IoT based Asset Tracking and Monitoring Market Growth Opportunities

1
MarketsandMarkets Presents

IoT based Asset Tracking and Monitoring Market
Growth Opportunities IoT based Asset Tracking
and Monitoring Market by Connectivity(Wi-Fi,
Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB,
GNSS), Application(Automotive, Manufacturing,
Cold Chain Monitoring), Region(North America,
Europe, APAC, RoW) - Global Forecast to 2027
https//www.marketsandmarkets.com/Market-Reports
/iot-based-asset-tracking-monitoring-market-118687
881.html
2
The IoT based Asset Tracking and Monitoring
market is projected to grow from USD 3.9 billion
in 2022 to USD 6.6 billion by 2027 it is
expected to grow at a CAGR of 11.3 from 2022 to
2027. The key factors fueling the growth of the
market include increasing demand for real-time
information of assets. Every industry has
valuable assets monitoring their performance,
providing them safety, and checking their
availability is crucial for every business.
IoT-based asset tracking and monitoring
technologies and solutions are adaptable. Browse 
195 market data Tables and 62 Figures spread
through 250 Pages and in-depth TOC on "IoT based
Asset Tracking and Monitoring Market by
Connectivity(Wi-Fi, Bluetooth, Cellular, NB-IoT,
LoRa, SigFox, UWB, GNSS), Application(Automotive,
Manufacturing, Cold Chain Monitoring),
Region(North America, Europe, APAC, RoW) - Global
Forecast to 2027"
3
Cellular is the most attractive segment,
creating tremendous market scope for IoT-based
asset tracking and monitoring solution
providers Various cellular technologies, notably
the emergence of fifth-generation cellular
connectivity (5G) and older generations of
services, are used to track assets worldwide.
From many kilometers away, cellular asset
monitoring, such as placement utilizing 2G, can
detect an objects state, city, or even
neighborhood. However, it is not particularly
precise. As a result, cellular asset tracking is
usually reserved for larger assets that are easy
to locate, e.g., 18-wheelers and buses. The most
apparent benefit of cellular asset monitoring is
that it can typically be used from the point of
origin to the point of delivery without the use
of additional technology. Ask PDF
Brochure https//www.marketsandmarkets.com/pdfdow
nloadNew.asp?id118687881 Real-time location
tracking benefit of IoT-based asset tracking and
monitoring for better planning to fuel demand A
good asset tracking and monitoring plan supports
organizational objectives while maximizing
industrial performance and reducing expenses. As
opposed to other business arenas, the
manufacturing industry players are widely
adopting IoT-enabled asset tracking and
monitoring systems. IoT-enabled asset management
helps manufacturing businesses track, organize,
and locate every piece of equipment. All these
tasks take a lot of time and effort to complete
manually. Most industries employ pricey handheld
scanners for inventory control. These assets can
now be tracked automatically using asset tracking
solutions that are IoT enabled.
4
North America to contribute maximum in terms of
value generation in the global IoT based Asset
Tracking and Monitoring market North America is
estimated to lead the global market during the
review period owing to a high inclination toward
technologically advanced products. The region is
a hub for technological innovations and an early
adopter of new technologies. The large presence
of major companies in the region, high demand for
connected technologies, increased use of
innovative devices, and rising deployment of
connected technologies are expected to drive the
growth of the North American IoT-based asset
tracking and monitoring market during the review
period. Request Free Sample Pages https//www.m
arketsandmarkets.com/requestsampleNew.asp?id11868
7881 US is expected to hold the largest share of
the IoT based Asset Tracking and Monitoring North
America market during the forecast period. The US
is a key country with a substantial presence of
leading companies in the 3PL (Third-party
logistics), medical, automotive, and aviation
verticals. Due to the COVID-19 pandemic, these
companies are looking for ways to optimize their
operating costs and increase profitability by
using IoT solutions such as predictive
maintenance, asset tracking, and automated
control solutions. The stimulus provided by the
state government in the form of CARES ACT will
also be an impetus for the IoT-based asset
tracking and monitoring market in the US as more
companies will focus on increasing the
productivity of well-planned asset tracking,
monitoring, and predictive maintenance.
5

• Impact of COVID -19 on the Market
• Semiconductors are essential components of
  electronic devices found in everything from toys,
  cars, and factory machinery to consumer
  electronics and mobile phones. The global chip
  shortage in 20202021 has adversely affected more
  than 169 industries. The cause of the global chip
  crisis is a combination of different events, with
  the adverse effects of COVID-19 being the primary
  reason. Other causes of this shortage include the
  USChina trade war, the 2021 Taiwan manufacturing
  drought, and the RussiaUkraine war. Lockdown
  during the COVID-19 period was the main cause of
  the global shortage. Due to these global
  lockdowns, chip production facilities were shut
  down in China, leading to the depletion of
  inventories. With more people studying and
  working from home during the pandemic, the demand
  for computers, monitors, network peripherals, and
  home entertainment internet services rose
  significantly, adding a tremendous burden on the
  semiconductor supply chain. This has created a
  huge gap between the supply and demand for
  semiconductor chips worldwide.
•  
• Recent Developments
• In April 2022, Semtech announced the addition of
  multi-band capabilities to the LoRa Edge
  device-to-Cloud geolocation platform. This will
  allow integration with applications such as
  supply chain management and logistics.
• In March 2022,  Fibocom Wireless Inc. launched
  the 5G smart module SC171 specially designed for
  AIoT industry applications such as smart robots,
  automobile manufacturing, smart homes, and
  logistics.
• In February 2022, Laird Connectivity has launched
  a new series of Bluetooth modules for IoT
  connectivity. The series is ideal to be used as
  asset tags for industrial solutions.
• In December 2021, Laird Connectivity launched the
  Sentrius BT610 I/O Sensor. The sensor delivers
  full Bluetooth capabilities for a wide range of
  remote monitoring applications such as cold
  chain, HVAC monitoring, single/three-phase
  induction motor current sensing, or tank level
  monitoring, among others.

6
About MarketsandMarkets MarketsandMarkets
provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will
impact 70 to 80 of worldwide companies
revenues. Currently servicing 7500 customers
worldwide including 80 of global Fortune 1000
companies as clients. Almost 75,000 top officers
across eight industries worldwide approach
MarketsandMarkets for their painpoints around
revenues decisions. Our 850 fulltime analyst and
SMEs at MarketsandMarkets are tracking global
high growth markets following the "Growth
Engagement Model GEM". The GEM aims at
proactive collaboration with the clients to
identify new opportunities, identify most
important customers, write "Attack, avoid and
defend" strategies, identify sources of
incremental revenues for both the company and its
competitors. MarketsandMarkets now coming up
with 1,500 MicroQuadrants (Positioning top
players across leaders, emerging companies,
innovators, strategic players) annually in high
growth emerging segments. MarketsandMarkets is
determined to benefit more than 10,000 companies
this year for their revenue planning and help
them take their innovations early to the market
by providing them research ahead of the
curve. MarketsandMarketss flagship competitive
intelligence and market research platform,
"Knowledgestore" connects over 200,000 markets
and entire value chains for deeper understanding
of the unmet insights along with market sizing
and forecasts of markets.
7
Contact Us
Contact Mr. Aashish Mehra MarketsandMarkets
INC. 630 Dundee Road Suite 430 Northbrook, IL
60062 USA 1-888-600-6441 For More
Info https//www.marketsandmarkets.com/PressRelea
ses/iot-based-asset-tracking-monitoring.asp