Asset Tracking Market Demand, Growth, and Forecast 2025-2033

Global Asset Tracking Industry: Key Statistics and Insights in 2025-2033

Summary:

• The global asset tracking market size reached USD 19.3 Billion in 2024.
• The market is expected to reach USD 47.9 Billion by 2033, exhibiting a growth rate (CAGR) of 10.52% during 2025-2033.
• Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
• Hardware accounts for the majority of the market share in the component segment, as it is critical for gathering location data and ensuring asset visibility across various industries, such as logistics and manufacturing.
• On-premises hold the largest share in the asset tracking industry.
• Large enterprises remain a dominant segment in the market, as these enterprises often operate across multiple locations.
• Transportation and logistics represent the leading end use industry segment.
• The rising demand for efficiency is a primary driver of the asset tracking market.
• The increasing need for real-time visibility is reshaping the asset tracking market.

Request for a sample copy of this report: https://www.imarcgroup.com/asset-tracking-market/requestsample

Industry Trends and Drivers:

• Increasing demand for efficiency:

Asset tracking solutions help businesses use resources better. By tracking assets' locations and conditions, organizations can allocate them more efficiently. Traditional methods rely on manual entry and inspections, which are slow and error-prone. In contrast, tracking technologies automate these tasks, cutting down manual work and ensuring accurate data. These systems also offer real-time information on assets, allowing for predictive maintenance. This strategy prevents sudden breakdowns and reduces downtime, boosting organizational efficiency.

• Rising need for real-time visibility:

Real-time visibility is key for tracking goods from suppliers to consumers. Asset tracking systems offer instant data on shipments. This helps organizations improve routes, cut transit times, and handle delays. Moreover, seeing inventory levels in real time allows better stock management. Retailers can avoid overstocking or understocking, saving costs and enhancing service. Additionally, companies with many vehicles or pieces of equipment benefit from real-time tracking. They can monitor usage, reduce idle time, and allocate resources efficiently.

• Technological advancements:

The Internet of Things (IoT) enhances asset tracking by adding sensors and internet connectivity to assets. These sensors provide real-time data on location, condition, and performance, aiding businesses. Additionally, assets can be tagged with radio-frequency identification (RFID) labels for remote scanning and tracking. Meanwhile, global positioning system (GPS) technology boosts the accuracy and coverage of tracking. This is particularly useful for mobile assets like vehicles and equipment. Real-time GPS tracking offers exact location data, improving asset visibility.

Our report provides a deep dive into the asset market analysis, outlining the current trends, underlying market demand, and growth trajectories.

Asset Tracking Market Report Segmentation:

Breakup By Component:

• Hardware
• Software

Hardware represents the largest segment, as physical tracking devices, such as RFID tags, GPS sensors, and IoT hardware, are essential for collecting real-time data on asset location and condition.

Breakup By Deployment Mode:

• On-premises
• Cloud-based

On-premises account for the largest market on account of the rising preference among organizations to keep asset tracking data within their own physical infrastructure for greater control and data security.

Breakup By Organization Size:

• Large Enterprises
• Small and Medium-sized Enterprises

Large enterprises exhibit a clear dominance in the market, as they have more extensive and diverse asset portfolios, requiring robust asset tracking solutions to manage and optimize their resources effectively.

Breakup By End Use Industry:

• Transportation and Logistics
• Aviation
• Healthcare
• Manufacturing
• Food and Beverages
• Others

Transportation and logistics hold the biggest market share due to the critical need for real-time visibility and tracking of assets, including vehicles, containers, and packages.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Top Asset Tracking Market Leaders:

The asset tracking market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Actsoft Inc.
• ASAP Systems
• Asset Panda
• AT&T Inc.
• Azuga Inc. (Bridgestone Corporation)
• Fleet Complete
• GigaTrak
• Tenna
• Trimble Inc.
• Ubisense Limited
• Verizon Communications Inc.
• Wasp Barcode Technologies Inc. (Datalogic S.p.A.)
• Zebra Technologies Corporation.

Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: [email protected]

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145