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Asset Tracking And Inventory Management Solutions Market By Component (Hardware, Software, Services), By Application (Facility Management, IT Asset Tracking, Equipment Tracking, Funding Management, Tool Tracking, Others), By Deployment (Cloud, On-Premise), By Organization Size (Large Enterprises, SMEs), By End-User (Retail, Healthcare, IT & Telecom, Transportation, Hospitality, Manufacturing, Oil & Gas, Government, Others) - Growth, Future Prospects and Competitive Analysis, 2019 - 2027

Rising Adoptions for Various Asset Management Solutions Has Increased the Demand for Asset Tracking and Inventory Management Solutions Market

Globally, the asset tracking and inventory management solutions market is expected to grow with a CAGR of 14.6% during the forecast period from 2019 to 2027 and is expected to reach a market value of US$43.60 Bn by 2027. Asset tracking and inventory management solutions are used for managing various inventories and tracking. These solutions offer different information related to the product, their quantities, and when and where they were used, sold, and placed. This information saves users time and money.

The rising requirement for new technologies for maintaining the company’s assets and inventory is one of the primary factors driving the growth of the market globally. These solutions allow the user to locate the misplaced list or assets, enhancing the working speed and reducing the overall cost of the process. In addition, asset management reduces manual work and enhances the working ability of an individual and the process, resulting in the high adoption of these solutions by various industrial verticals.

Market Synopsis

Asset Tracking and Inventory Management Solutions with Hardware in its Component Segment Continue Dominating the Market

In 2018, the overall SATS market was led by the hardware segment in its component segment, contributing to a high percentage of the market share of the total revenue generated globally in 2018 with a market share of more than 35.0% and is expected to grow with a significant CAGR during the forecast period. The technological advancement in the hardware devices and utilization of various tracking systems such as handheld devices, RFID devices, and others is expected to drive the market. In addition, the utilization of GPS systems and technologies for tracking the asset reduces the time for the search.

Asia-Pacific Dominates the Market by Region

The global asset tracking and inventory management solutions market was led by Asia-Pacific, with a market share of more than 35.0% in the year 2018. The presence of various electronics, automotive, hospitality, healthcare, and other industries is a major factor in driving the market in the region as these industries use these solutions for tracking their assets and inventor. The adoption of these solutions among industries is growing rapidly, resulting in the reduction of work hours and improvement in work efficiency. Based on countries, the Asia-Pacific region has been segmented as China, Japan, India, and the Rest of Asia-Pacific. China accounts for the largest market share in the region due to the presence of various manufacturers in the country.

Some of the prominent players operating in the asset tracking and inventory management solutions are Oracle Corporation, JDA Software, Microsoft Corporation, Honeywell International Inc., Zebra Technologies Corporation, RedBeam, Inc., ASAP Systems, LLC, Datalogic S.P.A., EMS Barcode Solutions, GigaTrak, Stanley Black & Decker, Inc., Epicor Software Corporation, SAP SE, Wasp Barcode Technologies, Inc., Jolly Technologies, and Lowry Solutions Inc.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from2019 to 2027.

Report Scope by Segments

The asset tracking and inventory management solutions market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global asset tracking and inventory management solutions market based on component, application, deployment, organization size, end-users, and geography.

Frequently Asked Questions:

The market for Asset Tracking And Inventory Management Solutions is expected to reach US$43.60 Bn by 2027.

The Asset Tracking And Inventory Management Solutions market is expected to see significant CAGR growth over the coming years, at 14.6%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Chekhra Business Solutions, ASAP Systems, EMS Barcode Solutions, LLC, Datalogic S.P.A., GigaTrak, Epicor Software Corporation, Lowry Solutions Inc, JDA Software are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
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Godaddy
Published Date:  Nov 2019
Category:  Technology & Media
Report ID:   60031
Report Format:   PDF
Pages:   120
Rating:    4.3 (66)
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