Total Global Asset tracking Market will reach $27.1 billion by 2023, growing at 14.8% CAGR
SEATTLE, WASHINGTON, UNITED STATES, October 3, 2018 /EINPresswire.com/ — The asset tracking ecosystem is rapidly transforming from the early days of fixed asset monitoring and functional assessment via rudimentary Machine-to-Machine (M2M) technologies. A new environment is developing in which assets may be portable or highly mobile with varying asset sizes, uses cases, and industries.
Advancements in miniaturization and communications have made lower value asset tracking more practical, expanding the range of potential industries, asset types, and use cases. The advent of advanced Internet of Things (IoT) solutions leveraging M2M and other supporting technologies enables anytime, anywhere, any type of asset tracking.
Mind Commerce sees rapid growth particularly in RTLS as well as Blockchain related software and services. Artificial Intelligence (AI) is anticipated to be an integral part of most solutions. Accordingly, the Global Asset Tracking Services Market for AI-driven assets will grow at 40.3% through 2023.
Mind Commerce sees high growth in the following Asset Tracking Solution areas: Asset Condition Monitoring Software, Asset Tracking Software, Blockchain Based Storage and Authentication Software, Communication (Asset to Asset/M2M) Software, Cost and Audit Management Software, Data Storage and Analytics Software, Edge Based Data Processing Software, Enterprise Asset Management Software, Fixed Asset Inventory Management Software, and Procurement Management Software.
The Mind Commerce Asset Tracking Market Report (Asset Tracking Market by Technology (M2M/IoT, Edge Computing, Smart Devices), Connection Type (3G, 4G, 5G, WiFi, and WiMAX), Mobility (Fixed, Portable, and Mobile), Location Determination (GPS, RFID, Others), and Industry Verticals 2018 – 2023), evaluates asset tracking technologies, solutions, and ecosystem 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 in each region. Quantitative data and forecasts include market segmentation by technology, connection type, range of mobility, location requirements, and by industry vertical from 2018 to 2023.
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Source: EIN Presswire