GLOBAL ASSET TRACKING MARKET 2019-2028

ICT | Media Software & Services

GLOBAL ASSET TRACKING MARKET 2019-2028

Market by Type, End-user, and Geography | Forecast 2019-2028

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After a detailed analysis, Triton’s report has concluded that the global asset tracking market is anticipated to showcase an upward trend in terms of revenue at a CAGR of 12.95%. The market was accounted for $17.69 billion in 2019, and is expected to reach $52.95 billion by 2028.


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Due to the rising size and complexities associated with logistics and warehousing operations, companies are adopting technologies that enhance operational efficiency. Here, one such technology that assists in tracking the merchandise is asset tracking. It offers solutions and tackles various challenges that companies encounter, including asset recovery, theft avoidance, regulatory compliance, eliminating ghost assets, and more.



Triton’s research report on the asset tracking market provides an in-depth insight into the market. The comprehensive analysis includes the market definition, key insight, evolution and transition of the market, Porter’s five forces analysis, key impact analysis, market attractiveness index, and vendor scorecard.

The growth in logistics 4.0 and IoT is primarily driving the asset tracking market’s progress. The logistics industry is displaying a trend for higher adoption of digitization and automation solutions. Moreover, the IoT implementation has significantly increased, enabling real-time access to the data of the connected devices. Additionally, logistics 4.0 facilitates advanced operation efficiency and cost reduction, which is utilized for decision making in complex environments. This aids in initiating a more dynamic and customized delivery service for the consumers.

Furthermore, the automated delivery of goods creates lucrative growth opportunities for the asset tracking market in the upcoming years. The delivery of goods by drones enables companies to provide services to remote locations or sparsely populated areas that lack efficient transport infrastructure. In such cases, asset tracking helps by tracing the delivery bot or UAV whereabouts, enabling effective navigation. Hence, if the market for automated delivery flourishes, asset tracking would show tremendous growth in the newly structured market.

However, asset tracking solutions have high initial costs with limited functionality. Moreover, the cost varies every month based on each asset for a feature-packed tracking system, reducing the market’s scalability. Thus, the high initial cost of asset tracking solutions is one of the major restraints affecting the asset tracking market’s development. 

key geographies covered in the global asset tracking market are:

•         NorthAmerica: United States and Canada

•         Europe: United Kingdom, Germany, France, Italy, Spain, Russia, and Rest of Europe

•         Asia-Pacific:China, Japan, India, South Korea, ASEAN countries, Australia & New Zealand, and Rest of Asia-Pacific

•         LatinAmerica: Brazil, Mexico, and Rest of Latin America

•         MiddleEast and Africa: United Arab Emirates, Turkey, Saudi Arabia, South Africa, and Rest of Middle East & Africa

The asset tracking market, in this report, is segmented based on:

•         Market by Type:

          o         Hardware

                      •        QR Code/Barcode

                      •        RFID (Radio-Frequency Identification)

                      •        GPS (Global Positioning System)

                      •        BLE (Bluetooth Low Energy)

                      •        LoRaWAN (Long Range Wide Area Network)

                      •        Custom Hardware

          o         Software

                      •        Cloud

                      •        On-Premise

          o         Services

•         Market by End-user:

          o         Transportation and Logistics

          o         Healthcare

          o         Manufacturing

          o         Construction

          o         IT & Telecommunication

          o         Oil & Gas

          o         Others

The well-known companies engaged in the asset tracking market are Spireon Inc, Asset Panda LLC, Azuga, Oracle Corporation, AT&T Inc, Fleet Complete, Hilti, Tenna, Zebra Technologies Corporation, CloudHawk, Ubisense Group PLC, Verizon Communications Inc, GigaTrak, Trimble Inc, and OnAsset Intelligence Inc.  

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Table of Content

1. GLOBAL ASSET TRACKING MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. MARKET DEFINITION

2.2. KEY INSIGHTS

2.2.1.    GROWING E-COMMERCE INDUSTRY AUGMENTING MARKET’S GROWTH

2.2.2.    INCREASED ADOPTION OF IOT DEVICES DURING TRANSPORTATION

2.2.3.    IMPROVEMENTS IN TECHNOLOGIES HELP FLEET MANAGEMENT INDUSTRY

2.3. EVOLUTION AND TRANSITION OF ASSET TRACKING MARKET

2.4. PORTER’S FIVE FORCES ANALYSIS

2.4.1.    THREAT OF NEW ENTRANTS

2.4.2.    THREAT OF SUBSTITUTE

2.4.3.    BARGAINING POWER OF SUPPLIERS

2.4.4.    BARGAINING POWER OF BUYERS

2.4.5.    THREAT OF COMPETITIVE RIVALRY

2.5. KEY IMPACT ANALYSIS

2.5.1.    ACCESSIBILITY

2.5.2.    MOBILITY

2.5.3.    FEATURES

2.5.4.    SCALABILITY

2.5.5.    PRICING

2.5.6.    SUPPORT

2.6. MARKET ATTRACTIVENESS INDEX

2.7. VENDOR SCORECARD

2.8. MARKET DRIVERS

2.8.1.    GROWING DEMAND FROM 3PL COMPANIES

2.8.2.    GROWTH IN IOT AND LOGISTICS 4.0

2.9. MARKET RESTRAINTS

2.9.1.    HIGH INITIAL COST OF ASSET TRACKING SOFTWARE

2.10. MARKET OPPORTUNITIES

2.10.1. GOVERNMENT INITIATIVES IN FAVOUR OF GPS TRACKING

2.10.2.   OPPORTUNITIES FROM AUTOMATED DELIVERY

2.11. MARKET CHALLENGES

2.11.1.  PRIVACY PERTAINING TO CONSUMER’S DATA

2.11.2.    LOW MARKET AWARENESS

2.12. IMPACT OF COVID-19 ON ASSET TRACKING MARKET

3. GLOBAL ASSET TRACKING MARKET OUTLOOK - BY TYPE

3.1. HARDWARE

3.1.1.    QR CODE/BARCODE

3.1.2.    RFID (RADIO-FREQUENCY IDENTIFICATION)

3.1.3.    GPS (GLOBAL POSITIONING SYSTEM)

3.1.4.    BLE (BLUETOOTH LOW ENERGY)

3.1.5.    LORAWAN (LONG RANGE WIDE AREA NETWORK)

3.1.6.    CUSTOM HARDWARE

3.2. SOFTWARE

3.2.1.    CLOUD

3.2.2.    ON-PREMISE

3.3. SERVICES

4. GLOBAL ASSET TRACKING MARKET OUTLOOK - BY END-USER

4.1. TRANSPORTATION AND LOGISTICS

4.2. HEALTHCARE

4.3. MANUFACTURING

4.4. CONSTRUCTION

4.5. IT & TELECOMMUNICATION

4.6. OIL & GAS

4.7. OTHERS

5. GLOBAL ASSET TRACKING MARKET - REGIONAL OUTLOOK

5.1. NORTH AMERICA

5.1.1.    MARKET BY TYPE

5.1.1.1. MARKET BY HARDWARE

5.1.1.2. MARKET BY SOFTWARE

5.1.2.    MARKET BY END-USER

5.1.3.    COUNTRY ANALYSIS

5.1.3.1. UNITED STATES

5.1.3.2. CANADA

5.2. EUROPE

5.2.1.    MARKET BY TYPE

5.2.1.1. MARKET BY HARDWARE

5.2.1.2. MARKET BY SOFTWARE

5.2.2.    MARKET BY END-USER

5.2.3.    COUNTRY ANALYSIS

5.2.3.1. UNITED KINGDOM

5.2.3.2. GERMANY

5.2.3.3. FRANCE

5.2.3.4. SPAIN

5.2.3.5. ITALY

5.2.3.6. RUSSIA

5.2.3.7. REST OF EUROPE

5.3. ASIA-PACIFIC

5.3.1.    MARKET BY TYPE

5.3.1.1. MARKET BY HARDWARE

5.3.1.2. MARKET BY SOFTWARE

5.3.2.    MARKET BY END-USER

5.3.3.    COUNTRY ANALYSIS

5.3.3.1. CHINA

5.3.3.2. JAPAN

5.3.3.3. INDIA

5.3.3.4. SOUTH KOREA

5.3.3.5. ASEAN COUNTRIES

5.3.3.6. AUSTRALIA & NEW ZEALAND

5.3.3.7. REST OF ASIA-PACIFIC

5.4. LATIN AMERICA

5.4.1.    MARKET BY TYPE

5.4.1.1. MARKET BY HARDWARE

5.4.1.2. MARKET BY SOFTWARE

5.4.2.    MARKET BY END-USER

5.4.3.    COUNTRY ANALYSIS

5.4.3.1. BRAZIL

5.4.3.2. MEXICO

5.4.3.3. REST OF LATIN AMERICA

5.5. MIDDLE EAST AND AFRICA

5.5.1.    MARKET BY TYPE

5.5.1.1. MARKET BY HARDWARE

5.5.1.2. MARKET BY SOFTWARE

5.5.2.    MARKET BY END-USER

5.5.3.    COUNTRY ANALYSIS

5.5.3.1. UNITED ARAB EMIRATES

5.5.3.2. TURKEY

5.5.3.3. SAUDI ARABIA

5.5.3.4. SOUTH AFRICA

5.5.3.5. REST OF MIDDLE EAST & AFRICA

6. COMPETITIVE LANDSCAPE

6.1. ASSET PANDA LLC

6.2. AT&T INC

6.3. AZUGA

6.4. CLOUDHAWK

6.5. FLEET COMPLETE

6.6. GIGATRAK

6.7. HILTI

6.8. ONASSET INTELLIGENCE INC

6.9. ORACLE CORPORATION

6.10. SPIREON INC

6.11. TENNA

6.12. TRIMBLE INC

6.13. UBISENSE GROUP PLC

6.14. VERIZON COMMUNICATIONS INC

6.15. ZEBRA TECHNOLOGIES CORPORATION

7. METHODOLOGY & SCOPE

7.1. RESEARCH SCOPE & DELIVERABLES

7.2. SOURCES OF DATA

7.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1. GLOBAL ASSET TRACKING MARKET, BY GEOGRAPHY, 2019-2028 (IN $ MILLION)

TABLE 2. MARKET ATTRACTIVENESS INDEX

TABLE 3. VENDOR SCORECARD

TABLE 4. GLOBAL ASSET TRACKING MARKET, BY TYPE, 2019-2028 (IN $ MILLION)

TABLE 5. GLOBAL ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

TABLE 6. GLOBAL ASSET TRACKING MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)

TABLE 7. GLOBAL ASSET TRACKING MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 8. GLOBAL ASSET TRACKING MARKET, BY GEOGRAPHY, 2019-2028 (IN $ MILLION)

TABLE 9. NORTH AMERICA ASSET TRACKING MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 10. NORTH AMERICA ASSET TRACKING MARKET, BY TYPE, 2019-2028 (IN $ MILLION)

TABLE 11. NORTH AMERICA ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

TABLE 12. NORTH AMERICA ASSET TRACKING MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)

TABLE 13. NORTH AMERICA ASSET TRACKING MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 14. EUROPE ASSET TRACKING MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 15. EUROPE ASSET TRACKING MARKET, BY TYPE, 2019-2028 (IN $ MILLION)

TABLE 16. EUROPE ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

TABLE 17. EUROPE ASSET TRACKING MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)

TABLE 18. EUROPE ASSET TRACKING MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 19. ASIA-PACIFIC ASSET TRACKING MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 20. ASIA-PACIFIC ASSET TRACKING MARKET, BY TYPE, 2019-2028 (IN $ MILLION)

TABLE 21. ASIA-PACIFIC ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

TABLE 22. ASIA-PACIFIC ASSET TRACKING MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)

TABLE 23. ASIA-PACIFIC ASSET TRACKING MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 24. LATIN AMERICA ASSET TRACKING MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 25. LATIN AMERICA ASSET TRACKING MARKET, BY TYPE, 2019-2028 (IN $ MILLION)

TABLE 26. LATIN AMERICA ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

TABLE 27. LATIN AMERICA ASSET TRACKING MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)

TABLE 28. LATIN AMERICA ASSET TRACKING MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

TABLE 29. MIDDLE EAST AND AFRICA ASSET TRACKING MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)

TABLE 30. MIDDLE EAST AND AFRICA ASSET TRACKING MARKET, BY TYPE, 2019-2028 (IN $ MILLION)

TABLE 31. MIDDLE EAST AND AFRICA ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

TABLE 32. MIDDLE EAST AND AFRICA ASSET TRACKING MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)

TABLE 33. MIDDLE EAST AND AFRICA ASSET TRACKING MARKET, BY END-USER, 2019-2028 (IN $ MILLION)

List of Figures

FIGURE 1. PORTER’S FIVE FORCES ANALYSIS

FIGURE 2. KEY BUYING IMPACT ANALYSIS

FIGURE 3. GLOBAL ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

FIGURE 4. GLOBAL ASSET TRACKING MARKET, BY QR CODE/BARCODE, 2019-2028 (IN $ MILLION)

FIGURE 5. GLOBAL ASSET TRACKING MARKET, BY RFID (RADIO-FREQUENCY IDENTIFICATION), 2019-2028 (IN $ MILLION)

FIGURE 6. GLOBAL ASSET TRACKING MARKET, BY GPS (GLOBAL POSITIONING SYSTEM), 2019-2028 (IN $ MILLION)

FIGURE 7. GLOBAL ASSET TRACKING MARKET, BY BLE (BLUETOOTH LOW ENERGY), 2019-2028 (IN $ MILLION)

FIGURE 8. GLOBAL ASSET TRACKING MARKET, BY LORAWAN (LONG RANGE WIDE AREA NETWORK), 2019-2028 (IN $ MILLION)

FIGURE 9. GLOBAL ASSET TRACKING MARKET, BY HARDWARE, 2019-2028 (IN $ MILLION)

FIGURE 10. GLOBAL ASSET TRACKING MARKET, BY SOFTWARE, 2019-2028 (IN $ MILLION)

FIGURE 11. GLOBAL ASSET TRACKING MARKET, BY CLOUD, 2019-2028 (IN $ MILLION)

FIGURE 12. GLOBAL ASSET TRACKING MARKET, BY ON-PREMISE, 2019-2028 (IN $ MILLION)

FIGURE 13. GLOBAL ASSET TRACKING MARKET, BY SERVICES, 2019-2028 (IN $ MILLION)

FIGURE 14. GLOBAL ASSET TRACKING MARKET, BY TRANSPORTATION AND LOGISTICS, 2019-2028 (IN $ MILLION)

FIGURE 15. GLOBAL ASSET TRACKING MARKET, BY HEALTHCARE, 2019-2028 (IN $ MILLION)

FIGURE 16. GLOBAL ASSET TRACKING MARKET, BY MANUFACTURING, 2019-2028 (IN $ MILLION)

FIGURE 17. GLOBAL ASSET TRACKING MARKET, BY CONSTRUCTION, 2019-2028 (IN $ MILLION)

FIGURE 18. GLOBAL ASSET TRACKING MARKET, BY IT & TELECOMMUNICATION, 2019-2028 (IN $ MILLION)

FIGURE 19. GLOBAL ASSET TRACKING MARKET, BY OIL & GAS, 2019-2028 (IN $ MILLION)

FIGURE 20. GLOBAL ASSET TRACKING MARKET, BY OTHERS, 2019-2028 (IN $ MILLION)

FIGURE 21. GLOBAL ASSET TRACKING MARKET, REGIONAL OUTLOOK, 2019 AND 2028 (IN %)

FIGURE 22. UNITED STATES ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 23. CANADA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 24. UNITED KINGDOM ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 25. GERMANY ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 26. FRANCE ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 27. SPAIN ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 28. ITALY ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 29. RUSSIA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 30. REST OF EUROPE ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 31. CHINA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 32. JAPAN ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 33. INDIA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 34. SOUTH KOREA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 35. ASEAN COUNTRIES ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 36. AUSTRALIA & NEW ZEALAND ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 37. REST OF ASIA-PACIFIC ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 38. BRAZIL ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 39. MEXICO ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 40. REST OF LATIN AMERICA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 41. UNITED ARAB EMIRATES ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 42. TURKEY ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 43. SAUDI ARABIA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 44. SOUTH AFRICA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

FIGURE 45. REST OF MIDDLE EAST & AFRICA ASSET TRACKING MARKET 2019-2028 (IN $ MILLION)

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