Africa's Vehicle Tracking System Market Statistics 2020-2027
The Africa vehicle tracking system market was valued at $8.99 million in 2019, and is projected to reach $26.53 million by 2027, registering a CAGR of 14.9% from 2020 to 2027.
With the advent in COVID-19 pandemic across the globe, the Africa vehicle tracking system market has been affected as the vehicle tracking manufacturing units have been shut down due to the imposed lockdown in major countries across the region. In addition, the unavailability of skilled labor has affected the market growth. However, the vehicle tracking system market in Africa is expected to register a significant growth in the near future, owing to its rising technology adoptions.
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Major Market Players:
- AT&T INC.
- CARTRACK HOLDINGS LIMITED
- CONTINENTAL AG
- GEOTAB INC.
- .INSEEGO CORP.
- ROBERT BOSCH GMBH
- TOMTOM, INC.
- VERIZON COMMUNICATION INC.
Vehicle tracking systems are used for checking and controlling the vehicle development, utilizing GPS, mobiles, PCs, equipment interface, and other devices. The system developed for monitoring and controlling the vehicle movement using various technologies such as GPS, mobiles, computers, and hardware interface, among others, is known as vehicle tracking system. This solution takes into loop the different aspects such as GPS, GSM/ GPRS, digital maps, specialized software, and so on.
The vehicle tracking systems market is segmented on the basis of type, vehicle type, application, industry vertical, and region. Based on type, the market is categorized into active and passive. By type of vehicle, it is divided into commercial vehicles and passenger vehicles. By application, it is fragmented into mobile tracking, cellular tracking, and satellite tracking.
In terms of Africa's vehicle tracking system industry vertical, it is segregated into transport & logistics, construction & manufacturing, aviation, retail, government, mining, farming, and others. Country wise, it is analyzed across Zimbabwe, Zambia, Malawi, Botswana, Mozambique, Democratic Republic of Congo (DRC), Kenya, Tanzania, Rwanda, Uganda, Ghana, Nigeria, Cameron, Senegal, Angola, Ethiopia, Ivory Coast, and Togo.
The key factors that impact the growth of the Africa vehicle tracking system market include rise in adoption of intelligent transport systems, safety and security concern within transportation services, increase in fleet operations especially in the emerging markets, increase in choices creating market shifts, winning new customer segments from diverse industry verticals, and emergence of 5G into vehicle connectivity. Each of these factors is anticipated to have a definite impact on the growth of the Africa vehicle tracking system market during the forecast period.
Intelligent transport system becomes the indispensable component among all, with the creation of a smart city transforming cities into electronic societies, making the lives of its citizens simple in every aspect. Mobility is a key concern in any city; whether it be attending school, university, and office or to travel within the city using transportation systems. Using an intelligent transportation system, citizens can save time and make the city even smarter. By minimizing traffic problems, intelligent transport system intents to achieve traffic efficiency. It provides prior traffic information, local convenience real-time running information, and seat availability, which reduces the travel time for the commuters and improve their safety and comfort. The new application of intelligent transport system is based entirely on data collection, analysis, and utilization of quantitative actual results in traffic management operations, control, and research concepts where location plays an important role. Accordingly, in the future years to come, the sales of vehicle tracking systems is correlated to the intelligent transport system infrastructural development.
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