PUBLISHER: Polaris Market Research | PRODUCT CODE: 1762426
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1762426
The asset tracking market size is expected to reach USD 92.59 billion by 2034, according to a new study by Polaris Market Research. The report "Asset Tracking Market Share, Size, Trends, Industry Analysis Report By Component (Hardware, Software, and Services), By Technology, By Deployment, By Enterprise Size, By End Use, By Region; Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Asset tracking is the intelligent monitoring of physical resources to assure efficient usage, security, and lifecycle management. The increasing integration of IoT technology improves the accuracy and responsiveness of asset monitoring in real-time and drives the asset tracking market growth. Aligning closely with the core purpose of asset tracking by allowing automated data collection, predictive maintenance, and continuous connectivity across various operational environments. The deployment of smart sensors and IoT technology is becoming increasingly essential, transforming asset tracking into a proactive and data-driven function as industries aim to reduce manual oversight and improve decision-making.
The growing emphasis on sustainability and waste reduction through optimized asset utilization is driving the demand for advanced asset tracking solutions. Organizations are increasingly focused on extending asset lifecycles, minimizing redundancies, and reducing operational inefficiencies by leveraging real-time tracking insights. This shift reflects a broader move toward cost savings and environmental responsibility, where enhanced asset visibility supports smarter, more sustainable resource management. As enterprises become more value-driven, asset tracking is no longer just a logistical tool-it is emerging as a strategic enabler of both sustainability and operational excellence.
In terms of component, the software segment led the asset tracking market in 2024, powering critical real-time analytics and operational decision-making for asset-heavy industries.
Based on technology, the M2M/IoT solutions segment witnesses a strong growth potential as demand for automated tracking and connected device integration increases.
In 2024, North America led the market through its mature tech ecosystem and early implementation of RFID/IoT tracking systems.
Asia Pacific emerges as the fastest-growing regional market, fueled by industrial expansion, infrastructure projects, and digital transformation initiatives.
A few global key market players include Actsoft.com, ASAP Systems, Asset Panda, AT&T Inc., Fleet Complete, GigaTrak (P&T Solutions Inc.), OnAsset Intelligence Inc., Qualcomm Technologies Inc., Samsara Inc., Spireon Inc., Tenna, Trimble Inc., Verizon, and Wasp Barcode Technologies.
Polaris Market Research has segmented the market report on the basis of component, technology, deployment, enterprise size, end use, and region:
By Component Outlook (Revenue, USD Billion, 2020-2034)
Hardware
Software
Services
By Technology Outlook (Revenue, USD Billion, 2020-2034)
RFID (Radio-Frequency Identification)
M2M/IoT
GPS
Barcode
Others
By Deployment Outlook (Revenue, USD Billion, 2020-2034)
Cloud
On-premise
By Enterprise Size Outlook (Revenue, USD Billion, 2020-2034)
Large Enterprises
SMEs
By End Use Outlook (Revenue, USD Billion, 2020-2034)
Transportation & Logistics
Manufacturing
Healthcare
Retail & E-commerce
Aviation
Government
Others
By Regional Outlook (Revenue, USD Billion, 2020-2034)
North America
US
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Vietnam
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa