Global Tracking-as-a-Service Market to Grow from $1.34 Billion to $3.7 Billion by 2027

News provided by

Aug 29, 2022, 09:45 ET

DUBLIN, Aug. 29, 2022 /PRNewswire/ -- The "Tracking-as-a-Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global tracking-as-a-service market reached a value of US$ 1.34 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 3.7 Billion by 2027, exhibiting a CAGR of 17.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor

Tracking as a service is a cloud-based solution used by organizations to track and monitor operations and day-to-day business processes. It is deployed on-premises or through cloud platforms and is commonly used for remote monitoring of goods and products. Tracking-as-a-Service offers enhanced scalability, data collection, mobile support, reporting and logging, data management, process mapping and real-time monitoring to improve organizational performance, decision-making and efficiency. It aids in increasing security, enhancing customer service and overall cost-effectiveness. As a result, tracking-as-a-service finds extensive application across various industries, such as healthcare, manufacturing, e-commerce, retail, transportation and logistics

Global Tracking-as-a-Service Market Trends:

Significant growth in the transportation and logistics industry across the globe is creating a positive outlook for the market. Tracking-as-a-service solutions are widely adopted by organizations that offer ridesharing and car rental services to improve vehicle maintenance, prevent delay and provide enhanced safety to the consumers.

Additionally, the widespread utilization of electronic monitoring and tracking systems across enterprises to track the exchange of information and prevent unauthorized access to sensitive data among employees is favoring the market growth. Moreover, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), global positioning system (GPS) tracking and real-time monitoring solutions, are providing a thrust to the market growth.

These technologies assist in locating containers, tracking stolen goods, maintaining driver safety and detecting fraudulent activities. In line with this, the widespread product adoption in the medical industry to monitor wearable medical devices and offer timely assistance in case of emergencies is positively impacting the market growth. Other factors, including the implementation of various government initiatives to install GPS tracking systems in novel vehicles, along with the increasing product utilization to keep track of portable devices, are anticipated to drive the market toward growth

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global tracking as a service market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, type, asset type, enterprise size and end use industry

Breakup by Component:

Software
Service

Breakup by Type:

Cloud-based
On-premises

Breakup by Asset Type:

Electronics and IT Assets
In-Transit Equipment
Manufacturing Assets
Others

Breakup by Enterprise Size:

Large Enterprises
Small and Medium-sized Enterprises

Breakup by End Use Industry:

Retail
Manufacturing
E-commerce
Transportation and Logistics
Healthcare
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

5 Global Tracking as a service Market

6 Market Breakup by Component

7 Market Breakup by Type

8 Market Breakup by Asset Type

9 Market Breakup by Enterprise Size

10 Market Breakup by End Use Industry

11 Market Breakup by Region

12 SWOT Analysis

13 Value Chain Analysis

14 Porters Five Forces Analysis

15 Price Analysis

16 Competitive Landscape

Companies Mentioned