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

Description

List of Tables

The IoT based Asset Tracking & Monitoring Market was valued at USD 7.10 billion in 2023, expected to reach USD 7.80 billion in 2024, and is projected to grow at a CAGR of 10.54%, to USD 14.32 billion by 2030.

The IoT-based asset tracking and monitoring market encompasses the integration of Internet of Things technology to facilitate real-time tracking, efficient management, and monitoring of assets across various industries. This technology is necessary due to its ability to enhance operational efficiency, reduce loss, and optimize asset utilization. Its applications span a wide range of sectors, including logistics, manufacturing, healthcare, agriculture, and retail. The end-use scope is diverse, ranging from supply chain management to inventory control, equipment monitoring, and even safety enhancements. Market growth is significantly influenced by technological advancements such as improved sensor technologies, enhanced connectivity (5G), and advanced data analytics capabilities. Increasing demand for predictive maintenance and real-time visibility into operations is also driving adoption. Furthermore, the need for improved operational efficiency and cost reduction in asset-heavy industries provides potential opportunities. Recommendations for capturing these opportunities include focusing on developing scalable IoT solutions, partnering with telecom firms for connectivity solutions, and enhancing cybersecurity measures to gain user trust. However, market growth faces challenges such as high initial investment costs, integration complexities with existing systems, and concerns over data privacy and security. Addressing these challenges requires innovations in cost-effective and non-invasive sensor technologies, seamless integration platforms, and robust cybersecurity frameworks. Research should therefore focus on areas such as AI-driven analytics to derive actionable insights from IoT data, energy-efficient sensors to prolong battery life, and blockchain for secure data transactions. As the market is highly dynamic and competitive, businesses need to stay abreast of technological developments and emerging standards while customizing solutions to meet industry-specific needs. By addressing these core areas, businesses can position themselves strategically within the rapidly evolving IoT-based asset tracking and monitoring landscape.

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%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving IoT based Asset Tracking & Monitoring Market

The IoT based Asset Tracking & Monitoring Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

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

Porter's Five Forces: A Strategic Tool for Navigating the IoT based Asset Tracking & Monitoring Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the IoT based Asset Tracking & Monitoring Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the IoT based Asset Tracking & Monitoring Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the IoT based Asset Tracking & Monitoring Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the IoT based Asset Tracking & Monitoring Market

A detailed market share analysis in the IoT based Asset Tracking & Monitoring Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the IoT based Asset Tracking & Monitoring Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the IoT based Asset Tracking & Monitoring Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the IoT based Asset Tracking & Monitoring Market

A strategic analysis of the IoT based Asset Tracking & Monitoring Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

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:

Based on Component, market is studied across Automatic Lighting Controls, Bluetooth Low Energy Transmitters, CCTV Systems, Energy Sensor Trackers, GPS Tracking Tags, Smart Locks, and Smoke & Monoxide Detectors.
Based on Connectivity, market is studied across Bluetooth, Cellular, Global Navigation Satellite System, Long Range, NarrowBand-Internet of Things, SigFox, Ultra-Wideband, and Wi-Fi.
Based on End-User, market is studied across Agriculture, Construction, Education, Healthcare, Law Enforcement, Logistics, and Manufacturing.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

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. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

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

Companies Mentioned

1. 3d Signals
2. Accruent, LLC
3. ALPS ALPINE CO., LTD.
4. Amazon Web Services, Inc.
5. Analog Devices, Inc.
6. Applied Satellite Technology Ltd
7. AT&T Inc.
8. Avnet, Inc.
9. Azuga Inc.
10. Biz4Intellia Inc.
11. Comarch SA
12. Cyient
13. Datacake GmbH
14. Edge Impulse Inc.
15. ElastiSense
16. Euristiq
17. Fibocom Wireless Inc.
18. FitMech Sp. z o.o.
19. GosuncnWelink Corporation
20. HCL Technologies Limited
21. Hilti Corporation
22. Huawei Technologies Co., Ltd.
23. Indio Networks
24. iottag
25. Laird Connectivity
26. Link Labs
27. MeiG Smart Technology Co., Ltd.
28. Neoway Technology Co. Ltd.
29. Nordic Semiconductor
30. Omnitracs, LLC
31. Oracle Corporation
32. Particle Industries, Inc.
33. Quectel Wireless Solutions Co., Ltd.
34. RAD Data Communications Ltd.
35. Radiant RFID, LLC
36. Samsara Inc.
37. Semtech Corporation
38. Sequans Communications
39. Skyworks Solutions, Inc.
40. SmartMakers GmbH
41. Sony Semiconductor Solutions Corporation
42. Tata Communications
43. TEKTELIC Communications Inc.
44. Telit Corporate Group
45. Thales Group
46. u-blox AG
47. VVDN Technologies
48. Wireless Links Inc.
49. WIXTrac