Asset Tracking Software 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 15% CAGR across analysis period 2017 and 2023. By 2023, the asset tracking software is expected to value at USD 11 Billion. A comprehensive analysis of the impact of CVOID 19 outbreak on the asset tracking software market is supplemented with the report.
The new market players can get a complete overview of the main aspects that controls the growth of the market like challenges, drivers, obstructions, opportunities, Asset tracking software size and technological growth.
Industry Highlights
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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Asset Tracking Software Market Segmentation
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.
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Asset Tracking Software Market Key Players
- Zebra Technologies Corporation (U.S.)
- Honeywell International, Inc. (U.S.)
- Datalogic S.P.A (Italy)
- Trimble Inc. (U.S.)
- Ubisense Group Plc. (U.K.)
- Mojix, Inc. (U.S.)
- Stanley Black And Decker, Inc. (U.S.)
- Impinj, Inc. (U.S.)
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.
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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TABLE OF CONTENTS
1 MARKET INTRODUCTION
1.1 INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS
1.2.3 LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
Continued…
3 MARKET DYNAMICS
Continued…
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Reports that inspect the information and communication technology industry have been presented by Market Research Future, which makes reports on industry verticals that evaluate the market expansion and prospects.
The market shows potential to capture USD 11 Billion in earnings at 15% of CAGR by 2023.The trend of ‘bring your own devices’ is expected to create a favorable growth pace in the market for asset tracking software.
Moreover, the incessant increase in dependency over diverse networks is expected to boost the demand for asset tracking software market further.
Also, the need to improve overall business productivity is expected to create better opportunities for development in the forecast period.Asset Tracking Software Market SegmentationIn IT & telecommunication sector, asset tracking software is used by organization owing to its excellent software tracking solutions and enrich cloud solutions.
(U.K.), Mojix, Inc. (U.S.), Impinj, Inc. (U.S.) and others.Market Research Analysis:The asset tracking software market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve information governance in organizations.
Developing countries such as India and China are adopting asset tracking software tools at large scale owing to growing e-commerce and manufacturing sector from numerous industries and the need to designed efficient software for asset management of business is one of the prime factor that is boosting the market in the region.
Asset Tracking Software Market ShareOn the basis of regional analysis the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it.
North America region is leading due to presence of major players from the region in the asset tracking software market and presence of big retail chains.
The implementation of asset tracking software solution by both small and medium enterprises is increasing rapidly, especially one into IT & retail sector.
The initial low cost, saving amount spent on infrastructure, automatic Streaming upgrading and seamless integration is driving the market of cloud based Asset Tracking Software market.The asset tracking software market is expected to grow at approximately USD 11 Billion by 2023, at 15% of CAGR between 2017 and 2023.Asset Tracking Software Market SegmentationIn IT & telecommunication sector, asset tracking software is used by organization owing to its excellent software tracking solutions and enrich cloud solutions.
The growing e-commerce industries in the region are capitalizing hugely in asset tracking tools to expand business efficiency and productivity which is one of the substantial factors advancing the market in the region.Competitive AnalysisThe global currencies are envisaged to become steady, and as a result place exert a gainful impact on the market.
