Analysis of the North American Mobile Asset Tracking Market
NEW YORK, April 12, 2016 /PRNewswire/ -- Key Findings
The North American mobile asset tracking (MAT) market has evolved into two distinct iterations, with the first—company equipment tracking—in the process of becoming a commoditized, location-focused, low-margin solution. The second iteration—in-transit cargo monitoring—incorporates a more sophisticated range of sensor technology, appeals to a broader collection of vertical industries, and is not under the same price and margin pressures.
- MAT users are experiencing a number of hard-dollar benefits, including new sources of revenue, savings across a number of cost categories, and quicker asset recovery in the case of theft or misplacement. As a result, customers report high satisfaction and more than half plan to further expand their deployments.
- Multiple factors drive MAT market growth, including wireless carrier participation as resellers, decreasing hardware device costs, and strong customer interest in the convenience and affordability of prepackaged ("semi-custom") apps.
- MAT remains a fragmented market that relies upon its channel and technology partnerships to deliver the peace-of-mind of an end-to-end solution bundle to the customer. The ideal one-stop-shop solution incorporates software, hardware, network connectivity, security, hosting, and any needed customer support services.
MAT vendors are keenly aware that their product pairs naturally with other technology solutions, such as fleet management services and other machine-to-machine (M2M) capabilities, and encourage their sales personnel to identify and promote these product adjacencies.
- While much of the cargo monitoring hardware and software can be standardized, this particular MAT solution category is not a cookie-cutter industry. Innovators are becoming more focused on creating a flexible and modular product architecture that provides core capabilities but also allows add-on features that meet a company's or industry's unique requirements.
- As with other mobile enterprise applications, asset tracking and monitoring solutions provide an abundance of data that can be leveraged by the customer to create new services and revenue streams. Vendor leaders focus not just on the immediate product deployment, but also on helping their customers think creatively about how to use (and monetize) the data and visibility that MAT generates.
- Vendor brand awareness remains low in this market, further emphasizing the need for select channel partnerships with strongly branded resellers.
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