The Asia Pacific asset tracking market is projected to register a CAGR of 13.15%, during the forecast period of 2019 to 2028. The region’s market growth is fueled by, the implementation of government initiatives, the rapidly growing logistics sector, and enhanced infrastructural facilities.
The Asia Pacific asset tracking market growth is analyzed by assessing Thailand, China, Australia & New Zealand, India, Japan, South Korea, Vietnam, Indonesia, and the rest of the Asia Pacific. India is anticipated to be the fastest-growing country, in terms of the asset tracking market growth. This is predominantly attributed to the swift expansions within the country’s logistics sector. Moreover, its performance and contribution to India’s economic development have been highly compelling. Likewise, the robust logistics sector is highly influential in establishing India as a manufacturing giant, mainly due to various government initiatives, such as, ’Make in India.’ The industry has also observed a rapid growth in recent years, owing to improved infrastructural facilities, systematic and planned government outlay, and increased access to global markets.
However, the slow adoption of new technologies is significantly restraining India’s logistics sector, leading to unsatisfactory asset utilization and operational inefficiencies. As a result, the asset tracking solutions’ adoption is anticipated to solve the problem by efficiently tracking transported goods and gaining data insights. Therefore, these factors are set to drive the region’s market growth, over the forecast years.
Prominent players operating in the market include, Spireon Inc, Fleet Complete, Asset Panda LLC, Cloudhawk, Onasset Intelligence Inc, etc.
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- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments