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IoT based Asset Tracking & Monitoring Market worth $14.32 billion by 2030, growing at a CAGR of 10.54% - Exclusive Report by 360iResearch
IoT based Asset Tracking & Monitoring Market | 360iResearch
The Global IoT based Asset Tracking & Monitoring Market to grow from USD 7.10 billion in 2023 to USD 14.32 billion by 2030, at a CAGR of 10.54%.
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The IoT based Asset Tracking and Monitoring includes a broad spectrum of technologies and applications designed to leverage Internet of Things (IoT) solutions to track and monitor physical assets. Continuous improvement in IoT technologies and infrastructure, such as enhanced connectivity and the development of more sophisticated sensors, drives the market growth. IoT based asset tracking and monitoring solutions significantly reduce operational costs and enhance efficiency by automating processes, providing real-time data for decision-making. With the globalization of supply chains and the rise in consumer expectations for prompt delivery and service, the demand for real-time asset tracking and condition monitoring has surged. However, the collection and transmission of vast amounts of data raise concerns regarding data privacy and security, potentially hindering adoption among businesses wary of cyber threats. The challenge of integrating advanced IoT solutions with existing legacy systems can be a significant barrier, requiring substantial investment and technological expertise. Moreover, integrating AI and Machine Learning technologies with IoT-based solutions offers immense opportunities for predictive analytics, enabling businesses to anticipate failures and schedule timely maintenance, further optimizing asset utilization. Exploring new applications and verticals, such as smart agriculture for livestock tracking and crop monitoring, are expected to drive new revenue streams and expand market reach.
In the Americas region, the U.S. has led the adoption of IoT for asset tracking, driven by its robust logistics, manufacturing, and healthcare sectors. Notable initiatives, including investments in smart city projects and supply chain visibility tools, are driving significant growth in the Americas region. The European Union's stringent regulations on data protection and sustainability standards drive the market's direction in the EMEA region. Countries such as Germany and Sweden stand out for their advanced manufacturing sectors, leading in adopting Industrial IoT (IIoT) practices. The Middle East region presents a mixed picture, with the Gulf countries (notably the UAE and Saudi Arabia) advancing rapidly in adopting IoT for infrastructure and asset management, primarily driven by smart city projects. The primary consumer need in the African region is for cost-effective and scalable solutions that can address the challenges of harsh environmental conditions and remote monitoring. In the APAC region, Chinese consumers prioritize efficiency and integration capabilities, leading to significant investments in developing IoT protocols and networks such as NB-IoT. Japan's focus on quality and innovation drives its adoption of IoT asset tracking, notably in automotive and electronics manufacturing. India's IoT adoption in asset monitoring is burgeoning, particularly in agriculture, healthcare, and transportation, driven by the need for operational efficiency and the government's "Digital India" campaign.
Market Segmentation & Coverage:
This research report categorizes the IoT based Asset Tracking & Monitoring Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Automatic Lighting Controls, Bluetooth Low Energy Transmitters, CCTV Systems, Energy Sensor Trackers, GPS Tracking Tags, Smart Locks, and Smoke & Monoxide Detectors. The Automatic Lighting Controls is projected to witness significant market share during forecast period.
Based on Connectivity, market is studied across Bluetooth, Cellular, Global Navigation Satellite System, Long Range, NarrowBand-Internet of Things, SigFox, Ultra-Wideband, and Wi-Fi. The Ultra-Wideband is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Agriculture, Construction, Education, Healthcare, Law Enforcement, Logistics, and Manufacturing. The Law Enforcement is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 40.17% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the IoT based Asset Tracking & Monitoring Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the IoT based Asset Tracking & Monitoring Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the IoT based Asset Tracking & Monitoring Market, highlighting leading vendors and their innovative profiles. These include 3d Signals, Accruent, LLC, ALPS ALPINE CO., LTD., Amazon Web Services, Inc., Analog Devices, Inc., Applied Satellite Technology Ltd, AT&T Inc., Avnet, Inc., Azuga Inc., Biz4Intellia Inc., Comarch SA, Cyient, Datacake GmbH, Edge Impulse Inc., ElastiSense, Euristiq, Fibocom Wireless Inc., FitMech Sp. z o.o., GosuncnWelink Corporation, HCL Technologies Limited, Hilti Corporation, Huawei Technologies Co., Ltd., Indio Networks, iottag, Laird Connectivity, Link Labs, MeiG Smart Technology Co., Ltd., Neoway Technology Co. Ltd., Nordic Semiconductor, Omnitracs, LLC, Oracle Corporation, Particle Industries, Inc., Quectel Wireless Solutions Co., Ltd., RAD Data Communications Ltd., Radiant RFID, LLC, Samsara Inc., Semtech Corporation, Sequans Communications, Skyworks Solutions, Inc., SmartMakers GmbH, Sony Semiconductor Solutions Corporation, Tata Communications, TEKTELIC Communications Inc., Telit Corporate Group, Thales Group, u-blox AG, VVDN Technologies, Wireless Links Inc., and WIXTrac.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. IoT based Asset Tracking & Monitoring Market, by Component
7. IoT based Asset Tracking & Monitoring Market, by Connectivity
8. IoT based Asset Tracking & Monitoring Market, by End-User
9. Americas IoT based Asset Tracking & Monitoring Market
10. Asia-Pacific IoT based Asset Tracking & Monitoring Market
11. Europe, Middle East & Africa IoT based Asset Tracking & Monitoring Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the IoT based Asset Tracking & Monitoring Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the IoT based Asset Tracking & Monitoring Market?
3. What is the competitive strategic window for opportunities in the IoT based Asset Tracking & Monitoring Market?
4. What are the technology trends and regulatory frameworks in the IoT based Asset Tracking & Monitoring Market?
5. What is the market share of the leading vendors in the IoT based Asset Tracking & Monitoring Market?
6. What modes and strategic moves are considered suitable for entering the IoT based Asset Tracking & Monitoring Market?
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