Asset Tracking and Inventory Management Solutions Market Projected to Grow USD 40 billion, at a CAGR of 13.5% by 2027

The market can be segmented on the basis of component, application and industry. On the basis of component, it is sub-segmented into hardware, software and services. The software is expected to be the leading sub-segment during the forecast period. On the basis of application, it is sub-segmented into facility management, IT asset tracking, equipment tracking, funding management, tool tracking, warehouse management, mandate compliance and others. On the basis of industry, it is sub-segmented into BFSI, retail, healthcare, IT& telecom, transportation and logistics, hospitality, energy & utilities, chemical, manufacturing, oil & gas, education and government.

Asset tracking and inventory management solutions market is anticipated to record a CAGR of 13.5% over the forecast period. The market is expected to attain a total market size of USD 40 billion by 2027. The market growth can be attributed to high demand from various sectors in order to manage the operational efficiency.

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On the basis of regional analysis, global Asset Tracking and Inventory Management Solutions Market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia-Pacific region is expected to lead the overall asset tracking and inventory management solutions market during the forecast period. The presence of highly developed industrial sector in the region is expected to drive the growth of market in the region. North America is expected to contribute remarkable market share during the forecast period. The presence of large number of manufacturers in the region is expected to fuel the market growth of asset tracking and inventory management solutions in the region.

Rising demand for better management of inventory

The organizations are focusing on better management of inventory. Thisis a major reason for increasing demand for asset tracking and inventory management solutions. The other factors such as advent of IoT and technological development is also a reason for the growth of market. The emergence of IoT is also a reason for the growth of asset tracking and inventory management solutions market.

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The report titled “Asset Tracking and Inventory Management Solutions Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global asset tracking and inventory management solutionsmarket in terms of market segmentation by component, by application, by industry and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global asset tracking and inventory management solutions market which includes company profiling of key companies such as Chekhra Business Solutions, SAP Systems, EMS Barcode Solutions, LLC, Datalogic S.P.A., Giga Trak, Epicor Software Corporation, Lowry solutions Inc., JDA Software, RedBeam, Inc., Microsoft Corporation, Oracle Corporation, SAP SE, Honeywell International Inc., Tenna, LLC, Stanley Black & Decker, Inc. and Trimble Inc. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global asset tracking and inventory management solutions market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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