2025-2034 Tracking As A Service Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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How Large Will the Tracking As A Service Market Size By 2025?
In recent years, the market size of tracking as a service has seen rapid expansion. It is projected to rise from $4.48 billion in 2024 to $5.24 billion in 2025, indicating a compound annual growth rate (CAGR) of 16.9%. Factors contributing to this growth during the historic timeframe include increased need for supply chain transparency, wider uptake of fleet management solutions, heightened asset tracking regulations, the expansion of the e-commerce and retail logistics sectors, as well as a growth in the use of third-party logistics providers.

How Big Is the Tracking As A Service Market Size Expected to Grow by 2029?
The market for tracking as a service is projected to see a swift expansion in the coming years, rising to a value of $9.68 billion in 2029 with a compound annual growth rate (CAGR) of 16.6%. This growth in the future period could be due to the increasing incorporation of tracking services within smart city projects, heightened usage of electric and self-driving vehicles that necessitate monitoring, a surge in the need for real-time tracking for healare logistics, growing focus on managing sustainability and carbon emissions, and an increased reliance on cross-border trading and adherence to regulations. Some noteworthy trends during the forecast period are an escalating use of artificial intelligence for improving route planning, a rising adoption of blockchain to securely manage tracking data, a growing integration of edge computing for instant data analysis, a surge in using low-power wide-area networks for affordable tracking solutions, and an increasing application of digital twins for simulating logistics.

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Which Key Market Drivers Powering Tracking As A Service Market Expansion and Growth?
The surge in e-commerce is propelling the market because of the growing demand for convenience and tracking solutions.

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Which Fast-Growing Trends Are Poised to Disrupt the Tracking As A Service Market?
Leading firms operating in the 'tracking as a service' market are directing their efforts towards the creation of innovative solutions, such as monitoring platforms rich in sensors, to maintain a competitive edge. These platforms gather data in real-time from connected devices and use intelligent analysis to uncover practical insights. For example, Sensata Technologies, an industrial technology company based in the U.S., unveiled Sensata INSIGHTS in January 2023, a comprehensive IoT platform providing asset tracking, telematics, and data analytical solutions. This platform aims to enhance operational transparency and offer valuable insights in fields ranging from transportation and logistics to construction. Sensata INSIGHTS fuses proprietary hardware and software with the power of artificial intelligence (AI) and machine learning to transform raw sensor-dependent data into actionable, high-value intelligence. The platform provides thorough visibility through every step of the supply chain, encompassing logistics, telematics, and on-site monitoring, making it possible to gain deeper insights and improved data quality.

What Are the Emerging Segments in the Tracking As A Service Market?
The tracking as a service market covered in this report is segmented

1) By Component: Software, Services
2) By Deployment: On Cloud, On-Premise
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
4) By End-User: Transportation And Logistic, Manufacturing, Healare, Food And Beverage, Retail, IT And Telecom, Other End-Users

Subsegments:
1) By Software: Application Management, Security Management, Network Monitoring, Data Analytics, Configuration Management
2) By Services: Professional Services, Managed Services, Consulting Services, Support And Maintenance, Integration And Deployment

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Who Are the Global Leaders in the Tracking As A Service Market?
Major companies operating in the tracking as a service market are Verizon Communications, AT&T Inc., Honeywell International Inc., Stanley Black And Decker Inc., Motorola Solutions, Rockwell Automation, PCCW Enterprises Limited, Zebra Technologies Corp, Trimble Inc., Infor, Geotab Inc., Samsara Inc., Mojix, Ituran Location and Control Ltd, Overhaul, Midmark Co., Impinj Inc, Powerfleet Inc, Blackline Safety Corp., Ezo, Micromain, Finale Inventory, and Sortly Inc.

Which are the Top Profitable Regional Markets for the Tracking As A Service Industry?
North America was the largest region in the tracking as a service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in tracking as a service report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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