Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- 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 Global Asset Tracking Market is on an accelerated growth path, with projections estimating the market's expansion from USD 19.1 billion in 2022 to a staggering USD 54.3 billion by 2030. The sector's compound annual growth rate (CAGR) is anticipated to be a robust 14.1% from 2023 through to the end of the forecast period, underscoring the increasing dependability and progressive implementation of asset tracking technologies in an array of industries.
The robust participation of key industry players is a significant catalyst for this growth. Companies across the globe, including major technology corporations and specialized asset tracking firms, provide a variety of solutions – from hardware components to sophisticated software systems – to cater to the diverse asset tracking needs of organizations both large and small.
The Transformative Power of Asset Tracking Technologies
Asset tracking technologies are revolutionizing numerous industries by offering real-time data and tracking of physical assets through advanced tools like GPS and RFID systems. This real-time data is not just enhancing decision-making processes but also streamlining operations to ensure time and cost efficiency. Industries are able to improve asset utilization, increase operational effectiveness, tighten security protocols, and adhere to regulatory compliance more stringently.
Cloud-based Asset Tracking: A Market Drivers
In recent years, cloud-based deployment for asset tracking has witnessed heightened demand due to its scalability, ease of integration, and lower overall cost of ownership. The shift towards cloud-based systems is expected to significantly contribute to the market expansion during the forecast period as more organizations seek to leverage these economically favorable and operationally efficient platforms.
North America: A Hub for Asset Tracking Market Growth
North America, with its advanced infrastructure in manufacturing and logistics sectors, is projected to be a key player in the asset tracking market growth. The region's proactive approach to asset management, spearheaded by collaborations between government bodies and transportation entities, is anticipated to fuel significant growth within the market.
Comprehensive Market Insights
This market research report presents a comprehensive overview of the Asset Tracking Market, including detailed segmentation analysis by component, deployment mode, organization size, and end-use sectors. These insights encompass a wide spectrum of the market specifics, from competitive landscapes to regional market shares, thus offering stakeholders a granular view of the current market dynamics and future growth prospects.
- Asset Tracking Market, By Component
- Hardware
- Software
- Asset Tracking Market, By Deployment
- Cloud-Based
- On-Premise
- Asset Tracking Market, By Organization Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
- Asset Tracking Market, By End-Uses
- Transportation and Logistics
- Aviation
- Healthcare
- Manufacturing
- Food and Beverages
- Others
- Asset Tracking Market, By Geography
- North America
- Latin America
- Europe
- Asia Pacific
- Rest of the World
The global Asset Tracking Market research report provides extensive analysis for stakeholders to harness potential opportunities for strategic business planning and investment allocations to align with market trends. The report stands as a critical tool for industry participants to ascertain market positioning and to capitalize on the asset tracking sector's growth trajectory.
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/bnm5wb
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