Tracking as a service represents a cloud-based solution that is used by several organizations to track and monitor day-to-day business processes. It provides enhanced data collection, scalability, mobile support, reporting and logging, process mapping, real-time monitoring, data management, etc., to improve organizational performance, decision-making, and work efficiency. Consequently, tracking-as-a-service finds wide-ranging applications across various industries, such as manufacturing, healthcare, e-commerce, retail, transportation, logistics, etc.
According to the latest report by IMARC Group, the global tracking-as-a-service market is expected to reach US$ 3.7 Billion by 2027, exhibiting at a CAGR of 17.10% during 2022-2027.
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Global Tracking-as-a-Service Industry Trends and Drivers:
The escalating demand for aggregation systems and automated serialization in the healthcare industry is primarily driving the tracking-as-a-service market. Additionally, the widespread adoption of electronic monitoring and tracking systems to prevent unauthorized access to sensitive data and track the exchange of information among employees is further catalyzing the market growth.
Besides this, tracking-as-a-service solutions are extensively used by organizations that offer car rental services to prevent delay, improve vehicle maintenance, provide enhanced safety, etc., to the consumers, which in turn is also augmenting the global market. Moreover, the launch of several favorable policies by the government bodies to install GPS tracking systems in novel vehicles is acting as another significant growth-inducing factor.
Apart from this, the introduction of numerous technological advancements, such as the integration of connected devices with the Internet of Things (IoT), global positioning system (GPS) tracking, real-time monitoring solutions, etc., that aid in locating containers, maintaining driver safety, tracking stolen goods, detecting fraudulent activities, etc., is anticipated to fuel the tracking-as-a-service market over the forecasted period.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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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