Tracking-as-a-service Market Expected to Garner $21.5 Billion by 2020 at a CAGR of 25.0% | Zebra Technologies Corp., Verizon Communications, Geotab Inc, etc.

According to the current analysis of Reports and Data, the global Tracking-as-a-service Market was valued at USD 3.3 Billion in 2018 and is expected to reach USD 21.5 Billion by year 2027, at a CAGR of 25.0%.

Tracking-as-a-service can be can be defined a solution based on the cloud or on premise where it helps industries to track their day to day business processes. Tracking-as-a-service enables to efficiently build, monitor and evaluate workflows within a company. Therefore, the service is critical in ensuring that companies achieve their objectives more efficiently by obviously identifying the procedures that span the activities of the company. Tracking-as-a-service is essential for any company as it focuses on enhancing the financial efficiency of the organization by optimizing and managing different procedures.

In market segmentation by manufacturers, the report covers the following companies-
Motorola Solutions, Wabco (Asset Trackr), AT&T Inc., Zebra Technologies Corp., Verizon Communications, Geotab Inc., Blackline Safety Corp., Spider Tracks Limited, and Honeywell International, Inc.

Tracking-as-a-service helps to map daily procedures to ensure decreased inefficiencies, miscommunication and other errors in the workplace. Organizations need the software to provide routing engine capacities for routing duties from person to person, while a business process tracking software provides complete process lifecycle features including process modelling, monitoring, and simulation. A tracking-as-a-service include optimization instruments, user-friendly modelling, system integration instruments, business activity monitoring dashboards, case and task management skills for end user

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Tracking-as-a-service offer different capabilities such as mobile support, reporting and logging, integration with the existing system and legacy software, analytics, business process optimization, scalability, data collection, data management, process mapping, and real-time monitoring. Tracking-as-a-service enables you to look at the user shopping cart of thousands of customers. By gathering receipts for both real-world and online retail purchases (as well as receipts from in-app and full-game phone purchases in the games sector), we can provide accurate, item-level purchase details related to purchasers and their demographics – in the category, brand and item level. It tracks, codes, aggregates and tracks each product shipped to each of its operators from a critical mass of leading food service broadcasters. It provides in-depth insights into categories, brands, products, product characteristics and operator segments with trends.

Segments covered in the report:
For the purpose of the study, this Reports and Data have segmented the Global Tracking-as-a-service Market on the basis of application, end user and the regional outlook:

Service Type (Revenue, USD Million; 2020–2027)
• Platform-as-a-service (PaaS)
• Tracking-as-a-service (SaaS)

Type of Deployment (Revenue, USD Million; 2020–2027)
• Cloud
• On-Premise

End User (Revenue, USD Million; 2020–2027)
• Retail & ecommerce
• Manufacturing
• Transportation and Logistics
• Healthcare
• Others

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Regional Outlook: (Revenue, USD Million; 2020–2027)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Further key findings from the report suggest:
The tracking-as-a-service market is fastest growing at a CAGR of 9% in Asia Pacific owing to increasing number of connected devices and location services in developing countries such as India and China

SaaS based services segment is accounted to be the leading segment which is valued at USD 2.0 Billion in 2019 in the Tracking-as-a-service Market

North America is the largest region with a share of 34.06% due to the higher adoption of 5G technologies and growing mobile penetration in Canada and US

Cloud deployment segment is the fastest growing at a CAGR of 28.3% due to the benefits such as availability, scalability, flexibility, and security in the Tracking-as-a-service Market

Europe is expected to account for the 29.28% of the global Tracking-as-a-service Market due to the increasing demand for location and tracking services in European countries such as U.K., France, Japan, and Germany

Manufacturing end user to account for the largest market size in the Tracking-as-a-service Market during the forecast period. Manufacturing companies are gradually implementing these services to monitor the day to day operations

Artificial Intelligence based tracking is the latest innovation in the global Tracking-as-a-service Market.

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Geographically, the report covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The following years are used in this study to estimate the size of the Tracking-as-a-Service market:
Historical year: 2017-2018
Base year: 2019
Estimated year: 2027
Forecast years: 2020 to 2027

Objectives of the report:

1. To calculate the market size, both value and volume, and CAGR for the base year and the forecast period.
2. To study the current impact of COVID-19 on leading segments of the industry and to project changes in the sector due to the pandemic.
3. To study the technological developments in the industry in recent years, and project the impact of the pandemic on technological advancements and spending by companies.
4. To study the key trends observed in the historical analysis and predict future trends.
5. To perform a regional analysis by studying market concentration in the leading regions with major consumer bases.
6. To assess the region that is speculated to grow at a significant pace in the coming years and the key elements that are contributing to its progress.
7. To highlight the existing growth opportunities, challenges, threats, drivers, and restraints that are expected to affect the industry in the coming years.
8. To profile leading manufacturers in the industry, along with their product offerings and strategic initiatives.

The Tracking-as-a-Service Market report is updated with the latest economic scenario with the value, drivers, restraints, production capacity, demand and supply ratio, import/export status, market growth rate, and others. Additionally, the report also undertakes SWOT examination, Porter’s five forces analysis, speculation attainability investigation, and venture return investigation.

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