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Global Asset Tracking Market to Grow at a CAGR of 13.7% During 2024-2032, Aided by the Rising Application of Asset Tracking in the Transportation and Logistics Sector

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Global Asset Tracking Market Size, Share, Growth, Forecast: By Component: Hardware, Software; By Deployment Type: Cloud Based, On-Premise; By End Use: Transportation and Logistics, Aviation, Healthcare, Manufacturing, Food and Beverages, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Asset Tracking Market Outlook

The global asset tracking market stood at a value of more than USD 21.85 billion in 2023. The market is further expected to grow at a CAGR of 13.7% in the forecast period of 2024-2032 to attain a value of above USD 69.38 billion by 2032.

Global Asset Tracking Market

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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.

Global Asset Tracking Market by Segment

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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.

Global Asset Tracking Market by Region

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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.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
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 United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
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 (2018-2023)
   8.3   Global Asset Tracking Market Forecast (2024-2032)
   8.4   Global Asset Tracking Market by Component
       8.4.1   Hardware
           8.4.1.1   Market Share
           8.4.1.2   Historical Trend (2018-2023)
           8.4.1.3   Forecast Trend (2024-2032)
       8.4.2   Software
           8.4.2.1   Market Share
           8.4.2.2   Historical Trend (2018-2023)
           8.4.2.3   Forecast Trend (2024-2032)
   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 (2018-2023)
           8.5.1.3   Forecast Trend (2024-2032)
       8.5.2   On-Premise
           8.5.2.1   Market Share
           8.5.2.2   Historical Trend (2018-2023)
           8.5.2.3   Forecast Trend (2024-2032)
   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 (2018-2023)
           8.6.1.3   Forecast Trend (2024-2032)
       8.6.2   Aviation
           8.6.2.1   Market Share
           8.6.2.2   Historical Trend (2018-2023)
           8.6.2.3   Forecast Trend (2024-2032)
       8.6.3   Healthcare
           8.6.3.1   Market Share
           8.6.3.2   Historical Trend (2018-2023)
           8.6.3.3   Forecast Trend (2024-2032)
       8.6.4   Manufacturing
           8.6.4.1   Market Share
           8.6.4.2   Historical Trend (2018-2023)
           8.6.4.3   Forecast Trend (2024-2032)
       8.6.5   Food and Beverages
           8.6.5.1   Market Share
           8.6.5.2   Historical Trend (2018-2023)
           8.6.5.3   Forecast Trend (2024-2032)
       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 (2018-2023)
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023)
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023)
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2023)
            8.7.4.3    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2023)
            8.7.5.3    Forecast Trend (2024-2032)
9    North America Asset Tracking Market Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023)
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023)
        9.2.  3    Forecast Trend (2024-2032)
10    Europe Asset Tracking Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023)
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023)
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023)
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023)
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Asset Tracking Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023)
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023)
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023)
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023)
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023)
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Asset Tracking Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023)
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023)
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023)
        12.3.3    Forecast Trend (2024-2032)
    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 (2018-2023)
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023)
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023)
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023)
        13.4.3    Forecast Trend (2024-2032)
    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 2032
2.   Global Asset Tracking Historical Market: Breakup by Component (USD Billion), 2018-2023
3.   Global Asset Tracking Market Forecast: Breakup by Component (USD Billion), 2024-2032
4.   Global Asset Tracking Historical Market: Breakup by Deployment Type (USD Billion), 2018-2023
5.   Global Asset Tracking Market Forecast: Breakup by Deployment Type (USD Billion), 2024-2032
6.   Global Asset Tracking Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.   Global Asset Tracking Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.   Global Asset Tracking Historical Market: Breakup by Region (USD Billion), 2018-2023
9.   Global Asset Tracking Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.   North America Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2023
11.   North America Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.   Europe Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2023
13.   Europe Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.   Asia Pacific Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2023
15.   Asia Pacific Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.   Latin America Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2023
17.   Latin America Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.   Middle East and Africa Global Asset Tracking Historical Market: Breakup by Country (USD Billion), 2018-2023
19.   Middle East and Africa Global Asset Tracking Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.   Global Asset Tracking Market Structure

Key Questions Answered in the Report

What was the global asset tracking market size in 2023?

In 2023, the global asset tracking market attained a value of more than USD 21.85 billion.

What is the growth rate of the market?

The market is estimated to grow at a CAGR of 13.7% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach above USD 69.38 billion by 2032.

What are the major regional markets of asset tracking, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major industry drivers?

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.

What are the key industry trends of the global asset tracking market?

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.

What are the major components of the product?

Hardware and software are the major components of the product.

What are the different market divisions, based on deployment type?

Cloud based and on-premise are the different market divisions, based on deployment type.

What are the significant end-uses of the product?

Transportation and logistics, aviation, healthcare, manufacturing, and food and beverages, among others are the significant end-uses of the product.

Who are the key industry players, according to the report?

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 21.85 billion in 2023, 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 2024-2032, growing at a CAGR of 13.7%. The market is projected to reach above USD 69.38 billion by 2032.

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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