The asset tracking software market size has grown rapidly in recent years. It will grow from $17.05 billion in 2023 to $19.17 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The rise observed in the historical period can be credited to a heightened demand for real-time data analytics, improved precision in tracking systems, decreased operational expenses, a surge in the necessity for effective supply chain management, and the broadening reach of cloud computing services.
The asset tracking software market size is expected to see rapid growth in the next few years. It will grow to $30.75 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. Anticipated growth in the forecast period can be ascribed to the expansion of the healthcare domain, an escalating requirement for remote asset monitoring, the increasing significance of predictive maintenance, the advancement of smart city initiatives, and enhancements in cybersecurity protocols. Prominent trends expected in the forecast period include the uptake of IoT and AI technologies, the utilization of cloud-centric solutions, integration with cutting-edge technologies such as blockchain, the adoption of mobile-centric tracking solutions, and the automation of asset management processes.
The asset tracking software market is anticipated to experience growth propelled by the expanding transportation and logistics industries. These sectors facilitate the efficient movement of goods and people across various transportation modes, playing a crucial role in global trade and economic activities. Their growth is fueled by factors such as increasing globalization, the expansion of e-commerce, technological advancements, and the demand for efficient supply chain management. Asset tracking software plays a vital role in these industries, enabling real-time monitoring and management of vehicles, shipments, and inventory, thereby optimizing operations, improving efficiency, and enhancing security. For instance, according to the Bureau of Transportation Statistics, a part of the United States Department of Transportation, in December 2023, the transportation sector accounted for 9% of the U.S. GDP, up from 8.4% in 2021 and 7.7% in 2020. Hence, the growth of the transportation and logistics industries is a driving force behind the asset tracking software market.
Major players in the asset tracking software market are prioritizing IoT integration, particularly Internet of Things (IoT) asset-tracking solutions, to enhance real-time visibility and efficiency in asset monitoring and management across various industries. IoT asset tracking solutions leverage IoT technology to monitor and manage assets in real-time, utilizing connected devices to streamline operations and enhance efficiency. For instance, in December 2023, Globalstar, Inc., a U.S.-based satellite communications company, collaborated with Global Satellite Engineering (GSE), a U.S.-based firm specializing in machine-to-machine, satellite, and IoT solutions, to launch GSatSolar. This compact and durable IoT asset-tracking device enhances tracking software capabilities for value-added resellers (VARs) and customers by enabling near-real-time tracking of additional assets. Designed for remote IoT operations, GSatSolar's satellite-powered design expands asset tracking capacity, facilitating reliable field data collection and potentially improving efficiency, particularly in remote areas.
In February 2022, Construction Industry Solutions Ltd. (COINS), a UK-based construction software firm, acquired AssetTagz for an undisclosed sum. This acquisition aligns with COIN's strategy of providing solutions that offer construction firms instant and accurate data, contributing to cost reduction, enhanced compliance, and improved decision-making capabilities. AssetTagz, a UK-based asset management solution, caters to various sectors including construction, government, mining, oil and gas, financial services, and security services.
Major companies operating in the asset tracking software market are Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Siemens AG, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Stanley Black and Decker Inc., Zebra Technologies Corporation, Trimble Inc., Datalogic S.P.A., Geotab Inc., QBurst, Freshworks, Impinj Inc., Fleet Complete, Mojix Inc., Tenna LLC, Savi Technology Inc., UpKeep Technologies, Ubisense Group Plc., Zerion Software, PcsInfinity, Sortly.
North America was the largest region in the asset tracking software market in 2023. The regions covered in the asset tracking software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the asset tracking software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asset tracking software serves as a vital tool for businesses, enabling them to continuously monitor and oversee the whereabouts, condition, and utilization of their assets in real time. Across diverse industries, this technology facilitates the efficient management and tracking of valuable assets, contributing to heightened operational efficiency, reduced instances of loss and theft, and optimized asset deployment.
Comprising software and services, the asset tracking software ecosystem encompasses programs and applications tailored to streamline asset monitoring and management. Deployment options range from cloud-based solutions to on-premise setups. Organizations of varying sizes, including small and medium enterprises (SMEs) and large enterprises, leverage this software across a spectrum of sectors such as government and defense, banking, financial services, and insurance (BFSI), information technology and telecommunications, healthcare, education, retail, among others.
The asset tracking software market research report is one of a series of new reports that provides asset tracking software market statistics, including asset tracking software industry global market size, regional shares, competitors with a asset tracking software market share, detailed asset tracking software market segments, market trends and opportunities, and any further data you may need to thrive in the asset tracking software industry. This asset tracking software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The asset tracking software market consists of revenues earned by entities by providing services such as customer support and training, mobile accessibility, customization and scalability, compliance, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The asset tracking software market also includes sales of radio frequency identification (RFID) tags, global positioning system (GPS) trackers, asset management software, barcode labels, and scanners. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The asset tracking software market size is expected to see rapid growth in the next few years. It will grow to $30.75 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. Anticipated growth in the forecast period can be ascribed to the expansion of the healthcare domain, an escalating requirement for remote asset monitoring, the increasing significance of predictive maintenance, the advancement of smart city initiatives, and enhancements in cybersecurity protocols. Prominent trends expected in the forecast period include the uptake of IoT and AI technologies, the utilization of cloud-centric solutions, integration with cutting-edge technologies such as blockchain, the adoption of mobile-centric tracking solutions, and the automation of asset management processes.
The asset tracking software market is anticipated to experience growth propelled by the expanding transportation and logistics industries. These sectors facilitate the efficient movement of goods and people across various transportation modes, playing a crucial role in global trade and economic activities. Their growth is fueled by factors such as increasing globalization, the expansion of e-commerce, technological advancements, and the demand for efficient supply chain management. Asset tracking software plays a vital role in these industries, enabling real-time monitoring and management of vehicles, shipments, and inventory, thereby optimizing operations, improving efficiency, and enhancing security. For instance, according to the Bureau of Transportation Statistics, a part of the United States Department of Transportation, in December 2023, the transportation sector accounted for 9% of the U.S. GDP, up from 8.4% in 2021 and 7.7% in 2020. Hence, the growth of the transportation and logistics industries is a driving force behind the asset tracking software market.
Major players in the asset tracking software market are prioritizing IoT integration, particularly Internet of Things (IoT) asset-tracking solutions, to enhance real-time visibility and efficiency in asset monitoring and management across various industries. IoT asset tracking solutions leverage IoT technology to monitor and manage assets in real-time, utilizing connected devices to streamline operations and enhance efficiency. For instance, in December 2023, Globalstar, Inc., a U.S.-based satellite communications company, collaborated with Global Satellite Engineering (GSE), a U.S.-based firm specializing in machine-to-machine, satellite, and IoT solutions, to launch GSatSolar. This compact and durable IoT asset-tracking device enhances tracking software capabilities for value-added resellers (VARs) and customers by enabling near-real-time tracking of additional assets. Designed for remote IoT operations, GSatSolar's satellite-powered design expands asset tracking capacity, facilitating reliable field data collection and potentially improving efficiency, particularly in remote areas.
In February 2022, Construction Industry Solutions Ltd. (COINS), a UK-based construction software firm, acquired AssetTagz for an undisclosed sum. This acquisition aligns with COIN's strategy of providing solutions that offer construction firms instant and accurate data, contributing to cost reduction, enhanced compliance, and improved decision-making capabilities. AssetTagz, a UK-based asset management solution, caters to various sectors including construction, government, mining, oil and gas, financial services, and security services.
Major companies operating in the asset tracking software market are Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Siemens AG, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., SAP SE, Stanley Black and Decker Inc., Zebra Technologies Corporation, Trimble Inc., Datalogic S.P.A., Geotab Inc., QBurst, Freshworks, Impinj Inc., Fleet Complete, Mojix Inc., Tenna LLC, Savi Technology Inc., UpKeep Technologies, Ubisense Group Plc., Zerion Software, PcsInfinity, Sortly.
North America was the largest region in the asset tracking software market in 2023. The regions covered in the asset tracking software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the asset tracking software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asset tracking software serves as a vital tool for businesses, enabling them to continuously monitor and oversee the whereabouts, condition, and utilization of their assets in real time. Across diverse industries, this technology facilitates the efficient management and tracking of valuable assets, contributing to heightened operational efficiency, reduced instances of loss and theft, and optimized asset deployment.
Comprising software and services, the asset tracking software ecosystem encompasses programs and applications tailored to streamline asset monitoring and management. Deployment options range from cloud-based solutions to on-premise setups. Organizations of varying sizes, including small and medium enterprises (SMEs) and large enterprises, leverage this software across a spectrum of sectors such as government and defense, banking, financial services, and insurance (BFSI), information technology and telecommunications, healthcare, education, retail, among others.
The asset tracking software market research report is one of a series of new reports that provides asset tracking software market statistics, including asset tracking software industry global market size, regional shares, competitors with a asset tracking software market share, detailed asset tracking software market segments, market trends and opportunities, and any further data you may need to thrive in the asset tracking software industry. This asset tracking software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The asset tracking software market consists of revenues earned by entities by providing services such as customer support and training, mobile accessibility, customization and scalability, compliance, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The asset tracking software market also includes sales of radio frequency identification (RFID) tags, global positioning system (GPS) trackers, asset management software, barcode labels, and scanners. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Asset Tracking Software Market Characteristics3. Asset Tracking Software Market Trends and Strategies32. Global Asset Tracking Software Market Competitive Benchmarking33. Global Asset Tracking Software Market Competitive Dashboard34. Key Mergers and Acquisitions in the Asset Tracking Software Market
4. Asset Tracking Software Market - Macro Economic Scenario
5. Global Asset Tracking Software Market Size and Growth
6. Asset Tracking Software Market Segmentation
7. Asset Tracking Software Market Regional and Country Analysis
8. Asia-Pacific Asset Tracking Software Market
9. China Asset Tracking Software Market
10. India Asset Tracking Software Market
11. Japan Asset Tracking Software Market
12. Australia Asset Tracking Software Market
13. Indonesia Asset Tracking Software Market
14. South Korea Asset Tracking Software Market
15. Western Europe Asset Tracking Software Market
16. UK Asset Tracking Software Market
17. Germany Asset Tracking Software Market
18. France Asset Tracking Software Market
19. Italy Asset Tracking Software Market
20. Spain Asset Tracking Software Market
21. Eastern Europe Asset Tracking Software Market
22. Russia Asset Tracking Software Market
23. North America Asset Tracking Software Market
24. USA Asset Tracking Software Market
25. Canada Asset Tracking Software Market
26. South America Asset Tracking Software Market
27. Brazil Asset Tracking Software Market
28. Middle East Asset Tracking Software Market
29. Africa Asset Tracking Software Market
30. Asset Tracking Software Market Competitive Landscape and Company Profiles
31. Asset Tracking Software Market Other Major and Innovative Companies
35. Asset Tracking Software Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Asset Tracking Software Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on asset tracking software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for asset tracking software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The asset tracking software market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Component: Software; Service2) By Deployment: Cloud; On-Premise
3) By Organization Size: Small And Medium Enterprises (SMEs); Large Enterprises
4) By Application: Government And Defense; Banking, Financial Services and Insurance (BFSI); Information Technology And telecommunication; Healthcare; Education; Retail; Other Applications
Key Companies Mentioned: Microsoft Corporation; Verizon Communications Inc.; AT&T Inc.; Siemens AG; International Business Machines Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Microsoft Corporation
- Verizon Communications Inc.
- AT&T Inc.
- Siemens AG
- International Business Machines Corporation
- Cisco Systems Inc.
- Oracle Corporation
- Honeywell International Inc.
- SAP SE
- Stanley Black and Decker Inc.
- Zebra Technologies Corporation
- Trimble Inc.
- Datalogic S.P.A.
- Geotab Inc.
- QBurst
- Freshworks
- Impinj Inc.
- Fleet Complete
- Mojix Inc.
- Tenna LLC
- Savi Technology Inc.
- UpKeep Technologies
- Ubisense Group Plc.
- Zerion Software
- PcsInfinity
- Sortly
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | August 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 19.17 Billion |
Forecasted Market Value ( USD | $ 30.75 Billion |
Compound Annual Growth Rate | 12.5% |
Regions Covered | Global |