Global Asset Tracking Market Overview
The global asset tracking market size was valued at USD 23.42 billion in 2024 and is projected to grow from USD 25.98 billion in 2025 to USD 59.64 billion by 2032, exhibiting a CAGR of 12.6% during the forecast period. Growth is driven by rising demand for real-time asset visibility, advancements in IoT and RFID technologies, and the increasing need to optimize operational efficiency across industries such as logistics, healthcare, manufacturing, and retail.
North America dominated the global market with a share of 36.93% in 2024, supported by widespread adoption of advanced tracking solutions, strong IoT infrastructure, and high investments in supply chain optimization by large enterprises.
Key Market Players
- Zebra Technologies Corporation
- Honeywell International Inc.
- Siemens AG
- Trimble Inc.
- AT&T Inc.
- Ubisense Group plc
- Mojix Inc.
- Impinj, Inc.
- TomTom International BV
- SAP SE
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Market Drivers
- Increasing Adoption of IoT and RFID TechnologiesIoT sensors, RFID tags, and GPS systems are revolutionizing asset tracking, enabling organizations to monitor assets in real time, reduce losses, and improve utilization.
- Growing Demand for Supply Chain OptimizationAsset tracking provides end-to-end visibility, helping businesses streamline operations, improve inventory management, and reduce operational costs.
- Rising Focus on Operational EfficiencyIndustries are leveraging asset tracking solutions to minimize downtime, improve maintenance schedules, and ensure compliance with regulatory standards.
- Expansion of Smart Cities and Connected InfrastructureSmart city initiatives and growing infrastructure investments are creating demand for advanced asset monitoring systems.