IoT-based asset tracking market projected to reach USD 13.1 billion by 2032

From GlobeNewswire: 2025-05-16 10:10:00

The IoT-Based Asset Tracking and Monitoring Market was valued at USD 4.5 billion in 2023 and is projected to reach USD 13.1 billion by 2032, with a CAGR of 12.69% from 2024-2032. Major players include IBM, Cisco, Siemens, and more. Businesses are adopting IoT tracking for improved security and efficiency in supply chain management.

The U.S. IoT-Based Asset Tracking Market is expected to grow from USD 0.6 billion in 2024 to USD 2.0 billion by 2033 at a CAGR of 13.59%. Factors driving growth include real-time tracking demand, AI integration, and widespread IoT adoption, with predictive analytics accelerating market expansion.

Cellular connectivity dominates IoT asset tracking, while LoRaWAN shows the fastest CAGR due to its long-range capabilities. Transportation & logistics lead in application, with cold chain monitoring registering the fastest growth rate due to increased demand for real-time temperature monitoring.

The Asia-Pacific region dominated the IoT-Based Asset Tracking Market in 2023, driven by industrial development and growing IoT adoption. North America is expected to grow rapidly due to advanced technological infrastructure and increased adoption of IoT technologies in various sectors.

Recent developments include Quectel Wireless Solutions launching smart modules for advanced connectivity needs in asset tracking, and u-blox releasing modules for enhanced asset tracking performance. North America leads the market, while Asia-Pacific is the fastest-growing region. SNS Insider, a top market research and consulting agency, provides valuable insights for decision-making in a changing market. Utilizing surveys, video chats, and focus groups globally, the company delivers current market data and consumer opinions. The IoT-based Asset Tracking and Monitoring Market Report offers in-depth analysis, including segmentation by application and connectivity type.

For further insights, related reports on Enterprise Asset Management (EAM) Software Market, Digital Asset Management Market, AI In Asset Management Market, and Plant Asset Management Market are available. These reports provide comprehensive analysis and trends in their respective markets, offering valuable information for businesses looking to navigate the evolving landscape.



Read more at GlobeNewswire: IoT-Based Asset Tracking and Monitoring Market to Hit USD