Africa Vehicle Tracking System Market Estimated to Surpass $26.53 Million by 2027, Growing At a CAGR of 14.9%

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

PORTLAND, OR, US, February 21, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the Africa Vehicle Tracking System Market generated $8.99 million in 2019, and is estimated to reach $26.53 million by 2027, registering a CAGR of 14.9% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

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

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.

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.

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. 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.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/africa-vehicle-tracking-system-market/purchase-options

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.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The key players profiled in the Africa vehicle tracking system market share include AT&T Inc., Cartrack Holdings Limited, Continental AG, Geotab Inc., Inseego Corp., ORBCOMM, Robert Bosch GmbH, Ruptela, TomTom International N.V., Verizon Communications Inc., Frotcom, Tramigo, Teltonika, Nsoroma, and Geo Tracking.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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.

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

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By application, the cellular tracking segment generated the highest revenue in 2019.

By country, Rwanda is anticipated to exhibit the highest CAGR during the forecast period while considering Africa vehicle tracking system market growth.

By vehicle type, the passenger vehicles dominated the market in terms of revenue in 2019.

Transportation & logistics segment leads the market by industrial vertical segmentation.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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David Correa
Allied Market Research
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