The global tracking-as-a-service market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.4 Billion by 2032, exhibiting a growth rate (CAGR) of 14.23% during 2024-2032.
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2. About IMARC Group
International Market Analysis Research and Consulting Group is a leading adviser on management
strategy and market research worldwide. We partner with clients in all regions and industry
verticals to identify their highest-value opportunities, address their most critical challenges, and
transform their businesses.
IMARC’s information products include major market, scientific, economic and technological
developments for business leaders in pharmaceutical, industrial, and high technology
organizations. Market forecasts and industry analysis for biotechnology, advanced materials,
chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods
are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and
markets with close cooperation at all levels of the client organization. This ensures that our clients
achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting
results.
3. Report Highlight
and Description
According to the latest report by IMARC Group, titled "Tracking-as-a-Service
Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2024-2032," the global tracking-as-a-service market size reached
US$ 1.9 Billion in 2023.
Tracking-as-a-Service refers to a specialized, cloud-based, digital monitoring
system, which is designed to monitor day-to-day operations and track business
proceedings. It offers various capabilities, including mobile support, reporting
and logging data, integration with legacy software, data collection and
management, process mapping, real-time monitoring, analytics, and business
process optimization solutions.
These systems assist in checking detailed information regarding operations,
enhancing logistics procedures, improving client servicing, and increasing
overall-cost effectiveness, while ensuring data security. This, in turn, aids
organizations in optimizing efficiency and workflow and augmenting overall firm
performance.
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4. Report Description
Global Tracking-as-a-Service Market Trends:
The tracking-as-a-service market is primarily being driven by the widespread adoption of the solution across the
transportation and logistics sector due to the rising need to enhance logistics supply chain and track and manage
inventories, assets, and vehicles. Additionally, the increasing popularity of cloud-based tracking-as-a-service, especially
in the manufacturing industry, owing to the rising requirement for high-speed data transmission, while eliminating
unauthorized access to essential information, is propelling the market growth. This is further supported by the escalating
instances of various f raudulent activities, such as hack ing and data breaching, across sectors.
In line with this, rapid technological advancements, along with the integration of the Internet of Things (IoT), cloud, and
global positioning system (GPS) in the shipments and automobiles as per the government regulations for maintaining the
safety of the driver, improving fleet operator efficiency, and tracing stolen goods in real-time is acting as another growth-
inducing factor. The extensive utilization of track ing-as-a-service solutions by the e-commerce and retail industries for
tracking the shopping carts of customers and gathering online and offline shopping receipts information is contributing to
the market growth. This further aids in providing various accurate item-purchase details, including purchases
demographics, brand, category, and item level. Other factors, including the introduction of eye-track ing solutions and the
increasing uptake of portable devices f or monitoring purposes, are creating a positive outlook f or the market.
Looking forward, the market is anticipated to reach a value of US$ 6.4 Billion by 2032, exhibiting a CAGR
of 14.23% during 2024-2032.
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5. Report
Segmentation
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
6. Report
Segmentation
• Small and Medium-sized Enterprises
Breakup by End Use Industry:
• Retail
• Manufacturing
• E-commerce
• Transportation and Logistics
• Healthcare
• Others
Breakup by Region:
• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa
7. Competitive
Landscape with
Key Players
• 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
• Zebra Technologies Corp.
8. Key Questions
Answered in
the Report
What was the size of the global tracking-as-a-service market in
2023?
What is the expected growth rate of the global tracking-as-a-
service market during 2024-2032?
What are the key factors driving the global tracking-as-a-
service market?
What has been the impact of COVID-19 on the global tracking-
as-a-service market?
What is the breakup of the global tracking-as-a-service market
based on the component?
What is the breakup of the global tracking-as-a-service market
based on the enterprise size?
What is the breakup of the global tracking-as-a-service market
based on the end use industry?
What are the key regions in the global tracking-as-a-service
market?
Who are the key players/companies in the global tracking-as-
a-service market?
9. Table of
Contents
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Tracking-as-a-Service Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Software
6.1.1 Market Trends
6.1.2 Mark et Forecast
6.2 Service
6.2.1 Mark et Trends
6.2.2 Mark et Forecast
7 Market Breakup by Type
7.1 Cloud -based
7.1.1 Mark et Trends
7.1.2 Mark et Forecast
10. Table of
Contents
7.2 On-premises
7.2.1 Mark et Trends
7.2.2 Mark et Forecast
8 Market Breakup by Asset Type
8.1 Electronics and IT Assets
8.1.1 Mark et Trends
8.1.2 Mark et Forecast
8.2 In-Transit Equipment
8.2.1 Mark et Trends
8.2.2 Mark et Forecast
8.3 Manufacturing Assets
8.3.1 Mark et Trends
8.3.2 Mark et Forecast
8.4 Others
8.4.1 Mark et Trends
8.4.2 Mark et Forecast
9 Market Breakup by Enterprise Size
9.1 Large Enterprises
9.1.1 Mark et Trends
9.1.2 Market Forecast
9.2 Small and Medium-sized Enterprises
9.2.1 Mark et Trends
9.2.2 Mark et Forecast
10 Market Breakup by End Use Industry
10.1 Retail
10.1.1 Mark et Trends
10.1.2 Mark et Forecast
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