Asset Tracking Software Market Report 2024: Size, Share, Growth, Trends, Forecast 2033

The new report published by The Business Research Company, titled ""Asset Tracking Software Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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Rising Transportation And Logistics Sectors Drive Asset Tracking Software Market Growth
The growing transportation and logistics industries are expected to propel the growth of the asset tracking software market going forward. The transportation and logistics industries facilitate the efficient movement of goods and people across various modes of transportation, crucially supporting global trade and economic activities. The transportation and logistics industries are growing due to increasing globalization, e-commerce expansion, technological advancements, and the need for efficient supply chain management. Asset tracking software is instrumental in the transportation and logistics industries for real-time monitoring and managing vehicles, shipments, and inventory, optimizing operations, improving efficiency, and enhancing security. For instance, in December 2023, according to the Bureau of Transportation Statistics, which is part of the United States Department of Transportation, in 2022, the transportation sector represented 9.0% of the U.S. GDP, an increase from 8.4% in 2021 and 7.7% in 2020. Therefore, the growing transportation and logistics industries are driving the asset tracking software market.

IoT Integration Revolutionizing Asset Tracking Software Market
Major companies operating in the asset tracking software market are focusing on IoT integration, such as Internet of Things (IoT) asset-tracking solutions, to enhance real-time visibility and improve efficiency in monitoring and managing assets across various industries. IoT asset tracking solutions utilize Internet of Things technology to monitor and manage assets in real-time, leveraging connected devices for increased efficiency and streamlined operations. For instance, in December 2023, Globalstar, Inc., a US-based satellite communications company, launched GSatSolar in collaboration with Global Satellite Engineering (GSE), a US-based company that specializes in designing and developing machine-to-machine, satellite, and IoT solutions. It is a compact, durable, and cost-effective IoT asset-tracking device that enhances value-added resellers (VARs) and customers' tracking software capabilities by enabling near-real-time tracking of additional assets. Through its satellite-powered design tailored for remote IoT operations, GSatSolar expands the capacity for tracking assets, facilitating more reliable field data collection and potentially boosting efficiency while supporting autonomous data collection in remote areas.

The asset tracking software market covered in this report is segmented -
1) By Component: Software, Service
2) 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

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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

Contents of the report:
1. Executive Summary
2. Asset Tracking Software Market Report Structure
3. Asset Tracking Software Market Trends And Strategies
4. Asset Tracking Software Market - Macro Economic Scenario
5. Asset Tracking Software Market Size And Growth
…..
27. Asset Tracking Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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