The global asset tracking market size was estimated to be US$ 16.55 billion in 2020 and is expected to reach US$ 60.35 billion by 2031 at a CAGR of 12.6%.
The practice of tracking the location and status of an organization's movable and stationary assets is known as asset tracking. Many companies have a significant number of mission-critical or high-value assets. As a result, this technique is critical for ensuring that the placement and transit of such assets are strictly controlled in order to avoid risk and improve customer service and business operations. Asset monitoring software might give an organization with a number of advantages. The most advanced solutions allow users to monitor assets in real time 24 hours a day, seven days a week, reducing operating costs.
The ability to determine the exact address of assets in seconds also helps to ensure that company resources are safe and secure from theft or illegal activity. They can also be easily tracked and located if necessary. This might provide businesses a lot of peace of mind, especially if they have high-value assets or assets that are sensitive or vital to their business. Asset tracking systems are also quite accessible, with some of them being able to connect with mobile asset management apps for quick and easy verification, disposal, and purchasing.
Apart from providing outstanding asset tracking capabilities, tracking tools also aid customers in getting the most of their assets. This allows users to reserve everything they require with a single click, as well as follow the status of assets throughout the loan and return process. The need for asset tracking and monitoring has become crucial as the cost of business and industrial assets, particularly fleet gear, has risen. Additionally, management across sectors is realizing the need for a centralized system that provides crucial information for all assets in real time, such as location, maintenance history, and contract (if applicable), in order to determine the total cost of ownership.
By merging hardware, software, and network services, managers are able to save money on administrative costs, improve accountability, and boost efficiency. They can also use asset condition data to plan for maintenance and future expansion.
Asset Tracking Market Share Analysis, by Geography (2021)
The report titled “Asset Tracking Market- Global Market Share, Trends, Analysis and Forecasts, 2022-2032” offers market estimates for a period 2022 to 2032, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the asset tracking market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The asset tracking market is segmented based on component, deployment type, end- user application, geography. Based on component type asset tracking market is segmented into software and hardware. Based on deployment type asset tracking market is segmented into On-Premises, On-Cloud. Based on geography, the asset tracking market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Asset Tracking Market. Further, market share of prominent companies in the asset tracking market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the compounding pharmacy companies.
The asset tracking market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the relevant business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the asset tracking market.
Major players active in the asset tracking market has a number of companies like Verizon Connect, Asset Panda, Hilti, CloudHawk, Wasp AssetCloud, Samsara, Tenna, Azuga, ATTI, Keeptruckin, Rand McNally, Omnitracs, Nextraq, Teletrac Navman, Automile, Clearpath GPS, Zonar Systems, Mix Telematics, Blue Tree Systems, TitanGPS, Atti Fleet Tracking, Fleet Complete, Rhino Fleet Tracking.
Segmentation:
By Component:
By Deployment Type:
By End-user Applications:
By Geography
The global asset tracking market size was estimated to be US$ 16.55 billion in 2020
Asset Tracking market to witness healthy CAGR of 12.6% CAGR between 2021 and 2031.
Major market participants include Verizon Connect, Asset Panda, Hilti, CloudHawk, Wasp AssetCloud, Samsara, Tenna, Azuga, ATTI, Keeptruckin, Rand McNally, Omnitracs, Nextraq, Teletrac Navman, Automile, Clearpath GPS, Zonar Systems, Mix Telematics, Blue Tree Systems, TitanGPS, Atti Fleet Tracking, Fleet Complete, Rhino Fleet Tracking.
North America outperforms other global regions in terms of revenue generation
Asset Tracking predominantly finds application across Healthcare, Food & Beverages and Transportation & Logistics
Copyright © 2024 Same Page Management Consulting Pvt. Ltd. (insightSLICE) | All Rights Reserved