According to Berg Insight, market potential for consumer asset tracking is substantial. In Europe and North America, there are significant numbers of potential users, including 70 million children aged 4-10 years (a typical age group for kids' GPS watches), 350 million dogs and cats, 500 million passenger cars, and 135 million other consumer vehicles.
It's estimated that the installed base of active consumer asset tracking devices in Europe and North America reached 11.2 million by the end of 2021. With a compound annual growth rate (CAGR) of 20.4 percent, the number of active units is expected to reach 28.3 million. The market's value is projected to grow from €1.4 billion in 2021 to €3.7 billion in 2026. The growth of the consumer asset tracking market is fueled by its ability to enhance safety, security, and convenience for users, while at the same time becoming more accessible and efficient. 1NCE sees a high relevance of IoT to Consumer Asset Tracking as the number of customers providing such devices is constantly expanding within the client base.
Let’s go through major North American and European market leaders within consumer asset tracking devices:
Consumer asset tracking encompasses the monitoring of vehicles, personal devices, and various items, as well as the tracking of real, living assets:
| Application | Description |
|---|---|
| Family and Child Tracking | Involves tracking the location of family members, particularly children, to enhance their safety and provide peace of mind. |
| Pet Tracking | Offers pet owners the ability to monitor and locate their pets, reducing the risk of loss and ensuring their security. |
| Vehicle Tracking | Encompasses tracking various vehicle types, such as cars, motorcycles, bicycles, caravans, leisure boats, and more, for theft prevention and efficient management. |
| General Asset Tracking | Covers a wide range of assets, including bags, keys, wallets, clothes, electronics, tools, and sports equipment, enabling users to track and locate these assets as needed. |
Learn more about Consumer Electronics and explore our Customer Insights.
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