Asset tracking and monitoring focus on a company’s movable assets such as equipment, machinery, cars, and containers. Attaching sensors to these resources allows for the tracking of IoT asset mobility. The sensors are equipped with chips that communicate with servers by delivering coordinates via connectivity technologies such as Wi-Fi, Bluetooth, cellular, NB-IoT, LoRa, SigFox, UWB, and GNSS. An asset tracking management system and software receive and compile the location data that the sensors send out. This enables management with a real-time location and information about their assets. The IoT-based asset tracking and monitoring market is projected to reach USD 6.6 billion by 2027, growing at a CAGR of 11.3% from 2022 to 2027.
This report covers key applications: livestock monitoring, automotive, railways, aviation, manufacturing, cold chain monitoring, and others. The Key players in the IoT-based asset tracking and monitoring market include Fibocom Wireless Inc. (China), Quectel (China), Sierra Wireless (Canada), Telit (U.K.), u-blox (Switzerland), Thales (France), Sony Semiconductor Israel Ltd. (Israel), Nordic Semiconductor (Norway), GosuncnWelink Corporation (China), Laird Connectivity (US), Semtech (US), and Mediatek Inc. (Taiwan).
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Quectel is a global IoT solutions provider focusing on technological developments, with over 2,300 employees in its R&D centers located across three continents. Quectel offers cellular and global navigation satellite system (GNSS) modules for a broad range of cellular technologies, such as 5G, LTE/LTE-A, NB-IoT/LTE-M, Universal Mobile Telecommunications System (UMTS)/High-speed Packet Access (HSPA (*)), and Global System for Mobile Communications (GSM)/General Packet Radio Service (GPRS). The company delivers a broad set of IoT modules widely used across M2M/10T applications, such as smart payments, smart transportation, smart energy, smart cities, public safety, wireless gateways, medical devices, agricultural equipment, and environment monitoring. The company focuses on product innovation with a significant capital investment in R&D every year. Quectel has been a pioneer in launching new technologies. For instance, the company has introduced NB-IoT and LTE modules. Likewise, it has launched an Al-based smart module for next-generation IoT applications. The company is expanding rapidly, evident from its self-owned factory in Hefei and new R&D centers in Vancouver and Foshan. The company has a global presence across Asia Pacific, EMEA, Latin America, and North America, with a major focus on the Australia, New Zealand, Brazil, China, Japan, South Korea, India, Thailand, Mexico, Southeast Asia, and Africa markets.
Thales offers innovative technology solutions through five segments: Defense & Security, Aerospace, Digital Identity & Security, and Transport. The company has a presence in 68 countries. Over the past five years, Thales has invested more than USD 8.5 billion in digital technologies such as AI, connectivity, big data, and cybersecurity. In April 2019, Thales acquired Gemalto, a global security solution provider specializing in digital identity access and security services. The Digital Identity & Security segment offers a wide range of services and solutions, including digital identity management, secure identity management, identity verification, biometrics, physical and digital payment credentials, digital banking security, mobile and IoT security and connectivity, multi-model authentication, data encryption, cloud security, and software license protection. The company has 100+ eSIM deployments worldwide.
IoT based Asset Tracking and Monitoring Market by Connectivity(Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS), Application(Automotive, Manufacturing, & Cold Chain Monitoring), Region(North America, Europe, APAC, RoW) - Global Forecast to 2027
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