carbon emissions and increasing knowledge of cargo and fleet technology are likely to contribute to the market growth. The government's obligatory safety standards are another factor in the market's expansion.
 
The Asia Pacific is expected to be a fast-growing region of the vehicle information system market throughout the projection period. The market is anticipated to expand owing to a number of factors, such as technological advancements in networking, an increase in the sales of commercial and passenger vehicles, strict governmental regulations, the growing popularity of e-commerce in the region, and rising trade activities. Additionally, the market is expanding as a result of the region's growing embrace of technologies including cloud, IoT, linked autos, & autonomous vehicles.

List of Key Companies Profiled: 

• CONCOX
• CONTINENTAL AG
• GEOTAB INC
• INSEEGO CORP
• ORBCOMM INC
• ROBERT BOSCH GMBH
• SAMSARA INC
• SIERRA WIRELESS INC
• SOLERA INC
• TOMTOM NV
• TRACKIMO
• VERIZON COMMUNICATIONS INC
• XIRGO TECHNOLOGIES LLC
• CALAMP CORPORATION
• Others

Key Industry Developments:

July 2022- CONCOX launched VL502 vehicle locator to prevent theft across the globe.

Segmentation

By Vehicle Type 

• Passenger Vehicle 
• Light Commercial Vehicle 
• Heavy Commercial Vehicle

By End Use

• Transportation & Logistics
• Construction & Manufacturing
• Aviation
• Retail
• Government & Defense

By Technology Type 

• GPS/Satellite
• GPRS/Cellular Network
• Dual Modes

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa