Tracking-as-a-Service

Tracking-as-a-Service

Global Tracking-as-a-Service Market to Reach US$20.3 Billion by 2030

The global market for Tracking-as-a-Service estimated at US$7.3 Billion in the year 2023, is expected to reach US$20.3 Billion by 2030, growing at a CAGR of 15.7% over the analysis period 2023-2030. Software Component, one of the segments analyzed in the report, is expected to record a 15.2% CAGR and reach US$12.0 Billion by the end of the analysis period. Growth in the Services Component segment is estimated at 16.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.0 Billion While China is Forecast to Grow at 20.7% CAGR

The Tracking-as-a-Service market in the U.S. is estimated at US$2.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.6 Billion by the year 2030 trailing a CAGR of 20.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 11.9% and 13.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR.

Global Tracking-as-a-Service Market - Key Trends & Drivers Summarized

Why Is Tracking-as-a-Service Gaining Importance in Logistics and Supply Chain Management?

Tracking-as-a-Service (TaaS) is gaining importance in logistics and supply chain management as businesses seek to improve the visibility, efficiency, and security of their operations. TaaS provides real-time tracking of assets, shipments, and inventory through cloud-based platforms, allowing companies to monitor the location, condition, and status of goods as they move through the supply chain. This service is essential for optimizing logistics operations, reducing delays, and preventing losses due to theft or damage. As supply chains become more complex and globalized, the demand for reliable tracking solutions is increasing, making TaaS a critical component of modern logistics management.

How Are Technological Advancements Enhancing Tracking-as-a-Service Solutions?

Technological advancements are significantly enhancing the capabilities and effectiveness of Tracking-as-a-Service solutions. Innovations in GPS, RFID, and IoT technologies are enabling more accurate and real-time tracking of assets and shipments, providing businesses with detailed insights into their supply chain operations. The integration of cloud computing and big data analytics is allowing for the collection and analysis of vast amounts of tracking data, enabling companies to identify trends, predict disruptions, and optimize their logistics processes. Additionally, the development of mobile apps and digital platforms is making it easier for businesses to access tracking information from anywhere, improving decision-making and responsiveness. These technological advancements are driving the adoption of advanced TaaS solutions, supporting the growth of the market.

What Market Trends Are Driving the Demand for Tracking-as-a-Service?

Several key market trends are driving the demand for Tracking-as-a-Service, including the rise of e-commerce, the increasing complexity of supply chains, and the growing emphasis on supply chain security. The rise of e-commerce, driven by the growth of online shopping and direct-to-consumer models, is boosting demand for tracking solutions that can ensure fast and reliable delivery of goods. The increasing complexity of supply chains, with goods being sourced and shipped across multiple countries, is also driving demand for TaaS solutions that can provide visibility and control over global logistics operations. Additionally, the growing emphasis on supply chain security, supported by regulatory requirements and the need to prevent theft and counterfeiting, is encouraging the adoption of tracking solutions that can monitor and protect assets throughout the supply chain. These trends are shaping the future of the TaaS market, driving innovation and growth in the industry.

What Is Driving the Growth in the Tracking-as-a-Service Market?

The growth in the Tracking-as-a-Service market is driven by several factors. The increasing demand for real-time visibility and control in logistics and supply chain operations is a major driver of market growth. Technological advancements in GPS, RFID, IoT, and cloud computing are also contributing to market growth by enhancing the capabilities and effectiveness of TaaS solutions. The rise of e-commerce and the globalization of supply chains are further supporting the adoption of TaaS solutions that can optimize logistics operations and ensure timely delivery of goods. Additionally, the growing focus on supply chain security and the need to prevent losses due to theft or damage are driving demand for advanced tracking solutions. These factors, combined with the ongoing innovation in tracking technology, are driving the expansion of the Tracking-as-a-Service market.

Select Competitors (Total 43 Featured) -

• AT&T Business
• Finale Inventory
• Geotab Inc.
• Honeywell Industrial Automation
• MicroMain Corp.
• Midmark Corporation
• Mojix, Inc.
• Motorola Solutions, Inc.
• Rockwell Automation Inc.
• Samsara, Inc.
• Sortly Inc.
• Spider Tracks Limited
• Trimble Transport & Logistics
• Verizon Business
• Zebra Technologies Corporation ;

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