The Worldwide IoT based Asset Tracking and Monitoring Industry is Projected to Reach $6.6 Billion by 2027

News provided by

Sep 08, 2022, 09:15 ET

DUBLIN, Sept. 8, 2022 /PRNewswire/ -- The "Global IoT based Asset Tracking and Monitoring Market by Connectivity(Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS), Application(Automotive, Manufacturing, & Cold Chain Monitoring), Region(North America, Europe, APAC, RoW) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The IoT-based Asset Tracking and Monitoring market is projected to reach USD 6.6 billion by 2027, growing at a CAGR of 11.3% from 2022 to 2027.

This report covers key applications, namely, livestock monitoring, automotive, railways, aviation, manufacturing, cold chain monitoring, and others in IoT based asset tracking and monitoring market. The Wi-Fi connectivity type in deploying IoT based Asset tracking and monitoring accounted for a whopping share of about 24% of the market in 2021.

By application, the market for cold chain monitoring segment is expected to hold about one-fifth market share during the forecast period

Cold chain monitoring devices are a valuable tool for fleets that move products that must be kept at a specific temperature or range throughout the transportation process, such as food, beverages, medicines, or other goods, to prevent damage or waste in the cold chain supply chain, the devices transmit real-time temperature data.

Temperature data loggers, also called cold chain monitoring devices, are wireless sensors that use IoT technology to deliver real-time temperature data. To aid cold chain managers and customers in understanding the temperature, these IoT-based asset tracking and monitoring devices are frequently installed in reefers, refrigeration units, or cold rooms.

Asia Pacific region is expected to grow at highest CAGR in the IoT-based Asset Tracking and Monitoring market during the forecast period

Asia Pacific is one of the major markets for chip and module manufacturing. The commercialization of IoT and its convergence across all the industries are estimated to be in the growth phase, especially in developing economies of Asia Pacific. The region has emerged as a global focal point for large investments and business expansion opportunities.

Asia Pacific is expected to witness substantial growth due to the region's high production and consumption of electronic devices. In addition, the presence of leading manufacturers of chips and modules is significantly driving the growth of the regional IoT-based asset tracking and monitoring market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Notable Growth Opportunities in Iot-Based Asset Tracking and Monitoring Market
4.2 Iot-Based Asset Tracking and Monitoring Market, by Connectivity Type
4.3 Iot-Based Asset Tracking and Monitoring Market, by Application
4.4 North America: Iot-Based Asset Tracking and Monitoring Market, by Application and Country
4.5 Iot-Based Asset Tracking and Monitoring Market, by Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Adoption of Cost-Effective and Intelligent Connected Devices and Sensors
5.2.1.2 Growing Use of Iot-Based Asset Trackers and Monitors in Manufacturing Companies
5.2.1.3 Increased Deployment of Cloud Computing Platforms
5.2.1.4 Growing Use of IoT Technologies in Factory Automation Attributed to Rising Safety Compliance
5.2.2 Restraints
5.2.2.1 Requirement for High Initial Capital Spending
5.2.2.2 Security Concerns Related to IoT Technologies
5.2.2.3 Lack of Interoperability and Standardization
5.2.3 Opportunities
5.2.3.1 Rising Adoption of Data Analytics and 5G Technologies in Automotive Sector
5.2.3.2 Supply Chain Optimization Using Iot-Based Asset Tracking and Monitoring Modules
5.2.3.3 High Benefits Associated with Warehouse and Logistics Management
5.2.3.4 Data Monetization Attributed to Ai and IoT Convergence
5.2.4 Challenges
5.2.4.1 Trade-Off Complications Related to Connectivity Technologies
5.2.4.2 Decline in Semiconductor Manufacturing due to COVID-19
5.3 Value Chain Analysis
5.4 Ecosystem Analysis
5.5 Revenue Shift and New Revenue Pockets for Iot-Based Asset Tracking and Monitoring Market
5.6 Porter's Five Forces Analysis
5.7 Key Stakeholders & Buying Criteria
5.7.1 Key Stakeholders in Buying Process
5.7.2 Buying Criteria
5.8 Case Study Analysis
5.9 Technology Analysis
5.10 Pricing Analysis
5.11 Patent Analysis
5.12 Key Conferences & Events Between 2022 and 2023
5.13 Tariff and Regulatory Landscape
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.13.2 Regulatory Landscape
5.13.2.1 Us Regulations
5.13.2.1.1 California Consumer Privacy Act
5.13.2.1.2 Service Organization Control 2
5.13.2.1.3 Anti-Cybersquatting Consumer Protection Act
5.13.2.2 EU Regulations
5.13.2.2.1 General Data Protection Regulation
5.13.3 Standards
5.13.3.1 Cen/Iso
5.13.3.2 Iso/Iec Jtc 1
5.13.3.2.1 Iso/Iec Jtc 1/Swg 5
5.13.3.2.2 Iso/Iec Jtc 1/Sc 31
5.13.3.2.3 Iso/Iec Jtc 1/Sc 27
5.13.3.2.4 Iso/Iec Jtc 1/Wg 7 Sensors
5.13.3.3 Etsi
5.13.3.4 Ieee
5.13.4 Tariff
5.14 Trade Analysis

6 Iot-Based Asset Tracking and Monitoring Market, by Connectivity Type
6.1 Introduction
6.2 Wi-Fi
6.2.1 Increasing Use of Wi-Fi Technology for Indoor Iot-Based Asset Tracking to Drive Market Growth
6.2.2 Use Case: Tracking High-Value Equipment in Medical Facility
6.2.3 Use Case: Supply Chain Monitoring for Better Asset Visibility
6.3 Bluetooth
6.3.1 Rising Preference for Bluetooth Asset Tracking in Short-Range Connectivity to Fuel Market Growth
6.3.2 Increasing Integration of Bluetooth with IoT Applications to Contribute to Market Growth
6.3.3 Use Case: Asset Tracking on Manufacturing Floors Through Bluetooth Technology
6.4 Cellular
6.4.1 Emergence of 5G to Create Growth Opportunities for Cellular Connectivity Segment in Coming Years
6.4.2 Use Case: Asset Tracking and Monitoring Across Oil Drilling Sites
6.4.3 Use Case: Supply Chain Management with Cellular Technologies
6.5 Nb-Iot
6.5.1 Low Power Consumption and High Coverage Features of Nb-Iot to Increase Adoption in Iot-Based Asset Tracking and Monitoring
6.5.2 Use Case: Nb-Iot Modules in Livestock Monitoring
6.6 Lora
6.6.1 Capability of Handling High Device Density at Facilities to Fuel Adoption of Lora
6.6.2 Use Case: Lorawan for Long-Range Penetration
6.6.3 Use Case: Optimizing Livestock Farming and Profitability
6.7 Sigfox
6.7.1 Increasing Need to Connect Devices Across Cities to Fuel Demand for Sigfox
6.7.2 Use Case: Air Asia Streamlined Ground Support Equipment with Sigfox Tech
6.7.3 Use Case: Cost-Cutting by 75% with Adoption of Sigfox's IoT Solutions in Logistics
6.8 Ultra-Wideband (Uwb)
6.8.1 High Use of Uwb for Short-Range Data Transmission to Drive Market Growth
6.8.2 Use Case: Uwb in Healthcare for High-Precision Applications
6.9 Gnss
6.9.1 Rising Gnss Demand for Asset Management in Retail Sector to Drive Market Growth
6.9.2 Use Case: Equipment and Fleet Tracking with Gnss
6.10 Others

7 Iot-Based Asset Tracking and Monitoring Market, by Application
7.1 Introduction
7.2 Livestock Monitoring
7.2.1 Rising Inclination of Farmers and Ranchers Toward Real-Time Monitoring of Animals to Fuel Demand for Iot-Based Asset Trackers
7.2.2 Shortage of Labor and Increasing Labor Costs to Increase Adoption of Iot-Based Asset Monitoring Modules
7.2.3 Case Study: Collaboration of Dairymaster and Lero for Livestock Monitoring Product Development
7.2.4 Case Study: Collaboration of Latium Group and Ghana Board of Economic Development
7.3 Automotive
7.3.1 Increasing Vehicle Fleet and Dependency of Many Verticals on IoT Technologies for Logistics to Proliferate Demand for Iot-Based Asset Trackers
7.3.2 High Real-Time Overall Equipment Effectiveness (Oee) and Overall Production Effectiveness (Ope) to Boost Sales of Iot-Based Modules for Tracking
7.3.2.1 Case Study: Volvo Trucks Adopted Ibm's IoT Solutions
7.4 Railways
7.4.1 Wagon and Rolling Stock Tracking and Monitoring Features of Iot-Based Trackers to Fuel Demand
7.4.2 Use Case: Real-Time Management of Locomotive Assets by Inox LLC
7.5 Aviation
7.5.1 Rising Need for Baggage Handling System and Ground Support Equipment Tracking and Monitoring to Fuel Market Growth
7.5.2 Excellent Luggage Management Benefit of Iot-Based Tracking Systems in Airports to Drive Market Growth
7.5.3 Case Study: Partnership of Sigfox with Travel Company Amadeus
7.6 Manufacturing
7.6.1 Real-Time Location Tracking Benefit of Iot-Based Asset Tracking and Monitoring to Fuel Demand
7.6.2 Rising Preference for Iot-Based Asset Trackers to Optimize Usage Space and Provide Real-Time Visibility to Drive Market Growth
7.6.3 Use Case: Real-Time Asset Tracking in Manufacturing Sector with Bluetooth
7.7 Cold Chain Monitoring
7.7.1 Rising Government-Led Mandates to Deploy IoT Solutions for Temperature and Location Management to Fuel Market Growth
7.7.2 Case Study: Samsara Delivered IoT Tracker Solution to Cold Chain Delivery Trucks
7.7.3 Case Study: Pharmaceutical Cold Chain Monitoring with IoT Asset Trackers
7.8 Others
7.8.1 Use Case: Iot-Based Cargo Container Tracking by U-Blox
7.8.2 Use Case: Iot-Based Medical Equipment Tracking by Sonitor Sense

8 Iot-Based Asset Tracking and Monitoring Market, by Region

9 Competitive Landscape
9.1 Overview
9.2 Revenue Analysis
9.3 Market Share Analysis (2021)
9.4 Company Evaluation Quadrant, 2021
9.4.1 Stars
9.4.2 Emerging Leaders
9.4.3 Pervasive Players
9.4.4 Participants
9.4.5 Competitive Benchmarking
9.5 Small and Medium Enterprises (Smes) Evaluation Quadrant, 2021
9.5.1 Progressive Companies
9.5.2 Responsive Companies
9.5.3 Dynamic Companies
9.5.4 Starting Blocks
9.6 Competitive Scenario and Trends
9.6.1 Product Launches
9.6.2 Deals

10 Company Profiles
10.1 Key Players
10.1.1 Quectel
10.1.2 Thales
10.1.3 Sierra Wireless
10.1.4 Telit
10.1.5 U-Blox
10.2 Other Key Players
10.2.1 Fibocom Wireless Inc.
10.2.2 Sony Semiconductor Israel Ltd.
10.2.3 Nordic Semiconductor
10.2.4 Gosuncnwelink Corporation
10.2.5 Laird Connectivity
10.2.6 Semtech
10.2.7 Mediatek Inc.
10.2.8 Analog Devices, Inc.
10.2.9 Sequans
10.3 Innovators
10.3.1 Meig Smart Technology
10.3.2 Neoway Technology
10.3.3 Xiamen Cheerzing IoT Technology
10.3.4 Hisilicon Technologies
10.3.5 Skyworks Solutions, Inc.
10.3.6 Omnitracs
10.3.7 Hilti North America
10.3.8 Samsara
10.3.9 Azuga
10.3.10 Sunsea Aiot Technology Co., Ltd.
10.3.11 Geotraq