Predictions For The Vehicle Tracking Market In 2024

Here at Fit My Tracker, we are always excited to see what’s likely happening in the future in the vehicle tracking market. Here, we take a look at predictions for the next 12 months, and highlights some of the positives and negatives.

Significant Growth

The vehicle tracking market across the world is expected to grow significantly in the coming years. This is in part driven by increasing demand for monitoring vehicles in real time, the improvement of fleet management and the requirement to cut down operational costs.

In a highly competitive market, Europe and North America dominate. However, Asia Pacific is likely to see the highest growth in the next few years, due to countries such as India and China adopting vehicle tracking solutions.

Technologies And Advancements

Obviously, there will be many opportunities throughout the next 12 months for the development of advanced vehicle tracking technologies. The Internet of things and AI will play a greater role in vehicle tracking, in addition to it being used in a more diverse manner. This may include options to help predict regular maintenance, which can only come as good news for fleet managers and route optimisation.

Furthermore, vehicle tracking may also change in regards to the growing demand for hybrid and electric vehicles. These vehicles have different monitoring requirements than those that work on petrol. Expect to see developments in the data and optimisation of such trackers, which may include calculating battery life needed to get from A to B and optimising the route for charging points along the way.

The Benefits To Customers

There are obvious benefits for those who rely on vehicle tracking, and in such a competitive market. It is likely that value added extras will be one of the factors that makes a specific tracker more popular than another. Those that improve driver safety, plan maintenance, and optimise routes for the type of car, weather and roads taken will likely be favoured over those who offer a standard GPS tracking service.


While all this seems like great news, there will be challenges ahead for the vehicle tracking industry.

One significant concern is relating to the data privacy and security of such systems. Obviously since the introduction of GDPR, all involved in tracking will need to maintain their systems to keep up with the ever-present threat of a data breach, and there will be high costs in reputation and potential fines for those who fail to comply.

Another challenge involves keeping prices competitive. While the costs of developing new technologies can be significant, there is a limit as to how much people will pay for tracking solutions. Then, there is the debate between the costs of professional installation vs trackers which are self-installed. This involves the debate on whether self-installed trackers are as useful in preventing vehicle theft than those which were set up and installed professionally by those with the knowledge and experience to know how to avoid them being detected and removed.

Put simply, 2024 will be an interesting year in the vehicle tracking market. We look forward to supplying and fitting the next generation of trackers that will benefit both individuals and business owners over the next 12 months.