The asset tracking market has witnessed substantial economies of scale improvements in recently years due to inexpensive connectivity and Machine-to-Machine (M2M) communications equipment and services. The advent of advanced Internet of Things (IoT) solutions leveraging M2M and other supporting technologies enables anytime, anywhere, any type of asset tracking. In addition, advancements in miniaturization and communications have made lower value asset tracking more practical, expanding the range of potential industries and asset types.
Asset Tracking Market Dynamics
There are substantial factors to consider when approaching the broader asset tracking market, which include asset class, value, and degree of mobility. Whereas asset tracking has historically been largely fleet-focused (commercial trucks, trailers, vans, and cars), there is great potential for expansion towards non-vehicle related assets. However, the market is currently constrained by the relatively low number of enterprise connected assets across certain important asset classes.
Leading asset tracking solution companies are focusing on the asset value to a business or governmental organization rather than the book value of the asset itself. A consultative marketing and sales approach is necessary to inform enterprise, first of the value of interconnecting business assets, and secondly demonstrative asset tracking outcomes that bring value straight to the bottom line.
There are also opportunities for technology integration, such as leveraging Artificial Intelligence (AI) for enhanced decision making. There are many roles that AI may play, ranging from machine learning and analytics to improved cybersecurity for connected enterprise assets.
By way of example, the recent BlackBerry acquisition of Cylance (a major player in the AI based cybersecurity market) represents a cybersecurity play that may be parlayed into IoT device security (e.g. BlackBerry UEM) and combined with asset tracking solutions (e.g. BlackBerry Radar) for greater overall enterprise security.
Asset Tracking Market Report
This report evaluates asset tracking technologies, solutions, and ecosystem including major players. The report assesses the impacts of various use case specific considerations in terms of asset technology and solution selection. The report also analyzes the market outlook for asset tracking globally, regionally, and by major country in each region.
The report provides analysis and forecasts by infrastructure such as asset tracking by software, which includes: Cost Management, Audit Management, Procurement Management, Condition Monitoring, Inventory Management, and more. This report evaluates the market for asset tracking technology components including M2M Communication, Embedded, On-board and Remote Computing Systems.
The report also assesses the impact of AI (including Machine Learning, Image and Patter Recognition, Neural Networking, and more), blockchain, and big data (including storage and data analytics) in support of asset tracking solutions. The report also evaluates cloud (including central and edge computing) vs. non-cloud based solutions.
Report also Analyzes the Asset Tracking Market in Smart Cities, Buildings, and Workplaces
This report also assesses the asset tracking market by category, such as the fleet tracking market. This is further broken down by land and non-land vehicles and vehicle types details for commercial trucks, vans, cars, and special-purpose vehicles. In terms of non-roadway vehicles, the report assesses aviation, railway, and water-based vehicle market potential. For the aviation asset tracking market, it includes planes, helicopters, and ground support equipment.
The report provides forecasting for the aforementioned as well as by region and country. This includes asset tracking market sizing by revenue as well as unit deployment from 2019 through 2024. Quantitative data and projections cover asset tracking market segmentation by technology, technology components and integration, infrastructure, connection type, range of mobility, location requirements, and by industry vertical.