Asset Tracking Global Market to 2028: Asset Tracking Solutions are Becoming Increasingly More Attractive for Sub-$1,000 Book Value Assets

DUBLIN, April 17, 2023 /PRNewswire/ -- The "Global Asset Tracking Market by Infrastructure (Platform, Software, Services), Connection Type, Mobility (Fixed, Portable, Mobile), Location Method (GPS, Beacons, RFID, Others), Solution Type, Supporting Technology and Industry Verticals 2023-2028" report has been added to ResearchAndMarkets.com's offering.

This report evaluates asset tracking technologies, solutions, and the overall asset management and logistics ecosystem including major players, strategies and market positioning. The report evaluates the impacts of use case-specific considerations in terms of asset tracking technology and solution selection.

The report analyzes the asset tracking market by asset value including low, medium, and high-value assets. The report provides analysis and forecasts by technology, components, infrastructure, solutions and much more. This includes analysis and forecasts for asset tracking globally, regionally, and by major countries from 2023 through 2028.

Companies Mentioned

• Abeeway (Actility)
• Actsoft Inc.
• Advanced Tracking Technologies Inc. (Advantrack)
• AHRMA
• Alphabet International GmbH
• Apptricity
• Arvento Mobile Systems
• ASAP Systems
• AssetPanda
• Astrocast
• AT&T
• Azuga (Bridgestone Company)
• Blackberry (Radar, QNX)
• Blue Tree Systems (ORBCOMM)
• Blue Yonder Group Inc.
• Bosch Connected Devices and Solutions GmbH
• Brilliant Info Systems Pvt. Ltd.
• CalAmp
• Chekhra
• ClearPath GPS Inc.
• CLS (Collecte Localisation Satellites)
• Datalogic S.P.A
• DriveFactor (CCC Information Services Inc.)
• Entigral Systems Inc.
• Epicor Software Corporation
• EquipmentShare
• Fi (Barking Labs)
• Findster Technologies
• Fleet Complete
• Fleet Safety International (FSI)
• Fleetilla LLC
• Fleetistics
• FleetManager
• FleetMind (Safe Fleet Holdings)
• Fleetup
• Freshworks
• Geotab Inc.
• GigaTrack
• Global Satellite Engineering (GSAttrack)
• Globalstar
• Go Fleet
• GPS Insight
• GPS Trackit Communications LLC
• Gurtam
• Hiber B.V.
• Holman Inc.
• Honeywell International Inc.
• IBM Corporation
• Impinj Inc.
• Inseego Corp.
• Intouch GPS (GPSTrackit)
• Iridium Communications Inc.
• Jolly Technologies Inc.
• Kineis
• Litum IoT
• LocoNav
• Lowry Solutions
• Lytx Inc.
• M2M in Motion
• Microsoft Corporation
• Mix Telematics
• Mojix Inc.
• Momentum IoT Inc.
• mOOvement
• Myriota
• NexTraq (Michelin)
• NimbeLink (Airgain Inc.)
• Northrop Grumman
• Omnitracs
• OnAsset Intelligence Inc.
• Oracle Corporation
• ORBCOMM
• Ovinto
• Particle Industries Inc.
• PassTime
• PcsInfinity
• Pedigree Technologies
• PTC (ThingWorx)
• And Many More Companies!

Select Report Findings:

• Global asset tracking market will reach $72.4B by 2028, growing at 18.3% CAGR
• Global asset tracking market for AI-embedded devices to grow at 33.1% through 2028
• While fleet comprises over 77% of the market, non-fleet asset tracking is growing 18% faster
• Asset tracking solutions are becoming increasingly more attractive for sub-$1,000 book value assets
• The asset management and logistics market will witness considerable vendor consolidation through 2030
• Leading companies will integrate asset management, logistics and connected-device security as combined solutions
• IoT supported asset tracking market will account for over 90% of all connected enterprise and industrial solutions by 2030

This report also provides an analysis of both fleet-related asset tracking and non-fleet asset tracking markets. Fleet tracking market analysis includes segmentation by IoT-enabled fleet tracking. In terms of non-fleet asset tracking, the report evaluates the market for both living and nonliving things, which have completely different characteristics.

In addition, the report includes market analysis by major asset tracking technologies including barcodes, GPS, RFID, sensors and IoT-based asset tracking. The report evaluates use cases for each technology and provides a market outlook assessment and forecasts for each. For example, the report identifies market opportunities for the slap-and-track RFID based tracking segment.

Additional Report Coverage Details

Analysis and forecasts by infrastructure such as asset tracking by software, which includes: Cost Management, Audit Management, Procurement Management, Condition Monitoring, Inventory Management, and more. This report evaluates the market for asset tracking technology components including M2M Communication, Embedded, On-board and Remote Computing Systems.

Assesses the impact of AI (including machine learning, image and pattern recognition, neural networking, and more), blockchain, and big data (including storage and data analytics) in support of asset tracking solutions. The report also evaluates cloud (including central and edge computing) vs. non-cloud-based solutions.

Evaluates asset tracking by category, such as fleet management. This is further broken down by land and non-land vehicles and vehicle types with great details for commercial trucks, vans, cars, and special-purpose vehicles.

In terms of non-roadway vehicles, the report assesses aviation, railway, and water-based vehicle market potential. For the aviation market, it includes asset tracking for planes, helicopters, and ground support equipment. The report also analyzes the non-fleet tracking market including assets in smart buildings and smart workplaces.

Forecasting for the aforementioned as well as by region and country for market sizing by revenue as well as unit deployment from 2023 through 2028. This includes quantitative data and projections with market segmentation by technology, technology components and integration, infrastructure, connection type, range of mobility, location requirements, and by industry verticals.

In addition, the report includes analysis and forecasts for the RFID-enabled `slap-and-track` market, which enables fast and easy tracking for many use cases ranging from shipping to asset loss prevention.

Market analysis and forecasting for the RFID-enabled `slap-and-track` asset tracking market including solutions by type, implementation, assets, industries, and regions.

Asset Tracking Market Constraints and Opportunities

The market remains constrained by a relatively low number of enterprise-connected assets across certain important asset classes. Leading asset tracking solution companies are focusing on the asset value to a business or governmental organization rather than the book value of the asset itself.

A consultative marketing/sales approach is necessary to inform enterprises, first of the value of interconnecting business assets, and secondly, demonstrative asset tracking outcomes that bring value straight to the bottom line.

However, the overall asset tracking market has witnessed substantial economies of scale improvements in recent years due to inexpensive connectivity and machine-to-machine communications equipment and services. Increased penetration and usage of advanced IoT solutions leveraging M2M and other supporting technologies enable anytime, anywhere, and any type of asset tracking.

In addition, improved economies of scale and advancements in miniaturization and communications have made low-value asset tracking more practical, expanding the range of potential industries and asset types. This is exemplified by the growing trend for RFID-based `slap-and-track` solutions for shipping, supply chain management, and enterprise logistics such as tracking low to medium-value assets such as business equipment and supplies.

Fleet and Non-Fleet Asset Tracking Market

There are substantial factors to consider when approaching the broader asset tracking market, which includes asset class, value, and degree of mobility. Whereas asset tracking has historically been largely fleet-focused (commercial trucks, trailers, vans, and cars), there is great potential for expansion towards non-vehicle related assets.

This is exemplified by the growing trend for RFID-based "slap-and-track" solutions for shipping, supply chain management, and enterprise logistics such as tracking low to medium-value assets such as business equipment and supplies. Slap-and-track asset tracking solutions are useful for more than just shipping-related use cases as they are also used for connected-asset monitoring and loss prevention.

For example, business equipment and tools may be tracked to prevent loss (such as leaving behind at a job site) and to ensure that assets are where they need to be when they are needed.

These types of solutions are part of the rapidly growing asset tracking market trend involving the business need for cost-effective low-value asset management. Not just relegated to consumer-oriented use cases such as package delivery, slap-and-track is also an important asset tracking solution for enterprise, industrial, and government logistics and supply chain management.

Asset Tracking Market by Asset Value

Leading asset tracking solution companies are focusing on the asset value to a business or governmental organization rather than the book value of the asset itself. A consultative sales approach is necessary to inform enterprises, first of the value of interconnecting business assets, and secondly, demonstrative asset tracking outcomes that bring value straight to the bottom line.

The advent of advanced Internet of Things (IoT) solutions leveraging M2M and other supporting technologies enables anytime, anywhere, any type of asset tracking. In addition, advancements in miniaturization and communications have made lower value asset tracking more practical, expanding the range of potential industries and asset types.

Technology Integration in the Asset Tracking Market

The asset tracking market leverages a wide range of technologies, which are typically utilized based on a few key factors including cost, availability, and form factor of the asset to be tracked. While historically disparate technologies have been implemented on a silo basis, we see the asset tracking market evolving to a more integrative approach.

This will be necessitated by business assets becoming increasingly more connected, driving enterprise organizations to desire more seamless asset management across asset classes/types, cohesive tracking between assets, and an expansive view of logistics.

There are additional opportunities for technology integration, such as leveraging Artificial Intelligence (AI) for enhanced decision making. There are many roles that AI may play, ranging from machine learning and analytics to improved cybersecurity for connected enterprise assets.

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Asset Tracking Technology and Application Analysis
3.1 Asset Tracking Technologies
3.2 Asset Tracking Infrastructure and Services
3.3 Asset Tracking Solutions Analysis
3.4 Video Telematics in Fleet Tracking
3.5 Role of AR/VR/Metaverse
3.6 RFID Slap and Track Solution
3.7 Living Creature Tracking
3.8 Digital Twin Solution Analysis
3.9 Asset Tracking Application Analysis
3.10 Asset Tracking Deployment Analysis

4. Asset Tracking Company Analysis

5. Asset Tracking Market Analysis and Forecasts 2023-2028
5.1 Asset Tracking Market 2023-2028
5.2 Asset Tracking Deployment Unit 2023-2028
5.3 IoT Enabled Asset Tracking Market 2023-2028
5.4 IoT Enabled Asset Tracking Deployment Unit 2023-2028
5.5 Video Safety in Fleet Tracking Market 2023-2028
5.6 Emerging Technologies in Asset Tracking Market 2023-2028
5.7 Slap and Track Solution in Asset Tracking Market 2023-2028
5.8 Living Creature Tracking Market 2023-2028

6. Conclusions and Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/wutnec

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