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Stolen Vehicle Recovery Market Share

Report ID: GMI11680
Published Date: Oct 2024
Report Format: PDF

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Stolen Vehicle Recovery Market Share

Global Stolen Vehicle Recovery Company Market Share, 2023

Verizon Connect, Cartrack, and Ituran Global collectively held a substantial share of over 14% in the stolen vehicle recovery industry in 2023. Verizon Connect integrates stolen vehicle recovery with a comprehensive suite of telematics services, including fleet management, route optimization, driver behavior monitoring, and asset tracking. Targeting large enterprises and commercial fleets, Verizon Connect offers scalable solutions that enhance value and customer retention by combining recovery services with advanced fleet management.

Cartrack has expanded its presence to over 20 countries, focusing on emerging markets in Asia, Africa, and Europe. This global reach allows Cartrack to capture high-demand regions with increasing vehicle theft. Cartrack's all-in-one platform for vehicle recovery, fleet management, and insurance telematics appeals to both individual customers and commercial fleet operators. Unlike some competitors, Ituran emphasizes stolen vehicle recovery, particularly in high-theft regions like Latin America and Israel. Their direct collaboration with law enforcement agencies results in higher recovery rates.

Stolen Vehicle Recovery Market Companies

Major players operating in the stolen vehicle recovery industry are:

CalAmp Corp.
Cartrack
Digital Matter
Faststream Technologies
Inseego Corp.
Ituran Global
KORE Wireless
Spireon, Inc.
Teletrac Navman
Verizon Connect

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The global market for stolen vehicle recovery was reached USD 7.3 billion in 2023 and is projected to grow at a CAGR of 8% between 2024 and 2032, driven by rising global vehicle theft incidents.

The passenger vehicles segment accounted for over 60% of the market share in 2023 and is expected to exceed USD 4.5 billion by 2032, with increasing adoption of advanced GPS and cellular tracking technologies.

The OEM-installed systems segment held around 75% of the stolen vehicle recovery market in 2023. OEMs are increasingly embedding advanced GPS and cellular technologies into vehicle systems during manufacturing.

The U.S. stolen vehicle recovery market is projected to surpass $6 billion by 2032, driven by insurance companies offering premium discounts for vehicles with approved recovery systems.

Major players in the stolen vehicle recovery market include CalAmp Corp., Cartrack, Digital Matter, Faststream Technologies, Inseego Corp., Ituran Global, KORE Wireless, Spireon, Inc., Teletrac Navman, and Verizon Connect.