IoT Based Asset Tracking And Monitoring Market Size, Latest Trends, Analysis And Forecast 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

IoT Based Asset Tracking And Monitoring Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $559.73 billion In 2028 At A CAGR Of 31.0% :

The iot based asset tracking and monitoring market size has grown rapidly in recent years. It will grow from $4.66 billion in 2023 to $5.17 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to demand for supply chain efficiency, expansion in industrial iot, predictive maintenance implementation, focus on asset security, regulatory changes and standards.

The iot based asset tracking and monitoring market size is expected to see rapid growth in the next few years. It will grow to $8.29 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to sustainability and green initiatives, integration with ai and analytics, remote monitoring demand, retail and inventory management expansion, adoption in smart city initiatives. Major trends in the forecast period include integration of iot devices, demand for supply chain optimization, advancements in sensor technology, rise in industrial iot adoption , focus on fleet management.

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IoT Based Asset Tracking And Monitoring Market Major Segments
The iot based asset tracking and monitoring market covered in this report is segmented -
1) By Connectivity Type: Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS, Other Connectivity Types
2) By Technology: Device Management, Application Management, Network Management
3) By Application: Livestock Monitoring, Automotive, Railways, Aviation, Manufacturing, Cold Chain Monitoring, Other Applications

Key Driver - Surging Demand For Intelligent Solutions Sparks Growth In IOT-Based Asset Tracking And Monitoring Market

The growing demand for advanced monitoring solutions is expected to propel the growth of the IoT-based asset tracking and monitoring market. Smart monitoring solutions and devices are products integrated with intelligence technologies like sensor networks that gather data from the environment. These IoT-based asset tracking and monitoring technologies integrate IoT and automation into consumer devices to make them work intelligently. These technologies track the location and status of assets and equipment, allowing real-time visibility into critical asset locations. Such integrated and intelligent technology demand increases the use of IoT-based asset tracking and monitoring due to the growing importance and concern about safety, security, and convenience. For instance, in an article published by McKinsey & Company, a management consulting company, the global number of IoT-connected devices is expected to increase to 43 billion by 2023, nearly tripling from 2018. Therefore, the growing demand for advanced monitoring solutions will drive the IoT-based asset tracking and monitoring market.

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Prominent Trend - Technological Innovation Takes Center Stage, IOT-Based Asset Tracking And Monitoring's Key Trend

Technological advancement is a key trend gaining popularity in the IoT-based asset tracking and monitoring market. Major companies operating in IoT-based asset tracking and monitoring are focused on providing technologically advanced solutions to strengthen their market position. For instance, in April 2021, Sierra Wireless, a Canada-based communications equipment company, launched Acculink Cargo, a new managed IoT solution for asset tracking. Acculink Cargo allows firms to avoid shipping delays, minimize dwell time, protect against theft, and troubleshoot environmental factors resulting in asset damage.

IoT Based Asset Tracking And Monitoring Market Players
Major companies operating in the iot based asset tracking and monitoring market report are Quectel Wireless Solution Co. Ltd., Fibocom Wireless Inc., Sierra Wireless Inc., Telit Corporate Group, u-blox AG, Sequans Communications S.A., Nordic Semiconductor ASA, GosuncnWelink Corporation, Laird Connectivity LLC, Thales Group, Semtech Corporation, Mediatek Inc., Analog Devices Inc., HiSilicon Technologies Co. Ltd., Skyworks Solutions Inc., MeiG Smart Technology Co. Ltd., NXP Semiconductors N.V., Infineon Technologies India Private Ltd, STMicroelectronics N.V., Texas Instruments Incorporated, Samsung Electronics Co.Ltd., LG Electronics Inc., Micron Technology Inc., SMART Modular Technologies Inc., Kingston Technology Company Inc., Western Digital Corporation, Seagate Technology plc, Renesas Electronics Corporation, Panasonic Holdings Corporation, Toshiba Corporation

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Largest And Fastest Growing Region In The Market
North America was the largest region in the IoT-based asset tracking and monitoring market share in 2023. The regions covered in the iot based asset tracking and monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. IoT Based Asset Tracking And Monitoring Market Report Structure
3. IoT Based Asset Tracking And Monitoring Market Trends And Strategies
4. IoT Based Asset Tracking And Monitoring Market - Macro Economic Scenario
5. IoT Based Asset Tracking And Monitoring Market Size And Growth
…..
27. IoT Based Asset Tracking And Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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