Scope and Challenges for Vehicle Tracking Service Business in Bangladesh

Abstract

vehicle Tracking Service (VTS) market in Bangladesh could be around TK 280 million by 2020. However, there are many challenges in operating such business in Bangladesh including regulatory, sourcing and market development related difficulties . This research predominantly utilized qualitative research method such as semi-structured interview to conduct a feasibility study of the VTS market in Bangladesh. In addition, secondary data including academic literature, policy documents and industry circulated dissemination materials were also analysed. At present there are more than 20 organizations that have acquired license from Bangladesh Telecommunication Regulatory Commission(BTRC) to run VTS operations. The findings of this research suggest that the industry is still in the inception stage of industry lifecycle and there are three main factors that can fuel a significant market expansion which includes: increased digitization; continuation of recent trends in increased vehicle purchase and inevitability of reducing vehicle related crime rate.