Asset Tracking Market Overviews
Asset Tracking Market size was valued at USD 17.79 Bn. in 2023 and the total Asset Tracking Market size is expected to grow at a CAGR of 11.58% from 2024 to 2030, reaching nearly USD 38.3 Bn. by 2030.
Asset tracking involves the use of technology to monitor the location, status, and movement of physical assets, ensuring optimal utilization and management. This technology is widely available and utilized across various industries including logistics, healthcare, and manufacturing, leveraging GPS, RFID, and IoT for real-time tracking. Europe is the fastest growing region in the forecast period (2024-2030) as the adoption of asset tracking technologies is driven by robust industrial sectors and stringent regulatory requirements. In 2023, the global asset tracking market was valued at approximately €17.79 billion, with projections indicating a growth to €38.3 billion by 2030.
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Asset Tracking Market Scope and Methodology:
The rapid increase in the number of active consumer asset tracking devices in Europe and North America highlights a significant driver for the asset tracking market. According to SMR analysis, there were 12.5 million active devices by the end of 2022, and this number is projected to grow at a compound annual growth rate (CAGR) of 18.4%, reaching 29.2 million units by 2027. This surge in adoption reflects the growing demand for various asset tracking solutions, ranging from family and child tracking to pet tracking, vehicle tracking, and general asset tracking.
Asset Tracking Market Regional Insights
North America has dominated the Asset Tracking Market, which held the largest market share accounting for 40% in 2023, the region is expected to grow during the forecast period and maintain its dominance by 2030. North America stands at the forefront of the global asset tracking market, underpinned by several key drivers such as, robust technological infrastructure and a tech-savvy population, which readily embraces innovative solutions.
Asset TrackingMarket Segmentation
Based on Technology, the GPS segment dominated the market and is expected to maintain its dominance through the forecast period (2024 – 2030) with an increasing CAGR of XX%. GPS (Global Positioning System) asset tracking provides real-time location data for assets, making it ideal for industries with mobile assets, such as transportation and logistics. GPS trackers are installed on vehicles or equipment, transmitting location data continuously. This technology is crucial for fleet management, enabling businesses to monitor vehicle locations, prevent theft through geofencing, and optimize routes for efficiency.
Asset Tracking Market Key Players
Zebra Technologies Corporation
Honeywell International Inc.
Siemens AG
Cisco Systems Inc.
Trimble Inc.
Ubisense Group Plc
Datalogic S.p.A.
Oracle Corporation
Samsara Networks Inc.
TomTom International B.V.
Fleet Complete
CalAmp Corp.
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Key questions answered in the Asset Tracking Market are:
- What is Asset Tracking ?
- What was the Asset Tracking market size in 2023?
- What is the growth rate of the Asset Tracking Market?
- Which are the factors expected to drive the Asset Tracking market growth?
- What are the different segments of the Asset Tracking Market?
- What growth strategies are the players considering to increase their presence in Asset Tracking ?
- What are the upcoming industry applications and trends for the Asset Tracking Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Asset Tracking Market?
- Who are the leading companies and what are their portfolios in Asset Tracking Market?
- What segments are covered in the Asset Tracking Market?
- Who are the key players in the Asset Tracking market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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