According to a new report, published by KBV research, The Global IoT based Asset Tracking and Monitoring Market size is expected to reach $6.7 billion by 2028, rising at a market growth of 10.7% CAGR during the forecast period.
The NB-IoT segment is showcasing a CAGR of 11.9% during (2022 - 2028). The NB-IoT market is shown as the most extensively used connectivity for tracking and monitoring IoT assets. For example, near real-time location and data of high-value hospital devices with shock & temper alerts, livestock tracking, container tracking, and temperature monitoring in cold-chain are just a few applications where NB-IoT is frequently used in logistics.
The Manufacturing segment acquired maximum revenue share in the Global IoT based Asset Tracking and Monitoring Market by Application in 2021 thereby, achieving a market value of $2.1 billion by 2028. In order to accelerate decision-making and ease the utilization of the appropriate resources at the appropriate moment, prompt after-sales service & remote diagnosis following equipment failure are essential. These modifications result in less downtime and lower costs for support, warranties, and mobility.
The North America market dominated the Global IoT based Asset Tracking and Monitoring Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.5 billion by 2028. The Europe market is exhibiting a CAGR of 10% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 11.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/iot-based-asset-tracking-and-monitoring-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Thales Group S.A., Sierra Wireless, Inc., Telit corporate group (DBAY Advisors Limited), Analog Devices, Inc., Semtech Corporation, Quectel Wireless Solutions Co., Ltd., U-blox Holding AG, Fibocom Wireless, Inc., Sony Semiconductor Israel Ltd. (Sony Corporation), and Nordic Semiconductor ASA.
By Connectivity Type
By Application
By Geography
Companies Profiled
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