Asset Tracking Market Projected to Reach USD 54.3 Billion by 2030 with Evolving Cloud-Based Solutions and a Strong North American Presence

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Jan 23, 2024, 11:15 ET

DUBLIN , Jan. 23, 2024 /PRNewswire/ -- The "Global Asset Tracking Market 2030 by Component, Deployment, Organization Size, End-Uses and Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.

The latest research publication exploring the Asset Tracking Market landscape has been added to our comprehensive collection of industry analyses. This in-depth report forecasts the market to grow from USD 19.1 billion in 2022 to an estimated USD 54.3 billion by 2030, exhibiting a robust Compound Annual Growth Rate (CAGR) of 14.1%. The publication provides a crucial understanding of the industry, casting a spotlight on key components, deployment types, organizational sizes, end-uses, and geographical regions.

The Asset Tracking Market is currently undergoing transformative changes with the integration of innovative technologies that optimize asset management across diverse industries. Real-time data gathering, provided through precise tracking tools such as GPS and RFID, has significantly improved decision-making efficiency, risk mitigation, and process optimization. The result is an industry that contributes to enhanced productivity, resource allocation, and compliance with regulations.

Cloud-Based Deployment: A Major Contributor to Market Expansion

An important aspect of this growth is the surge in demand for cloud-based deployment. Modern asset tracking systems leverage cloud computing for its scalability, security, and efficiency. Organizations are particularly drawn to the reduced overhead costs as cloud-based solutions eliminate the need for large-scale hardware investments.

Flourishing North American Asset Tracking Market

Geographically, North America is a vital hub for the asset tracking ecosystem. The region's advanced manufacturing, paired with dynamic transportation and logistics, supports the sophisticated application of asset management technologies. In particular, the United States is at the forefront of adopting such innovations, with the Federal Highway Association (FHWA) and the American Association of State Highway and Transportation Officials (AASHTO) being key players.

The report dissects the market into several critical segments for a granular analysis, including:

Hardware and Software components
Cloud-Based and On-Premise deployment
Small and Medium-sized Enterprises (SMEs) and Large Enterprises
End-Uses including Transportation and Logistics, Aviation, Healthcare, Manufacturing, and Food and Beverages
Geographic regions like North America, Latin America, Europe, Asia Pacific, and the Rest of the World

Companies Mentioned

Actsoft Inc. (US)
Touma Incorporated (Asap Systems) (US)
SAP SE (Germany)
Microsoft Corporation (US)
Honeywell International Inc. (US)
IBM Corporation (US)
Asset Panda (US)
AT&T Inc. (US)
GigaTrak (P&T Solutions Inc.) (US)
OnAsset Intelligence Inc. (US)
Fleet Complete (Canada)
Oracle Corporation (US)
Spireon Inc. (US)
Trimble Inc. (US)
Zebra Technologies Corporation (US)
Verizon Communications Inc. (US)
Ubisense Limited (UK)
Wasp Barcode Technologies Inc. Tenna (US)

For more information about this report visit https://www.researchandmarkets.com/r/29u0rs

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