Market Research Report
North American Mobile Asset Management Market Continues Steady Growth Across Multiple Use Cases, Forecast to 2025
|Published by||Frost & Sullivan||Product code||973367|
|Published||Content info||49 Pages
Delivery time: 1-2 business days
|North American Mobile Asset Management Market Continues Steady Growth Across Multiple Use Cases, Forecast to 2025|
|Published: November 12, 2020||Content info: 49 Pages||
COVID-19, More Affordable Technologies, and Higher Customer Expectations are Driving New Sales
This study examines the North American mobile asset management (MAM) market. For the purposes of this study, mobile asset management offerings are defined as solutions that use wireless tracking devices and cellular, location, and sensor technologies to remotely locate and monitor moveable assets that are outside of a company's four walls. Rich data analytics can also be included. The typical mobile asset management solution includes a hardware tracking device, sensors, application software, cellular data network service, and a web-based administrative portal.
Key market trends, adoption dynamics, and potential growth opportunities are examined. Revenue forecasts are provided for three product categories: 1) Field Equipment Tracking solutions, 2) Trailer and Container Tracking solutions, and 3) High-Value Cargo Tracking solutions. The total market is projected to exhibit a CAGR of 10.6% over 2019-2025.
The mobile asset management industry continues on a strong growth trajectory in North America, thriving in today's business environment by identifying and pursuing a series of new, profitable use cases. A high percentage of North American companies have moveable assets located outside of their four walls, representing a sizeable investment on the companies' part. The utilization of GPS location tracking (MAM's most basic capability) has been highly effective in protecting these assets from theft. However, customer needs are becoming more complex, expanding from simple location tracking to also include sensor monitoring, rich analytics, and more predictive and proactive planning.
Current MAM solution users will want to remain current on product enhancements and the growing mix of industry participants. High-potential new business prospects should be aware of the increased affordability and benefits of these solutions. All stakeholders will want to track trends, partnership opportunities, and evolving customer needs.
Challenges to industry growth in today's mobile asset management market include:
Companies interviewed for this study include: AT&T, CalAmp, Fleet Complete, OnAsset Intelligence, Spireon, and Verizon.