Asset Tracking Market Report by Component (Hardware, Software), Deployment Mode (On-premises, Cloud-based), Organization Size (Large Enterprises, Small and Medium sized Enterprises), End Use Industry (Transportation and Logistics, Aviation, Healthcare, Manufacturing, Food and Beverages, and Others), and Region 2025-2033
The global asset tracking market size reached USD 19.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 47.9 Billion by 2033, exhibiting a growth rate (CAGR) of 10.52% during 2025-2033.
Report Attribute
Key Statistics
Base Year
2024
Forecast Years
2025-2033
Historical Years
2019-2024
Market Size in 2024
USD 19.3 Billion
Market Forecast in 2033
USD 47.9 Billion
Market Growth Rate 2025-2033
10.52%
Asset tracking is the process of tracking the physical assets of the organization by scanning barcode labels attached using a global positioning system (GPS) or a radio-frequency identification (RFID). It provides real-time and accurate data for an efficient asset management system. It helps upgrade or replace various assets while saving time and expenses. It offers several benefits, such as centralizing data with asset management software, increasing value with asset utilization reports, improving asset lifecycle maintenance, achieving greater security for assets, and strengthening asset management protocols. As a result, asset tracking finds extensive applications in the food and beverage (F&B), transportation, aviation, healthcare, and manufacturing industries.
Asset Tracking Market Trends:
At present, there is a rise in the demand for asset tracking in various organizations to streamline operations and optimize the utilization of existing resources worldwide. This, along with the growing employment of asset tracking solutions to save costs, enhance profits, and improve the return on investment (RoI), represents one of the key factors driving the market. Besides this, the increasing demand for asset tracking in the healthcare industry to improve workforce safety and patient care is contributing to the growth of the market. In addition, the growing utilization of geographical information systems (GIS) in the transportation sector due to the wide availability of orthorectified images through satellites is positively influencing the market. Moreover, the integration of artificial intelligence (AI), predictive maintenance, augmented reality (AR), internet of things (IoT), digital twin, and telematics in asset tracking for better planning and maintenance of assets is offering a positive market outlook. Apart from this, the rising demand for cloud-based solutions in large enterprises to eliminate the need for installing additional hardware and storing the data in various data centers is bolstering the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global asset trackingmarket report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on component, deployment mode, organization size and end use industry.
Breakup by Component:
Hardware
Software
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Organization Size:
Large Enterprises
Small and Medium-sized Enterprises
Breakup by End Use Industry:
Transportation and Logistics
Aviation
Healthcare
Manufacturing
Food and Beverages
Others
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.) and Zebra Technologies Corporation.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2024
Historical Period
2019-2024
Forecast Period
2025-2033
Units
Billion USD
Segment Coverage
Component, Deployment Mode, Organization Size, End Use Industry, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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.) and Zebra Technologies Corporation
Customization Scope
10% Free Customization
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global asset tracking market was valued at USD 19.3 Billion in 2024.
We expect the global asset tracking market to exhibit a CAGR of 10.52% during 2025-2033.
The rising adoption of asset tracking solutions, as they offer several benefits, including centralizing data with asset management software, increasing value with asset utilization reports, improving asset lifecycle maintenance, etc., is primarily driving the global asset tracking market.
The sudden outbreak of the COVID-19 pandemic has led to the escalating deployment of asset tracking solutions across the healthcare industry in improving workforce safety and patient care by streamlining operations and optimizing the utilization of existing resources across numerous nations.
Based on the component, the global asset tracking market has been divided into hardware and software. Currently, hardware exhibits a clear dominance in the market.
Based on the deployment mode, the global asset tracking market can be categorized into on-premises and cloud-based, where on-premises currently account for the majority of the global market share.
Based on the organization size, the global asset tracking market has been segregated into large enterprises and small and medium-sized enterprises. Currently, large enterprises exhibit a clear dominance in the market.
Based on the end use industry, the global asset tracking market can be bifurcated into transportation and logistics, aviation, healthcare, manufacturing, food and beverages, and others. Among these, the transportation and logistics industry currently holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa.
Some of the major players in the global asset tracking market include 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.), and Zebra Technologies Corporation.
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