According to Berg Insight, the European transport management systems (TMS) market, including asset tracking, was estimated to be approximately €0.9 billion in 2021. It is expected to experience steady growth, with a compound annual growth rate (CAGR) of 9.7 percent, leading to a forecasted market value of €1.5 billion in 2026.
Simultaneously, the North American TMS market is projected to increase from an estimated €1.3 billion in 2021 to nearly €2.0 billion in 2026, with a CAGR of 9.3 percent. In addition, according to Transforma Insights, remote tracking systems are forecasted to grow by 23.2 million units by 2024. This growth is driven by the adoption of advanced technology, increased demand for supply chain optimization, data-driven decision-making, regulatory compliance, and the economic imperative of cost efficiency.
Given that over 26% of our customers come from the automotive and logistic sector, including asset tracking use cases, 1NCE can logically track the high relevance of the use case to IoT.
Asset Tracking Device Manufacturers
Find out more about the leading crop control device vendors:
Note: The list makes no claim to completeness.
IoT for Asset Tracking
Using IoT for asset tracking implies the following applications:
Tracking and monitoring vehicles and assets in real-time.
Supply Chain Management
End-to-end visibility of products and assets in the supply chain.
Efficiently managing stock levels and tracking inventory.
Construction and Equipment
Monitoring heavy machinery and equipment on construction sites.
Tracking medical equipment and ensuring its availability.
Monitoring farm assets such as livestock and machinery.
Retail and Loss Prevention
Inventory control and theft prevention in retail stores.
Logistics and Shipping
Real-time tracking of shipments and cargo in the logistics process.
Monitoring machinery to ensure optimal performance and reduce downtime.
Oil and Gas Assets
Remote monitoring of assets in rugged environments.