IMARC Group, a leading market research company, has recently releases report titled “Tracking-as-a-Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global tracking as a service market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Tracking-as-a-Service
Tracking as a service (TaaS) is a specialized service that provides organizations with an efficient and cost-effective solution to monitor and manage various aspects of their operations. It comprises a wide range of tracking services, such as asset tracking, vehicle tracking, and even personnel tracking. It assists in providing real-time visibility and insights into the movement and status of assets, vehicles, or personnel. As it is beneficial in enabling businesses to enhance their operational efficiency, streamline logistics, reduce downtime, and improve workflows efficiently, the demand for TaaS is rising worldwide.
How Big Is the Tracking-as-a-Service Market?
The global tracking-as-a-service market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2028, exhibiting a growth rate (CAGR) of 16.3% during 2023-2028.
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What are the growth prospects and trends in the tracking-as-a-service industry?
At present, the increasing need for enhanced supply chain management represents one of the major factors contributing to the growth of the market. Apart from this, the rising focus on safety and security in the transportation and logistics sectors is propelling the growth of the market.
In addition, the growing demand for TaaS in various businesses to optimize inventory management and ensure timely deliveries of goods is positively influencing the market. Furthermore, the integration of advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), in TaaS for predictive analysis, preventing breakdowns, and optimizing resources is strengthening the growth of the market.
Besides this, the growing focus on supply chain transparency and security is offering a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
- Small and Medium-sized Enterprises
Breakup by End Use Industry:
- Retail
- Manufacturing
- E-commerce
- Transportation and Logistics
- Healthcare
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
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 and Zebra Technologies Corp.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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