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Global IoT based Asset Tracking and Monitoring Market is valued at approximately USD 3.5 million in 2021 and is anticipated to grow with a healthy growth rate of more than 11.30% over the forecast period 2022-2028. The IoT-based asset tracking and monitoring offer real-time visibility into asset utilization and insights. This tracking and monitoring system is leveraged with connected devices and sensors to allow remote management and monitoring of an asset’s geopositioned into load distribution and operations cycle times to improve productivity. The surging adoption of intelligent connected devices and sensors, the rising deployment of cloud computing platforms, and the increasing use of IoT technologies in factory automation are the key factors propelling the global market demand. For instance, according to Statista, in 2019, there were nearly 8.6 billion Internet of Things (IoT) connected devices accounted. And it is anticipated to grow and likely reach around 23.1 billion devices by 2027. Accordingly, the rapid penetration of IoT-connected devices is stimulating the demand for IoT-based Asset Tracking and Monitoring, which is accelerating the market growth across the globe. However, rising security concerns related to IoT technologies and lack of interoperability and standardization hamper the market growth over the forecast period of 2022-2028. Also, the growing adoption of data analytics and 5G technologies in the automotive sector and data monetization attributed to AI and IoT convergence are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global IoT based Asset Tracking and Monitoring Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing spending on technological advancements, and presence of leading market players. Whereas, Asia-Pacific is anticipated fastest growing region over the forecast period 2022-2028. Factors such as the growing productivity of well-planned asset tracking, predictive maintenance, and monitoring, as well as rising profitability by using IoT solutions, would create lucrative growth prospects for the IoT based Asset Tracking and Monitoring Market across the Asia-Pacific region.
Major market players included in this report are:
Quectel
Sierra Wireless
Thales Group
Fibocom Wireless Inc.
Nordic Semiconductor
GosuncnWelink Corporation
Laird Connectivity
Semtech Corporation
MediaTek Inc.
Analog Devices, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Connectivity Type:
Wi-Fi
Bluetooth
Cellular
NB-IoT
LoRa
SigFox
UWB
GNSS
Others
By Application:
Livestock Monitoring
Automotive
Railways
Aviation
Manufacturing
Cold Chain Monitoring
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global IoT based Asset Tracking and Monitoring Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
1.2.1. IoT based Asset Tracking and Monitoring Market, by Region, 2020-2028 (USD Million)
1.2.2. IoT based Asset Tracking and Monitoring Market, by Connectivity Type, 2020-2028 (USD Million)
1.2.3. IoT based Asset Tracking and Monitoring Market, by Application, 2020-2028 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global IoT based Asset Tracking and Monitoring Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global IoT based Asset Tracking and Monitoring Market Dynamics
3.1. IoT based Asset Tracking and Monitoring Market Impact Analysis (2020-2028)
3.1.1. Market Drivers
3.1.1.1. Surging adoption of the intelligent connected devices and sensors
3.1.1.2. Rising deployment of cloud computing platforms
3.1.2. Market Challenges
3.1.2.1. Rising security concerns related to IoT technologies
3.1.2.2. Lack of interoperability and standardization
3.1.3. Market Opportunities
3.1.3.1. Growing adoption of data analytics and 5G technologies in automotive sector
3.1.3.2. Data monetization attributed to AI and IoT convergence
Chapter 4. Global IoT based Asset Tracking and Monitoring Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2028)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
4.5. Top investment opportunity
4.6. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1.1. Assessment of the overall impact of COVID-19 on the industry
5.1.2. Pre COVID-19 and post COVID-19 market scenario
Chapter 6. Global IoT based Asset Tracking and Monitoring Market, by Connectivity Type
6.1. Market Snapshot
6.2. Global IoT based Asset Tracking and Monitoring Market by Connectivity Type, Performance – Potential Analysis
6.3. Global IoT based Asset Tracking and Monitoring Market Estimates & Forecasts by Connectivity Type, 2018-2028 (USD Million)
6.4. IoT based Asset Tracking and Monitoring Market, Sub Segment Analysis
6.4.1. Wi-Fi
6.4.2. Bluetooth
6.4.3. Cellular
6.4.4. NB-IoT
6.4.5. LoRa
6.4.6. SigFox
6.4.7. UWB
6.4.8. GNSS
Chapter 7. Global IoT based Asset Tracking and Monitoring Market, by Application
7.1. Market Snapshot
7.2. Global IoT based Asset Tracking and Monitoring Market by Application, Performance – Potential Analysis
7.3. Global IoT based Asset Tracking and Monitoring Market Estimates & Forecasts by Application, 2018-2028 (USD Million)
7.4. IoT based Asset Tracking and Monitoring Market, Sub Segment Analysis
7.4.1. Livestock Monitoring
7.4.2. Automotive
7.4.3. Railways
7.4.4. Aviation
7.4.5. Manufacturing
7.4.6. Cold Chain Monitoring
7.4.7. Others
Chapter 8. Global IoT based Asset Tracking and Monitoring Market, Regional Analysis
8.1. IoT based Asset Tracking and Monitoring Market, Regional Market Snapshot
8.2. North America IoT based Asset Tracking and Monitoring Market
8.2.1. U.S. IoT based Asset Tracking and Monitoring Market
8.2.1.1. Connectivity Type breakdown estimates & forecasts, 2018-2028
8.2.1.2. Application breakdown estimates & forecasts, 2018-2028
8.2.2. Canada IoT based Asset Tracking and Monitoring Market
8.3. Europe IoT based Asset Tracking and Monitoring Market Snapshot
8.3.1. U.K. IoT based Asset Tracking and Monitoring Market
8.3.2. Germany IoT based Asset Tracking and Monitoring Market
8.3.3. France IoT based Asset Tracking and Monitoring Market
8.3.4. Spain IoT based Asset Tracking and Monitoring Market
8.3.5. Italy IoT based Asset Tracking and Monitoring Market
8.3.6. Rest of Europe IoT based Asset Tracking and Monitoring Market
8.4. Asia-Pacific IoT based Asset Tracking and Monitoring Market Snapshot
8.4.1. China IoT based Asset Tracking and Monitoring Market
8.4.2. India IoT based Asset Tracking and Monitoring Market
8.4.3. Japan IoT based Asset Tracking and Monitoring Market
8.4.4. Australia IoT based Asset Tracking and Monitoring Market
8.4.5. South Korea IoT based Asset Tracking and Monitoring Market
8.4.6. Rest of Asia Pacific IoT based Asset Tracking and Monitoring Market
8.5. Latin America IoT based Asset Tracking and Monitoring Market Snapshot
8.5.1. Brazil IoT based Asset Tracking and Monitoring Market
8.5.2. Mexico IoT based Asset Tracking and Monitoring Market
8.6. Rest of The World IoT based Asset Tracking and Monitoring Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Quectel
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. Sierra Wireless
9.2.3. Thales Group
9.2.4. Fibocom Wireless Inc.
9.2.5. Nordic Semiconductor
9.2.6. GosuncnWelink Corporation
9.2.7. Laird Connectivity
9.2.8. Semtech Corporation
9.2.9. MediaTek Inc.
9.2.10. Analog Devices, Inc.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption
List of Tables
TABLE 1. Global IoT based Asset Tracking and Monitoring Market, report scope
TABLE 2. Global IoT based Asset Tracking and Monitoring Market estimates & forecasts by Region 2018-2028 (USD Million)
TABLE 3. Global IoT based Asset Tracking and Monitoring Market estimates & forecasts by Connectivity Type 2018-2028 (USD Million)
TABLE 4. Global IoT based Asset Tracking and Monitoring Market estimates & forecasts by Application 2018-2028 (USD Million)
TABLE 5. Global IoT based Asset Tracking and Monitoring Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 6. Global IoT based Asset Tracking and Monitoring Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 7. Global IoT based Asset Tracking and Monitoring Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 8. Global IoT based Asset Tracking and Monitoring Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 9. Global IoT based Asset Tracking and Monitoring Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 10. Global IoT based Asset Tracking and Monitoring Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 11. Global IoT based Asset Tracking and Monitoring Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 12. Global IoT based Asset Tracking and Monitoring Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 13. Global IoT based Asset Tracking and Monitoring Market by segment, estimates & forecasts, 2018-2028 (USD Million)
TABLE 14. Global IoT based Asset Tracking and Monitoring Market by region, estimates & forecasts, 2018-2028 (USD Million)
TABLE 15. U.S. IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 16. U.S. IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 17. U.S. IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 18. Canada IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 19. Canada IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 20. Canada IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 21. UK IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 22. UK IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 23. UK IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 24. Germany IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 25. Germany IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 26. Germany IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 27. RoE IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 28. RoE IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 29. RoE IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 30. China IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 31. China IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 32. China IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 33. India IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 34. India IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 35. India IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 36. Japan IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 37. Japan IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 38. Japan IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 39. RoAPAC IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 40. RoAPAC IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 41. RoAPAC IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 42. Brazil IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 43. Brazil IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 44. Brazil IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 45. Mexico IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 46. Mexico IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 47. Mexico IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 48. RoLA IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 49. RoLA IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 50. RoLA IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 51. Row IoT based Asset Tracking and Monitoring Market estimates & forecasts, 2018-2028 (USD Million)
TABLE 52. Row IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 53. Row IoT based Asset Tracking and Monitoring Market estimates & forecasts by segment 2018-2028 (USD Million)
TABLE 54. List of secondary sources, used in the study of global IoT based Asset Tracking and Monitoring Market
TABLE 55. List of primary sources, used in the study of global IoT based Asset Tracking and Monitoring Market
TABLE 56. Years considered for the study
TABLE 57. Exchange rates considered
List of figures
FIG 1. Global IoT based Asset Tracking and Monitoring Market, research methodology
FIG 2. Global IoT based Asset Tracking and Monitoring Market, market estimation techniques
FIG 3. Global market size estimates & forecast methods
FIG 4. Global IoT based Asset Tracking and Monitoring Market, key trends 2021
FIG 5. Global IoT based Asset Tracking and Monitoring Market, growth prospects 2022-2028
FIG 6. Global IoT based Asset Tracking and Monitoring Market, porters 5 force model
FIG 7. Global IoT based Asset Tracking and Monitoring Market, pest analysis
FIG 8. Global IoT based Asset Tracking and Monitoring Market, value chain analysis
FIG 9. Global IoT based Asset Tracking and Monitoring Market by segment, 2018 & 2028 (USD Million)
FIG 10. Global IoT based Asset Tracking and Monitoring Market by segment, 2018 & 2028 (USD Million)
FIG 11. Global IoT based Asset Tracking and Monitoring Market by segment, 2018 & 2028 (USD Million)
FIG 12. Global IoT based Asset Tracking and Monitoring Market by segment, 2018 & 2028 (USD Million)
FIG 13. Global IoT based Asset Tracking and Monitoring Market by segment, 2018 & 2028 (USD Million)
FIG 14. Global IoT based Asset Tracking and Monitoring Market, regional snapshot 2018 & 2028
FIG 15. North America IoT based Asset Tracking and Monitoring Market 2018 & 2028 (USD Million)
FIG 16. Europe IoT based Asset Tracking and Monitoring Market 2018 & 2028 (USD Million)
FIG 17. Asia pacific market 2018 & 2028 (USD Million)
FIG 18. Latin America IoT based Asset Tracking and Monitoring Market 2018 & 2028 (USD Million)
FIG 19. Global IoT based Asset Tracking and Monitoring Market, company market share analysis (2021)
At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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