Canada IoT-based Asset Tracking and Monitoring Market (2024-2029)

RESEARCH METHODOLOGY

The study involved four major activities in estimating the current size of the IoT-based asset tracking and  monitoring market. Exhaustive secondary research has been done to collect information on the market, peer, and parent markets. The next step has been to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the total market size. After that, market breakdown and data triangulation methods were used to estimate the market size of segments and subsegments. Two sources of information-secondary and primary-have been used to identify and collect information for an extensive technical and commercial study of the IoT-based asset tracking and monitoring market.

Secondary Research

Secondary sources include company websites, magazines, industry news, associations, and databases (Factiva and Bloomberg). These secondary sources include annual reports, press releases, investor presentations of companies, white papers, certified publications, articles by recognized authors, regulatory bodies, trade directories, and databases.

Primary Research

Primary sources mainly consist of several experts from the core and related industries, along with preferred IoT-based asset tracking and monitoring modules providers, distributors, alliances, standards, and certification organizations related to various segments of this industry’s value chain.

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts such as Chief Experience Officers (CXOs), Vice Presidents (VPs), and Directors from business development, marketing, product development/innovation teams, and related key executives from IoT-based asset tracking and monitoring modules providers, such as Quectel Wireless Solutions Co., Ltd (China), u-blox (Switzerland), Fibocom Wireless Inc. (China), Telit (US), Solera (US), Samsara Inc. (US), and SEQUANS (France); research organizations, distributors, industry associations, and key opinion leaders. Following is the breakdown of primary respondents.

The breakdown of primary respondents is provided below.

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Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the IoT-based asset tracking and monitoring market. These methods have also been used extensively to estimate the size of various subsegments in the market. The following research methodology has been used to estimate the market size:

• Major players in the industry and markets have been identified through extensive secondary research.
• The industry’s value chain and market size (in terms of value) have been determined through primary and secondary research processes.
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Top-Down Approach

In the top-down approach, the overall market size has been used to estimate the size of the individual market segments (mentioned in market segmentation) through percentage splits from secondary and primary research. For specific market segments, the size of the most appropriate immediate parent market has been used to implement the top-down approach. The bottom-up approach has also been implemented for data obtained from secondary research to validate the market size of various segments.

IoT-based Asset Tracking and Monitoring Market: Top-down Approach

Bottom-Up Approach

The bottom-up approach has been used to arrive at the overall size of the IoT-based asset tracking and monitoring market from the revenues of the key players and their market shares. Calculations based on revenues of key companies identified in the market led to the estimation of their overall market size.

IoT-based Asset Tracking and Monitoring Market: Bottom-up Approach

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. The market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Market Definition

The IoT-based asset tracking modules, consisting of sensors and tags, are deployed to enable remote monitoring and management of an asset’s geo-position. In industrial operations, it is essential to track the location and condition of assets and inventories securely. Asset tracking enabled by the IoT makes monitoring easier. These technologies help companies lower risks and develop new revenue sources with real-time data for better decision-making. They also help in better inventory management and reduce the chances of asset misplacement by sending real-time alerts and notifications.

Key Stakeholders

• IoT chip and module manufacturers
• Original equipment manufacturers (OEMs)
• Original design manufacturers (ODMs) and OEMs-technology solution providers
• Network service providers
• Research institutes
• IoT forums, alliances, and associations
• Technology investors

Report Objectives

• To define and forecast the IoT-based asset tracking and monitoring market regarding monitoring type, connectivity type, and application.
• To describe and forecast the IoT-based asset tracking and monitoring market and its value segments for four regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their respective countries.
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To strategically analyze micro-markets concerning individual growth trends, prospects, and contributions to the overall market
• To study the complete value chain of the IoT-based asset tracking and monitoring market
• To analyze opportunities in the market for stakeholders by identifying high-growth segments of the market
• To strategically profile key players and comprehensively analyze their market position regarding ranking and core competencies, along with a detailed market competitive landscape.
• To analyze strategic approaches such as agreements, collaborations, and partnerships in the IoT-based asset tracking and monitoring market
• To provide an analysis of the recession impact on the growth of the market and its segments

Available Customizations:

Based on the given market data, MarketsandMarkets offers customizations in the reports according to the client’s specific requirements. The available customization options are as follows:

Company Information

• Detailed analysis and profiling of additional market players (up to 5)