Asset Tracking Software Market Scenario
Market Research Future
(MRFR) in its latest report on the Asset Tracking Software Market 2020 shed light
on governing forces of the market. As per MRFR study, the asset tracking
software market is anticipated to rise at 15% CAGR across analysis period 2017
and 2023. By 2023, the asset tracking software is expected to value at USD 11
Billion. A comprehensive analysis of the impact of CVOID 19 outbreak on the
asset tracking software market is supplemented with the report.
Key Players
Zebra Technologies
Corporation (U.S.), Honeywell International, Inc. (U.S.), Stanley Black And
Decker, Inc. (U.S.), Trimble Inc. (U.S.), Datalogic S.P.A (Italy), Mojix, Inc.
(U.S.), Ubisense Group Plc. (U.K.), and Impinj, Inc. (U.S.) among others are
some reputed names in the asset tracking software market as listed by MRFR.
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Industry Highlights
The presence of top-notch
developers of tracking software and increase in the start-up count dealing in
asset tracking software are likely to generate high revenue for the market
across the study period. The cash-rich retail sector is observed as one of the
highest end consumers of asset tracking software market. The increase in the
deployment of this technology in retail chain is observed as a significant
cause that can support the rise of the asset tracking software market. In rapid
expansion of e-commerce business and its robust globalization can support the
rise of the asset tracking software market across the analysis period. The high
investment in asset tracking tools to introduce efficient and result-oriented
solutions to meet consumer requirements can boost the asset tracking software
market rise.
Segment Study
The segment analysis of the
asset tracking software market is done by organization size, components,
deployment, and vertical.
The component based
segments of the asset tracking software market are software and service. The
service segments are professional service and managed service. The increased
application of managed services due to their benefit of proactive delivery over
other reactive IT services are observed to suffice the demand of consumers.
This can impel the expansion of the asset tracking software market. Rise in
digital information and the increased need to secure bring your own devices,
following the need for flexibility to match custom requirements can impel the
expansion of the market.
The deployment based
segments of the asset tracking software are on-premise and cloud. The increased
application of cloud solutions aids enterprises to cut cost associated with IT
infrastructure that enables enterprise to focus on its core business
competencies. Cloud deployed asset tracking software also enables data
protection and security. Other benefits, such as effective management of
storage and privacy issues that offer high data integrity and provides
effective information regarding coordination and management of business
activities can to boost the overall business productivity. These factors are
likely to promote the expansion of the market.
The end-user based segments
of the Asset Tracking Software Market are BFSI, Healthcare, Government and
Defense, Retail, IT and Telecommunication, Education, and others. The IT &
telecommunication sector can garner high revenue for the asset tracking
software in the years to come. The government and defense sector can also earn
high revenue across the review period.
Market Regional Analysis
In North America, the
upsurge in the dependency over heterogeneous networks and mounting complexity
of technological solutions are creating demand for asset tracking software,
which is expected to prompt the market in the analysis period. In Asia Pacific,
the asset tracking software market is expected to rise at the highest pace in
the years to come. The continuous investment into research and development can
also drive the market rise.
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