[198 Pages Report] The IoT based Asset Tracking & Monitoring Market size was estimated at USD 3.63 billion in 2023 and expected to reach USD 4.11 billion in 2024, at a CAGR 13.76% to reach USD 8.96 billion by 2030.
IoT (Internet of Things) based asset tracking and monitoring provides significant value to organizations whose performance depends on using a large volume of mobile assets and equipment. IoT asset tracking may streamline labor-intensive and error-prone manual tasks. The growing deployment of cloud computing platforms and Industry 4.0 technologies in multiple end-user sectors have enhanced the need for IoT-based asset monitoring and trekking systems. However, the associated interoperability issues and lack of standardization may hamper the adoption rate of IoT systems. Furthermore, network security and privacy challenges also hinder the development of the market. Nevertheless, the ongoing technological advancements and establishment of 5G infrastructure all over the globe may create lucrative opportunities for the IoT-based asset tracking & monitoring market.
Regional Insights
From a geographical perspective, the American region, particularly North America, appeared as the leading region in the IoT-based Asset Tracking and Monitoring Market due to the rising preference for technologically improved products. The growing sales of connected technologies, expanding deployment of related technologies, and upsurging utilization of innovative devices have developed the wide spectrum of the market. Similarly, European countries, such as Germany, the United Kingdom, France, Switzerland, Poland, and many more, are prone to deploy advanced and innovative technologies in asset management. Moreover, the establishment of advanced connected infrastructure and the presence of multiple competitive vendors are enlarging the scope of the IoT-based asset tracking & monitoring market. At the same time, the Asia-Pacific region, with a large population base and steadily rising per capita income, is home to some of the world’s fastest-growing economies, including China and India. Furthermore, combining IoT and 5G can make it easier for businesses worldwide to launch, run, and expand their operations from a single platform.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the IoT based Asset Tracking & Monitoring Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the IoT based Asset Tracking & Monitoring Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the IoT based Asset Tracking & Monitoring Market, highlighting leading vendors and their innovative profiles. These include 3d Signals, Accruent, LLC, ALPS ALPINE CO., LTD., Amazon Web Services, Inc., Analog Devices, Inc., Applied Satellite Technology Ltd, AT&T Inc., Avnet, Inc., Azuga Inc., Biz4Intellia Inc., Comarch SA, Cyient, Datacake GmbH, Edge Impulse Inc., ElastiSense, Euristiq, Fibocom Wireless Inc., FitMech Sp. z o.o., GosuncnWelink Corporation, HCL Technologies Limited, Hilti Corporation, Huawei Technologies Co., Ltd., Indio Networks, iottag, KeyPord, Laird Connectivity, Link Labs, MeiG Smart Technology Co., Ltd., Neoway Technology Co. Ltd., Nordic Semiconductor, Omnitracs, LLC, Oracle Corporation, Particle Industries, Inc., Quectel Wireless Solutions Co., Ltd., RAD Data Communications Ltd., Radiant RFID, LLC, Samsara Inc., Semtech Corporation, Sequans Communications, Skyworks Solutions, Inc., SmartMakers GmbH, Sony Semiconductor Solutions Corporation, Tata Communications, TEKTELIC Communications Inc., Telit Corporate Group, Thales Group, u-blox AG, VVDN Technologies, Wireless Links Inc., and WIXTrac.
Market Segmentation & Coverage
This research report categorizes the IoT based Asset Tracking & Monitoring Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Connectivity
- Bluetooth
- Cellular
- GNSS
- LoRa
- NB-IoT
- SigFox
- UWB
- Wi-Fi
- Component
- Automatic Lighting Controls
- Bluetooth Low Energy Transmitters
- CCTV Systems
- Energy Sensor Trackers
- GPS Tracking Tags
- Smart Locks
- Smoke & Monoxide Detectors
- End-User
- Agriculture
- Construction
- Education
- Healthcare
- Law Enforcement
- Logistics
- Manufacturing
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the IoT based Asset Tracking & Monitoring Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the IoT based Asset Tracking & Monitoring Market?
- What are the technology trends and regulatory frameworks in the IoT based Asset Tracking & Monitoring Market?
- What is the market share of the leading vendors in the IoT based Asset Tracking & Monitoring Market?
- Which modes and strategic moves are suitable for entering the IoT based Asset Tracking & Monitoring Market?
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