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Asset Tracking Software Market Size To Expand at a Notable CAGR Of 15% During 2017 - 2023

Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Asset Tracking Software Market.

Market Analysis

The new study by Market Research Future on the global asset tracking software market has come up which states that the market is expected to grow by 2023 with a valuation of USD 11 billion at a CAGR of 15%. This is an impressive growth predicted which also states of new opportunities coming in the next couple of years.

Asset tracking software refers to a type of software that enables tracking the movement of IT devices, equipment, and software within an IT environment. Such software is usually used by network, system and IT administrators to have a quantitative record with proper monitoring overall IT assists. The asset tracking software can scan the entire infrastructure for IT assets and compile all into an organization’s IT world.

Asset Tracking Software Market: Drivers & Constraints

Some of the essential factors that are driving the asset tracking software market are raising the need to manage the life cycle of assets and the compliance of assets. Discovery, metering, and optimization solution of the asset software helps organizations to analyze, track, and maintain the asset requirements. These solutions, hence, improve the efficiency of the software, keep an ongoing record of software usage, identify available license software, track history regain usages of software and much more. Due to these aforesaid benefits, many organizations adopt the asset software solution to ensure compliance, reduce their downtime, and assists in making effective business decisions on future software usage.

The asset tracking software market is rapidly transforming from the early days of fixed asset monitoring and functional assessment through rudimentary Machine-to-Machine (M2M) technologies. Hence, a new environment is developing in which assets may be portable or highly mobile with varying asset sizes, uses cases, and industries.

In addition, several advancements have made asset tracking software more practical, resulting in expanding the range of potential industries and asset types. The advent of the advanced Internet of Things (IoT) solutions leveraging M2M and other supporting technologies enables anytime, anywhere, any asset tracking software.

Going forward the key drivers contributing to the growth of asset tracking software market are the rise in digital information, security, flexibility to match customer requirements, a continuous upsurge in dependency over various networks, and rise in the complexity of technological solutions. These factors are eventually helping the asset tracking software market to increase substantially with a higher CAGR..

On the flip side, the lack of awareness of the asset tracking software solutions among the small and enterprises coupled with budget constraints are expected to be the major restraining factors for the growth of the market.

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Market Segmentation

The global asset tracking software market has been segmented by vital factors which include components, deployment, organization size and vertical.

The component type segment includes software and service, whereas the service segment includes manages service and professional service

The deployment type segment includes cloud and on-premise, where cloud solution accounts for the highest market share as it helps enterprises by curtailing costs of IT infrastructure. Cloud solutions provide data protection and security, privacy, and offers data integrity resulting in increasing business productivity.

Regional Outlook

The regional analysis of asset tracking software market by MRFR's reports is studied in Asia Pacific, Americas, Europe and the rest of the world.

Of these, North America region estimates for highest market share in asset tracking software market owing to the presence of significant players and software developers, which is one of the critical reasons of proliferation of the market in the region.

Asia‐Pacific region is expected to witness maximum growth at the highest CAGR over the market is owing to the booming e-commerce industries that are investing hugely in asset tracking tools to improve business efficiency and productivity.

Key Players:

The prominent players in the asset tracking software market are – Zebra Technologies Corporation (U.S.), Stanley Black And Decker, Inc. (U.S.), Honeywell International, Inc. (U.S.), Datalogic S.P.A (Italy), Trimble Inc. (U.S.), Ubisense Group Plc. (U.K.), Mojix, Inc. (U.S.), Impinj, Inc. (U.S.) and others.

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Report details
Companies Covered 15
Pages 100
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
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