Asset tracking and inventory management solutions are defined as collection and maintenance of accurate records for fixed assets. It is a time consuming and expensive task. Asset tracking include tracking unique items of value and inventory tracking refer to tracking non-unique items of value. Inventory management systems help in many businesses to administer stocks of expendable commodities across different surroundings. These solutions are likely to influence supplier data. For instance, the available supply of parts and materials cost & buyer data such as sales history, helps to enhance the forecasting and planning for sales and production.
The Global Asset Tracking and Inventory Management Solutions Market is expected to reach USD 31.9 billion by 2025 from USD 11.8 billion in 2017 and is projected to grow at a CAGR of 12.7 % in the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Global Asset Tracking and Inventory Management Solutions Market, By Component (Hardware, Software, Services ), By Industry (Retail, BFSI, IT& Telecom, Healthcare, Hospitality, Transportation, Logistics, Chemical, Energy & Utilities, Oil & Gas, Manufacturing, Education, Government, Others), By Application (IT Asset Tracking, Equipment Tracking, Facility Management, Tool Tracking, Funding Management, Mandate Compliance, Warehouse Management, Others) , By Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
Major market drivers and restraints
- Demand of asset tracking and inventory management solutions in new offshore fields in deep waters
- Declining efficiencies of aging assets and the need for operational safety
- Decrease in oil and gas prices
- Increasing the demand for maintaining the asset and plant.
- Stringent government safety regulations and quality control requirements
- Climatic changes affecting the operations of various industries
- High initial cost and complex process of system installation
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The market is based on service, industry and geographical segments.
Based on component, the market is segmented into
- hardware and
Hardware is sub segmented into RFID readers, real-time location system (RTLS), barcode scanners, barcode printers, barcode stickers, RFID tags, and global Positioning System (GPS). Software is sub segmented into on premise and cloud-based. Services are sub segmented into consulting & training, implementation & integration, operation & maintenance.
Based on industry, the market is segmented into
- IT& telecom,
- transportation and logistics,
- energy & utilities,
- oil & gas,
- government and others
Based on application, the market is segmented into
- IT asset tracking,
- equipment tracking,
- facility management,
- tool tracking,
- funding management,
- mandate compliance,
- warehouse management and others
Based on geography, the market report covers data points for 28 countries across multiple geographies such as
- North America,
- South America,
- Asia-Pacific and
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
The global asset tracking and inventory management solutions market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of asset tracking and inventory management solutions market for global, Europe, North America, Asia Pacific and South America.
Top Competitors of Market
- Datalogic S.p.A.,
- EMS Barcode Solutions,
- Honeywell International Inc.,
- JDA Software,
- Lowry Solutions,
- Oracle Corporation,
- SAP SE,
- Stanley Black & Decker, Inc.,
- ZIH Corp.,
- Windward Software,
- Jolly Technologies Inc.,
- Wasp Barcode Technologies,
- Ubisense Limited,
- Trimble Inc and Tipper Group
The study objectives of this report are:
- To study and forecast the market size of Asset Tracking and Inventory Management Solutions Market in global market.
- To analyze the global key players, SWOT analysis, value and global market share for top players.
- To define, describe and forecast the market by type, end use and region.
- To analyze and compare the market status and forecast between China and major regions, namely, United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
- To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies
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