Asset tracking refers to monitoring and managing fixed, portable, and mobile assets by leveraging various technologies such as GPS, BLE, and RFID.
Asset Tracking in Industry Verticals
While nearly every industry vertical can and will leverage asset tracking to some degree, some enterprise organizations are more aligned with certain types of assets.
For example, telecom companies have many low-cost assets, such as the many IoT devices that are deployed as part of M2M networks. In contrast, governmental organizations have quite a few high-cost assets to track. Other higher cost asset verticals include aerospace, automotive, and many industrial oriented enterprises.
Our research indicates the following:
- More than 50% of the asset tracking market will be driven by AI solutions by 2023
- Industrial automation and warehousing, logistics, and shipping will be the leading industry verticals
- Location determination technology will lead the asset tracking hardware market during 2018 – 2023
Asset Tracking Software
Asset tracking software integrates all the generated data and information to facilitate a comprehensive view of enterprise assets, providing multiple benefits for the organization such as tracking real-time location, status of the assets, tracking movement, alerting overdue or warranty expiration, developing capital expenditure plan, saving operational costs, and many more areas.
Asset tracking technology aids the adoption of M2M/IoT technology and contributes to the growth of Industry 4.0
Asset Tracking to Become Indispensable to Enterprise
It is anticipated that asset tracking systems will become an indispensable part of modern organizations, allowing a competitive advantage for early adopters and a matter of survival as enterprise integrates next generation technologies such as AI and Blockchain.
Asset Tracking Market by Technology (M2M/IoT, Edge Computing, Smart Devices), Connection Type (3G, 4G, 5G, WiFi, and WiMAX), Mobility (Fixed, Portable, and Mobile), Location Determination (GPS, RFID, Others), and Industry Verticals 2018 – 2023 evaluates asset tracking technologies, solutions, and the evolving ecosystem including leading market players. The report assesses the impacts of various use case specific considerations in terms of asset technology and solution selection.
The report also analyses the market outlook for asset tracking globally, regionally, and by major country in each region. Quantitative data and forecasts include market segmentation by hardware technology, software and service, connection type, range of mobility, location requirements, and by industry vertical.