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Global Asset Tracking Market: By Component: Hardware, Software; By Deployment Type: Cloud Based, On-Premise; By End Use: Transportation and Logistics, Aviation, Healthcare, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Asset Tracking Market Outlook
The global asset tracking market stood at a value of more than USD 16.9 billion in 2021. The market is further expected to grow at a CAGR of 13.7% in the forecast period of 2023-2028 to attain a value of above USD 36.51 billion by 2027.
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Significant Demand for Cloud-Based Deployment to Bolster the Growth of the Asset Tracking Industry
Based on deployment type, the cloud-based segment accounts for a significant share in the market and is anticipated to witness a steady growth in the forecast period. The cloud-based software provides significant advantages including security, value for time and money, data centralisation, and accuracy, among others. Additionally, the growing awareness about the cost-efficiency offered by the cloud-based systems compared to buying systems, hard disks, among others, is also estimated to add to the market growth. Cloud-based software can run on a simple laptop, saving a lot of money.
North America to Provide Significant Growth Opportunities to the Asset Tracking Industry
The asset tracking industry in North America is driven by the strong manufacturing and transportation and logistics base in the region. For instance, in countries like the United States, the Federal Highway Association (FHWA), along with the American Association of State Highway and Transportation Officials (AASHTO) and state and local departments of transportation (DOTs) are increasingly deploying asset management solutions. This can be attributed to the benefits of improved operational efficiency and productivity offered by these solutions. Over the forecast period, the emergence of highly skilled workforce in the logistics market, along with the technological advancements in the transportation sector is likely to augment the market growth in the region in the forecast period.
Asset Tracking: Market Segmentation
Asset tracking is defined as a method used to track physical assets either by scanning the attached barcode labels or with the use of tags through GPS or RFID, which denotes their location. Asset tracking helps in the efficient inventory management, as it allows an organisation to monitor and locate its assets in real time. In addition, the asset tracking systems help reduce the instances of losses and improve accountability, thereby enhancing the overall customer experience.
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Based on component, the market is segmented into:
- Hardware
- Software
On the basis of deployment type, the industry is divided into:
- Cloud Based
- On-Premise
The major end-uses of asset tracking include:
- Transportation and Logistics
- Aviation
- Healthcare
- Manufacturing
- Food and Beverages
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Application of Asset Tracking in the Healthcare Sector to Boost the Growth of the Asset Tracking Industry
The global asset tracking industry is being driven by its growing use in the healthcare sector. This can be attributed to the growing demand for medical equipment and upgraded surgical equipment in hospitals, ambulatory surgical centres, clinics, and medical camps. In addition, the growing requirement for improved asset lifecycle maintenance, efficient security, and stringent asset management protocols are leading to the increased deployment of asset tracking system in the industry. Over the forecast period, the thriving food and beverage industry in emerging economies of the world is likely to support the market growth in the forecast period.
Key Industry Players in the Global Asset Tracking Market
The report gives a detailed analysis of the following key players in the global asset tracking market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- ActSoft, Inc.
- AT&T Inc.
- Oracle Corporation
- Trimble, Inc.
- Zebra Technologies Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment Type, End Use, Region |
| Breakup by Component | Hardware, Software |
| Breakup by Deployment Type | Cloud Based, On-Premise |
| Breakup by End Use | Transportation and Logistics, Aviation, Healthcare, Manufacturing, Food and Beverages, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | ActSoft, Inc., AT&T Inc., Oracle Corporation, Trimble, Inc., Zebra Technologies Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Asset Tracking Market Analysis
8.1 Key Industry Highlights
8.2 Global Asset Tracking Historical Market (2018-2022)
8.3 Global Asset Tracking Market Forecast (2023-2028)
8.4 Global Asset Tracking Market by Component
8.4.1 Hardware
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Software
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Asset Tracking Market by Deployment Type
8.5.1 Cloud Based
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 On-Premise
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Asset Tracking Market by End Use
8.6.1 Transportation and Logistics
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Aviation
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Healthcare
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Manufacturing
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Food and Beverages
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.6.6 Others
8.7 Global Asset Tracking Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Asset Tracking Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2. 3 Forecast Trend (2023-2028)
10 Europe Asset Tracking Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Asset Tracking Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Asset Tracking Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Asset Tracking Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 ActSoft, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 AT&T Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Oracle Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Trimble, Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Zebra Technologies Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Asset Tracking Market: Key Industry Highlights, 2018 and 2028
2. Global Asset Tracking Historical Market: Breakup by Component (USD Billion), 2018-2022
3. Global Asset Tracking Market Forecast: Breakup by Component (USD Billion), 2023-2028
4. Global Asset Tracking Historical Market: Breakup by Deployment Type (USD Billion), 2018-2022
5. Global Asset Tracking Market Forecast: Breakup by Deployment Type (USD Billion), 2023-2028
6. Global Asset Tracking Historical Market: Breakup by End Use (USD Billion), 2018-2022
7. Global Asset Tracking Market Forecast: Breakup by End Use (USD Billion), 2023-2028
8. Global Asset Tracking Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Asset Tracking Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global Asset Tracking Market Structure
Key Questions Answered in the Report
In 2021, the global asset tracking market attained a value of more than USD 16.9 billion.
The market is estimated to grow at a CAGR of 13.7% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach above USD 36.51 billion by 2027.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the industry, such as the growing adoption of cloud-based services, thriving transportation and logistics sector, rapid digitalisation, and growing use of the asset tracking system in various industries including food and beverage, healthcare, and aviation, among others, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rapid technological advancements, which include the upgradation and incorporation of new features in the cloud-based software.
Hardware and software are the major components of the product.
Cloud based and on-premise are the different market divisions, based on deployment type.
Transportation and logistics, aviation, healthcare, manufacturing, and food and beverages, among others are the significant end-uses of the product.
The major players in the industry are ActSoft, Inc., AT&T Inc., Oracle Corporation, Trimble, Inc., and Zebra Technologies Corporation, among others.
Analyst Review
The global asset tracking market attained a value of more than USD 16.9 billion in 2021, driven by the growing demand for asset tracking in the transportation and logistics sector. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 13.7%. The market is projected to reach above USD 36.51 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on component, the market is divided into hardware and software. On the basis of deployment type, the market is divided into cloud-based and on-premise. The significant end-uses of the product are transportation and logistics, aviation, healthcare, manufacturing, and food and beverages, among others. The major regional markets for asset tracking are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ActSoft, Inc., AT&T Inc., Oracle Corporation, Trimble, Inc., and Zebra Technologies Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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