IoT based Asset Tracking and Monitoring Market worth $6.6 billion by 2027 - Exclusive Report by MarketsandMarkets™

News provided by

Jul 13, 2022, 09:30 ET

CHICAGO, July 13, 2022 /PRNewswire/ -- According to the report "IoT based Asset Tracking and Monitoring Market by Connectivity(Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS), Application(Automotive, Manufacturing, & Cold Chain Monitoring), Region(North America, Europe, APAC, RoW) - Global Forecast to 2027", published by MarketsandMarkets™, the market is projected to grow from USD 3.9 billion in 2022 to USD 6.6 billion by 2027; it is expected to grow at a CAGR of 11.3% from 2022 to 2027. The key factors fueling the growth of the IoT based Asset Tracking and Monitoring market include the adoption of IoT for real time tracking and condition monitoring. Moreover, demand for better throughput and reliable connectivity to create abundant opportunities in market.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=118687881

The LoRa segment is projected to grow at the highest CAGR in the IoT based Asset Tracking and Monitoring market from 2022 to 2027.

LoRa is easy to plug into the existing infrastructure and offers a solution for battery-operated IoT applications. Semtech (US) has deployed LoRa technology into its chipsets. These chipsets are integrated into the products offered by its vast network of IoT partners and LPWANs provided by mobile network operators worldwide. The reason LoRa is gaining popularity is mainly due to its open protocol. One of the most promising areas of application is asset tracking.

The livestock monitoring segment of the IoT based Asset Tracking and Monitoring market is expected to foresee moderate growth rate

IoT-based tracking and monitoring involve collecting real-time location information, health management, routine feeding management, sorting, and similar functions. The growing demand for advanced monitoring solutions, especially for cattle, has led to a surge in demand for livestock monitoring components such as smart tags, sensors, and GPS modules, thereby driving the growth of the livestock monitoring market.

Browse in-depth TOC on "IoT based Asset Tracking and Monitoring Market"
195 – Tables
62 – Figures
250 – Pages

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=118687881

Europe region is expected to hold the third-largest share in the market during the forecast period.

Europe has a solid base in manufacturing, designing, and researching advanced technologies used in the IoT industry. Key production centers in the EU and European Free Trade Association (EFTA) include Austria, France, Germany, Italy, Ireland, and the Netherlands. This has resulted in the high growth rate of the IoT-based asset tracking and monitoring market in France and the UK.

The key players operating in the IoT based Asset Tracking and Monitoring market include are Fibocom Wireless Inc. (China), Quectel (China), Sierra Wireless (Canada), Telit (U.K.), u-blox (Switzerland), Thales (France), Sony Semiconductor Israel Ltd. (Israel), Nordic Semiconductor (Norway), GosuncnWelink Corporation (China), Laird Connectivity (US), Semtech (US), and Mediatek Inc. (Taiwan) among others.

Related Reports:

Asset Management System Market With Covid-19 Impact by Solution (GPS, RFID, RTLS, Barcode), Asset Type (Electronic Assets, Returnable Transport Assets, In-Transit Equipment, Manufacturing Assets, Staff), Industry, Geography - Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/iot-based-asset-tracking-monitoring-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/iot-based-asset-tracking-monitoring.asp