Asset Tracking IoT Device Market to Triple by 2022

Agriculture, retail, transportation, and consumer apps to drive widespread growth

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Aug 02, 2017, 08:40 ET

CAMPBELL, Calif., Aug. 2, 2017 /PRNewswire/ -- In their most recent report, Mobile Experts released exclusive analysis on Asset Tracking IoT Devices. The report follows multiple vertical markets, illustrating future trends in detail and includes descriptions of transportation, healthcare, agriculture, industrial, retail, and consumer markets.

Technologies for each case are evaluated in detail, including Bluetooth, UWB, Wi-Fi, 802.15.4, LPWA, 2G, LTE, NB-IoT, 5G, Satellite, Infrared, Ultrasound, NFC, and RFID.

Mobile Experts releases exclusive analysis on Asset Tracking IoT Devices

Over the past 3 years, technology changes have started to transform the market. Unlicensed LPWA, LTE-M, and NB-IoT dramatically improve long-range communications with inexpensive modules that can run for years on a small battery. Other improvements in Bluetooth and UWB technology also improve precision and range for indoor location of devices.

"Basic tracking technologies, like bar codes and RFID, are used heavily in retail and logistics areas today. Around 9.6 billion RFID tags were used in 2016…despite the limitations in range and lack of real-time tracking capability. This marks an important baseline in Asset Tracking because low-cost RFID or bar-code tracking represent indirect competition for investment in enterprise markets….and RFID cost is only $0.10 to $0.50 per tag," commented Principal Analyst Joe Madden.

The report tracks and explains a variety of highly applicable markets, including transportation, healthcare, agriculture, industrial, retail, and consumer markets. Roughly 10 million NB-IoT bicycles will be deployed in China this year. LoRa devices will be found on pallets, trucks, fork lifts, and other key assets. Hospitals that use Wi-Fi to track major assets will have new options for tracking medicines, organs, and other highly critical items. Cattle ranchers can increase yield by as much as 10-20% by preventing theft, injury, or other problems with the herd.

"Overall, we expect annual shipments of Asset Tracking IoT devices to grow from 22 million to 70 million by 2022," remarked Principal Analyst Joe Madden. "What's more, about half of these devices will send data through a Cloud-based service provider, driving service revenue growth from $2.2B in 2016 to $7.5B in 2022."

About Mobile Experts Inc.:

Mobile Experts provides insightful market analysis for the mobile infrastructure and mobile handset markets. Our analysts are true Experts, who remain focused on topics where each analyst has 20 years of experience or more. Research topics center on technology introduction for radio frequency (RF) and communications innovation. Recent publications focus on Asset Tracking IoT Devices, Semiconductors for RRH, LTE-U, LPWA, RF Front Ends, DAS, Macro Base Station Transceivers, Small Cells, CRAN & VRAN, The Big Picture of IoT, Smart Utility Meters, https://mobile-experts.net/Home/Report/59 5G, and Mobile Edge Computing.