The Asset Tracking Market size is estimated at USD 21.09 billion in 2023, and is expected to reach USD 40.45 billion by 2028, growing at a CAGR of 13.91% during the forecast period (2023-2028).
Asset management and tracking solutions are increasingly critical to achieving greater operational efficiencies in the current market scenario of rapid digitalization in manufacturing environments and office spaces.
The asset tracking market is fragmented, considering the presence of multiple vendors providing different solutions. The solution providers are investing in multiple R&D activities in order to improve the existing solutions and launch new products by integrating the latest technological developments in their solutions. Furthermore, companies are viewing global expansion as a path to attracting maximum market share. Some of the key players in the market are ActSoft Inc., Touma Incorporated (Asap Systems), Asset Panda LLC, AT&T Inc., and GigaTrak (P&T Solutions Inc.
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