Vehicle Tracking Systems Market Size Is Expected To Reach USD 46.33 Billion By 2028
San Francisco, 14 June 2021: The Report Vehicle Tracking Systems Market Size, Share & Trends Analysis Report By Vehicle Type, By End Use (Transportation & Logistics, Retail), By Technology Type, By Type, By Component, By Region, And Segment Forecasts, 2021 - 2028 The global vehicle tracking systems market size is expected to reach USD 46.33 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 13.3% from 2021 to 2028. Technological advancements and digitization in the automotive industry coupled with the expanding global transportation and logistics industry are anticipated to drive the demand for vehicle tracking systems. Moreover, increasing sales of light and heavy commercial vehicles are also expected to drive the market growth over the forecast period. Meanwhile, the high cost associated with the vehicle tracking system coupled with its complex design is expected to hamper the market's growth over the fore