Tracking-as-a-Service Market 2023 | Insights, Growth Analysis, Business Share and Forecast to 2028

The latest research study “Tracking-as-a-Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global tracking-as-a-service market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2028, exhibiting a growth rate (CAGR) of 16.3% during 2023-2028.

Tracking as a service is a cloud-based solution that helps corporations monitor and track their day-to-day business operations. It is employed through cloud platforms or on-premises and is utilized for remote monitoring of goods, vehicles, inventories, and products. It encourages efficient tracking, building, and evaluating workflows within an organization to ensure corporations achieve their objectives. It also offers various benefits, including improved scalability, data collection, process mapping, mobile support, reporting and logging, data management, real-time monitoring, cost-effectiveness, enhanced customer service, and security. Owing to these properties, tracking-as-a-service is widely adopted in e-commerce, manufacturing, healthcare, retail, logistics, and transportation industries.

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Tracking as A Service Market Trends and Drivers:

The market is primarily driven by the expanding transportation and logistics industry across the globe. Tracking-as-a-service solutions are adopted by various organizations that provide ridesharing and car rental services to improve vehicle maintenance, provide safety to consumers, and prevent delays. In addition, several technological advancements, including the incorporation of connected devices with the global positioning system (GPS), the Internet of Things (IoT), and tracking and real-time monitoring solutions, represent another major growth-inducing factor.

These technologies help track stolen goods, maintain driver safety, locate containers, and detect fraudulent activities, which is augmenting the market growth. Along with this, the escalating demand for electronic monitoring and tracking systems across several corporations to prevent unauthorized access to sensitive data among employees and track the exchange of information is contributing to market growth.

Apart from this, the market is further propelled by the widespread product adoption in the medical sector to provide timely assistance in case of emergencies. Furthermore, the implementation of government initiatives to install GPS tracking systems in novel vehicles is creating a positive market outlook across the globe.

Global Tracking as A Service Market 2023-2028 Analysis and Segmentation:

 Competitive Landscape:

 The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Tracking as A Service Companies:

AT&T Inc., Datalogic S.p.A. (Hydra S.p.A.), Geotab Inc., Honeywell International Inc., Mojix Inc., Motorola Solutions Inc., PCCW Solutions, Spider Tracks Limited, Topcon Corporation, Trimble Inc., Verizon Communications Inc., WABCO Digital Solutions and Zebra Technologies Corp.

The report has segmented the market on the basis of region, component, type, asset type, enterprise size and end use industry.

Breakup by Component:

• Software
• Service

Breakup by Type:

• Cloud-based
• On-premises

Breakup by Asset Type:

• Electronics and IT Assets
• In-Transit Equipment
• Manufacturing Assets
• Others

Breakup by Enterprise Size:

• Large Enterprises
• Small and Medium-sized Enterprises

Breakup by End Use Industry:

• Retail
• Manufacturing
• E-commerce
• Transportation and Logistics
• Healthcare
• 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

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 Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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