Tracking as a Service Market is predicted to reach USD 7.6 billion at a CAGR of 18.90% during the forecast period 2023 - 2032

Market Research Future (MRFR) has published on the “Global Tracking as a Service Market”. 

The Tracking as a Service market is estimated to register a CAGR of 18.90% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Tracking as a Service market— Motorola Solutions,Wabco Holdings Inc.,AT&T Inc.,Zebra Technologies Corp.,Verizon Communications,Geotab Inc.,Blackline Safety Corp.,Spider Tracks Limited,Honeywell International Inc.,Trimble Inc.

Market Highlights

The global tracking as a service market is accounted to register a CAGR of 18.90% during the forecast period and is estimated to reach USD 7.6 Billion by 2032.

The primary focus of the market for tracking as a service is providing tracking options for various assets, including vehicles, products, and personnel. By utilising technologies like GPS, RFID, and IoT, this market offers real-time monitoring, route optimisation, asset visibility, and analytics to improve operational efficiency and asset management.

Segment Analysis

The global tracking as a service market has been segmented based deployment and end user.

On the basis of deployment, the market is segmented into on cloud and on-premise. Cloud segment accounted for the largest revenue share in 2022. Due to the expanding privacy concerns across several industries, organisations are hesitant to apply the solution.

Based on end user, the global tracking as a service market has been segmented into retail, manufacturing, e-commerce, transportation and logistics, healthcare, and other end-user industries. Transportation and logistics segment dominated the global Tracking as a Service market in 2022. Today's world depends heavily on transportation.

Regional Analysis

The global Tracking as a Service market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Tracking as a Service market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Tracking as a Service market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Tracking as a Service market comprises of Middle East, Africa, and Latin America.

The North America tracking as a service market dominated this market in 2022 (45.80%). The main causes of this are the existence of stringent criteria for serialisation and aggregation as well as sophisticated healthcare infrastructure. The FDA advises adopting automatic identification technology in the pharmaceutical and healthcare industries, such as barcoding and RFID. The adoption of this technology in the U.S. and its well-established healthcare system is also anticipated to drive the market.

Moreover, in 2022, the Europe tracking as a service market held a sizable market share. The proximity of the region to developed nations like Germany, Turkey, the United Kingdom, France, and Italy may be the cause of this. The European Union plans to gradually implement track and trace technologies throughout the healthcare supply chain in order to prevent prescription fraud and theft. If companies disregard the requirements for drug serialisation, the Falsified Medicines Directive forbids them from marketing their products in Europe.

Additionally, from 2023 to 2032, it's anticipated that the Asia Pacific tracking as a service market will experience rapid expansion. The increase may be ascribed to growing automation technology advancements, particularly in the logistics and transportation sectors of the area. Due to their growing popularity, more people are using robotic warehouse and delivery services.

Furthermore, the rest of the world's tracking as a service market is divided into the Middle East, Africa, and Latin America. The demand for real-time knowledge and efficient asset management by businesses is what is causing the market for tracking as a service in Latin America to expand. The logistics, transportation, and supply chain sectors in the area are putting GPS, RFID, and IoT-based tracking technologies into practise. The demand for better asset monitoring, route optimisation, and security has created opportunities for solution suppliers in the Latin American tracking as a service market.

Key Findings of the Study

• The global tracking as a service market is expected to reach USD 7.6 Billion by 2032, at a CAGR of 18.90% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to Rising automation technology improvements, notably in the region's logistics and transportation industries, might be attributed to the expansion.


• Based on deployment, the on cloud segment was attributed to holding the largest market in 2022.


• Motorola Solutions,Wabco Holdings Inc.,AT&T Inc.,Zebra Technologies Corp.,Verizon Communications,Geotab Inc.,Blackline Safety Corp.,Spider Tracks Limited,Honeywell International Inc.,Trimble Inc.