The consumer asset tracking market was valued at USD 1.92 billion in the previous year and is expected to register a CAGR of 14.03%, reaching USD 4.04 billion by the next five years.
The consumer asset tracking market is characterized by a multitude of both domestic and international players operating within a highly fragmented and fiercely competitive landscape. Prominent market leaders include Apple Inc., Vodafone Group, Viasat Group, Harman, and Smartcom Mobility Solutions, among others. Technological advancements have become instrumental in providing a substantial competitive edge to these companies while also fostering numerous collaborative partnerships within the market.
In April 2023, Digital Matter introduced a groundbreaking innovation in the form of the longest-lasting battery-powered Internet of Things (IoT) asset tracker. The Remora3, equipped with "second-by-second" tracking capabilities, has set new industry standards. Its aggressive tracking performance surpasses all existing battery-powered devices, opening up unprecedented possibilities for IoT asset-tracking applications that were previously achievable only through wired solutions.
In May 2023, BeWhere, a forward-looking startup specializing in the mobile Internet of Things (M-IoT), unveiled its latest asset trackers: the BeSol+ and BeTen+. An evolution of the company's highly regarded BeSol, the BeSol+ now boasts an industry-leading 5-minute live reporting frequency, even without an external power source. This remarkable achievement is made possible through the incorporation of innovative features, including solar recharging, Low-Power 5G and 2G communications, GPS, GLONASS, GNSS, Wi-Fi, BLE indoor and outdoor location technologies, a robust 7-amp rechargeable battery, and a larger solar panel.
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