Africa Vehicle Tracking System Market Size is Booming Worldwide: $26.53 Million by 2027

Africa vehicle tracking system market

Increase in implementation of smart transport systems drives the growth of the Africa vehicle tracking system market.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, August 29, 2024 /EINPresswire.com/ -- Growing adoption of intelligent transport systems and rise in security and safety concerns within transportation services drive the growth of the 𝐀𝐟𝐫𝐢𝐜𝐚 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐫𝐚𝐜𝐤𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭. However, threats associated with hacking of data and low usage of internet in developing economies restrain the market growth. Furthermore, surge in adoption of 5G technology into vehicle connectivity is expected to provide new opportunities for the market players in near future.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A06641

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.

The key factor that drives the growth of the Africa vehicle tracking system market includes upsurge in adoption of smart transport solutions. Moreover, rise in fleet operations especially in emerging markets is expected to boost the revenue growth of the market during the forecast period. In addition, vehicle tracking systems ensure safety and security within transportation services; thereby, increasing their demand.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

.FROTCOM, TRAMIGO, .INSEEGO CORP., GEO TRACKING, CONTINENTAL AG, ROBERT BOSCH GMBH, RUPTELA, TELTONIKA, VERIZON COMMUNICATION INC., ORBCOMM, NSOROMA, AT&T INC., CARTRACK HOLDINGS LIMITED, GEOTAB INC., TOMTOM, INC.

Based on type, the active segment contributed to the largest share in 2019, accounting for nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the passive segment is estimated to portray the highest CAGR of 15.9% during the forecast period.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/5ba67840a65a0615900bd5cdf2482b66

Based on country, Ivory Coast contributed the highest share, accounting for nearly one-fifth of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Rwanda is expected to grow at the highest CAGR of 26.5% from 2020 to 2027.

Further, the new 5G standard mobile network is expected to encourage entire new functionalities in and beyond the vehicle. It is anticipated to open the way for future mobility and automated driving, but also for enhanced car infotainment and multimedia features. For future mobility, for example, 5G means vehicle-to-vehicle real-time communication due to higher bandwidths of up to 10 Gbit/s and an estimated latency of less than 1 millisecond in data transmission. But over-the-air updates of vehicle applications and software are also practically possible in real time. Vehicle-to-Vehicle (V2V) and Vehicle-to-Infrastructure (V2I) communication capabilities by telematics companies are expected to be enabled by 5G. Thus, with the help of 5G, a vehicle is anticipated to develop a platform hosting disruptive and innovative applications enhancing the end-user experience.

Based on vehicle type, the passenger vehicles segment accounted for the largest share in 2019, holding more than four-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the commercial vehicles segment is expected to register the highest CAGR of 18.3% from 2020 to 2027.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A06641

The wide range of vehicle tracking system solutions and value-added services attract new players, new solutions, and new business models that contribute to the rapid expansion of the overall Africa vehicle tracking system market size. Automotive OEMs and the foremost car manufacturers have embarked on implementing numerous connectivity solutions. Industries such as solid waste management from utilities sector are gaining importance in terms of vehicle tracking and telematics for its bin management, tracking and scheduling utility tasks, and exception management utility tasks. There is a huge potential untapped in most of the regions for insurance telematics.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A06641

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Allied Market Research
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