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Global Tracking-as-a-Service Market Size, Share, Analysis: By Component: Software, Services; By Enterprise Size: Large Enterprises, Small and Medium Enterprises; By Asset Type: Electronics and IT Assets, In-Transit Equipment, Manufacturing Assets, Others; By Industry Vertical; Regional Analysis; Competitive Landscape; 2024-2032
Global Tracking-as-a-Service Market Outlook
The global tracking-as-a-service market size reached approximately USD 2.02 billion in 2023. The market is further projected to grow at a CAGR of 17.6% between 2024 and 2032, reaching a value of USD 8.99 billion by 2032.
Key Trends in the Market
Tracking-as-a-service refers to a cloud-based technology that is used by logistic and supply chain industries for managing and tracking assets, vehicles, and inventories. These services offer improved operational efficiency, real-time monitoring, and data driven insights to different sectors and empowers enterprises to optimise resource utilisation.
- Increasing investments in the logistics sector and vehicle tracking and asset management owing to the expansion of the e-commerce sector is aiding the tracking-as-a-service market growth. Such investments are increasing as these services allow the businesses to boost brand visibility and enhance delivery operations.
- The evolution of 5G technology is providing lucrative growth opportunities to the market as they allow the amplification of connectivity reliability, reduce latency, and elevate speed for transfer of data, among others, bolstering the functionality of tracking systems.
- The rising adoption by healthcare and agriculture sectors are aiding the market expansion. In agriculture, the services allow farmers and agriculturists to monitor the crops and optimise resource utilisation. In healthcare, the services are used for tracking assets and monitoring patients.
Global Tracking-as-a-Service Market Analysis
On the basis of component, the market is bifurcated into software and services. Based on enterprise size, the market is divided into large enterprises and small and medium enterprises. On the basis of asset type, the market is segregated into electronics and IT assets, in-transit equipment, and manufacturing assets, among others.
Based on industry vertical, the market is classified into transportation and logistics, manufacturing, healthcare, food and beverage, retail, and IT and telecom, among others. On the basis of region, the tracking-as-a-service market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Honeywell International Inc.
- Lenovo PCCW Solutions Limited
- AT&T Inc.
- Zebra Technologies Corporation
- EZ Web Enterprise, Inc.
- Geotab Inc.
- Spider Tracks Ltd.
- Sortly Inc.
- JDM Technology Group (MicroMain Corp.)
- Dentsu International
- Others
Market Share by Asset Type
Manufacturing assets are expected to account for a significant tracking-as-a-service market share over the forecast period. This growth can be attributed to the rising requirement for optimisation of resource allocation, streamlining of supply chain operations, and minimisation of downtime through predictive maintenance from the manufacturing sector. The utilisation of tracking services and technologies allows manufacturers to ensure product quality and enhance data driven decision making.
Market Share by Region
North America accounts for a significant share of the market owing to the strong presence of major market players including Honeywell International Inc. and AT&T Inc., among others. The presence of technologically advanced infrastructure across North America is also supporting the market expansion in the region. The rising requirement for data analysis and real time tracking is further bolstering the tracking-as-a-service market demand.
Competitive Landscape
Honeywell International Inc., headquartered in North Carolina, United States, is an appliance, electrical, and electronics manufacturing company that was founded in 1906. The company also provides tracking-as-a-service.
Lenovo PCCW Solutions Limited is an IT services and IT consulting company that was founded in 2000 and is headquartered in Hong Kong, China. The company is known for providing market leading solutions to organisations to enhance their innovations and transform operations.
AT&T Inc., headquartered in Texas, United States, is a telecommunications company that specialises in wireless services, enterprise applications and managed hosting solutions, U-Verse, and tracking-as-a-service, among others.
Other tracking-as-a-service market key players include Zebra Technologies Corporation, EZ Web Enterprise, Inc., Geotab Inc., Spider Tracks Ltd., Sortly Inc., JDM Technology Group (MicroMain Corp.), and Dentsu International, among others.
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:
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| Breakup by Component |
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| Breakup by Enterprise Size |
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| Breakup by Asset Type |
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| Breakup by Industry Vertical |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Tracking-as-a-Service Market Analysis
8.1 Key Industry Highlights
8.2 Global Tracking-as-a-Service Historical Market (2018-2023)
8.3 Global Tracking-as-a-Service Market Forecast (2024-2032)
8.4 Global Tracking-as-a-Service Market by Component
8.4.1 Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Services
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Tracking-as-a-Service Market by Enterprise Size
8.5.1 Large Enterprises
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Small and Medium Enterprises
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Tracking-as-a-Service Market by Asset Type
8.6.1 Electronics and IT Assets
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 In-Transit Equipment
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Manufacturing Assets
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Tracking-as-a-Service Market by Industry Vertical
8.7.1 Transportation and Logistics
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Manufacturing
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Healthcare
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Food and Beverage
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Retail
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
8.7.6 IT and Telecom
8.7.6.1 Historical Trend (2018-2023)
8.7.6.2 Forecast Trend (2024-2032)
8.7.7 Others
8.8 Global Tracking-as-a-Service Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Tracking-as-a-Service Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Tracking-as-a-Service Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Tracking-as-a-Service Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Tracking-as-a-Service Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Tracking-as-a-Service Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 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 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Honeywell International Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Lenovo PCCW Solutions Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 AT&T Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Zebra Technologies Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 EZ Web Enterprise, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Geotab Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Spider Tracks Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Sortly Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 JDM Technology Group (MicroMain Corp.)
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Dentsu International
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Tracking-as-a-Service Market: Key Industry Highlights, 2018 and 2032
2. Global Tracking-as-a-Service Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Tracking-as-a-Service Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Tracking-as-a-Service Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
5. Global Tracking-as-a-Service Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
6. Global Tracking-as-a-Service Historical Market: Breakup by Asset Type (USD Billion), 2018-2023
7. Global Tracking-as-a-Service Market Forecast: Breakup by Asset Type (USD Billion), 2024-2032
8. Global Tracking-as-a-Service Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
9. Global Tracking-as-a-Service Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
10. Global Tracking-as-a-Service Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Tracking-as-a-Service Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Tracking-as-a-Service Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Tracking-as-a-Service Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Tracking-as-a-Service Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Tracking-as-a-Service Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Tracking-as-a-Service Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Tracking-as-a-Service Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Tracking-as-a-Service Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Tracking-as-a-Service Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Tracking-as-a-Service Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Tracking-as-a-Service Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Tracking-as-a-Service Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 2.02 billion in 2023.
The market is projected to grow at a CAGR of 17.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 8.99 billion by 2032.
The major market drivers include expansion of the e-commerce sector and evolution of 5G technology.
The key trends fuelling the growth of the market include rising adoption by healthcare and agriculture sectors and increasing requirement for optimisation of resource allocation.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant asset types include electronics and IT assets, in-transit equipment, and manufacturing assets, among others.
The key players in the market are Honeywell International Inc., Lenovo PCCW Solutions Limited, AT&T Inc., Zebra Technologies Corporation, EZ Web Enterprise, Inc., Geotab Inc., Spider Tracks Ltd., Sortly Inc., JDM Technology Group (MicroMain Corp.), and Dentsu International, among others.
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