How is the IoT Based Asset Tracking And Monitoring Market Progressing?
The IoT based asset tracking and monitoring market size has grown substantially in recent years. It expanded from $5.06 billion in 2024 to an estimated $5.56 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.9%. This historic growth is largely attributable to increasing demand for supply chain efficiency, expansion in industrial IoT, the timely implementation of predictive maintenance, an increased focus on asset security, as well as legislative changes and standards.
The IoT based asset tracking and monitoring market size is further projected to experience rapid growth, reaching $9.62 billion by 2029 with a CAGR of 14.7%. This respectable growth during the forecast period can be attributed to sustainability and green initiatives, integration with AI and analytics, demand for remote monitoring, expansion of retail and inventory management, and an increased adoption in smart city initiatives.
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What Factors are Accelerating the Growth of the IoT Based Asset Tracking And Monitoring Market?
The growing demand for advanced monitoring solutions is expected to significantly propel the growth of the IoT-based asset tracking and monitoring market. Smart monitoring solutions and devices incorporate intelligent technologies such as sensor networks used to collect environmental data. IoT-based asset tracking and monitoring technologies integrate IoT and automation into consumer devices to enable intelligent performance. These technologies track the location and status of assets and equipment, offering real-time visibility into crucial asset locations.
What Are the Primary Segments of the IoT Based Asset Tracking And Monitoring Market?
• By Connection Type: Wi-Fi, Bluetooth, Cellular, NB-IoT, LoRa, SigFox, UWB, GNSS, Other Connectivity Types.
• By Technology: Device Management, Application Management, Network Management.
• By Application: Livestock Monitoring, Automotive, Railways, Aviation, Manufacturing, Cold Chain Monitoring, Other Applications.
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Which Companies are Leading the IoT Based Asset Tracking And Monitoring Market?
Major companies operating in the IoT based asset tracking and monitoring market include Quectel Wireless Solution Co. Ltd., Fibocom Wireless Inc., Sierra Wireless Inc., Telit Corporate Group, u-blox AG, Sequans Communications S.A., Nordic Semiconductor ASA, GosuncnWelink Corporation, Laird Connectivity LLC, Thales Group, Semtech Corporation, Mediatek Inc., Analog Devices Inc., HiSilicon Technologies Co. Ltd., Skyworks Solutions Inc., MeiG Smart Technology Co. Ltd., NXP Semiconductors N.V., Infineon Technologies India Private Ltd, STMicroelectronics N.V., Texas Instruments Incorporated, Samsung Electronics Co. Ltd., LG Electronics Inc., Micron Technology Inc., SMART Modular Technologies Inc., Kingston Technology Company Inc., Western Digital Corporation, Seagate Technology PLC, Renesas Electronics Corporation, Panasonic Holdings Corporation, Toshiba Corporation.
What Emerging Trends are Influencing the IoT Based Asset Tracking And Monitoring Market?
Technological advancement is a key trend gaining popularity in the IoT-based asset tracking and monitoring market. Major players are focused on offering technologically advanced solutions to strengthen their positions in the market.
Which Region Dominates the IoT Based Asset Tracking And Monitoring Market?
North America is the largest region in the IoT-based asset tracking and monitoring market in 2024. Other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The IoT Based Asset Tracking And Monitoring Market Report 2025 Offer?
The IoT Based Asset Tracking And Monitoring Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. IoT-based asset tracking and monitoring refer to a solution involving tracking the location and position of assets and equipment using IoT-enabled devices enabling remote surveillance and control of an asset’s geolocation and movements. It enhances asset control efficiency and reduces equipment loss.
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