The IoT based Asset Tracking and Monitoring market is projected to reach USD 6.6billion by 2027, growing at a CAGR of 11.3% from 2022 to 2027. This report covers key applications, namely,livestock monitoring, automotive, railways, aviation, manufacturing, cold chain monitoring, and others in IoT based asset tracking and monitoring market. The Wi-Fi connectivity type in deployingIoT based Asset tracking and monitoring accounted for a whoppingshare of about 24% of the market in 2021.
“By application, the market for cold chain monitoringsegment is expected to holdabout one-fifthmarket share during the forecast period”
Cold chain monitoring devices are a valuable tool for fleets that move products that must be kept at a specific temperature or range throughout the transportation process, such as food, beverages, medicines, or other goods, to prevent damage or waste in the cold chain supply chain, the devices transmit real-time temperature data. Temperature data loggers, also called cold chain monitoring devices, are wireless sensors that use IoT technology to deliver real-time temperature data. To aid cold chain managers and customers in understanding the temperature, these IoT-based asset tracking and monitoring devices are frequently installed in reefers, refrigeration units, or cold rooms.
“Asia Pacific region is expected to grow at highest CAGR in the IoT based Asset Tracking and Monitoringmarket during the forecast period.”
Asia Pacific is one of the major markets for chip and module manufacturing. The commercialization of IoT and its convergence across all the industries are estimated to be in the growth phase, especially in developing economies of Asia Pacific. The region has emerged as a global focal point for large investments and business expansion opportunities. Asia Pacific is expected to witness substantial growth due to the region’s high production and consumption of electronic devices. In addition, the presence of leading manufacturers of chips and modules is significantly driving the growth of the regional IoT-based asset tracking and monitoring market.
Break-up of the profiles ofprimary participants:
- By Company Type –Tier 1 – 10%, Tier 2 – 55%, and Tier 3 – 35%
- By Designation – C-level – 45%, Director-level – 25%, and,Other – 30%
- By Region– North America - 55%, Europe – 20%, APAC – 15%, and RoW – 10%
The key players operating in the IoT based asset tracking and monitoring market includeareFibocom Wireless Inc. (China), Quectel (China), Sierra Wireless (Canada), Telit (U.K.), u-blox (Switzerland), Thales (France), Sony Semiconductor Israel Ltd. (Israel), Nordic Semiconductor (Norway), GosuncnWelink Corporation (China), Laird Connectivity (US), Semtech (US), Mediatek Inc. (Taiwan), Analog Devices, Inc. (US), Sequans (France), MeiG Smart Technology (China), Neoway Technology (China), Xiamen CHEERZING IoT Technology (China), HiSilicon Technologies (China), Skyworks Solutions, Inc. (US), Omnitracs (US), Hilti (US), Samsara (US), Azuga (US), and Sunsea AIoT Technology Co., Ltd (China).TheIoT based asset tracking and monitoring markethas been segmentedinto connected type, application, and region.
Based on connectivity typethe IoT based asset tracking and monitoring market has been segmented by
Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS, and Others. Based on application the IoT based asset tracking and monitoring market has been segmented bylivestock monitoring, automotive, railways, aviation, manufacturing, cold chain monitoring, and others.Based on region theIoT based Asset Tracking and Monitoring market has been segmented by North America, Europe, Asia Pacific, and Rest of the World.
- Illustrative segmentation, analysis, and forecast of the market based onconnectivity type, application, and region have been conducted to give an overall view of the IoT based Asset Tracking and Monitoringmarket.
- Avalue chain analysis has been performed to provide in-depth insightsinto the IoT based Asset Tracking and Monitoring market.
- The key drivers, restraints, opportunities, and challengespertaining to the IoT based Asset Tracking and Monitoring markethave been detailed in this report.
- Detailed information regarding the COVID-19 impact on the IoT based Asset Tracking and Monitoringmarket has been provided in the report.
- The report includes adetailed competitive landscape of the market,along with key players, as well as in-depth analysis of their revenues