GITNUX MARKETDATA REPORT 2024

Asset Tracking Industry Statistics

The asset tracking industry is expected to grow significantly due to increasing adoption of Internet of Things (IoT) technologies and demand for improved operational efficiency and security measures.

Statistic 1

"By 2027, the global asset tracking market is anticipated to reach USD 36.3 billion, from USD 17.6 billion in 2020, at a CAGR of 12.8%."

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Statistic 2

"The majority of businesses (65%) are planning to implement IoT and RFID for asset tracking by 2027."

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Statistic 3

"North America accounted for the largest market share of over 35% in asset-tracking technologies in 2019."

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Statistic 4

"On average, companies can save up to 30% by using asset management software."

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Statistic 5

"The hardware segment of asset tracking accounted for 64% of the total revenue in 2019."

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Statistic 6

"The use of cloud-based asset tracking solutions is estimated to grow at 21.55% CAGR from 2021 to 2026."

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Statistic 7

"Mobile assets currently form about 35% of total enterprise assets."

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Statistic 8

"By 2024, 35 million assets are expected to be tracked by IoT-based asset tracking solutions."

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Statistic 9

"57% of improved efficiency in companies comes from better asset tracking practices."

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Statistic 10

"Retail sector represents one of the fastest-growing segments for asset tracking with a growth rate of 17.42% till 2024."

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Statistic 11

"Inefficient tracking methods cost companies around 20% of their total asset value."

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Statistic 12

"GPS technology in asset tracking is projected to expand at a CAGR of 13.7% from 2020 to 2027."

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Statistic 13

"The APAC asset tracking market revenue is projected to reach $13.51 Billion by 2027."

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Statistic 14

"The healthcare sector is predicted to exhibit a CAGR of about 12.42% till 2025 in the asset tracking market."

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