The IoT-based Asset Tracking and Monitoring Market is expected to register a CAGR of 8.2% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Connectivity Type (Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS, ZigBee, Thread), Monitoring Type (Indoor, Outdoor), Application (Manufacturing, Automotive). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report IoT-based Asset Tracking and Monitoring Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
IoT-based Asset Tracking and Monitoring Market Segmentation
Connectivity Type- Wi-Fi
- Bluetooth
- Cellular
- NB-IoT
- LoRa
- SigFox
- UWB
- GNSS
- ZigBee
- Thread
- Indoor
- Outdoor
- Manufacturing
- Automotive
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South and Central America
Strategic Insights
IoT-based Asset Tracking and Monitoring Market Growth Drivers- Growing Need for Enhanced Operational Efficiency: The increasing demand for operational efficiency across industries is a significant driver behind the IoT-based asset tracking and monitoring market. Businesses are recognizing the importance of real-time visibility into their assets to optimize inventory management, reduce losses, and enhance productivity. By implementing IoT solutions, companies can monitor asset location, condition, and utilization, allowing them to streamline processes, minimize downtime, and ultimately improve their bottom line. This trend is particularly evident in sectors like logistics, manufacturing, and retail, where asset tracking can lead to substantial cost savings and better resource allocation.
- Increasing Adoption of Smart Technologies: The rapid adoption of smart technologies, including IoT devices, is propelling the growth of the asset tracking market. Organizations are increasingly leveraging connected devices equipped with sensors, GPS, and RFID technology to gain insights into their assets' performance and whereabouts. This technological advancement enables businesses to collect and analyze data in real-time, facilitating informed decision-making and proactive asset management. As more companies recognize the benefits of integrating smart technologies into their operations, the demand for IoT-based asset tracking solutions continues to rise, driving market growth.
- Focus on Risk Management and Security: With the rise in theft, loss, and damage of valuable assets, organizations are increasingly prioritizing risk management and security measures. IoT-based asset tracking and monitoring solutions provide enhanced security features, such as geofencing and alerts for unauthorized movements, which help businesses mitigate risks associated with asset loss. By implementing these solutions, companies can not only protect their physical assets but also ensure compliance with industry regulations and standards. This heightened focus on security and risk management is a key driver for the adoption of IoT-based asset tracking solutions.
- Growth of Cloud-Based IoT Solutions: The shift towards cloud-based IoT solutions is another prominent trend in the asset tracking market. Cloud technology allows businesses to store, manage, and analyze vast amounts of data generated by IoT devices without the need for extensive on-premises infrastructure. This scalability and flexibility make it easier for organizations to implement and expand their asset tracking initiatives. Moreover, cloud solutions facilitate real-time collaboration and access to data from anywhere, empowering teams to respond swiftly to changes and make informed decisions.
- Rising Demand for Sustainable Practices: As businesses increasingly focus on sustainability, there is a growing trend toward adopting IoT-based asset tracking solutions that promote environmentally friendly practices. These solutions help organizations optimize resource utilization, reduce waste, and enhance supply chain transparency. By tracking assets more effectively, companies can minimize their carbon footprint and contribute to sustainability goals. This trend is particularly relevant in industries such as logistics and manufacturing, where efficient asset management can lead to substantial reductions in energy consumption and environmental impact.
- Development of Industry-Specific Solutions: There is a vast opportunity for developing industry-specific IoT-based asset tracking and monitoring solutions. Different sectors, such as healthcare, agriculture, and construction, have unique asset management challenges that can be addressed through customized solutions. By focusing on the specific needs of these industries, businesses can create targeted offerings that enhance asset visibility, improve operational efficiency, and drive customer satisfaction. This specialization can also lead to competitive advantages and strengthen brand loyalty in niche markets.
- Integration with Blockchain Technology: The integration of blockchain technology with IoT-based asset tracking solutions offers a promising opportunity for enhancing security, transparency, and traceability. By utilizing blockchain, organizations can create immutable records of asset movements and transactions, reducing the risk of fraud and ensuring data integrity. This combination of IoT and blockchain can provide businesses with a comprehensive view of their asset lifecycle, fostering trust among stakeholders and improving compliance with regulatory standards. As awareness of blockchain benefits grows, this integration is likely to gain traction in the asset tracking market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the IoT-based Asset Tracking and Monitoring Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the IoT-based Asset Tracking and Monitoring Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
The leading players operating in the IoT-based Asset Tracking and Monitoring Market include Quectel Wireless, Fibocom Wireless, U-blox AG, Telit Cinterion, Semtech Corporation, Ezurio, Nordic Semiconductor ASA, Samsara Inc, Sequans Communications, Solera
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Growth of Cloud-Based IoT Solutions, Rising Demand for Sustainable Practices is the key future trend of the IoT-based Asset Tracking and Monitoring Market
The major factors driving the IoT-based Asset Tracking and Monitoring Market is Growing Need for Enhanced Operational Efficiency, Increasing Adoption of Smart Technologies, Focus on Risk Management and Security.
The global IoT-based Asset Tracking and Monitoring Market is expected to grow at a CAGR of 8.2% during the forecast period 2024 - 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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