IoT Based Asset Tracking And Monitoring Market Technological Innovation with IoT, Market Share Insights, Growth Factors, and Demand Forecast

The new report published by The Business Research Company, titled "IoT Based Asset Tracking And Monitoring 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 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 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%.

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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.

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.

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

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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

Contents of the report:
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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