What Is Driving Global Asset Tracking Software Market Growth in 2025: The Role of Rising Transportation And Logistics Sectors Drive Asset Tracking Software Market Growth

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How Large Will the Asset Tracking Software Market Size By 2025?
The market size for asset tracking software has seen significant expansion in the past few years. From $19.17 billion in 2024, it will increase to $21.51 billion in 2025 with a compound annual growth rate (CAGR) of 12.2%. The notable growth in the historical period can be linked to the rising demand for live data analytics, improvement in tracking system precision, decrease in operation expenses, growing need for effective supply chain management, and the proliferation of cloud computing services.

How Big Is the Asset Tracking Software Market Size Expected to Grow by 2029?
In the coming years, the market size for asset tracking software is predicted to rapidly expand. It's projected to reach $33.59 billion by 2029, with a compound annual growth rate (CAGR) of 11.8%. Factors contributing to this predicted growth during the forecast period include advancements in the healthcare sector, an escalating requirement for distant asset tracking, the rising significance of predictive maintenance, the emergence of smart cities, and improvements in cybersecurity protocols. Key trends for this period involve the integration of IoT and AI technologies, the use of cloud-based solutions, the combination with cutting-edge technologies such as blockchain, the application of mobile-based tracking options, and the automation of asset management.

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Which Key Market Drivers Powering Asset Tracking Software Market Expansion and Growth?
The expansion of the transport and logistics industries is speculated to act as a catalyst for the augmentation of the asset tracking software market. These sectors strive to ensure the smooth movement of people and commodities via several transport mediums, which plays a pivotal role in global commerce and economic activities. The surge in these industries is attributed to the rise in globalisation, expansion of e-commerce, technological strides, and the necessity for efficient supply chain management. Asset tracking software is a vital tool in these sectors, providing real-time observation and control over vehicles, shipments, and inventory, thereby streamlining operations, enhancing efficiency, and increasing safety. For example, the Bureau of Transportation Statistics, a component of the United States Department of Transportation, stated that in 2022, the transport sector was responsible for 9.0% of U.S. GDP, showing an upward trend from 8.4% in 2021. Hence, it is evident that the burgeoning transport and logistics industries are fuelling the growth of the asset tracking software market.

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Which Fast-Growing Trends Are Poised to Disrupt the Asset Tracking Software Market?
The focus of important players in the asset tracking software market has gravitated towards IoT integration, including Internet of Things asset-tracking solutions, to provide enhanced real-time visibility and amplify efficiency in tracking and handling assets across diverse sectors. Such IoT asset tracking solutions employ Internet of Things technology to keep track and handle assets in real-time, utilizing connected devices to escalate efficiency and streamline processes. For exemplification, Globalstar, Inc., an American company engaged in satellite communications, unveiled GSatSolar, alongside Global Satellite Engineering (GSE), a company specializing in the design and development of machine-to-machine, satellite, and IoT solutions in December 2023. GSatSolar is a compact, robust, and cost-efficient IoT asset-tracking instrument that boosts value-added resellers (VARs) and clients' tracking software proficiency by facilitating near-real-time tracking of additional assets. By virtue of its satellite-powered design, conceived expressly for remote IoT operations, GSatSolar augments the potential for asset tracking, sanctioning more credible data collection in the field, and possibly enhancing efficiency while promoting autonomous data collection in distant areas.

What Are the Emerging Segments in the Asset Tracking Software Market?
The asset tracking softwaremarket 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

Subsegments:
1) By Software: On-Premises Software, Cloud-Based Software, Mobile Asset Tracking Software, Real-Time Location Systems (RTLS) Software, Barcode Or RFID Asset Tracking Software
2) By Service: Installation And Integration Services, Training And Support Services, Consulting Services, Maintenance And Upgrades Services

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Who Are the Global Leaders in the Asset Tracking Software Market?
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

Which are the Top Profitable Regional Markets for the Asset Tracking Software Industry?
North America was the largest region in the asset tracking software market in 2024. The regions covered in the asset tracking software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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