IoT based Asset Tracking & Monitoring Market by Component, Connectivity, End-User

Description

List of Tables

[198 Pages Report] The IoT based Asset Tracking & Monitoring Market size was estimated at USD 7.10 billion in 2023 and expected to reach USD 7.80 billion in 2024, at a CAGR 10.54% to reach USD 14.32 billion by 2030.

The IoT based Asset Tracking and Monitoring includes a broad spectrum of technologies and applications designed to leverage Internet of Things (IoT) solutions to track and monitor physical assets. Continuous improvement in IoT technologies and infrastructure, such as enhanced connectivity and the development of more sophisticated sensors, drives the market growth. IoT based asset tracking and monitoring solutions significantly reduce operational costs and enhance efficiency by automating processes, providing real-time data for decision-making. With the globalization of supply chains and the rise in consumer expectations for prompt delivery and service, the demand for real-time asset tracking and condition monitoring has surged. However, the collection and transmission of vast amounts of data raise concerns regarding data privacy and security, potentially hindering adoption among businesses wary of cyber threats. The challenge of integrating advanced IoT solutions with existing legacy systems can be a significant barrier, requiring substantial investment and technological expertise. Moreover, integrating AI and Machine Learning technologies with IoT-based solutions offers immense opportunities for predictive analytics, enabling businesses to anticipate failures and schedule timely maintenance, further optimizing asset utilization. Exploring new applications and verticals, such as smart agriculture for livestock tracking and crop monitoring, are expected to drive new revenue streams and expand market reach.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.10 billion
Estimated Year [2024]	USD 7.80 billion
Forecast Year [2030]	USD 14.32 billion
CAGR (%)	10.54%

Regional Insights

In the Americas region, the U.S. has led the adoption of IoT for asset tracking, driven by its robust logistics, manufacturing, and healthcare sectors. Notable initiatives, including investments in smart city projects and supply chain visibility tools, are driving significant growth in the Americas region. The European Union's stringent regulations on data protection and sustainability standards drive the market's direction in the EMEA region. Countries such as Germany and Sweden stand out for their advanced manufacturing sectors, leading in adopting Industrial IoT (IIoT) practices. The Middle East region presents a mixed picture, with the Gulf countries (notably the UAE and Saudi Arabia) advancing rapidly in adopting IoT for infrastructure and asset management, primarily driven by smart city projects. The primary consumer need in the African region is for cost-effective and scalable solutions that can address the challenges of harsh environmental conditions and remote monitoring. In the APAC region, Chinese consumers prioritize efficiency and integration capabilities, leading to significant investments in developing IoT protocols and networks such as NB-IoT. Japan's focus on quality and innovation drives its adoption of IoT asset tracking, notably in automotive and electronics manufacturing. India's IoT adoption in asset monitoring is burgeoning, particularly in agriculture, healthcare, and transportation, driven by the need for operational efficiency and the government's "Digital India" campaign.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the IoT based Asset Tracking & Monitoring Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Surging adoption of Industry 4.0 technologies by end-use sector
- Increased deployment of cloud computing platforms in manufacturing sector
- Rising adoption of cost-effective and intelligent connected devices and sensors

Market Restraints
- Lack of interoperability and standardization

Market Opportunities
- Rising investment in data analytics and emergence of 5G technologies globally
- Technological advancement in IoT based asset tracking & monitoring

Market Challenges
- Security and Privacy Concerns

Market Segmentation Analysis
- Component: The integral role of IoT components in asset tracking, energy management, and safety monitoring
- Connectivity: "Exploring the spectrum of IoT-based asset tracking from bluetooth to UWB technologies

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the IoT based Asset Tracking & Monitoring Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the IoT based Asset Tracking & Monitoring Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

ORBCOMM Inc. Unveils Solar-Powered Asset Tracking for Fleet Management

ORBCOMM Inc. has recently expanded its CT 1000 product line with a pioneering solar-powered asset tracking solution engineered to provide fleets of all sizes with an efficient and cost-effective means of monitoring trailers, intermodal containers, and other transport assets. This innovative solution facilitates operational oversight by enabling the monitoring of asset location, motion status, and customizable alerts. Leveraging the power of IoT technology, the system enhances fleet management through geofencing, enabling accurate estimation of arrival times, detection of asset misuse, and rapid implementation of corrective actions to minimize operational delays. [Published On: 2024-02-05]

Vi Business Unveils IoT Smart Central Platform for Enhanced Asset Tracking and Monitoring

Vi Business has introduced the Vi Business IoT Smart Central, an integrative platform designed for the efficient management of IoT connectivity and devices. This cutting-edge solution facilitates real-time, remote management of IoT assets across diverse sectors, including automotive, finance, and utilities, streamlining the SIM lifecycle for both simple and sophisticated projects. [Published On: 2023-09-25]

Qualcomm Unveils Pioneering Satellite-Capable Modems for Enhanced IoT Connectivity and Asset Management

Qualcomm Technologies, Inc. introduces two innovative modem chipsets, the Qualcomm 212S Modem and the Qualcomm 9205S Modem, equipped with satellite capabilities, marking a substantial advancement in off-grid connectivity solutions. These newly launched modems are designed to power industrial applications requiring robust standalone non-terrestrial network (NTN) connectivity or a hybrid model incorporating terrestrial networks. The Qualcomm 212S Modem, notable for its ultra-low power consumption, caters to stationary IoT devices, ensuring sustained connectivity in remote setups, thus ideally suiting applications such as infrastructure monitoring and environmental management. [Published On: 2023-06-22]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the IoT based Asset Tracking & Monitoring Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the IoT based Asset Tracking & Monitoring Market, highlighting leading vendors and their innovative profiles. These include 3d Signals, Accruent, LLC, ALPS ALPINE CO., LTD., Amazon Web Services, Inc., Analog Devices, Inc., Applied Satellite Technology Ltd, AT&T Inc., Avnet, Inc., Azuga Inc., Biz4Intellia Inc., Comarch SA, Cyient, Datacake GmbH, Edge Impulse Inc., ElastiSense, Euristiq, Fibocom Wireless Inc., FitMech Sp. z o.o., GosuncnWelink Corporation, HCL Technologies Limited, Hilti Corporation, Huawei Technologies Co., Ltd., Indio Networks, iottag, Laird Connectivity, Link Labs, MeiG Smart Technology Co., Ltd., Neoway Technology Co. Ltd., Nordic Semiconductor, Omnitracs, LLC, Oracle Corporation, Particle Industries, Inc., Quectel Wireless Solutions Co., Ltd., RAD Data Communications Ltd., Radiant RFID, LLC, Samsara Inc., Semtech Corporation, Sequans Communications, Skyworks Solutions, Inc., SmartMakers GmbH, Sony Semiconductor Solutions Corporation, Tata Communications, TEKTELIC Communications Inc., Telit Corporate Group, Thales Group, u-blox AG, VVDN Technologies, Wireless Links Inc., and WIXTrac.

Market Segmentation & Coverage

This research report categorizes the IoT based Asset Tracking & Monitoring Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Automatic Lighting Controls
- Bluetooth Low Energy Transmitters
- CCTV Systems
- Energy Sensor Trackers
- GPS Tracking Tags
- Smart Locks
- Smoke & Monoxide Detectors

Connectivity
- Bluetooth
- Cellular
- Global Navigation Satellite System
- Long Range
- NarrowBand-Internet of Things
- SigFox
- Ultra-Wideband
- Wi-Fi

End-User
- Agriculture
- Construction
- Education
- Healthcare
- Law Enforcement
- Logistics
- Manufacturing

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-0D217D5ADE92

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Surging adoption of Industry 4.0 technologies by end-use sector
  - 5.1.1.2. Increased deployment of cloud computing platforms in manufacturing sector
  - 5.1.1.3. Rising adoption of cost-effective and intelligent connected devices and sensors
- 5.1.2. Restraints
  - 5.1.2.1. Lack of interoperability and standardization
- 5.1.3. Opportunities
  - 5.1.3.1. Rising investment in data analytics and emergence of 5G technologies globally
  - 5.1.3.2. Technological advancement in IoT based asset tracking & monitoring
- 5.1.4. Challenges
  - 5.1.4.1. Security and Privacy Concerns
5.2. Market Segmentation Analysis
- 5.2.1. Component: The integral role of IoT components in asset tracking, energy management, and safety monitoring
- 5.2.2. Connectivity: "Exploring the spectrum of IoT-based asset tracking from bluetooth to UWB technologies
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. IoT based Asset Tracking & Monitoring Market, by Component

6.1. Introduction
6.2. Automatic Lighting Controls
6.3. Bluetooth Low Energy Transmitters
6.4. CCTV Systems
6.5. Energy Sensor Trackers
6.6. GPS Tracking Tags
6.7. Smart Locks
6.8. Smoke & Monoxide Detectors

7. IoT based Asset Tracking & Monitoring Market, by Connectivity

7.1. Introduction
7.2. Bluetooth
7.3. Cellular
7.4. Global Navigation Satellite System
7.5. Long Range
7.6. NarrowBand-Internet of Things
7.7. SigFox
7.8. Ultra-Wideband
7.9. Wi-Fi

8. IoT based Asset Tracking & Monitoring Market, by End-User

8.1. Introduction
8.2. Agriculture
8.3. Construction
8.4. Education
8.5. Healthcare
8.6. Law Enforcement
8.7. Logistics
8.8. Manufacturing

9. Americas IoT based Asset Tracking & Monitoring Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific IoT based Asset Tracking & Monitoring Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa IoT based Asset Tracking & Monitoring Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. ORBCOMM Inc. Unveils Solar-Powered Asset Tracking for Fleet Management
- 12.3.2. Vi Business Unveils IoT Smart Central Platform for Enhanced Asset Tracking and Monitoring
- 12.3.3. Qualcomm Unveils Pioneering Satellite-Capable Modems for Enhanced IoT Connectivity and Asset Management
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio