Asset Tracking Market Outlook and Forecasts 2020 – 2027
Channel: MarketResearchDotCom
Date: 2020-08-07

To learn more about this report from Mind Commerce, visit our website: https://www.marketresearch.com/Mind-Commerce-Publishing-v3122/Asset-Tracking-Outlook-Forecasts-13473053/?progid=91666

The overall asset tracking market has witnessed substantial economies of scale improvements in recent years due to inexpensive connectivity and machine-to-machine communications equipment and services. Increased penetration and usage of advanced IoT solutions leveraging M2M and other supporting technologies enable anytime, anywhere, and any type of asset tracking.

In addition, improved economies of scale and advancements in miniaturization and communications have made low-value asset tracking more practical, expanding the range of potential industries and asset types. This is exemplified by the growing trend for RFID-based "slap-and-track" solutions for shipping, supply chain management, and enterprise logistics such as tracking low to medium-value assets such as business equipment and supplies.

There are substantial factors to consider when approaching the broader asset tracking market, which includes asset class, value, and degree of mobility. Whereas asset tracking has historically been largely fleet-focused (commercial trucks, trailers, vans, and cars), there is great potential for expansion towards non-vehicle related assets.

However, Mind Commerce sees the market as currently constrained by the relatively low number of enterprise-connected assets across certain important asset classes. Leading asset tracking solution companies are focusing on the asset value to a business or governmental organization rather than the book value of the asset itself. A consultative marketing/sales approach is necessary to inform enterprise, first of the value of interconnecting business assets, and secondly, demonstrative asset tracking outcomes that bring value straight to the bottom line.

There are also opportunities for technology integration, such as leveraging Artificial Intelligence for enhanced decision making. Mind Commerce sees many roles that AI may play, ranging from machine learning and analytics to improved cybersecurity for connected enterprise assets. By way of example, the Blackberry acquisition of Cylance represents a cybersecurity play that may be parlayed into an IoT device security offering combined with asset tracking solutions for greater overall enterprise security.

This report evaluates asset tracking technologies, solutions, and ecosystems including major players. The report assesses the impacts of various use case specific considerations in terms of asset technology and solution selection. The report also analyzes the market outlook for asset tracking globally, regionally, and by major country from 2020 through 2027.