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The automatic vehicle location system (AVL) is an advanced technology that is used to monitor and track any isolated vehicle fitted with a software unit transfers and receives signals through the global positioning system (GPS) satellite. Furthermore, this system is used to send the real-time position of the vehicle and the geographical location of the vehicle, access passenger information, and enhance customer service. With the rising urbanization and demographic growth, the need for automatic vehicle location systems has increased to a large extent. This system is majorly used in commercial vehicles and fleet management. Government agencies majorly use automated vehicle location systems for public safety, recreation centers, and parks to track the activities of emergency responders, patrol units, and field workers. Nowadays, cabs, ambulances, public transport such as buses and trains are adopting this technology for the safety of drivers, passengers and also to track the vehicle’s exact location. Owing to all these factors, the automatic vehicle location system market is expected to propel the market in the forecast period.
Globally, with the growing urbanization, improved standard of living, changing demands of consumers, rise in comfort and safety concerns, and the trend of advanced accessories in vehicles are driving the growth of the market.
On the contrary, the fear of losing privacy, stress caused because of being watched all the time may cause resentment. Also, the high installation cost of this system and the overdependence of drivers on these systems may lead to a comfort zone, which can be hazardous at times. Thesefactors may hinder the growth of the market.
Key Market Driver -
Adoption of new technology, rising security and safety concerns of drivers and passengers are driving the growth of the market.
Key Market Restraint -
High installation cost, fear of work resentment, and overdependence of drivers on these technologies may hinder the growth of the market
Globally, the automatic vehicle location system market has been segmented by type, by solution type, and by region. By type, the market is further segmented into direction finding, signpost systems, and GPS based system. The GPS based vehicle location system is widely used and is estimated to dominate the market in the forecast period. Owing to the enhancement in internet connectivity, low cost, accuracy in tracking vehicles, and high reliability, there has been tremendous growth in the AVL market over the past few years. Direction-finding and signpost systems are also showing a significant increase in the automatic vehicle location market. By solution type, the fleet management system holds the largest market share of the AVL market. Vehicle fleet management includes service vehicles, owing to cost efficiency, regular and dependable services, minimal wait time and trip duration, real-time information, and central monitoring system. Asset tracking is majorly used for container and trailer tracking. This system is also showing significant growth in the automatic vehicle market.
The major companies in the global automatic vehicle location system market include Atlanta Systems Private Limited, Descartes, C3LS, Reveon Technologies Corp., Global Tracking Group, Datum Tracking Group, Power System Engineering, Inc., Agero Inc, Werres Corporation, and Gforce Systems and Technology among others.
Geographically, the automatic vehicle location system market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is leading the AVL market and is expected to show rapid growth in the forecast period. The rapid adoption of advance technologies for tracking vehicles, rise in the passenger and driver safety, vehicle security purposes, and various government initiatives have led to the growth of the market in this region. Also, the Asia Pacific region is expected to grow at a significant rate. The increasing rate of automobile production, the recent launching of GPS satellites for enhancement in internet connectivity, are leading to the growth of the AVL market. Also, India and China are the regions having significant development in this market, and their continuous efforts to improve safety and security features for drivers and passengers are fuelling the market growth of automatic vehicle location system.
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