IoT Based Asset Tracking Monitoring Market

Rising adoption of cost-effective and intelligent is driving the market growth

This trend is expected to continue as businesses recognize the transformative potential of optimizing supply chains, enhancing security, and improving overall asset utilization.

The Global IoT-Based Asset Tracking and Monitoring Market Industry is projected to grow significantly, with estimates indicating a rise from 4.98 USD Billion in 2024 to 15.3 USD Billion by 2035. This growth trajectory reflects a compound annual growth rate (CAGR) of 10.75% from 2025 to 2035. The increasing adoption of IoT technologies across various sectors, coupled with advancements in connectivity and data analytics, is likely to drive this expansion. As organizations recognize the potential benefits of IoT-based asset tracking, the market is expected to witness robust growth, underscoring the importance of these technologies in modern asset management.

The proliferation of smart devices is a notable driver in the Global IoT-Based Asset Tracking and Monitoring Market Industry. With the increasing penetration of smartphones, tablets, and wearables, businesses are finding it easier to implement IoT solutions for asset management. These devices facilitate seamless communication and data exchange, enabling organizations to monitor assets remotely. The growing consumer demand for smart technology is likely to propel market growth, as companies seek to leverage these devices for enhanced operational efficiency. This trend aligns with the overall market growth trajectory, further solidifying the role of smart devices in asset tracking.

Technological advancements play a pivotal role in shaping the Global IoT-Based Asset Tracking and Monitoring Market Industry. Innovations in sensor technology, data analytics, and connectivity options are enhancing the capabilities of asset tracking systems. For example, the integration of artificial intelligence and machine learning allows for predictive maintenance and anomaly detection, which can significantly reduce operational disruptions. As these technologies continue to evolve, they are likely to attract more investments, contributing to a projected CAGR of 10.75% from 2025 to 2035. This growth indicates a strong market potential driven by continuous technological improvements.

The Global IoT-Based Asset Tracking and Monitoring Market Industry experiences a surge in demand for real-time tracking solutions. Businesses across various sectors, including logistics and manufacturing, increasingly require precise location data to enhance operational efficiency. For instance, companies utilizing IoT-based tracking systems can reduce asset loss and improve inventory management. This trend is reflected in the projected market value of 4.98 USD Billion in 2024, indicating a robust growth trajectory. As organizations recognize the value of real-time insights, the adoption of IoT technologies is expected to accelerate, further driving market expansion.

Regulatory compliance and safety standards are becoming increasingly stringent, driving the Global IoT-Based Asset Tracking and Monitoring Market Industry. Organizations are compelled to adopt IoT solutions to ensure compliance with various regulations related to asset management and safety protocols. For instance, industries such as healthcare and transportation face rigorous standards that necessitate real-time monitoring of assets. By implementing IoT-based tracking systems, companies can enhance their compliance efforts while improving safety outcomes. This growing emphasis on regulation adherence is likely to contribute to the market's expansion, as businesses prioritize technologies that facilitate compliance.

Supply chain optimization remains a critical driver within the Global IoT-Based Asset Tracking and Monitoring Market Industry. Organizations are leveraging IoT solutions to streamline operations, reduce costs, and enhance visibility across their supply chains. By integrating IoT devices, companies can monitor asset conditions and locations in real-time, leading to improved decision-making. The anticipated growth from 4.98 USD Billion in 2024 to 15.3 USD Billion by 2035 underscores the importance of these technologies in achieving supply chain efficiency. This trend suggests that businesses are increasingly prioritizing IoT solutions to maintain competitiveness in a rapidly evolving market.

By region, the study supplies market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American IoT Based Asset Tracking and Monitoring market area will dominate this market, owing to the early adoption of advanced technologies, a well-established IT infrastructure, and a high level of awareness regarding the benefits of IoT solutions. Industries like logistics, transportation, and healthcare have been early adopters of asset-tracking solutions.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure: IOT-BASED ASSET TRACKING AND MONITORING MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Asset Tracking and Monitoring market accounts for the second-largest market share due to the strong emphasis on sustainability and environmental regulations, driving the adoption of lot solutions for efficient resource management. Further, the German IoT Based Asset Tracking and Monitoring market held the largest market share, and the UK IoT Based Asset Tracking and Monitoring market was the fastest growing market in the European region.

The Asia-Pacific IoT-based Asset Tracking and Monitoring Market is expected to rise at the fastest CAGR from 2023 to 2032. It is due to the increased demand for asset-tracking technologies. Moreover, China’s IoT Based Asset Tracking and Monitoring market held the largest market share, and the Indian IoT Based Asset Tracking and Monitoring market was the fastest-rising market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the IoT Based Asset Tracking and Monitoring market rise even more. Market participants are also undertaking a diversity of strategic activities to develop their global footprint, with vital market developments including new product launches,  agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To develop and survive in a more competitive and growing market climate, IoT Based Asset Tracking and monitoring industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global IoT Asset Tracking and Monitoring industry to benefit clients and increase the market sector. In recent years, the IoT Based Asset Tracking and Monitoring industry has offered some of the most significant advantages to medicine. Major players in the IoT Based Asset Tracking and Monitoring market, including Analog Devices, Inc., Fibocom Wireless Inc., Gosuncnwelink Corporation, Laird Connectivity, Mediatek Inc., Nordic Semiconductor, Quectel, Semtech, Sequans, Sierra Wireless, Sony Semiconductor Israel Ltd., Telit, Thales, and U-Blox

Nordic Semiconductor was founded as Nordic VLSI (NVLSI) in Trondheim, Norway, in 1983. The company is from the Norwegian University of Science and Technology. The company focuses on the design of mixed-signal application-specific circuits (ASICS) within the Nordic region. In 1996, the firm went public on the Norwegian stock exchange, where it still trades as of 2023. In 1998, NVLSI released its first wireless standard products in the 433 MHz ISM band. 

In 2003, NVLSI was named Nordic Semiconductor, frequently known as Nordic Semi, to consider the company's focus on ultra-low-power wireless devices. The release of Nordic Semiconductor's wireless devices at 2.4 GHz. Since 2003, Nordic Semiconductor has continued a focus on wireless products for the 2.4 GHz band and has seen its devices used in a broad range of branded consumer electronic products. Nordic Semiconductor keeps its dominant position in the wireless sports, fitness, and desktop peripheral markets.

Nordic Semiconductor products support short-range low-power wireless through Bluetooth LE, Thread, Zigbee, and proprietary 2.4 GHz protocols and low-power cellular lot through LTE-M and NB-IoT.

Founded in 1999, Fibocom is a leading global provider of IoT (Internet of Things) wireless solutions and wireless communication modules. We provide one-stop services, including wireless communication modules, IoT application solutions, and cloud platforms. They are committed to bringing reliable, accessible, secure and intelligent wireless solutions to every loT application scenario. The goals are to provide the perfect wireless experience for customers and enrich the smart life of the whole society. In 2017, Fibocom became the first stock-listed wireless module provider in China.