Asset Tracking Software Market Emerging Technologies, Trends, Business Opportunities and Forecasts to 2030
Market Scenario
Market Research Future (MRFR) in its latest report on the asset tracking
software market 2020 shed light on governing forces of the market. As per
MRFR study, the asset tracking software market is anticipated to rise at 12.80%
CAGR across analysis period 2022 and 2030. By 2030, the asset tracking software
is expected to value at USD 43.1 Billion. A comprehensive analysis of the
impact of CVOID 19 outbreak on the asset tracking software market is
supplemented with the report.
The presence of top-notch developers of tracking software and
increase in the start-up count dealing in asset tracking software are likely to
generate high revenue for the market across the study period. The cash-rich
retail sector is observed as one of the highest end consumers of asset tracking
software market. The increase in the deployment of this technology in retail
chain is observed as a significant cause that can support the rise of the asset
tracking software market. In rapid expansion of e-commerce business and its
robust globalization can support the rise of the asset tracking software market
across the analysis period. The high investment in asset tracking tools to
introduce efficient and result-oriented solutions to meet consumer requirements
can boost the asset tracking software market rise.
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Key Players
Zebra Technologies Corporation (U.S.), Honeywell International,
Inc. (U.S.), Stanley Black And Decker, Inc. (U.S.), Trimble Inc. (U.S.),
Datalogic S.P.A (Italy), Mojix, Inc. (U.S.), Ubisense Group Plc. (U.K.), and
Impinj, Inc. (U.S.) among others are some reputed names in the asset tracking
software market as listed by MRFR.
Segment Study
The segment analysis of the asset tracking software market is done
by organization size, components, deployment, and vertical.
The component based segments of the asset tracking software market
are software and service. The service segments are professional service and
managed service. The increased application of managed services due to their
benefit of proactive delivery over other reactive IT services are observed to
suffice the demand of consumers. This can impel the expansion of the asset
tracking software market. Rise in digital information and the increased need to
secure bring your own devices, following the need for flexibility to match
custom requirements can impel the expansion of the market.
The deployment based segments of the asset tracking software are
on-premise and cloud. The increased application of cloud solutions aids
enterprises to cut cost associated with IT infrastructure that enables
enterprise to focus on its core business competencies. Cloud deployed asset
tracking software also enables data protection and security. Other benefits,
such as effective management of storage and privacy issues that offer high data
integrity and provides effective information regarding coordination and
management of business activities can to boost the overall business
productivity. These factors are likely to promote the expansion of the
market.
The end-user based segments of the Asset Tracking Software Market
are BFSI, Healthcare, Government and Defense, Retail, IT and Telecommunication,
Education, and others. The IT & telecommunication sector can garner high
revenue for the asset tracking software in the years to come. The government
and defense sector can also earn high revenue across the review period.
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Market Regional Analysis
In North America, the upsurge in the dependency over heterogeneous
networks and mounting complexity of technological solutions are creating demand
for asset tracking software, which is expected to prompt the market in the
analysis period. In Asia Pacific, the asset tracking software market is
expected to rise at the highest pace in the years to come. The continuous
investment into research and development can also drive the market rise.
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